Serving Salem · North Shore
Pawn shop & gold buyer — 15 minutes from Salem.
Sherman Loan Company is a short drive from downtown Salem, straight down Route 107 or 1A into Freeman Square, Lynn. Salem customers have made the trip for generations — because 85–90%+ of melt beats any mall kiosk's 50–70%, every single time.
4 Freeman Square, Lynn MA — Mon–Fri 10am–5pm — Next to the Mosaic Apartments, across from Lynn Community Health Center
Getting here from Salem
Driving
About 15 minutes via Route 107 (Highland Ave) or coastal 1A. We're at 4 Freeman Square in downtown Lynn, next to the Mosaic Apartments — look for the three gold balls over the door.
Commuter rail
Salem and Lynn are one stop apart on the Newburyport/Rockport line — we're a five-minute walk from Lynn's Central Square station.
Worth knowing
Call ahead with karat and rough weight and we'll give you an estimate before you leave Salem — (781) 598-4567. Se habla español.
Salem customers bring us everything from estate jewelry and old coin collections to broken chains — we pay 85% of melt on any lot, 90%+ over $1,000, tested on a lab-grade XRF analyzer while you watch. Rather keep the piece? Borrow against it instead — no credit check.
Today's payout — live
What your gold is worth right now.
| Karat | Under $1,000 (85%) | $1,000+ lots (90%+) |
|---|---|---|
| 10K | — | — |
| 14K | — | — |
| 18K | — | — |
| 22K | — | — |
| 24K | — | — |
Estimates use the live gold spot price and standard karat purities. Your final offer is made in person after we verify weight and purity on our Niton XL2 XRF analyzer. Prefer to plug in your own weight? Use the full calculator.
Common questions
Payout. Most gold-buying shops and kiosks pay 50–70% of melt value; we pay 85% on any lot and a minimum of 90% once your lot passes $1,000. On an estate lot, that difference is hundreds of dollars for a 15-minute trip.
No — walk in weekdays 10am–5pm. An appraisal takes minutes, it's free, and there's no obligation to sell.
Yes — we evaluate entire lots piece by piece, with a clear accounting of weight, purity, and price for your records, and pay the same day. Executors and families from Salem are regulars.
More answers on our main FAQ — or just call, we're happy to talk it through.
15 minutes from Salem — bring it by.
Weekdays 10–5 at 4 Freeman Square, Lynn. Free appraisal, cash the same visit.