Many pawn shops sell two very different kinds of merchandise side by side: gold and silver jewelry in one set of cases, and firearms in another. Both are high-value, both draw serious buyers, and both are priced in completely different ways. This article looks at how to manage both pricing systems on one floor without errors.
General information only. Firearms and pawn transactions are regulated at the federal, state and local level. Follow ATF, state and local requirements.
Two kinds of inventory, two pricing logics
Gold and silver are priced largely from the market. A 14K chain's value depends on its weight, its purity and the current gold price, plus a premium for craftsmanship and your margin. When the gold market moves, the right price moves with it. See our guide to how pawn shops can display accurate gold prices.
Firearms are priced like other used goods: make, model, condition, local demand and what comparable guns have sold for. Prices change when you decide, often on a markdown schedule, not because an outside market moved.
Running both well means having a clear method for each, and keeping each set of tags accurate.
Regulatory differences to keep in mind
- Jewelry descriptions are covered by the FTC's Guides for the Jewelry, Precious Metals, and Pewter Industries (16 CFR Part 23). For example, alloyed gold should carry a karat designation like "14K Gold," and "sterling" requires at least 925 parts per thousand silver. What's on the tag should match the item.
- Firearms are covered by federal firearms regulations. ATF's rules specifically define pawnbrokers as businesses that take firearms by pledge or pawn (27 CFR 478.11). Licensing, records and transfer requirements apply, along with state and local rules.
Pricing tools don't change these obligations, but your tags should support them: accurate descriptions on jewelry, and prices on firearms that match your records.
Practical setup for a mixed floor
- Separate the pricing rules. Gold and silver items get a formula tied to the market. Firearms get a set price and a markdown schedule.
- Decide how often each updates. Gold may need updating daily or more often. Firearms might change weekly or on markdown dates.
- Standardize tag content. Jewelry tags show karat or fineness, item type and price. Firearm tags show make, model, condition grade and price.
- Keep shelf and register in sync for both. In many states, inspectors test shelf prices against the register using the NIST Handbook 130 procedure; a store passes at 98% accuracy or better. A mixed floor doubles the ways to get it wrong.
Where digital tags fit
PriceTaglet was built for the jewelry and bullion side: tags are configured by metal type, weight and karat, and the hub recalculates prices as gold, silver and platinum spot prices move. For pawn shops, that's the core of what we do today.
The same E-Ink tags, hub and dashboard can also show manually set prices, which is what a firearms case needs. Tools designed specifically for firearms pricing, such as markdown schedules and tag layouts for gun details, are what we want to build next.
If you run a pawn shop with a gun counter, you're an ideal pilot partner. We'd like to work with a shop that uses PriceTaglet on its jewelry cases and helps us design the firearms side. Reach out through our early access page.
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PriceTaglet
Price tags for your retail workflow.
PriceTaglet is price-tag technology for all retail operators, with ready-made software primarily for coin stores. Tags can integrate with POS systems; contact us to assess compatibility with your setup.
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