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Sell Gold NY | Lombard Mutual Pawnbrokers & Jewelers | Since 1948

Sell Gold in NY sure it’s Easy | So How it really works

Simple Truth about turning old, unwanted Gold into Cash in NY.

1) if you want to sell Gold in NY, know that it is at an all time high. NY Gold Buyers will likely pay more than what you originally paid if you bought or inherited your gold a long time ago. This makes the sell Gold  headline so big these days. Don’t forget increased precious valuables in general is the key to today’s Gold Selling Boom.

2) What about the payout? Why do I get different offers if Gold Prices Today are fixed for everyone?  You’ll find that many NY pawn shops will offer varying payouts on selling your gold and likewise, pawning your Gold. This is the case because many factors come into play when a pawnbroker assesses your jewelry. Overhead, desireability, Gold quality, brand names, these are just a few factors all NYC Gold Buyers study. Just know you can always shop it around to see which pawn shop will offer you the highest payout for your gold, jewelry, watches or diamonds.

3) Why are Loans on Gold different than Selling your Gold? This is another case where each and every NY Pawnbroker will have differing numbers. Again, when pricing your Gold for a loan, the panwbroker must not only assess the value, but must also take on a larger risk in using the Gold or Jewelry as collateral. In essence, the Gold Buyer becomes a bank and is required by law to hold on to the item much longer than the pawn is in hand. This is to protect the customers and the pawn shop. 

Where do I sell my Gold in NYC

Most people know that the best place to sell gold in NYC is in the diamond district on 47th street. Why? For decades the Diamond District of NY has been the home to the Gold, Diamond and Silver trade of the East Coast. Many Jewelers, Pawnbrokers, Gold Buyers and Refiners have made NY’s 47th street their home for your jewelry needs. 

About NY’s 47th Street Diamond District 

Walking down 47th street, between 5th & 6th avenue is no easy accomplishment. Immediately you are approached with street hawkers, countless location options & hundreds of pawnbrokers. The rule of thumb is to not work with people on the street. You’ll likely see many signs posted by the Diamond District which helps to protect potential clients. While the choice is yours, the best place to turn your gold into cash is via the many reputable brokers located throughout the street.