buying gold from pawnshop.

[damienloh]

Anyone bought gold jewellery from pawn shop before?

[SpEr]

Personally, i think that buying from Pawn shop is good for investment?
It doesn't charge GST and workmanship.

But some people might find it bad luck to buy something that someone pawn.

[chiamcc]

Bought once, lower price but not for investment. Jewellery cannot use as investment. Physical gold bar and paper gold from reputable institution ok.

[SpEr]

Pawn shop gold can keep as investment no?

[chiamcc]

Pawn shop gold can keep as investment no?

I am afraid not because u tend to lose a lot during resale.
Physical gold bar/paper gold follow actual market rates when u sell.
Anyway, i am no expert but happen to have done some homework before i invest in UOB paper gold few months ago...

[hugoleong]

i happen to ask on the resale price of Gold before on the few jewellery & pawn shop. Please take note, the resale value so far the highest will be only 75% of the market value.

Whoever need to use gold to be an investment please think twice.

unless you bought a 99.999 gold bar then the value will be different.

[hugoleong]

87.5 is the normal rate. Controlled one.

I did get some 916 gold and try to get it sell on the pawn shop around bukit batok, SK, Tian Po. the ans was shown in above. so i really dont know where to get 87.5 rate . anyway i just share my experience.

[theOrion]

My take is, buy the physical gold bars. Paper is only good as long as nothing happens to the bank.

[dtctan]

The benefit is you that you save on the GST, workmanship charges a slightly cheaper gold price.

[Ken3]

maybe physical gold bars?

but price compared between pawn shop & bank shld be the same rite? since there's no workmanship or gst for both...

[dongfang richard]

I personally always enjoy buying 999.9 gold and 916 gold from pawnshop. They do not charge you for the making cost and GST.

Used gold and new gold not much of difference. Especially 999.9 gold bars.. normally kept in the safe.

You can easily calculate the per gram cost from the pawn shop and from the bank, goldsmith or Mustafa centre after adding the hidden costs.

Which one will be cheaper?

Just my 2 cents worth.

[damienloh]

I just bought one bangle 2 days ago from moneymax, saw there is 3 hall mark, one look like lion, one engrave something like 916 and one don't know maybe shop name but, don't look so blur, don't seem like any chinese character as well. am having doubt of the gold content, i start this tread because, in my life never buy any gold from pawnshop before. So check with bros here.

[damienloh]

gold price all time low now for 916.

[chiamcc]

I just bought one bangle 2 days ago from moneymax, saw there is 3 hall mark, one look like lion, one engrave something like 916 and one don't know maybe shop name but, don't look so blur, don't seem like any chinese character as well. am having doubt of the gold content, i start this tread because, in my life never buy any gold from pawnshop before. So check with bros here.

I think 1 or 2 pieces of gold jewellery for wearing still ok to purchase from pawn shop, if you happen to see any catches your eyes in the shop. Gold purity/content wise should not be a big issue.
But when you come to 999.9 finess gold bars, think better to buy from banks/other more reputable institutions for future resale guarantee. Bear in mind that storage/security for physical gold bar is a major concern indeed.

[chiamcc]

If I am not wrong, gold bars u buy from bank and gold shop are at different price (20+ % difference) - I mean the gold price alone, no workmanship invloved.
Gold shop charges a premium to the international gold price but bank sells at actual price.
Correct me if i am wrong. Thanks.