Can I Pawn My Wedding Ring?(With Actionable Tips)

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Wedding rings hold a significant meaning in a marriage. They are a symbol of the love and affection you share as a couple. They are also proof of the oath you took to be loyal and committed to one another.

Given its meaning, it’s no surprise that you may have spent a lot of money to get the perfect wedding ring.

What happens, however, in a not-so-perfect situation when you think of pawning off your wedding ring? Is it possible, or right?

In this post, we answer all these questions as well as discuss the difference between pawning and selling your ring.


Should you pawn your engagement ring or wedding ring since divorce or breakup?

Despite the fairytale stories of happy ever after or the happy ending in every romantic movie, marriage isn’t always rosy. Due to very many factors and changes in a relationship, the love may fizzle out and the marriage may end. Today about 40-50% of marriages in the US end in divorce or separation.

Can I Pawn My Wedding Ring

When the marriage is over and the couple separate then technically the wedding ring may not mean as much anymore. Depending on how the marriage ended or whether you find yourself in a financial bind after divorce, you may think of pawning the ring.

Whether or not you should pawn the ring is a matter of preference. Before thinking of doing anything with the ring, first, consider what the law states about ownership of a wedding ring after divorce. In most states, wedding rings are seen as gifts or token, so aren’t included as assets during a divorce. That means that even after a divorce, you have full rights over the wedding ring and can do whatever you wish with it.

In some states like California, by law, the wedding ring is seen as a condition of marriage. If the marriage no longer exists then the ring is entitled to go back to the one who bought it. This can still differ based on the situation that caused the marriage to end. So, ensure you confirm with your attorney, about your ownership over the ring. If you have full rights, then there should be no problem in you pawning the wedding ring.


The Difference Between Pawning and Selling Your Ring

If you have full rights over the wedding ring and the freedom to do whatever you want, there are several options to consider. Two of those options are pawning or selling the ring. These options are different and each has its pros and cons.

Can I Pawn My Wedding Ring

Pawning your wedding ring, for instance, involves using it as collateral damage to get a loan from the pawnshop. You can get the ring back after clearing the loan including interests and other additional fees. Failure to clear the amount within the agreed time means that the pawnshop owner has full rights over the wedding ring and can sell it. Choosing to pawn your ring, could be for various reasons. Maybe you aren’t ready to fully part with it and are only in need of money at the moment. You should, therefore consider the risk involved in losing the ring for good if you can’t pay back the loan.

Selling the wedding ring, however, is a more permanent way of getting rid of the ring. It involves exchanging the ring for money based on the value. You could sell the ring at the pawnshop, although you’d get less money for it than if you pawned it. Buying the ring from you is considered riskier for them since they have to resell it and won’t get some interest or fee charges. So, if you are going to sell the ring, it’s better to sell it to a jewel store. They will pay more money for it because they can repurpose the material of the ring. Keep in mind, however, that once you sell the ring you can’t get it back.

For both options, however, the value of the material used in the ring is very important. The more valuable the metal or diamonds the more money you will get from either pawning or selling. In any case, a jeweler will always give you more money than a pawn shop owner. That is because a jeweler understands the value of the ring better than a pawn shop owner whose main concern is making a profit.


How much will a pawn shop give for a wedding ring? (Average)

Can I Pawn My Wedding Ring

As we’ve already discussed, a pawnshop owner is out to make a profit, so good luck getting a decent amount of money pawning your ring.

Still, aside from profit, the owner also considers the value of the wedding ring itself.

As a rule of thumb, a pawnshop owner will pay an average of 30-60% of the actual value of the diamond. The actual amount you get will be affected by various factors.

One factor is the overall condition of the ring, that is, how the ring has aged and how long you’ve had it. Additionally, the value of the materials used will also determine the value you get for it.

Aside from the value of the type of metal used, the pawnshop owner will also gauge the value of the diamond used. He or she will look, at the size, shape, and cut of the diamond. The quality of the diamond will also be considered based on the color, clarity, and carat of the diamond.

The better the shape the ring is in, the more you will get for it. Also, the more valuable the metal and diamond used, the more money you’ll receive. The exact amount can only be determined after examining the ring physically.

Keep in mind, however, that whatever amount you get for the ring will not be what you bought it for. The amount is bound to be less because the ring has been used and is no longer brand new.


Tips for Pawning Your Wedding Ring.

Can I Pawn My Wedding Ring

There’s no point in holding on to a valuable wedding ring after a divorce, especially when you need the cash. If you decide to pawn rather than sell the ring, here are a few tips that will ensure you get the best value:

1.Never settle on the first offer. 

When pawning your ring, it’s a good idea to get multiple offers from different pawn shops.

 Only then can you settle on the offer you find most suitable.

If you settle on the first offer, you may miss out on better offers from other pawn shops.


2.Have an understanding of how pawn shops value rings. 

This knowledge will help you easily identify a good deal or if you’re being ripped off.

Without this understanding, you could also walk out on a great deal, because you feel the amount offered is too little.

Keep in mind that you won’t get the same price you bought the ring for.

Also, when pawning the ring avoid adding emotional value to it, such value is not important for the pawnshop owner.

Can I Pawn My Wedding Ring

3.Use online platforms. 

With the advancement of technology, there are many platforms you can use to get multiple offers easily.

There are some free online sites like Pawn Guru that allow you to create a free listing for the ring. Different pawnshops will view it and give their offer.

You can then pick your best offer and take the ring to the pawnshop to finalize the deal and terms or repayment.



Before deciding whether or not to pawn your wedding ring, consider all your options.

If you don’t mind losing the ring for good and want more money, then selling it to a jeweler would be a better option.

Just ensure you are well informed before taking any step.

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