- Know what Jewelry to Bring
Your old jewelry does not have to be in pristine condition for you to make some money at the pawn store. You can even bring in unmatched earrings and get paid nicely for them. As long as your gold jewelry is at least 10 karats, the pawnbroker will most likely want it. You can also bring in old diamond jewelry or fine watches to try to get some cash.
- Know the Karat System
It is a good idea to have a general idea of the value of your jewelry before you bring it in for sale or pawning. Gold is measured by karats in a system in parts of 24. A piece of jewelry that is 22-karat gold is 22 parts pure gold and two parts another kind of metal. The higher the karats are, the more valuable the gold is.
- Decide to Pawn or Sell
If you only need an instant cash loan, you can pawn your jewelry and use it as collateral. When you repay your loan, you will regain your jewelry. If you collected some jewelry at an estate sale or have pieces you will never wear again, you might want to sell it. Take it to a licensed gold trader who will give you a good price for your pieces.