Pawn shops offer a wide range of products, from consumer electronics and musical instruments to collectibles and even jewelry. But, as a general rule, the staff at pawn shops are not experts in all of these product categories. This isn’t a big deal for gold wedding bands or other common items, but it can be an issue with other types of jewelry that may have value beyond the pure gold content, such as diamond rings.Read more:usapawnandjewelry.com

When it comes to pawning jewelry, condition is a very important factor. However, it shouldn’t be the only factor pawnshop employees consider. Other factors, like karat purity and weight in grams, pennyweights, or troy ounces, and the current spot price of gold may also influence the amount the shop will offer for an item.

Tips for First-Time Jewelry Buyers at Pawn America

The pawn shop staff will also be looking at the gem’s cut, clarity, and carat (size). If possible, bring any documentation of these factors to help them make an accurate assessment of your jewelry. Some pawnshops, including Pawn America in Minnesota and Wisconsin, have in-house GIA graduate gemologists who can provide professional appraisals for customers.

The pawnshop will then determine how much to loan on the collateral. This will be based on the item’s overall value, its condition and its ability to sell. This is why it’s important to do your research, find a reputable pawnshop, and understand the terms of your loan or sale before pawning or selling any luxury item.