Can You Sell Loose Gemstones at a Pawn Shop?

Sometimes gemstones come loose from older or incorrectly set jewelry. When this happens, many people aren’t sure what to do with the loose gemstone. Of course, you could have it re-set into the jewelry, but this can be difficult and expensive. If the gemstone came from jewelry you were already considering selling, it may be worthwhile to sell the gemstone with the jewelry. Most pawn shops accept loose gemstones with or without accompanying jewelry.

Much like precious metals, gemstones don’t decrease in value. Because of this, pawn shops are always interested in buying gemstones. Finding buyers for loose gemstones can be difficult – however, pawn shops make this process much easier for the seller.

Types of loose gemstones

Although diamonds are what come to most people’s minds when they think about gemstones, there are many other types of gemstones that are commonly used in jewelry. To simplify the types, there are two categories of gemstones:

  • Precious stones
  • Semi-precious stones

Precious stones include diamonds, ruby, sapphires, and emeralds. Semi-precious stones are any gemstones outside of these three. Some common semi-precious stones you might find are topaz, amethyst, and opal. Of the two categories, precious stones will get you more money than semi-precious stones. However, keep in mind that there are other variables including the size and quality of the stone that determines how much it is truly worth.

Why sell loose gemstones at a pawn shop?

When you need money sooner rather than later, pawn shops are the easiest option available. Selling gemstones online involves finding a willing buyer, paying shipping and handling, and possibly paying for insurance on your package. Many people have tried to sell their loose gemstones on websites like eBay and local community boards and have wound up disappointed. Buyers for these websites are often not willing to pay as much as pawn shops, as they have no way to verify that the gem is legitimate until they have paid and received the stone. Online selling can be a time-consuming and exhausting process for both the buyer and seller. Another option is selling your gemstones to an in-person buyer – but this has drawbacks as well. In-person sales may not be safe, and unless you have already had your gemstone appraised by a professional, a potential buyer could underpay you for the stone.

If you still have original paperwork from when you bought the jewelry, bring it to the pawn shop when selling. Sometimes, a receipt can be helpful in these situations. Pawn shops will often be willing to help determine the gemstone’s authenticity if you’re uncertain, so don’t hesitate to bring your gemstone in even if you don’t have paperwork.

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