top of page
  • Writer's pictureGlenda Craddock

How Does a Pawn Shop Determine Value of Gold Jewelry?

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.

Pawn Shop Commercial

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.

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!

161 views0 comments
bottom of page