Both pawn shops and coin dealers buy gold and silver, but the prices and processes are very different.
Pawn Shops
Pay the least -- often 60-80% of melt value. Fast, no shipping, instant cash. Good for small jewelry or scrap. Bad for sovereign coins or recognizable bars -- you are leaving a lot of money on the table.
Local Coin Dealers
Pay 85-95% of spot for recognizable coins and bars. Slower negotiation but much better prices. Some specialize in numismatic coins and will pay collector premiums for high-grade pieces.
Online Bullion Dealers
Pay 95-99% of spot for sovereign coins and recognized bars. You ship first; payment arrives in days. Best price for large lots of recognizable bullion.
Rule of Thumb
Use pawn shops only for items you cannot easily resell elsewhere (broken jewelry, dental gold) or when you need cash today. For anything over $1,000, get a quote from a coin dealer or online bullion buyer first.