Joined: Tue Jun 03, 2008 4:40 pm Posts: 2432 Location: South Carolina
There are tons of pawn shops in the area around my house. One in particular si ran by a guy I chat with off and on. He has a huge selection of rings and other jewelry. He keeps his wedding rings seperate from his colored stones. He said he doesn't know or care if he has rubies, emeralds, etc. He sells his stuff for the price of the metal the ring or necklace is made of , gold, platinum, etc. My question is if you could identify and rate all the stones in his jewelry couldn't you make a profit off the stones if there are any worth anything. You would only be paying the price of the gold etc. If you had a sapphire, topaz, or anything else wouldn't it be like getting it for free since you would only pay for the price of the metal. This pawn shop doesn't have many visitors and the guy is old and doesn't know anything about stones I far as I can tell. What's your guys input on it.
_________________ These gems have life in them: their colors speak, say what words fail of.
Joined: Fri Jan 04, 2008 1:47 am Posts: 453 Location: Las Vegas
Here in Vegas I deal with pawn shops everyday. I asked that question to several pawn shop managers. They all replied that they only pay for the metals when they buy/loan unless its diamonds (which they test for in the store). They then take the stones out of the rings (unless its something unique) and send the metals out to be melted down. The remaining stones then get sent to a central facility where they are tested. They didn't know where they go from there. Most the pawn shops here buy the gold for $5-10 a gram. Its amazing how much money the pawn shops make here. We deal with so much stolen jewelry here in Vegas. Thiefs used to target electronics, now they bypass the electronics and go straight for gold.
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