If you’re in a financial pinch, you may be considering a pawn loan on a valuable piece of jewelry you own. Before you step foot in pawn or coin shops, make sure to follow these three tips to get the most value from your possession.
What You Can Pawn
The first thing to do is to figure out what you have that you can pawn. You have to really consider the value of something to yourself. Remember, you may lose what you pawn loan if you miss payments. So maybe don’t pawn your wedding ring.
Clean your jewelry before you bring it to the pawn shop. You want to make it look as good as possible before you bring it to the pawnbroker. Make sure to pay attention to the area around diamonds and stones. Use a toothbrush (gently) and jewelry cleaner. Don’t clean it in the sink or else a loose stone could end up getting lost down a drain.
Finally, figure out if you have paperwork that legitimizes the piece of jewelry. Appraisals, original receipts, anything you have to describe it works. You won’t necessarily get the full value as stated on the receipt, but it doesn’t hurt.