FAQs About Pawning Gold and Silver

If you need a short term loan, then pawning your gold and silver is one way to achieve this. You can walk in a pawn shop with a pocket or bag full of jewelry that you no longer wear, and walk out with a wallet full of money for bills, repairs or that vacation you have wanted for a long time. You can learn the answers to some commonly asked questions about pawning gold and silver by reading below.

Q: What type of gold and silver can you pawn?

A: You can pawn any jewelry that contains gold and silver. It is better if your jewelry is solid gold or silver, rather than gold- or silver-plated. You can also pawn gold and silver coins or dishware. If you can take it to a pawn shop, and it is made of gold or silver, you can pawn it for some extra money.

Q: How much money do you get?

A: The amount of money you collect for your old gold and silver depends on market value, the amount of gold and silver you have and how difficult it is to extract the gold and silver from your items of value. Most pawnbrokers do not offer more than 50% of market value for items.

Q: What do you need to bring with you?

A: When you go to pawn your gold and silver, you need to provide proof of your identity. This is accomplished by brandishing your state-issued ID card or driver's license. This helps the pawn shop identify you if the jewelry is stolen, and also helps them keep track of money they pay out for items.