Pawning Gold Jewelry – A Break Down of How to Get Fast Cash
Pawning gold jewelry is one of the quickest and simplest ways to get cash when you’re in a bind. From gold jewelry to gold rings to gold necklaces, you can get hundreds if not thousands of dollars in mere minutes through gold jewelry loans. In this blog post, I’ll show you how you can safely, securely, and quickly get the most amount of cash for your gold jewelry from Alma School Pawn and Gold.
Understanding Karats in Gold Jewelry
If you take your piece of gold jewelry and look closely at it (inside of a ring, on the clasp of earrings / necklaces) you’ll see what’s known as a stamp, or more properly called an imprint. This imprint is placed there by the jeweler to indicate the purity of the ring. This can range from 10kt all the way up to 24kt, with the higher purity being the purest, obviously. 10kt is approximately 40% gold while 24kt is 100% gold, so you can see how this can drastically affect the amount of cash you’re eligible for with a loan.
During a pawn loan, a trained associate will be looking for this stamp and then will perform what is called an acid test. This stamp is not always definitive proof of its purity, and sometimes you can have a piece of jewelry saying its 14kt when really its a little less pure. An acid test collects a few flakes of gold from the jewelry and applies acid to it. If there’s no reaction, then we know that the purity is correct and can loan on that value. No matter if you’re in Tempe, Mesa, or Chandler, your gold jewelry loan can be more valuable than you think.
The actual pawn gold loan amount is determined by the weight of the piece of jewelry itself. We take the price of gold for that exact day, times its purity, times the weight of the gold to get you an exact cash loan amount. We use global gold loan prices so you know that you’re getting the exact value of your gold that day of the week. So what’re you waiting for? Come visit Alma School Pawn and Gold today and pawn gold for the most cash you’ll find in Mesa, Tempe, or Chandler.