If you have a piece of jewelry that has sentimental value and you’re looking for something to add sparkle to your life, it might be worth considering pawning the item. Pawn shops are a quick and easy way to get a little extra cash without having to sell your items for the full price. When deciding to pawn jewelry, it’s important to choose the right jeweler with the expertise and knowledge to accurately assess your diamonds and gold. At Diamond Banc we specialize in assessing second hand and pre-owned diamonds, luxury watches, upscale designer jewelry and gold & silver coins. Our team members are GIA-certified gemologists and former fine jewelry brand retail salespeople.
What is Pawn jewelry?
Pawn jewelry are known for their wide selection of goods and services. They make collateral loans (you give them your valuables and they lend you money) and they also sell items outright to the public at a fraction of their original retail price. They are popular during tough economic times, and people come to pawn their items for all kinds of reasons.
Pawn Jewelry: Tips for Getting the Most Cash for Your Valuables
Jewelry is one of the most common types of items to be pawned. It is important to remember that pawn shops only want pure gold and silver and will turn down plated jewelry, so it’s a good idea to bring your items to an appraiser or a professional jeweler for a free assessment before you consider selling or pawning them.
Many people pawn their jewelry and other items because they need the money quickly and don’t have time to go through the hassle of selling them privately or online. They can also avoid the high interest fees of traditional loan companies and credit cards. However, pawning your valuables for a small amount of cash is not a wise financial move and it’s recommended that you only pawn items that you can afford to pay back on the agreed upon date and time.