Pawning Gold

Discussion in 'Budget Board' started by 8 Ears, Jun 20, 2006.

  1. 8 Ears

    8 Ears DIS Veteran

    Mar 20, 2004
    OK, have never done this before. I have some gold jewelry that I no longer wear/want. Is it better to pawn it as is or can I get more from it for the weight in gold? I have 4 rings and a bracelet. I believe all the stones are simulated, but set in 10 K.

    Then will put the $$ towards our next Disney trip.

    *Why can I not get the smilies to work?*
  2. Aisling

    Aisling <font color=darkorchid>Where your mind goes, your

    Sep 17, 2002
    I just did this, sold some old gold, first to a jewelry store, where I thought I'd get the price of the gold plus for the designs of the pieces. But they wouldn't even consider the workmanship or detailing on the bracelets and earrings. They put the jewelry on a scale, told me what it's worth for that day (gold fluctuates, they told me), and gave me a fraction of what I thought I would get. I just took the money and left, but I was shocked and disappointed.

    Then I went to a pawn shop with some more pieces, a St. Christopher medal, a claggagh ring, a gold man's ring with the center stone missing. The guy weight it, looked at it with the magnifyer, and gave me $80 for the ring, and I can't remember exactly what I got for the rest, but I walked out of there with $260 in my hand!

    I definitely have a new feeling about pawn shops. I thought they were seedy places, but not at all.

    Good luck
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  4. pilgrimage

    pilgrimage DIS Veteran

    Mar 29, 2002
    Have you thought of selling them yourself?
    Ebay or craigslist are places to start.

    Hope you get the funds you need!
  5. StephaBabe50


    Mar 8, 2005
    If you have a local jeweler that is reputable, you should be able to get more for scrapping it than you would from a pawn shop. Gold is very high right now...I believe somewhere around $650.00 per ounce. Pawn shops really are the worst place to bring jewelry. The other thing would be to find a jewelry store that would take it on consignment.
  6. jackskellingtonsgirl

    jackskellingtonsgirl DIS Veteran

    Nov 14, 2004
    I have been thinking about this lately! I have jewelry that I need to do soemthing with - it is broken, the stones have fallen out of the rings, etc. It isn't anything I would wear if I had the stones replaced, so I figure I might as well sell it somehow. I'll have to take it in to one of those "We Buy Gold" places and see what they offer. :confused3
  7. java

    java <font color=darkorchid>I am embracing the Turkey B

    Jan 18, 2005
    If you are serious about unloading there is one thing to consider- the weight vs. the workmanship on the piece. If it is heavy- the sell the gold at weight(gold prices were at all time highs about 2 months ago- slowly coming down now but still much higher than historical prices. Check the price of gold online before you go so you have an idea of how much per ounce you should be getting.
    Now I know nothing of pawn shops but I would guess if it is delicate pieces not too heavy maybe a pawn shop would be better. But at this point with the price of gold (about 570 it was over 600!!) I would think selling it now is a good idea! But 10 K is less gold weight so be prepared for that also. You can just take it in to get weighed and find out how much they are willing to give you then go to a pawn shop and compare. But realize that the $ the jeweler will give you changes by the minute.

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