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  • Writer's pictureGlenda Craddock

How Does a Pawn Shop Determine Value of Gold Jewelry?

Updated: 2 days ago

If you’re interested in selling your gold jewelry or taking out a pawn loan, one of your main questions might be, “How does a pawn shop determine value of gold jewelry?” After all, the amount you’ll be able to borrow or the amount you’ll walk away with after the sale depends on the value of the jewelry you bring in. These are the various things we’ll consider when making you an offer.

Gold for a pawn shop loan

Loan Value is Based on Gold Content

24K gold is pure gold and is therefore the most valuable. 24K gold isn’t commonly used to make jewelry. Even though it’s beautiful, it’s simply too soft and pliable for jewelry that will be worn regularly.

Because of this, there’s a good chance that your gold jewelry is actually made from a combination of gold and other alloys. For example, 10K gold is only 41.7% gold, and 18K gold is only 75% gold. The higher the gold content in your jewelry, the more your jewelry is worth, when all other things are equal. A metal assay test, which is also commonly known as a scratch test, is performed to verify that your item is made of real gold and to determine the gold content.


Gold is commonly bought and sold based on weight. This is particularly true if you are selling your gold for the melt value, such as if you have gold bullion or if you bring in a broken necklace. Gold is weighed using the troy measurement system, such as by the troy ounce or troy pennyweight. Weight-based value depends on the market; the current value of gold per troy ounce is known as its spot price.


One of the things we’ll determine when you bring us gold jewelry is whether we want to put it up for sale for our customers as-is or if it’s only valuable for its melt value. Basically, we’ll look at the condition of your piece. If it’s in good shape or can be repaired pretty easily, it’s going to be worth more than a piece that is only worth its melt value. Although you should keep that in mind, you shouldn’t skip bringing us gold jewelry that isn’t in good shape, since it may be worth more than you think.

Special Considerations

Sometimes, there are special considerations that can make gold jewelry more valuable. If your jewelry is antique or vintage, if it was made by a well-known designer, if it’s a popular style that our customers regularly ask for, or if there is anything else that makes it special, we may be able to make you a higher offer.

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Diamonds or Stones

Gold jewelry often isn’t just valuable because it’s made from gold. It’s also often valuable because of the diamonds or other stones that are set in the piece. In fact, the diamond in your ring might be worth much more than the actual gold from the band. We’ll look at the types of stones in your gold jewelry. Diamonds, rubies, emeralds, and other valuable stones can be quite valuable. Just how valuable they are depends on their carat weight, color, and quality.

How Do Pawn Shops Determine the Value of Gold Jewelry?

If you're thinking about pawning or selling a piece of jewelry, you could be wondering about things like "What is the 18k gold necklace pawn value?" You might also be wondering, "How do pawn shops weigh gold?," "How do pawn shops determine the value of jewelry?" or "How do pawn shops test gold?" A magnet test is used to determine if gold is real; then, we can perform an acid test to determine the purity. We use very accurate, calibrated scales to weigh your gold, based on the troy measurement system. After all, getting an accurate weight is critical so we can be sure we're paying you the right amount!

How Do Pawn Shops Weigh Gold?

When you sell or pawn gold jewelry, weight is important. So, how do pawn shops weigh gold? Gold is weighed by troy ounce or gram. Scales that can weigh down to 1/100th of a gram are used. Then, we use a pawn shop gold calculator to determine how much you are owed, based on the purity of your gold and the current spot price of gold. If you're wondering, "How do pawn shops determine the value of gold?," this is a big part of it.

How Do Pawn Shops Test Gold?

How do pawn shops determine the value of gold? What do pawn shops pay for gold? There are a few things we look at. Well, obviously, the first step is making sure that it is, in fact, gold. We start by performing a visual inspection. Real gold jewelry is imprinted with a stamp that indicates the purity of the gold, such as 10K or 18K gold. We can also perform an acid test when performing a pawn shop valuation. If you've been worried about how to pawn jewelry or how do pawn shops determine value because you don't know much about your piece of gold jewelry, don't be. Pawning jewelry is easy because we take care of everything. Just bring your piece and your ID, and we'll take care of the rest.

How to Pawn Jewelry | Pawning Jewelry is Easy

Pawning jewelry is very easy at Hilltop Pawn Shop. The first step is answering your question about "How much will pawn shops pay for gold jewelry?" or "What do pawn shops pay for gold jewelry?" or "How much is a 18K gold necklace worth at a pawn shop?" Our in-store experts will take a few minutes to perform a pawn shop valuation. Then, we'll let you know how much we can loan you or buy it for, and you can accept or decline our offer. It only takes 10 or 15 minutes in most cases!

How Much Do Pawn Shops Pay for Gold Jewelry?

How do pawn shops determine value of jewelry? How much do pawn shops pay for gold jewelry? What is the pawn value of gold? We get asked about these things all the time. The gold price today per gram does have an impact, as does the specific item that you bring in. If you have questions like, "How much is a 18k gold necklace worth at a pawn shop?" or "How much is a 18k gold ring worth at a pawn shop?" the best way to get an answer is to visit Hilltop Pawn. We can tell you the scrap gold price at a pawn shop today!

How Much Do Pawn Shops Give You for Gold?

Are you wondering how much do pawn shops give you for gold? The best way to answer the question is to visit our pawn store and get an appraisal on the spot. The thing is, the answer to questions like how much is a 18K gold necklace worth at a pawn shop or how much is a 10K gold necklace worth at a pawn shop really varies. When looking at how do pawn shops determine the value of gold, you should know we look at a few things. Gold content, weight, condition of the piece, whether or not there is a diamond or gemstone pendant, and so on are things we look at. How do pawn shops determine the value of jewelry? Well, if you sell to us, we look at a variety of things to determine what your jewelry is worth. We put a bigger value on jewelry than most pawn shops, so come see us if you want to be paid more!

As you can see, our jewelry experts consider a number of different things when valuing your gold jewelry. Rest assured, we pay top dollar for gold jewelry based on its value. If you’re wondering how much you can get for your gold jewelry or how big of a pawn loan you can take out, stop by Hilltop Pawn Shop in Virginia Beach. We’ll be more than happy to take a look at your pieces and make you an offer today!

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