Key Takeaways
- The best place to sell gold in Nashville is a coin and bullion dealer, not a pawn shop or jewelry buyer.
- Nashville Gold and Coin offers higher payouts because we buy for resale, not melt value.
- Our expertise in coins, bullion, and precious metals means you’ll get accurate testing and fair market offers.
Curious about the best place to sell gold near you in Nashville?
Find Out How to Get the Most for Your Gold
With the price of gold breaking new all time highs almost daily, people are looking for buyers of their gold in record numbers. One of the most common search terms used to find a buyer is “Best Place to Sell Gold Near Me.” I thought this would be a good topic to blog about because there are different types of businesses that will buy gold and some very key distinctions to be made between them that will affect how much you are offered for your gold, silver and precious metals. I’m writing this with the intention of helping you get the most for your gold.
There are primarily three types of businesses that buy gold, silver and precious metals on a daily basis:
- Pawn shops
- Jewelry buyers
- Coin and bullion dealers (like Nashville Gold and Coin)
Each type of business is regulated differently and operates differently which in turn affects how much they offer for your gold, silver and other precious metals.
Your best bet to get the most for your gold, silver or precious metals is a coin and bullion dealer like Nashville Gold and Coin.
Our primary function is the buying and selling of Gold, Silver, Platinum and Palladium coins and bullion. We are constantly dealing with coins, bars and collectibles produced by mints and refiners all over the world. Like other coin dealers and coin shops, we are well-versed in numismatics and bullion items. Since we deal predominantly with coins and bullion, we understand what to look for when purchasing these items and know the market for your particular items better than anyone else. Most importantly when it comes to coins, we can help you identify which coins to look for that may have numismatic value well above their precious metals value. Given that this is our primary business activity, we buy your items for resale in their current form, not with the intent to melt them. This allows us to resell quickly, without the regulatory hold times imposed on scrap jewelry buyers and pawn shops. Our success depends on moving more inventory quickly at a small, reasonable return. Additionally, we have top quality testing equipment, limiting our risk of purchasing counterfeit items. Finally, as a coin and bullion dealer, we have access to clients who are looking to purchase your items from us. This allows us to offer you more, knowing that we can resell quicker and at better prices than other business models. There is no question that coin and bullion dealers like Nashville Gold and Coin can consistently offer you more for your gold, silver and precious metals than other business types who buy gold.
Jewelry buyers or scrap buyers, such as many “We Buy Gold” places, are far more regulated than coin and bullion dealers. Since they are exposed to a higher risk of encountering stolen merchandise, they are required to hold all merchandise for a statutory period of time before they can sell, exchange, barter, remove, or alter the items (remounting, melting, cutting, etc.). This exposes them to great market risk if the price of the underlying metal fluctuates in price. Since this risk must be priced into their offer, it should be expected to be less than an offer from a coin and bullion dealer who can move the product immediately. Additionally, the regulatory requirements for record keeping and reporting place an administrative burden on such businesses that increase the cost of their overhead beyond that of coin and bullion dealers.
Pawn shops are the third type of business who buy gold and silver coins and bullion. These businesses must operate on bigger margins to account for extreme regulation and reporting requirements. They are subjected to the longest statutory holding times, which exposes them to the greatest of risk of losing value if the price of precious metals falls between the time they purchase and the time they are able to sell the items. Additionally, pawn shops by nature deal in all sorts of items: tools, instruments, electronics, guns, etc and therefore must know a little about a lot rather than knowing the market for gold and silver coins and collectibles intimately. Finally, the clientele who utilize pawn shops are often under financial pressure to act quickly. These circumstances often mean that their customers are willing to take less than market value for their items, increasing the likelihood of offers well below value.
Here’s a breakdown of the differences (in law, function, and regulation) between pawn shops, scrap jewelry buyers, and precious‑metals dealers in Tennessee. If you want, I can also tell you which is likely to give you the best price when selling a ring or gold piece.
| Type | Main function / business model | What they usually deal in | What they might do with items you bring | How they rank in terms of payout |
|---|---|---|---|---|
| Pawn shop | Makes secured loans against personal property as collateral (i.e., you “pawn” an item) or also buys goods outright. | Jewelry, electronics, tools, musical instruments, and more. | If you redeem (repay the loan + interest) they return the item. If not redeemed, they may sell it. They may also outright buy things you don’t intend to pawn. | Lowest due to extreme regulation and the amount of time they must hold items; limited knowledge of products and markets due to the variety of items they handle. |
| Scrap jewelry buyer | Buys used, broken, or unwanted jewelry (or other precious-metal items) for the metal content or resale. | Gold, silver, platinum jewelry, sometimes scrap or broken bits. | Typically assay (test) the metal, melt it down, strip non-precious components, or resell as raw metal or parts. | Mid tier due to regulations and hold times; may not have sophisticated testing equipment (increasing risk); buy for metal content only. |
| Precious metals dealer (bullion/coin dealer) | Deals in (buys and sells) precious metals—often in refined form or as coins/bars—sometimes also jewelry. | Coins, bullion, refined bars, gold/silver, sometimes jewelry. | May buy refined metal, mint bars, resell coins, or purchase jewelry (especially if high purity or collectible) and then refine or resell. | Highest due to superior knowledge of coins and markets; access to many buyers; operate on greater volume and thinner margins. |
In conclusion, if you find yourself searching for the “Best Place to Sell Gold Near Me,” we hope that you will at least give us a chance to offer on your gold, silver and other precious metals. We are constantly monitoring the markets for coins, bars and bullion so that we can pay you more for your items. Thank you for reading. We look forward to hearing from you soon at Nashville Gold and Coin!
Summary:
When searching for the best place to sell gold near me in Nashville, your top option is a professional coin and bullion dealer like Nashville Gold and Coin. Unlike pawn shops or jewelry buyers, we specialize in buying and selling gold, silver, and collectible coins every day. This allows us to offer higher payouts, faster transactions, and transparent evaluations based on current market prices. Our office in Belle Meade, Nashville provides private, secure appointments and expert testing to ensure you get the most for your gold and silver.