How Much Will a Pawn Shop Pay for Gold Jewelry? | Chesapeake
Pawn and jewelry stores like Greenbrier Pawn have years of experience as a local jewelry buyer. If you want to sell gold jewelry for extra cash (such as yellow gold wedding bands, rose gold rings, white gold chains, and more), we're here to help. In fact, many people in Hampton Roads consider us the very best place to sell unwanted jewelry. Come in to get the highest prices for unwanted items from your jewelry box, based on things like condition, gold content, and current gold prices.
What’s the Value of Gold Jewelry?
Before selling your piece of gold jewelry, you'd probably like to know its monetary value. After all, you can't be sure that you're being paid the best price by the gold buyers you're working with if you don't know how much your unwanted gold jewelry is worth. For a free appraisal with no obligation, we advise that you stop by our local store. After all, there are just so many different factors that we (as well as other gold buyers) look at when appraising and making an offer on gold jewelry. The knowledgeable staff here at our family business will carefully look over your gold jewelry and make you a fair offer on the spot.
So, just how much is your gold jewelry worth? Well, first things first, we'll look at your piece of jewelry as a whole. Basically, what is the item? Is it a popular, trendy, or antique piece? Is it looking a little worse for the wear, or is it in like-new condition? Then, we'll start looking at other things more closely, such as the precious metals that the piece is made from, the value of any diamonds or valuable gemstones that are set in the piece, and various other factors. We also have to consider the current spot price for a troy ounce of gold, since this does vary from day to day; however, the gold market has been doing well lately, so you can get the most value and the most money for your pieces of gold jewelry (and more) if you sell now. Rest assured that when you use Greenbrier Pawn as your local gold buyer, you'll be paid the top value for your gold jewelry.
Do Pawn Shops Buy Broken Gold Jewelry?
You may know that pawn and jewelry stores like ours will pay top price for good-quality fine jewelry. What you could be wondering is if we'll buy your broken gold jewelry. The answer to that question is YES. We buy all old gold jewelry, no matter what its condition might be!
For one thing, because we are local jewelers with in-house jewelry repair professionals, there's a chance we can repair your gold piece. Because of this, we're still willing to pay the highest possible price for jewelry pieces that might not be in the best condition.
Even if your golden jewelry isn't really repairable, this does not mean it's not valuable. Gold has a high scrap value, even if the jewelry doesn't look good or isn't in wearable condition. We're still able to pay high values for broken gold estate jewelry. In fact, we do it every day! Bring us your old broken jewelry for the best resale prices. After all, there's no reason to hang on to broken jewelry that you can't wear when you can sell it for extra money instead.
In addition to buying broken gold jewelry, we buy other gold items, too! For example, Greenbrier Pawn is one of the best places around to sell scrap gold, dental gold, gold coins, and any other piece of precious metals for a fair price. Our retail store is the go-to spot to sell your valuable items for the highest price, and you can enjoy good customer service and a fast and convenient experience each step of the way.
What’s the Difference in 10k Gold Jewelry and 18k?
Many people who don't have much experience with jewelry don't realize this, but most jewelry isn't made from pure gold. This is even true with very high-end jewelry. Instead, most of the gold that is used to make jewelry is mixed with other alloys.
Pure gold, which is also known as 24K gold, is 100% gold. No other metals or alloys are included. When purchasing gold bullion bars as an investment, many people purchase 24K gold bars. However, 24K gold simply isn't a practical choice for rings, necklaces, bracelets, and other jewelry. Pure gold items are actually quite soft and pliable. Because of this, with pure gold jewelry, you have to worry about your rings becoming misshapen or your bracelets getting dented, even with just basic day-to-day wear. Most gold jewelry on the market is made from a range of 10K gold to 18K gold.
A lot of high-end, valuable jewelry is made from 18K gold. 18K gold is 75% gold and 25% other alloys. The other alloys might be silver, copper, or nickel. 18K gold is rich and vibrant in color because of its high gold content. Many people who have sensitive skin find that 18K jewelry is a better choice for them; after all, since there are fewer other alloys in the piece, there's less of a chance of a skin allergy being triggered. 18K gold jewelry is quite valuable. However, it isn't as durable as some other forms of gold. It may be a better choice for a necklace that you'll only wear every now and then, rather than an engagement ring or wedding ring that you'll wear all day, every day.
On the other end of the spectrum is 10K gold. In most countries, it's actually the lowest purity of gold that jewelry companies and retail stores can legally market as being gold. 10K gold is actually only 41.7% gold; the rest is made up of other alloys.
10K gold does have its benefits. For one thing, it's still valuable, although certainly not as valuable as 18K or 24K gold. It’s still shiny and beautiful, although the gold color isn’t as vibrant.. One total upside is the fact that 10K gold is typically much more durable, so if you're hard on your jewelry, it may be a better choice for you. Skin allergies are more of a concern for people who have sensitive skin. Many people choose 10K gold for everyday earrings, necklaces, and bracelets, but a lot of people choose a higher gold purity level for important jewelry, such as engagement rings and wedding rings.
There is an in-between option that is incredibly popular: 14 karat gold. 14K gold is 58.3% gold. Approximately 90% of all engagement rings are made from 14K gold. It's a popular choice for a reason: it offers a nice balance in-between the benefits of 10K gold and 18K gold. The price range falls somewhere in the middle; 14K gold is more valuable than 10K gold, but it's not as expensive as 18K gold. There are many affordable, nice engagement rings that are made from 14K gold. 14K gold rings have a nice gold color, but they're more durable than an 18K gold piece.
Jewelers and pawn shops often use a process known as an "acid test" to determine the purity level of any gold jewelry that is brought in. The test takes no time and is highly accurate. Additionally, with many pieces, the gold purity is actually printed somewhere on the piece, such as on the inside of a ring.
Basically, if you have 18K gold jewelry and 10K gold jewelry, the former is generally going to be more valuable. At least, this is true for the piece's melt value. If there are other factors to consider -- such as if the 10K gold ring has a nice diamond set in it, while the 18K gold ring is just a simple band -- then this might not be the case. Even if you don't know the gold purity level of your piece, it doesn't matter. We can assess it quickly. Also, if you bring in multiple gold pieces with varying levels of gold purity, don't worry; we won't pay you the same for all of it. We'll pay different rates for 24K, 18K, 14K, and 10K gold, and all are competitive prices.
Do Pawn Shops Buy Designer Jewelry?
Sometimes, our customers come in and want to look at our entire inventory. Others have a specific piece of jewelry in mind, such as a piece from their favorite designer. We like to maintain a great reputation for offering all of the different jewelry items that our customers want!
Since designer jewelry is so popular here, we will definitely pay you quick cash for any designer pieces you have. Naturally, this is true if your jewelry is made from gold, because all gold jewelry is valuable due to the current price of gold. However, we also buy designer jewelry that is made from other precious metals. For example, we buy designer silver jewelry and platinum jewelry. Next time you're looking to put some fast cash in your pocket, bring your designer jewelry to us. We offer a fast appraisal process and fast cash!
Do Pawn Shops Buy Diamond Jewelry?
In many cases, people bring us gold jewelry that features diamonds. It's a much better idea to sell your diamond jewelry to us instead of mail-in secondhand precious metals dealers. Many of those dealers will only pay you based on the value of the gold of each piece and will not even consider the value of the diamond. However, in many cases, the diamond is the most valuable part of a piece of gold jewelry! Of course, it's only fair for you to be paid for both the value of the gold and the value of the diamond!
In addition to assessing the value of your gold, we'll take a close look at your diamond before making you an offer. Our jewelry experts are highly experienced at diamond grading, and they'll handle the entire process accurately and smoothly, while offering you a better price.
For example, we'll look at the carat weight of your diamond; in general, a significantly bigger diamond is usually worth more, unless the smaller diamond is of a much higher quality. Speaking of quality, in addition to size, we also look at the color and clarity of your diamond. The more colorless your clear diamond is, the more it's worth. The fewer imperfections on the inside or outside of the diamond, the better. However, even lower-quality diamonds often still look great to the naked eye, and they're still valuable here. We also consider the cut of your diamond jewelry; a round cut diamond is going to be the most valuable.
Also, remember that we will buy diamond jewelry that isn't made from gold. For example, people bring us diamond rings that are made from platinum or sterling silver instead. We even pay top dollar for loose diamonds, if you have any! Because we're diamond buyers, we're always happy to buy diamonds and diamond jewelry!
How Much Do Pawnbrokers Pay for Gold?
How much do pawnbrokers pay for gold or how much does a pawnshop pay for gold are some pretty common questions. It's natural to be curious about how much you can expect to get paid for your unwanted gold! Unfortunately, when you want to sell or pawn gold jewelry or other gold items, it's hard to answer "what do pawn shops pay for gold?" It really varies depending on the specific item that you're selling. Visit our pawn shop in Chesapeake, VA for answers. Greenbrier Pawn is the best pawn shop near me in Hampton Roads, and we will make an offer on your gold on the spot.
Any time that you're looking for the best option to get a high cash payout for gold jewelry -- as well as designer jewelry and diamond jewelry -- our professional staff will help. In addition to being a reputable gold buyer, we are also platinum and silver buyers. Skip the other local jewelry stores and pawn shops; at Greenbrier Pawn, we are the only local buyers that you need!
Ask Us About a Pawn Loan Instead
A Personal Loan lets you keep your valuables
If you would prefer not to lose your items, you can always ask us about a Pawn Loan. The process is similar to selling an item, but instead of keeping it, we’ll just hold it as collateral. Then, you’ll be able to retrieve your item when you come in and pay off your loan. This is a good option for those who need money now but who don’t want to sell their items permanently. If you later decide that you do not want your item back, however, you can simply leave it with us and forget about paying back the loan. There are no negative repercussions for doing so, and you can always come back in later to make another sale or take out another loan with no problems.