November 24th, 2009 | 
Author: I have some half ounce gold coins that sell for $550.
I would like to find a pawn shop that would loan me at least
$150 to $200 on each. How much should I expect to pay
in interest for one month, two months?
I have some half ounce gold coins that sell for $550.
I would like to find a pawn shop that would loan me at least
$150 to $200 on each. How much should I expect to pay
in interest for one month, two months?
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Spot price for gold is currently $933.50US / Troy Ounce.
Your half ounce coin is worth half that, $466.62 at spot. The fact that they sell for $550 means that someone is making a nice premium selling them.
The Pawn shop is well aware of spot prices and will loan you a percentage of the spot price, not the $550 price. I don’t know what they will charge you for interest, whatever the market will bear.
Grandpa
About $40