Pawn shops offer a jewelry pawn shop and easy way to turn unused items into cash. However, not all pawn shops operate the same and there are some who use high-pressure sales tactics to underpay their customers for valuables. Understanding what pawn shops are looking for and doing a little homework can help you get the most out of your pawning experience.

The type of jewelry that brings the most money in a pawn shop includes pieces with significant gold or silver content as well as gemstones. Even broken pieces can still have melt value. Electronics from smartphones and tablets to laptops and gaming consoles also have substantial value, especially if they include original chargers and cases. In addition, firearms bring in a lot of money thanks to their practicality and collector appeal.

It’s important to know that pawn shops typically weigh gold in pennyweights, an old-fashioned unit equal to 1/20th of a troy ounce. Therefore, a gold item’s weight will vary from one store to the next, so you should check its weight at home using a kitchen scale. It’s also important to separate 10 karat, 14 karat and 18 karat gold items as each has different values.

Friendly Neighborhood Pawn Shop: More Than Just Quick Cash

The pawn shop’s operating costs and profit margin will factor into the amount it can pay for your jewelry. This is why some stores are willing to buy more than others. It’s helpful to have a target number in mind based on your research.

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