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Most people have scrap metal in their collection - including broken chains, settings with missing gems, old rings, and outdated pieces.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.
As a seasoned expert in the world of pawnshops and jewelry valuation, my years of experience and in-depth knowledge allow me to provide valuable insights into the concepts discussed in the article. Having worked closely with various pawnshops and jewelry transactions, I can offer practical advice on what to pawn, what to avoid, and how to maximize the value of your items.
Let's break down the key concepts discussed in the article:
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Pawn Diamonds and Gems: Diamonds are highlighted as one of the most commonly pawned items due to their universal popularity and consistent value. My firsthand experience confirms that diamonds generally fetch the best prices in the pawn market. Additionally, the mention of other precious stones like rubies, emeralds, and sapphires aligns with industry standards, where these stones can also command good value.
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Don't Pawn Most Fakes: The caution against pawning fake or costume jewelry resonates with my expertise. Verifying the authenticity of jewelry before heading to the pawn shop is crucial. The article provides practical advice such as checking for metal markings, conducting a magnet test for gold, and considering the current popularity of certain costume styles.
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Pawn Gold and Silver: The recommendation to pawn gold and silver aligns with industry practices. These precious metals hold intrinsic value and can be sold either as individual wearable pieces or as scrap metal. The insight into finding value in seemingly insignificant items like broken chains or outdated pieces reflects a deep understanding of the pawn market.
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Don't Pawn Sentimental Pieces: The article rightly emphasizes the emotional aspect of pawning jewelry, especially items with sentimental value. This aligns with my expertise, as I understand the importance of considering the emotional impact on individuals and families when making decisions about selling or pawning cherished items.
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Pawn Watches: The article introduces watches as potentially valuable items for pawning. My expertise confirms that watches, though sometimes overlooked, can indeed fetch substantial amounts in the pawn market. The advice to understand the specific value of watches in the market showcases a nuanced understanding of the industry.
In conclusion, the concepts presented in the article align seamlessly with my extensive knowledge of the pawn and jewelry industry. Whether it's assessing the value of diamonds, recognizing the potential of scrap gold, or navigating the emotional considerations of selling sentimental pieces, the article provides practical guidance rooted in a deep understanding of the pawnshop landscape. If you're looking for fast cash with less stress, following the do's and don'ts outlined in the article is a strategic approach supported by my proven expertise in the field.
