Pawning Rings VS Selling Rings in Las Vegas | Value

A ring is typically any metal or plastic band that is small and circular. Sometimes, it carries one or more gemstones, depending on its style. You can wear them on your finger as an ornament or to display various statuses like being engaged. Unfortunately, not all rings are made equal. Some are more precious than others, while certain pieces can be extremely pricey. Hence, some people resort to pawning a ring to get their hands on some money fast. However, they forget to consider that selling rings is a much better option than bringing their rings to a pawn shop. Today, we will discuss the difference between the two.

Pawning Rings

Pawn shops are more focused on providing quick loans to their customers. And unlike banks, pawn shops profit by adding incredibly high-interest rates to their loans. They also require specific items as collateral from their clients. These collaterals serve as protection for pawn shops once their customers fail to pay off their loans.

Also, pawn shops do not have in-house jewelry experts, and they barely have proper procedures for determining the value of their customers’ items. Most pawn owners merely assign a price to an item without considering factors other than genuineness. So, when you pawn a ring, pawn shops may sometimes offer you a loan that does not match the value of your ring. 

You can also lose your item to the pawn shop once you forget to pay off your loan. When this happens, you lose so much more than your item. You end up paying for more than what you gained. If you want to avoid this kind of situation, selling your rings is obviously the better option.        

Sell Rings Instead

You only need to find a trusted buyer with a good reputation when you sell your rings. With selling, you no longer have to worry about monthly payments. You can get a better price for your item by avoiding loans with high-interest rates. Buyers are also focused on acquiring specific objects, so they’d be more than willing to pay you good money if your items fit their standards. 

On the other hand, pawn shops know that most of their customers are people who do not qualify for proper bank loans. So when you pawn a ring, keep in mind that there are pawn shops that take advantage of the fact that you are there to earn quick money. 

Best Place to Sell Rings

As of today, the best place to sell your rings is Nevada Coin Mart – the most reputable ring buyer in all of Las Vegas. We are home to jewelry experts who understand the actual value of rings. Also, we use a state-of-the-art Thermo Niton X-Ray Spectrometer to analyze metal items. This way, we can be fair and transparent when it comes to the prices we offer. Unlike when you pawn a ring, we follow specific steps before making an offer for your items. If you have rings you want to sell, bring them to our store at Nevada Coin Mart® 4065 S. Jones Blvd, Las Vegas, NV 89103. You can also call us at 702-998-4000 to talk to our expert buyers today. 

Brief History

Historians claim that the oldest rings in the world are found in ancient Egyptian tombs. The earliest Egyptian civilizations used seal rings – gold bezels that bore the owner’s name and title in hieroglyphic characters. Citizens used these rings to authenticate documents. Meanwhile, it is believed that the Greeks were the first ones to wear rings to decorate and embellish the body. 

Over the years, the styles of rings changed, but they reached their peak during the 19th century. Jewelers learned to change and enhance traditional styles by adding a touch of modernism to their craft. Since then, several jewelry firms have begun using modern machine-made rings of excellent quality. These rings also often carry precious metals like silver, gold, and platinum, as well as specific precious stones like diamonds and sapphires.