If you’re in a pinch for cash, jewelry can seem like one of the most attractive items to pawn. However, pawning jewelry is not a financially sound decision. Whether you’re in need of immediate payment or are simply looking for a better return on your investment, the best place to sell your jewelry is to a reputable jewelry store.

A pawn jewelry shop will typically pay between thirty to sixty percent of an item’s wholesale value as a loan. If you fail to redeem your jewelry within a specific time period, the store becomes the sole owner of the piece. As a result, it’s very important to consider the consequences of pawning your valuables and make sure you’re prepared for the worst-case scenario.

Pawn Jewelry: What You Need to Know

On the other hand, if you’re willing to take on the risk and can afford to lose your valuables, a jewelry pawn shop is an excellent option for finding unique pieces that are hard to find at traditional jewelry stores. If you’re a fan of treasure hunts, love vintage jewelry, or are in need of a special gift for yourself or someone else, shopping at a pawn shop may be just the ticket.

If you’re considering pawning your precious jewels, it’s always wise to have your jewelry appraised by a professional. Since pawn shops only purchase pure gold, silver and diamonds and turn down costume or gold-plated items, it’s crucial to know exactly what your jewelry is made of and its worth before you take it to a pawn shop.