Can You Pawn Broken Jewelry?

Can You Pawn Broken Jewelry?

It seems nearly everyone has at least one piece of broken jewelry. Even though you don’t wear it, you also don’t want to throw it away. Perhaps you’ll finally get around to having it repaired one day. In the meantime though, did you know that it may be possible to secure a pawn loan using the broken jewelry as collateral? Of course all pawnshops have their own policies about buying or loaning on broken jewelry, but at Central Mega Pawn, we are often able to make pawn loans using broken jewelry as collateral.

Reasons Pawn Shops May Be Reluctant to Extend Loans for Broken Jewelry

Most pawn shops will accept jewelry as collateral for a pawn loan. However, if the jewelry is broken, your options may be a bit more limited. The reason? If you forfeit your item through defaulting on your loan, the only way the pawn shop can recover their loss is by selling the item. Believe it or not, most customers aren’t in the market for broken jewelry.

That means that the pawn shop can only sell the jewelry as scrap silver or gold or choose to have the item repaired. This is one reason that some pawn shops won’t accept broken chains, bracelets, earrings, watches, etc. So, the first factor that a pawn shop will consider is the value of the scrap metal. Keep in mind that pawn loans are based on a percentage of the value of an item.

For example, say you have a gold chain that you’d like to use as collateral for a pawn loan. It is a 14k gold chain that weighs 15 grams. Let’s also assume that the current spot price of gold per gram is $50. In this case, the chain may be estimated to be worth approximately $750.00. If the chain wasn’t broken, you may expect to be offered a loan ranging from 25% of the value, to 60% of the value. So it could be a loan of $187.50-$450.

However, keep in mind that the pawn shop reserves the right to reduce the offer of the loan because the chain is broken.

Getting Your First Pawn Loan: What to Know

If you’ve never pawned an item before, you should understand how the process works. First, you’ll show the pawnshop the item you’d like to use as collateral for a loan. They will inspect it and offer you a loan amount. You are well within your rights to try to negotiate for a bigger loan. If you do not get the amount you want, you’re welcome to take your jewelry elsewhere, with no hard feelings.

If you reach an agreement, you will need to sign your loan agreement. You will also need to provide your identification with a state-issued I.D., driver’s license, or passport. Different pawn shops offer different terms, but at our shop in Ontario, we only offer four-month loan terms. Interest rates range from 2.99%-35.99%. The pawnbroker will let you know exactly how much your monthly loan payment will be for the next four months. If you pay your pawn loan per the terms, your item will be returned to you when you make your final payment.

If you forget to make your loan payment, you will have a ten-day grace period to make your payment, or to at least make your interest payment. If you do not pay the interest or the payment within the 30 days, you risk forfeiting your item. The pawn shop is then free to sell your item.

Most reputable pawnshops will work with you to get you back on track. You may be able to renew your loan, extend your loan, or obtain a replacement loan. Nationwide it is estimated that only 15% of items that are used as collateral to secure a pawn loan are forfeited.

Unfortunately, because of confidentiality laws, pawnshops are unable to accept payment for your loan from third parties. You will need to make the payment yourself, as pawnshops cannot confirm that they have extended a loan to you to anyone but you.

While you are paying off your loan, your item will be safely stored, and monitored by 24/7 surveillance cameras. Jewelry, coins, silver, gold, and other high-value items are stored in a safe. The pawn shop should also have security gates protecting the business after hours.

You can have multiple pawn loans at one time. There is no limit to the number of items you may use as collateral for loans.

Should You Sell the Broken Jewelry?

If a pawn shop cannot extend a loan for your broken jewelry, you may still be able to sell them the item. You do need to make sure you’re ok with parting with the item. Once you sell it to the pawnshop, they can resell it as soon as they take possession of it. So, you need to be very sure you’re not going to regret selling it at a later date.

But, when you sell your item to a pawn shop, you’ll almost always put more cash in your pocket than the pawn loan will provide. That’s because the pawn shop will become the owner of the item. When you pawn your item, you retain ownership of the item.

Pawn Loans for Broken Jewelry in Ontario, Upland and Pomona

If you have broken jewelry and find yourself in a financial bind, bring the jewelry to Central Mega Pawn in Ontario. As the Inland Empire’s best reviewed pawn shop, we go above and beyond to put the money you need in your pocket. Central Mega Pawn buys, sells, and loans money seven days a week from our location on Central Avenue in Ontario. As a member in good standing of the California Pawnbrokers Association, Central Mega Pawn complies with all state and federal lending regulations.

We are always happy to answer questions. However, we do not provide loan estimates over the phone or email. For all other questions, call 909-627-9622, or feel free to email us.

Top 5 Wedding Ring Designers You Will Find at a Pawn Shop

Top 5 Wedding Ring Designers You Will Find at a Pawn Shop

Some of the fun of shopping for jewelry at a pawn shop is that you never know what you’re going to find. This is thanks to everchanging inventory that pawn shops boast. From day to day, you may find wedding rings from the world’s most celebrated designers. You may also find wedding rings of countless shapes, carats, styles, and prices. Though the inventory at a pawn shop changes all the time, on any given day you may find wedding rings from designers including Tiffany & Co., Harry Winston, Chopard, Van Cleef & Arpels, and De Beers.

High-End Wedding Ring Designers

Although Tiffany & Co., Harry Winston, Chopard, Van Cleef & Arpels, and De Beers are some of the best-known wedding ring designers, they are far from the only designers you should consider. At a pawn shop you may find wedding rings from these globally recognized designers, but you may also find them from other designers including:

  • A. Jaffe
  • Cartier
  • Graff
  • Jean Dousset
  • Jeff Cooper
  • Jenny Packham
  • Many others
  • Nadia
  • Neil Lane
  • Piaget
  • Pnina Tornai
  • Simon G.
  • Tacori
  • Vera Want
  • Verragio
  • Zac Posen

Ring Materials, Gemstone Shapes and More: Options for Wedding Rings

When looking for wedding rings, you’re likely to be surprised by how many options exist. The most common materials used to make wedding rings include gold, silver, and platinum. However, men’s wedding rings are also often made of metals including palladium, titanium, tungsten carbide, cobalt, and stainless steel.

Likewise diamonds and gemstones come in myriad shapes including:

  • Round Round diamonds and gemstones are the most common. They may also be referred to as brilliant cut.
  • Princess A princess shape diamond is a square diamond.
  • Cushion A cushion cut gemstone or diamond is a square shape with rounded corners.
  • Oval Oval cut diamonds and gemstones are slightly longer than they are wide
  • Marquise A marquise shape is an elongated oval that comes to a point at either end.
  • Emerald Emerald shaped or emerald cut diamonds are rectangular in shape, but include cropped corners, for a subtly elegant, but not overly flashy look.
  • Radiant Radiant cut diamonds are princess diamonds with additional facets for extra sparkle. This style makes smaller rings appear larger.
  • Heart Heart shaped diamonds may drive up the price of your wedding or engagement ring as the cutting required to create a heart shape is more labor intensive.
  • Pear Pear shaped gemstones or diamonds resemble a teardrop. They have a narrow point at the top and a round, full bottom.
  • Asscher Asher cut rings are having a moment. Shaped like an octagon, with varying levels (known as facets) it is both extra sparkly, and geometric.

Styles of Wedding Rings:

If you are looking for the perfect wedding band for your future husband or wife, you’ve got countless options. Here are some of the most popular styles.


There’s something to be said for a timeless diamond solitaire engagement ring accompanied by a simple band. Diamond solitaire rings are often available at significant discounts in pawn shops.


A cluster wedding ring is a ring that groups together diamonds or other gemstones of varying sizes. The effect produced is one of a larger diamond or gemstone. Because the gemstones or diamonds are typically smaller, these rings can be a great option for maximum sparkle, without emptying your bank account.


Pavé styles make rings look like they are entirely made of diamonds. They are similar in appearance to eternity bands, but with diamonds on the sides of the bands as well. Pavé rings have been popular for a long time and show no sign of losing their appeal.


Halo settings refer to the way the gemstones or diamonds form a circle around the center stone. While a halo ring made entirely diamonds is often jaw dropping (and makes the center stone look bigger), today people are often choosing to modify the halo ring by either selecting an oval shaped halo ring, or by using a different gemstone as the center stone. Sapphires, rubies, and emeralds are trendy as center stones.

Three Stone

As their name suggests, three stone wedding bands typically have a larger center stone surrounded by a smaller stone on either side. The stones form a row. Although diamonds are commonly set in three stone rings, others may feature a diamond in the center, flanked by brightly colored gemstones.

Eternity Band

Eternity bands are excellent choices for wedding rings, promise rings, or anniversary rings. Eternity bands are entirely made of diamonds on the top of the band. They are often just bands, although as an engagement ring, the band may be set with a solitaire as well.

Flush Setting

Flush settings are popular with both men and women. In flush settings the diamonds or gemstones are set inside the band, so that the band is smooth, without any gemstone protrusion. Flush settings may include a mix of diamonds and other gemstones such as blue sapphire.

Art Deco Style

Art deco styles of rings typically feature a bold, geometric design surrounding a center stone. It may also include a halo of smaller diamonds or include diamonds along the band, such as you’d find in eternity or pavé styles.

Etched Bands

Etching a gold, white gold, or platinum band leaves unique patterns in the band, resulting in bands that look like rope, or appear swirled. The etched style is popular in men’s wedding bands.

Shop for Designer Wedding Rings in Ontario

Central Mega Pawn carries designer engagement rings, and wedding rings for men and women. As the Inland Empire’s top-reviewed pawn shop serving Ontario, Upland, and Pomona we buy jewelry seven days a week. Whether you’re looking for the perfect gold and diamond solitaire wedding ring, or a men’s flush set wedding band, we carry a gorgeous selection of wedding rings and fashion rings, along with gold, silver, and platinum earrings, necklaces, chains, bracelets, and luxury watches. Visit us today on Central Avenue in Ontario for the best deals in the Inland Empire. Questions? Send us an email or call 909-627-9622.