21st century has witnessed a new method of banking where you can get loan tantamount to millions without hassle or long distraught procedures. So, whether you accept gold bullion and lend cash in lieu of that or you want to buy gold bullion or other valuable commodities as a pawnbroker there are certain basic principles that you must check so that you don't become a partner in crime. Try to stick to the laws governing the pawn broking business and don't be lured by the valuables as everything that glitters is not gold. Pawn brokers should be well aware of the laws in NYC so that it doesn't mess up their business. So, if you want to judge whether the visitor is fake or true then as a pawn broker shop you must follow these steps. So, no matter whether it is precious gold bullion or any other valuable don't lend money to the visitor unless you are fully contented that the person is genuine. In order to do that you must check these.

1. Ask the visitor for a government approved identification card. If they are having the same then you can certainly lend money in lieu of gold bullion else it is affirmative that the gold bullion that they are offering may be a result of some crime committed by them.
2. If the visitor is willing to lend you or even sell you the gold bullion in lieu of cash then ask them for a proper paper of the ownership. Remember whether you are selling, buying or mortgaging valuables like gold bullion, watches, diamond jewelry, you must have a written document that acts as a suo-moto proof that the deal was done in accordance with the state laws.
3. If you are taking gold bullion or if they lend you gold bullion in return of cash then you must find out before hand that those products are free from any debt issue.
4. Hold the goods for a set period of time before doing anything with them - This allows stolen goods database checks to be undertaken. So, in case you are accepting the item like a gold bullion and being a reputed pawn broker in NYC if you don't want to hurt your prospects then ask the visitor that they will be paid the amount for the gold bullion or any other valuable that they are pawning or selling in lieu of cash only after a few days of verification.

If you keep these steps in mind then as pawnbrokers you can fare well in New York City and help a lot of masses who genuinely need money to finance their day to day chore.