In the mid-2000s, select cities states nationwide tried to impose stricter requirements on pawnshops, secondhand stores, and junkyards. These recommendations came after years of customer issues, official police reports, and complaints about pawn shops being an easy and quick way to get rid of stolen property. Not only have pawnshops been known for buying stolen property, but they are also known for occasionally ripping off customers and giving them less for their items than they deserve.
In 2006 there were over three thousand burglaries in Rochester, New York alone. The majority of these items ended up in various pawn shops throughout the city. As a result of the stricter regulations and laws-in-the-making, pawn shops would have to maintain electronic records of items bought and sold on city-issued software and send daily reports to the local police departments of an inventory of items taken in. These issues aren’t only impacting Rochester, New York, but cities and states nationwide.
These measures would protect burglary victims from having their items sold to pawn shops, but what is being done to protect the potential pawn shop customers from being offered less for their items than they deserve? Unfortunately, there are no proposed laws or regulations put in place to protect customers from getting the short end of the stick in that scenario, but there are plenty of ways customers can prepare themselves.
One of the best ways to protect yourself against being taken advantage of when selling your gold jewelry items to a pawn shop is by knowing how exactly much your items are worth. That way, if a price is too low you can reason with the pawn shop owner or take your business elsewhere. You can find out the price of your items by visiting a jewelry appraiser, but if that doesn’t sound like something you’re interested in, there is an easier, more convenient, and cost-effective way to find out the worth of your gold.
By using a gold calculator online, you can quickly find out the worth of your gold. All you have to do is enter the weight and karats of your gold, which is then evaluated in accordance with the current national average price for gold. The price produced by the gold value calculator is a great launching pad for your expectations during a transaction at any pawn shop, and one of the best ways to protect yourself against being ripped-off.