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How does a pawn shop give prices on gold jewelry?
#1
Is it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?
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#2
aecelIs it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yes they will scratch your jewelry for nitric acid testing to determine the authenticity and the karat of your jewelry. If there's no chemical reaction then it's authentic but if it produce a ( when it turns green) chemical reaction then it's fake. After testing your jewelry, the pawn shop appraiser will appraise the value of you jewelry. Now remember pawn shop is a business, the appraiser will not offer you the true value of your jewelry instead the appraiser will only offer you either 60% or 70% (depending on the pawnshop) of it's true value. Some piece of advice, before pawning your jewelry it's better to get an idea first on the true value of your jewelry and then try to visit different pawn shops so that you can choose who has the highest appraisal rate.

Every made jewelry has a hallmark that values the karat of a certain jewelry. It is an engraved stamp of codes that reads 10k, 14k, 18k, 22k, ,24k, 417, 585 or 750 which is usually found on locks or on the back side of your ring or solid bracelet. Now, if your jewelry has no hallmark indicating the karat of your gold jewelry then you have to buy a gold testing kit. The most common type of gold testing kit includes a small bottle with nitric acid and a testing stone then just follow the instructed process and you will see the result.

Now, how to calculate the value of your gold jewelry? You will need 3 pieces of information, the karat of the gold, the weight of the gold and the value of the gold in the world market. But in most cases if your jewelry is made by famous jeweler or it is a designer brand, then value of your jewelry will rise up. I hope this will help you so good luck.
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#3
Yes. They will rub it in a small stone. This process is for them to determine if your jewelry is a genuine gold and not a fake. Aside from that, they can also figured out how many Karat of gold is your jewelry.
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#4
Yeah they scratch your jewelry to know if its not fake or it's genuine, yeah there's a lot of people they pawn there jewelries at any pawnshop and they think it is genuine but when there jewelries examined it is fake and they thought that it is not fake.

Yeah they scratch to for good purpose, I don't how about the pricing of the jewelries.
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#5
Mine were priced per gram. I am not sure how many times I had pawned a jewelry since its kind a my business. I bought jewels on countries that golds are cheaper then bring it to my country, I'll wait whenever the price of golds are increasing so I can pawn it to a pawnshop. I mostly gets a higher appraisal rate, than its original price when I bought it so its a great investment.
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#6
I worked in the pawnshop before. Before we give the value of the jewelry, we check first the karat and the weight. We're given a price table so there's a corresponding price per karat. All we have to do is to multiply that price to its weight usually in grams. In appraisal, we scratch a bit of the gold jewelry to identify its karat using a stone. Nowadays, there are tools in checking the karat aside from using stone, so it's more simple and fast.
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#7
(01-26-2018, 04:19 AM)Cheer Wrote: I worked in the pawnshop before.  Before we give the value of the jewelry, we check first the karat and the weight. We're given a price table so there's a corresponding price per karat. All we have to do is to multiply that price to its weight usually in grams.  In appraisal,  we scratch a bit of the gold jewelry to identify its karat using a stone. Nowadays, there are tools in checking the karat aside from using stone, so it's more simple and fast.

Can I ask you something since you have experienced working at a pawn shop, why does some pawn shop will only put a price on the gold but never include the value of the precious stone engrave on the jewelry? There was this one time my friend went to this well known pawn shop to pawn his gold diamond ring. While on the process of appraising his ring, suddenly the pawn shop appraiser told him that they will not include the value of the diamond on his ring, they will only pay for the gold. My friend was shock and he told the appraiser that he is not longer interested on pawning his ring on their pawnshop. I mean, is this things happen to you guys?
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#8
(01-25-2018, 10:00 AM)kaisantos2229 Wrote: aecelIs it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yes they will scratch your jewelry for nitric acid testing to determine the authenticity and the karat of your jewelry. If there's no chemical reaction then it's authentic but if it produce a ( when it turns green) chemical reaction then it's fake. After testing your jewelry, the pawn shop appraiser will appraise the value of you jewelry. Now remember pawn shop is a business, the appraiser will not offer you the true value of your jewelry instead the appraiser will only offer you either 60% or 70% (depending on the pawnshop) of it's true value. Some piece of advice,  before pawning your jewelry it's better to get an idea first on the true value of your jewelry and then try to visit different pawn shops so that you can choose who has the highest appraisal rate.

Every made jewelry has a hallmark that values the karat of a certain jewelry. It is an engraved stamp of codes that reads 10k, 14k, 18k, 22k, ,24k, 417, 585 or 750 which is usually found on locks or on the back side of your ring or solid bracelet. Now, if your jewelry has no hallmark indicating the karat of your gold jewelry then you have to buy a gold testing kit. The most common type of gold testing kit includes a small bottle with nitric acid and a testing stone then just follow the instructed process and you will see the result.

Now, how to calculate the value of your gold jewelry? You will need 3 pieces of information, the karat of the gold, the weight of the gold and the value of the gold in the world market. But in most cases if your jewelry is made by famous jeweler or it is a designer brand, then value of your jewelry will rise up. I hope this will help you so good luck.

Wow, thanks for this detailed informations. Thank you for explaining it well. One more question, if they scratch the jewelry, it wouldn't affect the quality of the items?
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#9
(01-26-2018, 06:10 AM)aecel Wrote:
(01-25-2018, 10:00 AM)kaisantos2229 Wrote: aecelIs it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yes they will scratch your jewelry for nitric acid testing to determine the authenticity and the karat of your jewelry. If there's no chemical reaction then it's authentic but if it produce a ( when it turns green) chemical reaction then it's fake. After testing your jewelry, the pawn shop appraiser will appraise the value of you jewelry. Now remember pawn shop is a business, the appraiser will not offer you the true value of your jewelry instead the appraiser will only offer you either 60% or 70% (depending on the pawnshop) of it's true value. Some piece of advice,  before pawning your jewelry it's better to get an idea first on the true value of your jewelry and then try to visit different pawn shops so that you can choose who has the highest appraisal rate.

Every made jewelry has a hallmark that values the karat of a certain jewelry. It is an engraved stamp of codes that reads 10k, 14k, 18k, 22k, ,24k, 417, 585 or 750 which is usually found on locks or on the back side of your ring or solid bracelet. Now, if your jewelry has no hallmark indicating the karat of your gold jewelry then you have to buy a gold testing kit. The most common type of gold testing kit includes a small bottle with nitric acid and a testing stone then just follow the instructed process and you will see the result.

Now, how to calculate the value of your gold jewelry? You will need 3 pieces of information, the karat of the gold, the weight of the gold and the value of the gold in the world market. But in most cases if your jewelry is made by famous jeweler or it is a designer brand, then value of your jewelry will rise up. I hope this will help you so good luck.

Wow, thanks for this detailed informations. Thank you for explaining it well. One more question, if they scratch the jewelry, it wouldn't affect the quality of the items?

Definitely yes, it will affect the quality but it won't affect the value. Gold is gold, whatever form it is the gold's value will remain the same. But don't expect standard price for gold, because the gold's price on the world market is always changing. So if you are planing to pawn your jewelry be sure that the gold's price is on it's highest so that you can get a higher price for your jewelry.
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#10
I have sold gold jewlery in the past but not to a pawnshop. I have found the price for your gold varies a great deal so it is best to shop around for different gold buy back programs to get the highest price for your gold. It helps very much I think to do this.
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