How to Find Cheap Jewelry at a Pawn Shop

Many people associate jewelry purchases with high-end boutiques and large retail chains. But, savvy shoppers are turning to their local pawn shops for the pieces they need without breaking the bank. Pawn shops source their jewelry from forfeited collateral on pawn loans and also purchase it outright from customers. Consequently, they can offer prices significantly lower than traditional jewelry stores.

Before you head to a pawn shop, do your research. Find out what your jewelry is worth by getting it appraised and/or inspected. A reputable jeweler or appraiser will be able to provide you with a detailed breakdown of your jewelry, including its pure metal value and if it contains any genuine gemstones. This will help you figure out how much jewelry to pawn. It’s important to remember that a pawn shop will only give you about 60% to 70% of what your jewelry is worth.

How to Pawn Jewelry for Quick Cash

Pawn jewelry is primarily interested in the pure metals found in jewelry, like gold and silver, and they typically turn down gold-plated pieces and costume jewelry. It’s also a good idea to determine how long you need to repay your loan, as pawn shops are allowed to keep your merchandise if you fail to pay back the debt by the allotted time frame.

Purchasing pre-loved jewelry from your local pawn shop is not only more affordable, but it is environmentally friendly as well. Reducing the demand for new jewelry, helps to limit the amount of mining and production that is necessary.