If you have a piece of jewelry that you no longer wear, you may be considering ways to turn it into cash. Two popular options are selling and pawning. Which one is best for you?

Before bringing your jewelry to a pawn shop, take the time to do some research. Look for a local shop with a good reputation and read reviews on Google and Facebook. A reputable pawn shop will treat you with respect and offer you a fair price for your jewelry. You should also gather any receipts or certificates for your pieces. Presenting these documents will help you establish credibility and transparency with the pawnbroker, which can significantly increase your bargaining power.

Understand What it Means to Pawn Your Jewelry

When you pawn your jewelry, you are agreeing to lend the item to the pawn shop for a set amount of time, at a rate of interest. If you repay the loan within the agreed-upon time frame, you get your jewelry back. If you don’t, the pawn shop keeps it.

Jewelry buyers near me are primarily interested in pure metals, like gold and silver, and diamonds. They will generally reject costume jewelry and plated pieces. Before you bring in your jewelry for pawning, be sure it is made from a pure metal and that there are no scratches or dents. Then, you can make an informed decision. If you are unsure, have your jewelry appraised by an expert jeweler or an accredited appraiser.