Can I Pawn Gold Plated Jewelry?(Jeweler’s answer)

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We’ve found ourselves in situations where we have exhausted all the options to deal with hard financial situations, and we can’t think of any other ways of staying afloat, and in such situations where we are literally shoved to the wall, we just can’t give up.

So, it makes sense that in such situations, you may think of pawning off an expensive piece of gold-plated jewelry. But can you really pawn off gold-plated jewelry? And do pawn shops accept gold-plated jewelry?

To learn all you need to know about how to pawn your gold plated jewelry, here are the important basics about pawn shops and gold plated jewelry.

Can I Pawn Gold Plated Jewelry

Understanding the purpose of pawn shops

Pawnshops can be defined as collateral-based loans, which means that these shops issue loans that are secured by valuable items. And if you take something you own to the pawnshops and the pawnshop is interested in the item, they would offer a loan. In such cases, the pawnbrokers would keep items given to them until you’ve repaid the loan in full. In most cases, the value of the loan would be just a fraction of the item’s value.

In other cases, you’d sell the item to the pawnshop outright, although most pawnbrokers aren’t as enthusiastic about purchasing the items taken to them, which is because taking loans is a more profitable venture than the purchase of the item.

When repaying the loan, the pawnbrokers would require you to repay the balance on loan, which also includes the full loan amount plus added fees. The payment must be made before the deadline. In other cases, you wouldn’t return the money, and the pawnshop keeps the pawned item, with no collection actions and, the best part, zero action on your credit report.

Can I Pawn Gold Plated Jewelry

It’s also important to note that there is an interest rate applied to the loan. This is because the interest rate rules applicable vary from state to state and also because there are no cut-and-dried rates applied. That said, most pawn shops charge an interest/ finance rate of between 5% and 25%, although the rates could be higher in other states, with the state of Indiana, for example, charging interest rates of up to 36%.

Therefore, it is safe to note that pawnshops offer an option for anyone looking for some sort of financial redress.

That said, it’s important to keep in mind that when it comes to pawnshops, you shouldn’t provide (and they wouldn’t accept) outdated items, cheaply made, or hard-to-store items. Instead, you should take jewelry or gold coins, or any other high-value items.


Can I Pawn Gold Plated jewelry?

Maybe – you could pawn your gold-plated jewelry, but there are cases where you wouldn’t be able to.

Yes, it is a good idea to pawn the gold-plated jewelry if your jewelry is made of precious metals like silver. This is because gold and silver are both precious metals, and with a silver base metal, it means that the jewelry is already worth a lot on the market, which makes them great options for pawn shops.

However, you wouldn’t be able to pawn the gold-plated jewelry if it’s made of cheap metals such as stainless steel, brass, or zinc alloys. The pawnshops wouldn’t take these cheap metals because their value is significantly low, meaning the jewelry is almost of no value, and it won’t be accepted by the pawnbroker.

Can I Pawn Gold Plated Jewelry

Tips for pawning off your expensive gold plated jewelry

1.Pawn high-quality jewelry

To pawn jewelry, make sure that the piece is made of quality gold and sterling silver. These pieces have a high value which makes them a great option for pawning.


2.Get the piece appraised.

Before you pawn off that piece of gold-plated jewelry, it would be a great idea to get that piece of jewelry appraised. The plated piece might not be worth as much as the solid gold pieces, but getting it appraised ensures that you get your money’s worth.


3.Find the right shop to pawn it off

Different pawnshops will offer different interest rates, even for similar items. Some of the shops wouldn’t accept some kinds of jewelry like the plated pieces. So, it would be a good idea to walk and shop around for the best rates. Also, most pawnshops wouldn’t take the gold-plated pieces of jewelry.

Can I Pawn Gold Plated Jewelry

4.Prioritize the jewelry

It’s important to keep an open mind when it comes to jewelry pawning because your most valuable jewelry pieces might be the ones you are highly attached to.


5.Clean the jewelry first

Even with gold-plated jewelry, gentle cleaning will go a long way in increasing the value of the jewelry and getting the pawnshop to take the jewelry.


6.Don’t overestimate the jewelry’s value

Sentimental value won’t do a thing in increasing the jewelry’s value or quality.

Can I Pawn Gold Plated Jewelry


If you aren’t sure about pawnshops accepting gold-plated jewelry, the information above should help you make the best decision.

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