No one likes to be short on cash, and if you've got a stretch of time before your next paycheck arrives, having no money can be both stressful and dangerous. It means you don't have cash reserves if there is an emergency, which puts your life in danger if you become ill or injured or have to evacuate because of an approaching fire or hurricane. Having at least a little money ready just in case is essential. But getting that money is a different matter if your next payday is several days away. One solution is to go through the jewelry you have and see if there is anything you can sell for cash.
Spot Price vs. Collectible Value vs. General Interest
Sellable jewelry falls into three categories. One is jewelry that you sell only for the metal or stone value. For example, a 14-karat gold bracelet would likely be sold for the current price of gold, adjusted for the karat value. Another category is collectible price, which means the jewelry has special value based on its design or history. For example, Edwardian or Georgian paste jewelry has glass faceted to look like gems and isn't the most valuable in terms of straight materials, but it has collectible value because Edwardian/Georgian paste jewelry is considered classic and highly sought-after.
And then there's general interest, where the piece might not be valuable in terms of materials or history, but it's a nice piece altogether, and someone might be interested in it.
The easiest way to get money for jewelry is to find precious metals and sell them for the spot price. This could mean you get nothing for any gems in the piece, depending on who you sell it to. Another option is to take the jewelry to a pawn shop because, if that shop sells secondhand jewelry, the staff there could loan you the money you need. If you didn't redeem your pawn ticket and get the jewelry back, they could just sell it instead.
Is This Something You Want Back?
Whether you want the jewelry back also determines where you take it. If you don't want it back, selling precious metals for spot price is appropriate. Look for a buyer who gives you a high percentage of the spot price (e.g., pays 80 percent of the spot price; they won't give you 100 percent because then they don't make money when they sell the metal to a refinery). If the jewelry has collectible value, you can look for jewelry buyers who evaluate whole pieces. If you do want it back, though, a pawn shop is the best route. All you have to do is pay the loan back with the agreed interest within the time stated on your ticket.
For more information, contact a local cash loan service.