Gold is an incredibly valuable asset in any form, whether it be jewelry, bars, coins, or bullion. When the price of gold goes up, or when you need extra cash, it might be time to consider selling. But where? What is more profitable - to sell gold to a pawnshop or jewelry store?

There are many factors involved in your choices. Do you have pressing needs? Are you looking for convenience? Is the market value for precious metals high? Let’s take a closer look.

What Type of Gold do Pawn Shops Want?

At Cash Express, we specialize in high-end jewelry and other items made of precious metals - silver, titanium, platinum, copper, and (of course) gold. You can have gold coins that not only have value for the metal, but also for the age and rarity. 

While a jewelry store may offer you a higher price, pawn shops have higher overhead, so you’ll probably get a little less. But stores do not provide quick cash with no hassles. Additionally, the store is typically very picky about the condition of your gold. By comparison, you can bring Cash Express broken or outdated pieces, and we can appraise them for the value of the gold alone. The exception would be plated gold items, which typically contain only a small percentage of gold in the mix. 

Is Selling Gold to a Pawn Shop Safe?

There was a time when pawn shops had little oversight, but that situation changed. In Philadelphia, PA, all pawn shops have to have a license. They need proper identification, inventory tracking, to follow financial regulations, and to comply with anti-theft procedures.

Having said that, just like jewelry stores, not all pawnshops are created equal. Some carry low-level merchandise, specialize in specific items, or have less-than-friendly staff. At Cash Express, things are different. Our staff is welcoming and knowledgeable. You also have the advantage of an on-site appraiser. You will find out the value of your gold right away. There is no pressure. You can accept the offer or walk away and wait until another time. We want to build a culture of trust with our clients. 

Benefits of Selling Gold to a Pawn Shop Instead of a Jewelry Store.

There are specific benefits to bringing your jewelry and other gold items to Cash Express. For one, we’re easily accessible. The convenience means getting in and out quickly.

You receive immediate payment for your gold. When something happens, and you need money right away, you’ll get it on the spot. No banks. No credit checks. It’s a no-nonsense process.

If you’re looking for something new or a gift, you can trade your gold for store credit. There’s also an option that jewelry stores don’t provide: getting a loan (pawning) for your gold. If you have a valuable item but really don’t want to sell it, perhaps it’s a family antique, you can use it as collateral in the short term. At the end of that term, you repay what you owe with agreed-upon interest. 

The Caveat

There are two cautions. One, if you are unable to repay the loan, the store reserves the right to sell your item. If you’re getting close to the deadline, see if you can get an extension. Two: Don’t lose your pawn ticket. Without it, you’ll need to provide ID, a complete description of the item, and proof of ownership. 

Cash Express

At Cash Express, we take pride in being the number one pawn broker in Philadelphia for quick cash. We’d welcome the opportunity to look at your gold and give you a more personalized experience than a jewelry store. You can use our online contact form or email (info@pawnphiladephia.com) to open a discussion and ask questions. Or, call our office at 215-922-1560

Have you been thinking about pawning your Apple Watch or iPhone? It’s not that difficult. In fact, both Apple Watches and iPhones are highly sought-after items at shops like Cash Express. Our professionals are experienced in evaluating both, and can provide you with a competitive price on the spot. Walk in with a phone. Walk out with cash.

The Value of Apple Watches and iPhones

Smartwatches have grown in popularity. They have an impressive presence in the market, in part due to their brand recognition. If you have an Apple Watch or iPhone in great condition with accessories, you may be surprised at the appraised value. 

Original packaging improves the amount you receive. There are other factors that affect the amount you can receive from Cash Express for your Apple Watch or iPhone. Here are some things we evaluate.

• Age: While you might think an older version would be valuable, that’s not typically the case. It’s hard to get updates and replacement parts for these items. If it’s in mint condition with original accessories, you have a better chance at a good sale.

• Band: The newer the band looks, the better price you’ll get

• Buttons: Apple watches and iPhones have somewhat delicate buttons. They’re essential to using the watch effectively, including inspecting the condition of your screen.

• Charger: Without a charger, it's impossible to assess the phone correctly. If you have accessories that work, that improves the value.

• Cosmetic condition: It’s easier to sell a phone whose exterior is in good condition (no scratches or dents)

• Screen: Scratches and cracks significantly decrease the value. 

How to Prepare Apple Watch and iPhone for Pawn Shop

It’s essential to protect your personal data when you're ready to pawn your Apple Watch and iPhone. At Cash Express, we suggest following these steps.

iPhone

1. Sign out of iCloud. You will need to enter your Apple ID and password. This will allow the buyer to activate the phone. 

2. Go to Settings and back up your information on iCloud. This also backs up your Apple Watch.

3. Reset the phone. Go to Settings (General), Reset iPhone, Erase all Content and Settings.

4. Remove the SIM card

Apple Watch

1. Go to the Watch app and tap all watches

2. Unpair the Apple Watch (you may be asked for ID and password

3. Reset the watch. Go to Settings (General), Reset, Erase all Content and Settings.

For Both

1. Clean everything off thoroughly with a screen or a glasses cloth.

2. Take off any stickers, cases, or screen protectors

3. Put everything you have together, including boxes, cables, any accessories, the owner’s manual, and receipts (if you have them), 

Generally speaking, preparing the Apple Watch and iPhone for pawning in this way may lead to a better offer.

The Cash Express Difference

In providing fast cash to our customers, Cash Express is the number one pawn broker in Philadelphia, PA. Good quality watches and phones are two of the things we’re always on the lookout for. We’re happy to answer any questions you may have. You can reach us in three ways, besides visiting our store in person:

Our online contact form

Email us at info@pawnphiladephia.com, or 

Call our office at 215-922-1560