Thursday, March 28, 2019

Fair Market Cash for Gold and How it's Used


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According to Naeem Aslam, contributor at Forbes, gold prices apparently hit a week high today, and continue to be abiding. Ever since came down to $1,046 back in 2015, it has been onward and upward since. Currently gold in San Clemente is trading at around $1,289.70 an ounce.

Gold is a precious metal because it is considered rare and to have a higher economic value compared to other metals. Of the five precious metals openly traded on various exchanges, gold is the biggest market. It often referred to as monetary metals, as it has historical uses as a currency and is seen as a store of value. While relatively small, gold does also have an industrial component because it is less reactive, a good conductor, highly malleable and doesn’t corrode. Therefore, modern day circuitry demands the use on mother boards found in desktop computers and mobile devices.

Many people ask, how pawn shops decide and price gold when it comes into their possession? The is answered by the weight and purity of the gold and further, the current market price per troy ounce.


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Thursday, March 21, 2019

Car Title Loan or Pawnshop?


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While car title loans offer you quick cash between $100 and $10,000 in exchange for your vehicle’s title as collateral. This type of loan is expensive, and be accompanied by astronomical fees and annual percentage rates frequently topping 260%. If yin need of a cash loan fast, you might seek other options, like asking for an advance on your paycheck or better yet visit a pawnshop in your area. They have even been known to loan money to small businesses. Often this stigma about pawn shops are an idea of a grandiose antique shop. This is not the case and they deal in high end jewelry, gold, and expensive electronics.

Just recently, CNBC did a story about the popularity in wealthy people pawning their valuables for collateral and quick small business loans. There are only a small group of companies enabling individuals to do this. According to their reports, this is largely because entrepreneurs are seeking much more than the average size of a loan from a pawn shop.

Pawn stores can offer this type of deal because the customer offers personally owned property as collateral, which significantly reduces the risk for the lender, therefore, when the customer pays the loan back, the property is returned. In the United States, over 80% of all collateral property is repossessed by the borrower.

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