Gold jewellery and gems and coins – what is popular at pawn shops

Gold is always in demand in pawnshops This is because, as a precious metal, gold is always in demand even when it is old and not in great condition. This is because, gold can be bought and sold as is or be bought as scrap to be melted down and refined. One other reason why Brisbane pawnbrokers love gold is that it doesn’t depreciate, however you can only expect to get 80% – 90% of its market value when you choose to sell it to a Brisbane pawn shop.

When pawning your gold to a pawnshop you should know the quality and expect the pawnbroker to authenticate the gold to work out what the melt value is.  Whilst precious metals like gold are amongst the most popular items, gemstones are also important. A pawnbroker will look at the gemstones on your jewellery closely. Rare gems have a better value but most pawnshops will be interested in the jewellery more than the gemstone inclusion. However most pawnbrokers aren’t gemologist nor do they employ gemologists. It is helpful that you as the customer bring any paperwork that comes with the jewels like certificates of authenticity, receipts and other receipts. 

The top three gems that pawnbrokers like are: 

• Diamonds

They say diamonds are a girl’s best friend which is why a lot of wedding rings and jewellery for the ladies will have diamonds. The bigger the better. Diamonds are most jeweller’s gemstone of choice because they don’t scratch easily and polish very well. The value of diamonds depends on the size, cut, clarity and colour of the stone. 

• Rubies

Rubies get their red hue from the inclusion of chromium. These gemstones are slightly softer than diamonds and can easily damaged. They are available in different hues depending on the amount of chromium within the gems. 

• Pearls

There are basically two kinds of pearls: salt-water pearls and freshwater pearls. 5% of the world’s pearls are saltwater cultured pearls and the remaining 95% are freshwater. Pearls aren’t that popular with pawnbrokers. Most pawnbrokers will buy gold jewellery made with pearls but they will not include the price of pearls in their final offer, just the value of the gold. Again, if you have a piece of jewellery with an interesting and rich history, that might work in your favour

Collectible Coins

If you have gold coin that you would like to pawn or sell, the first places you want to approach are coin shops and places that coin collectors go to when they are on the hunt for special coins for their own personal collections. Some pawnbrokers are known for buying coins and would know what your coins are really worth from experience or by consulting coin specialists or price guides. If you have coins you want to pawn, you are better off approaching a Brisbane pawn shop known for dealing with gold coins otherwise, you will end up getting a quote for scrap gold. 

Keep in mind that pawnbrokers make most of their money from loans, they would rather give you a loan than buy collectible gold coins.