Gold jewelry and cash — comparing gold loan vs selling in Miami

Gold & Loan Guide · Iron Eagle Reserve · Miami

Gold Loan vs. Selling
Which Is Right for You?

A collateral loan lets you keep your gold and get cash — selling puts more money in your pocket but permanently. Here's exactly how each option works, and how to decide.

Iron Eagle Reserve · Licensed Buyer·174 E Flagler St, Miami FL·~7 min read·Updated May 2026

How a Collateral Gold Loan Works

A collateral loan — also called a pawn loan — uses your gold as security for a short-term cash advance. You keep ownership. The gold stays with us until you repay. Here's the process in four steps.

Bring in your gold — we appraise it

We weigh and test your gold using the same process as an outright purchase. The appraisal determines the loan amount — typically 50–65% of the item's current melt or market value.

Receive cash same visit

If you agree to the loan terms, you receive cash immediately. No credit checks, no income verification. The loan is secured by the gold itself — your credit history is irrelevant.

Loan runs for an agreed term

Loan terms vary — typically 30 to 90 days with the option to extend. Interest accrues on the outstanding balance. Florida regulates pawnbroker interest rates under F.S. Chapter 539.

Repay and reclaim your gold

When you repay the principal plus interest, you get your gold back — same items, same condition. If you choose not to repay, the gold becomes ours and the loan is considered settled. No additional debt, no collections.

How Selling Your Gold Works

Selling is simpler. You bring the gold in, we test and weigh it, you receive a cash offer, and you walk out with cash. No ongoing obligations. The key advantage over a loan: you receive a higher percentage of the gold's value — typically 75–92% of melt value versus 50–65% for a loan.

Walk in with your gold — no appointment

Mon–Sat 9AM–8PM · 174 E Flagler St, Downtown Miami

We weigh and test purity in front of you

XRF scanner or acid test. Takes 5–10 minutes.

You receive a cash offer

Based on live spot price · shown in front of you

Accept and walk out with cash

Same visit. No waiting, no checks to clear.

Want to know exactly what your gold is worth before walking in? Use our live Miami gold price calculator.

Loan vs. Sale — Side by Side

Same gold, same appraisal — two different outcomes depending on what you need.

	Collateral Loan	Sell Outright
Cash received	50–65% of value	75–92% of melt value
Keep the gold	Yes (on repayment)	No
Speed	Same visit	Same visit
Credit check	None	None
Ongoing cost	Interest over loan term	None
What if you can't repay	Gold kept — no debt	N/A
Best for	Temporary cash need	Maximum cash now

What Can You Use as Collateral?

At Iron Eagle Reserve, we accept a broad range of valuables as loan collateral — not just gold jewelry.

Not sure if your item qualifies? Walk in and we'll tell you immediately. No commitment required to get an appraisal.

Walk-in · No Appointment Needed

Get Your Free Appraisal — Same Visit

174 E Flagler St, Miami FL 33131 · Mon–Sat 9AM–8PM
Sell or get a loan — your choice, explained in full.

Get an Appraisal Ask About a Loan

Frequently Asked Questions

What interest rate do you charge on gold loans?

Florida pawnbroker interest rates are set by state law under F.S. Chapter 539. We'll present the exact monthly rate and total cost of the loan before you agree to anything. There are no hidden fees.

What happens if I can't repay the loan?

If you choose not to repay, we keep the gold and the loan is considered settled in full. There is no additional debt, no collections, and no impact on your credit. You simply forfeit the item.

How long is a typical loan term?

Standard terms are 30 or 60 days. Extensions are available if you need more time. Contact us before the due date to arrange an extension — we'll explain the additional interest cost upfront.

Gold Loan vs. SellingWhich Is Right for You?