Jewelry pawn shops near me are retail stores that offer jewelry, firearms, electronics and furniture for cash on a faster timeline than selling them yourself. They do this by taking your items as collateral for a loan (which is typically 30 days or less), and you then pay them back the amount of the “loan” plus any fees or interest they charge, and get your item back.

Jewelry Pawn Shops Near Me: Best Locations

Pawn shops are often stigmatized as shady, but they operate in a highly regulated manner by state and national laws and the National Pawnbrokers Association. They are also subject to local customer reviews on Yelp and Trustpilot and are listed with the Better Business Bureau. In fact, pawnshops are an important way for people who need immediate cash to get it, and they are often the only option in areas with few or no other options.

If you are looking to purchase a diamond or other precious metal jewelry from a pawn shop, be sure to bring in a reputable jeweler to do a side-by-side comparison. This will help you make an educated decision about the value of your piece, and will help you avoid overpaying.

When a pawnshop takes your item as collateral, they will charge you a fee for storage, appraisal and insurance. This is often more than half of the resale value of your item, and can be very expensive in the case of a firearm or jewelry. This helps the pawnshop cover costs such as rent, utilities and taxes, while still netting a profit.