Gold prices are on the rise, meaning that some Detroiters may be wondering how and where they can sell their gold to cash in on this trend. There are three shops in Metro Detroit that are good places to sell your gold.
Detroit, MI 48235
American Jewelry and Loan shop is located on the corner of Eight Mile and Greenfield. This place is more lenient as to what they will accept. For example, a lot of pawn shops don't like to accept jewelry pieces that they already have enough of. When other pawn shops won't buy the popular ring that is sitting in the glass window with a similar style, this pawn shop is more likely to buy it back.
Clinton Township, MI 48035
This pawn shop is a place that offers competitive to above-average prices for gold. If you are looking to sell your gold jewelry, this is the place to go. I chose this pawn shop because after visiting several pawn shops in the area and in Detroit, this location had more reasonable prices and it was easy and fast to sell gold here.
Southfield, MI 48034
Max Your Gold in Southfield will let you sell your gold for a good price. This jewelry store is great because they educate customers on selling gold and tell you on their website how much they are willing to pay. First-time gold sellers should know how much gold they are selling and the percentage of pure gold per karat. The Max Your Gold website has a troy ounce converter that allows you to put in their price per gram and the karat and calculate the price of troy ounce.
I've been to several different pawn shops in the Metro Detroit area and have found that the amount pawn shops will pay for gold jewelry is within a $20 difference. Be prepared to answer how much you were offered for your jewelry at other places. Most pawn shops know that people are trying to get the best deal and will try to match the other price. It might not be the best idea to go to a fine jewelry store to sell gold because they will offer only OK prices.
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- pawn shops
- troy ounce converter
- Metro Detroit