Need cash in a pinch? The wedding ring is one of the most valuable items that can be used to pawn for quick cash when you are facing hard times. Whatever may be the reason, whether you are going through a divorce or deciding to pawn your wedding ring temporarily to resolve a current financial issue, it’s always difficult to part ways with your wedding ring. But, if you are ready to take your wedding ring to a pawn shop and unsure about how much cash you will get for pawning wedding ring, read on to find some useful information that helps you to get the most out of your wedding ring at a pawn shop.
Collect Multiple Offers
“How much can I pawn my wedding ring for?” is the most common question that crosses your mind whenever you think of taking it to a Kansas City pawn shop. Gathering multiple offers available in the pawn market is a smart way to pawn your wedding ring. The reason behind this is that some pawn shops may offer you more cash than others. Fees and rates they offer for a jewel may vary from pawn shop to pawn shop.
How Do Pawn Shops Determine the Value of Wedding Rings?
If you don’t have any general understanding of how pawn shops price for your wedding ring, then pass it up for a deal that satisfies you. Pawn shops evaluate the value of your diamond wedding rings using the following factors.
– Color and Hue.
For gold and silver wedding rings, the following factors are considered.
– The karat value
– The market value
They also use marking or hallmarks on your wedding ring to determine the type of ring components and the purity of the metal to determine the value of your wedding ring.
Steps to Calculate How Much a Pawn Shop will Pay You
Determine the type and weight of the metal your wedding ring is made up of and calculate the approximate value of the metal in the current market condition by performing a simple research online.
If your wedding ring consists of diamonds, pearls, gemstones or any other precious stones, figure out the size of these stones and determine what a pawn shop might value it at.
Finally, combine the two numbers from the first two steps to come up with an exact value you can get from a pawn shop in Kansas City for your wedding ring.
The author of this article is an owner of a Kansas City pawn shop with over 15 years of experience in the industry. He writes about various factors that influence the value of your jewelry when trading it in a pawn shop. Visit https://solskc.com/ for more.