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If you are looking to raise some extra cash, why not take out a gold loan?
If you have unworn and unwanted jewellery laying around your home,
then you can use it to raise cash quickly and conveniently.
History of Pawnbroking and Gold
Pawnbroking has a long and illustrious history. It originated in China, over 3,000 years ago, but there were pawnbrokers operating in Ancient
Greece and the Roman Empire too. Trading in your jewellery in exchange for money has a long and interesting history. Even a number of British Royals in history have taken loans against their crowns and jewels. Edward III pawned crown jewels to pay for an overseas campaign, while Charles I’s wife also pawned the Crown Jewels in Holland at the beginning of the Civil War.
Gold has been the most common form of money throughout history and is one of the few commodities that doesn’t usually lose its value, as demonstrated in Germany after the World Wars. Citizens whose wealth was mostly held in gold were in a stronger financial position than those without it.
The Demand for Gold
Gold has always been a valuable commodity, mostly because it is scarce, and in recent times new gold discoveries have proven uneconomic to mine. Just finding gold deposits worth mining is an expensive exercise, and one a lot of mining companies are not willing to undertake. With older mines becoming depleted, and few new mines being found, gold supply is
falling.
There was a time when gold was the hottest commodity, but recent changes in the market – and particularly the arrival of bitcoin on the scene have meant that demand for gold in Western countries is slowing down a little. Gold is still in demand globally, however, with China being a major gold consumer. Chinese gold demand in 2017 is the strongest in four years according to Bloomberg. India is also a major gold consumer, with Bloomberg noting that India more than doubled their gold imports in July 2017.
Why Choose a Pawnbroker?
Trading in gold is exciting, but it requires large capital investment upfront and a keen eye for trends and market fluctuations. The average person doesn’t have the time to watch the markets and understand the trends, but gold loan specialists and pawnbrokers take the time to learn about and
understand the markets so that they can offer competitive rates to their
customers.
Gold and other precious metals are hot commodities, so if you want to raise some money with your unwanted jewellery, your best bet is a pawnbroker. There are a number of pawnbrokers Brisbane you can visit, so look around for the best prices.
What’s My Jewellery Worth?
The things that are taken into account when determining an item’s loan value are its current value, potential future demand, and the ability to resell the item. With precious metal values fluctuating daily, pawnbrokers need to be able to keep on top of all the market trends and fluctuations to be able to offer a decent loan value for your items.
To have your jewellery valued, simply bring it into one of our Brisbane pawnbrokers for a quick and easy valuation based on the most up to date market rates.
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