With the price of gold traded at $4,223.13 per ounce on Oct. 15, 2025, per JM Bullion, it might be the perfect time to make money off that diamond bracelet or engagement ring from your ex that’s been sitting in your drawer for months.
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Pawning (or selling) your jewelry can be an easy way to cash in with the holidays around the corner — or to help you cover your mortgage or credit card bill when money’s tight.
However, before you head to the pawn shop, here’s an essential tip: Don’t pawn your jewelry on a specific day of the week — you could walk away with far less value than it’s actually worth. Instead, below is the best time to pawn your jewelry with tips on how to increase your profit.
Also here are other things to pawn for extra cash.
Don’t Pawn Your Jewelry on a Friday
Weekends are busy in pawn shops, especially Fridays. Saturdays and Sundays are also busy times. You’ll have a better chance of getting more money for your jewelry during the week, according to Meriden Pawn.
Jewelry sales are in high demand on Valentine’s Day and the winter holidays when customers are shopping for gifts for their loved ones, making these good times to pawn or sell jewelry.
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Research the Precious Metals Market
The value of precious metals (gold, silver and platinum) shifts based on global market fluctuations, similar to the stock market. At the time of this writing, gold is high. Selling your gold or silver jewelry when market conditions are high can “significantly boost your profit,” according to David Dellis Jewelry.
Compare Prices To Get the Best Deal
Before selling your jewelry, visit different pawnshops to compare offers and get the best deal.
Always bring appraisals and documentation with you to verify the authenticity of your jewelry when available, which can give you more leverage when negotiating.
Choose a Trustworthy Pawn Shop
Not all pawn shops will offer the same value and good customer service. That’s why it’s crucial to seek a reputable and established business that offers fair pricing and is open to negotiation. Search online reviews, such as Google Maps, to learn about customer experiences.
Clean and Polish Your Jewelry for the Best Presentation
Tarnished jewelry suggests that you haven’t taken care of the jewelry you’re attempting to sell, which can lower its value in the mind of a pawn dealer. However, you’ll leave a better impression when your jewelry pieces are clean, polished and well-maintained, improving your chances of a higher offer.
Should You Sell or Pawn Your Jewelry?
Pawning jewelry is similar to taking out a short-term loan. The pawn shop will give you a loan in exchange for your jewelry, which becomes collateral. However, you’ll need to pay it back according to the terms and conditions you agree to with the pawn dealer.
Pawning jewelry can be a good option if you’re confident you can repay the loan in time. However, you risk losing it, which can be a harrowing experience if the item has sentimental value. When it doesn’t, selling jewelry outright will grant you a higher payout.
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This article originally appeared on GOBankingRates.com: Don’t Pawn Your Jewelry on This Day of the Week
