scrap gold on the plate

What You Need to Know before Taking Your Jewelry to a Pawnshop

Pawnshops work with those who want to Sell Scrap Gold and it seems that everything is simple: you bring gold and get money. But with this approach, you can, at best, sell products at a reduced price. And at worst, you might run into scammers and lose a significant amount.

To prevent this from happening, there are rules that are important to follow before transferring or selling jewelry.

golden item
Photo by Samuel Chagas on Unsplash

Metal or stones

In all pawnshops and purchasing centers it is clarified by checking the sample. But you can’t always hope for an honest assessment. In most cases, they look at the precious metal in the jewelry, and do not take into account stones and other inserts. But buyers can deliberately underestimate the weight of the metal if they subtract the weight of the stones from the total mass.

To avoid this, remember if you have any documents left from purchasing the jewelry. They indicate the manufacturer, the sample of the jewelry and its carat value. Take the documents with you to the pawnshop – this will help increase the Gold Price UK or reveal the fraud. If a pawnshop does not value stones, you should think about competence and honesty in the evaluation.

The fineness indicates how much gold or silver is in the alloy. For example, in the 585th out of 100%, only 58.5% is pure gold, the rest is an alloying metal.

Carat is the weight of a gemstone. In most pawn shops, it is deducted from the cost of the product, because the priority is the valuation of the metal.

golden chain
Image by sara graves from Pixabay

Preparing jewelry for delivery or sale

Restoration and cleaning of jewelry must be done using special equipment and products, and certain conditions must be observed. But a competent appraiser still will not underestimate the value of a product if it does not look like new.

Photo by Karly Jones on Unsplash

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