3 Key Tips When Selling Gold Jewelry To Pawn Shops

Posted on: 24 July 2018

If you're looking for a quick way to earn money, selling gold jewelry to a pawn shop can be a great idea. It doesn't come without risks, though. To ensure this selling process works out in your favor, remember these useful tips. 

Get Help From an Appraiser 

Pawn shops are in the business of buying low and selling high. That's how they stay in business for so many years. Knowing this, you need to make sure you're not getting ripped off by having your gold jewelry appraised by a professional.

These appraisals give you a baseline for how much you should ask for. You therefore don't have to worry about undervaluing any of your pieces and losing out on a lot of money. Just make sure the appraiser has the right credentials and extensive experience appraising these types of items. Otherwise, your appraisal won't be accurate, and you'll run into complications when trying to negotiate with a pawn shop.

Secure Your Jewelry Adequately 

Heading to a pawn shop with a lot of gold jewelry puts yourself at risk of getting robbed. That's why it's so important to adequately secure your jewelry before heading to one of these facilities. 

Instead of transporting these pieces in a bag or conventional jewelry box, put them in a portable safe made from heavy-duty steel. Only you'll have access to the security combination, which prevents people from gaining access to your jewelry and making off with it. 

Once your jewelry is stored in this lock-box, place in underneath your seats. You'll then draw less attention because it won't be in plain sight for others to question what valuable items are inside. 

Sell to the Right Pawn Shop

If there are several pawn shops in your area, then you'll need to research them to help you find the perfect match. Start by assessing the customer reviews that they've received online. If a particular shop has received a lot of negative feedback for things like customer service and return policies, then you'll know to stay away.

Most importantly, you need to look for a pawn shop that's in the right area. Make sure the surrounding area has low crime rates. Ideally, you want to be comfortable getting out of your car carrying such valuable jewelry pieces. If you get any bad vibes, keep searching until you find a suitable location.

Selling gold jewelry for cash to a pawn shop such as Morningstar's Jewelers & Pawnbrokers can be a rewarding experience, but only if you prepare appropriately for this type of transaction. The more research and preparations you make, the easier this process will be, and the more money you can make.