So there you are, you have this ring and it has some significant date in it or somebody’s name on it.
Is that something that a pawn shop will take? Will pawn shops take engraved jewelry?
The fact of the matter is that more often than not, pawn shops will buy engraved jewelry as long as it is made out of a precious metal that they typically accept.
The reason for this is pretty simple. As long as the jewelry is made out of something such as gold, or maybe even silver, a pawn shop will be able to melt it down at a later point in time and sell it for the scrap value of the metal.
Because of that, most pawn shops will have no problem whatsoever taking in engraved jewelry.
That having been said, there are some considerations that you should keep in mind when taking something that is marked with something such as a date or owner’s name into a pawn shop.
Things To Keep In Mind When Selling Engraved Jewelry
Typically speaking, when you take in some gold or silver jewelry, if the pawn shop accepts it, a pawn shop may look at it in two different ways.
The first way that a pawn shop may view that jewelry, is as something that they can later resell in the retail side of their store to a customer who comes in looking for a piece such as yours.
The other way that a pawn shop will look at it, is as something that they will have to meltdown to extract any kind of value from it at a later point in time.
Because of these two different viewpoints, you will often find that the offers you get from pawn shops can vary considerably.
While it is true that more often than not a pawn shop will attempt to pay for gold jewelry based upon its precious metal value, there are occasions under which a pawn shop will look at gold jewelry under the light of being something that they can resell easily.
In the cases in which a pawn shop feels that they will be able to resell the jewelry easily, they will often offer you a little more money for it than they would if it was something that they could only meltdown.
That is of course because there is a greater profit margin involved when selling jewelry to a retail customer.
When you scrap out the jewelry you are only going to get slightly below the spot price of that metal.
How Does This Apply To Engraved Jewelry
When we’re talking about engraved jewelry, the only thing that a pawn shop will be able to do with it, is melt it down for its overall precious metal value.
This eliminates their ability to sell it to a retail customer at a later point in time. As such, they are not going to offer you a significant amount of money above whatever percentage they pay of the spot price of gold for that item.
You have to understand that there is little chance that a pawn shop will be able to resell something that has been engraved.
Keeping this in mind, you will want your expectations of what the pawn shop will offer you to be in line with the scrap value of the metal and nothing more.