If you have valuable jewelry lying around the house, pawning it may seem like the best option for getting a quick cash infusion. However, before you head to your nearest pawn shop, it’s important to understand the pros and cons of this method of getting rid of your jewelry.

What Items Are the Best to Pawn for Cash

Jewelry Loan at Pawn Shop pieces of jewelry are best to pawn, you should keep in mind that authentic precious metals (like gold and silver) will yield the highest cash offers, as will jewelry adorned with gems like diamonds and emeralds. Authentic pieces of jewelry will typically be worth more than those that are gold-plated or made with costume materials, and it’s always a good idea to get an appraisal for your jewelry before you make a sale.

Most pawnbrokers will assess the value of your jewelry and then offer you a loan based on this valuation. The item will remain in the possession of the pawnshop until you pay back the loan, at which point you will be able to reclaim it.

However, since pawn shops are in the business of making money, they typically only pay about 60% to 70% of your piece’s true value. As a result, it’s best to only choose the most valuable pieces of jewelry to pawn and prioritize those that you know you will not miss. Also, remember that pawning is only a temporary solution and if you are unable to pay back your loan, you will lose your valuables.