Pawning unwanted jewelry is a great way to raise some immediate cash for an emergency or to boost your liquidity and pay for a large expense. But what jewelry should you pawn and what should you not pawn? Discover a few do's and don'ts for better success.
Do Pawn Diamonds and Gems
Diamond jewelry is one of the most commonly pawned items and something that you can nearly always sell to your local pawn shop. They also usually fetch the best prices due to the universal popularity and consistent value of diamonds. So if you're deciding among pieces, you're likely to get the biggest value from diamonds.
You can also get good value from most precious stones - including rubies, emeralds, and sapphires. Semiprecious stones aren't always as valuable, but they can serve as a backup or complementary sale.
Don't Pawn Most Fakes
Check to see if your jewelry is real before you head to the pawn shop. Costume jewelry, of course, won't net the price you expect from real jewelry - and you want to find out this at home rather than at the shop counter. Look for metal markings identifying the manufacturer, karats, and weight. Try a magnet test (gold doesn't stick to magnets) or other simple checks to make sure you know what you've got.
Costume jewelry isn't valued by the same standards as real jewelry, but you may still be able to work with it. If a particular style of costume pieces is popular right now, you may have a case for a decent price.
Do Pawn Gold and Silver
Along with diamonds, gold and silver metals are good for pawning. The advantage of gold and silver is that you can sell them as individual wearable jewelry pieces or as scrap metal. Most people have scrap metal in their collection - including broken chains, settings with missing gems, old rings, and outdated pieces. Individually, these may not seem like much, but they do build value together.
Don't Pawn Sentimental Pieces
Whatever emergency you face, reconsider selling jewelry that has strong sentimental value to you or your family. Gaining cash through either a sale or a pawn loan should be a positive experience that makes things easier. But if you put something with personal connections at risk, you could add to your emotional challenges. This should only be done if you have a plan to pay off the pawn loan on time.
Before you sell an heirloom necklace, your grandmother's (or your own) engagement ring, or a watch you wanted to give to your child, look around for other items that you may be able to substitute instead. Jewelry isn't the only type of asset that pawn shops want, so you might sell things like electronics, firearms, mobile devices, real metal flatware, or collectibles - all of which often have less sentiment attached.
Do Pawn Watches
Have you considered the value of your watch? Watches are an underrated but potentially valuable item that pawn shops want. They may be more difficult to pawn for their true value than more common items like gold chains and gemstones, but watches can net thousands of dollars. The trick is to understand the value of your watch in the lucrative watch market, so take some time to familiarize yourself.
Want to know more about what jewelry to bring to the pawn shop and what to leave at home? Stop by or call the team at 2 J's Pawn & Gun. We will help you assess what you have and decide on the strategy that results in fast cash with less stress. Get started today with a visit.
