Will Pawn Shops Buy Gold Filled Jewelry? For the longest period of time, gold has been the most valuable metal in the world and has served multiple purposes including ornamental beautification and has been used as a currency for trade in different parts of the world.
Considering its value, if you have broken gold-filled bracelets, earrings, watches and neckpieces or are simply just de-cluttering your jewelry box, you may want to stop by a pawn shop and turn them in for a great deal of money!
To make your trade in much easier, we will delve deeper into the type of jewelry that pawn shops invest in, identify a few reasons as to why pawn shops take gold filled jewelry and look closely into a few tips for pawning your jewelry at a pawn shop.
Pawn Shops Only Take Expensive Jewelry
The pawn shop business model has been designed to accept large volumes of gold filled jewelry as these seem to have a lot more value that single pieces.
Well, just because a gold-filled piece of jewelry is aesthetically pleasing and well maintained, this is never really an indicator of its value.
Appearance is just but a fraction of the final trade-in value, but the main things that matter are the quality and the karat purity of the gold used to make your jewelry, pennyweights and the weight in grams.
Additionally, pawn shops will freely take almost all our gold filled jewelry pieces if they come from a brand that is considered high-end or luxurious.
Also, if your gold-filled pieces have a hint of genuine diamonds, then you may have just hit the jackpot at a pawn shop!
Will Pawn Shops Buy Gold Filled Jewelry? Why or Why not?
Generally, a great number of the pawn shops that exist determine the worth of your jewelry pieces based exclusively on their metal content.
Unfortunately, gold filled jewelry doesn’t really have that much gold to be worth purchasing in small amounts. That said, we can establish that most pawn shops wouldn’t really take gold filled jewelry because they claim that it isn’t worth so much.
However much so, this entirely depends on the pawn shop itself. The pawn shops that end up taking gold filled jewelry often have to put up with the challenge of sorting through all the junk, then get rid of all the ferrous metal so that it can be taken to the refinery.
In as much as this is what should be done, it is quite time consuming and most times isn’t really worth the hassle. For this reason, any pawn shop that accepts to trade-in gold filled jewelry, only proceeds with the transaction if you have large amounts of gold filled jewelry pieces.
So, if you actually have enough jewelry saved up, you are likely to get a decent offer from your local gold buyers or jeweler.
Tips for Pawning your Jewelry at a Pawn Shop
Here are a few tips that you can keep in mind when you choose to pawn your jewelry at any pawn shop;
1.Always know the value of your jewelry pieces
Before walking into a pawn shop, you need to know the value of what you have.
Thing is, you are very unlikely to ever receive the full amount of any jewelry piece you pawn, simply because pawn shops are resellers and if you are unaware of your jewelry value, you may end up settling for way less than you actually should.
2.Always negotiate for a better price
The bargaining power at a pawn shop always rests upon the seller, in this case, you.
As long as you know the value of what you have, you are able to start your negotiations at a higher note and wouldn’t step down too much.
3.Ensure that your jewelry is clean
Would you really purchase unattractive jewelry? I bet not. In the same manner, there is no pawnshop owner who would want to have jewelry pieces that aren’t really presentable and attractive.
Also, jewelry that is in good condition often adds to the final trade-in value.
Knowing how to pawn your jewelry pieces right could build you an empire.
All in all, ensure to keep in mind the pawning tips we have given you and always keep track of the gold prices in the market right before you walk into a pawn shop to make your transactions easier.