It is common knowledge that gold is bought and sold in pawn shops. However, they must ascertain the gold’s worth and legitimacy before they buy any of it. Pawn shops analyze gold in a variety of ways to make sure they are getting a fair bargain and are not being conned.
The acid test is a popular technique used by pawn shops to examine gold. This entails scratching the gold on a testing stone and then filling the scratch with nitric acid. The quality of the gold affects how the acid responds. The jeweler can then calculate the karat of the gold by seeing how the acid responds.
Pawn shops additionally employ XRF analysis. In this non-destructive test, the composition of the gold is examined using X-ray fluorescence. Without causing any harm to the object, the machine can detect the carat and purity of the gold.
Pawn shops may also test gold using a magnet. Since gold is not magnetic, anything that attracts a magnet is probably not made of pure gold. This approach is not infallible, though, as some gold may contain magnetic metals that have been mixed in.
Pawn shops could also conduct a visual examination to assess the legitimacy of the gold. They could search for stamps or hallmarks on the piece that denote purity and carat. Additionally, they could use a loupe to closely inspect the object for any wear or damage that might suggest it is not genuine.
I’ll now get to the pertinent questions. First off, Chumlee, whose real name is Austin Russell, is said to earn about $25,000 per Pawn Stars episode. Second, it’s been said that Corey Harrison, one of Pawn Stars’ stars, earns about $30,000 per episode.
Thirdly, the Philippines has more than 14,000 pawnshops, making it a well-known industry there. Last but not least, the Pawnshop Regulation Act of 2009 governs the operation of pawnshops in the Philippines. In accordance with this law, pawnshops must be licensed and must adhere to interest and penalty rates.
In conclusion, gold is tested and verified for authenticity before being purchased by pawn shops using a variety of techniques. These techniques, which range from acid testing to XRF analysis, aid pawn shops in determining the quality and carat of the gold. Additionally, the Philippines has approximately 14,000 pawnshops operating there, all of which are subject to the 2009 Pawnshop Regulation Act. Pawnshops are a well-known industry in the nation.