What to Consider Buying, Pawning, and Selling Gemstones at a Pawn Shop

Gemstones

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Gemstones are made of minerals, rocks, and organic materials. There are over three hundred gemstones documented today. The diamond is an iconic and rare gemstone. Painite was discovered in 1951 and is the rarest gemstone in the world. In 2004, there were less than twenty-four known to exist.

The diamond, pearl, ruby, sapphire, emerald, Catseye, and alexandrite are all precious gemstones, and stones like amethyst, topaz, tourmaline, aquamarine, and chrysoprase are all examples of semi-precious gemstones.

The difference between precious stones and semiprecious stones lies in their quality, rarity, and the beauty of their colors. Diamonds, sapphires, rubies, pearls, and emeralds are prized stones in the world.

Semi-precious stones are known as gems or gemstones and are used in fine jewelry. Natural resources or exact rocks, not called gems, are not minerals but are also utilized in jewelry.

Precious metals and stones, especially gold and diamonds, have a high intrinsic value and are great investments, and when you consider selling gemstones, they can be sold for quick cash.

Because precious stones are small and can be concealed, they are vulnerable to money laundering. Terrorist groups have a long history of profiting from the trade of diamonds, tanzanite, amethyst, ruby, and sapphire.

Diamonds are by far the most popular precious gemstone. People can’t seem to resist colored diamonds and clear diamonds. The most valuable diamond in the world per carat weight was the Blue Diamond which sold for US3.93 million, and a Jadeite which sold for US 3 million. There are other valuable gemstones like the jeremejevite, serendibite, and black opal.

Black opal is a unique color and one of the most expensive gemstones in the world. A high-end black opal can cost US$10,000 per carat. These beauties are rare and thus hard to find.

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Jadeite – A Gem Stone Valued in China

Jadeite is the main mineral that makes jade. The stone is highly regarded in China. Most of the gem-quality Jaeite comes from Myanmar. Jadeite is green in color and very tough. Most jadeite is driven almost entirely by the Chinese market. It can be worth more than gold for the finest specimens. Jade is valued in Chinese culture because of its metaphor for virtue, kindness, wisdom, civility, justice, music, sincerity, truth, Heaven, and Earth.

Rubies – A Gem Stone Associated with Power and Wealth

Ruby is a pinkish red to blood-red colored gemstone depending on the crystal structure that causes the variation in the color. It is durable. The ruby represents nobility, purity, and passion. Rubies can command the highest per-carat price of any colored stone. The ruby is considered a “stone of kings” and is associated with power and wealth. Some cultures believe that one benefit of owning a ruby is the ruby will protect the owner’s estate and help collect wealth.

Sapphires – A Corundum Gemstone

The sapphire stone is a corundum gemstone or an allochromatic stone. This means the gem’s color is derived from trace elements in its chemical structure. Without the elements, it would be colorless.

Sapphires symbolize wisdom, virtue, good fortune, and holiness for royals. It means faithfulness and sincerity.

There are many other popular gemstones used to make gemstone jewelry and keep as loose gemstones.

Inclusions Make Each Stone Unique

Certain gemstones have more inclusions than other gemstones. Inclusions are any material trapped inside the mineral at any point of the mineral’s formation. Inclusions can be gas-filled bubbles, insects, fractures, specks, etc. Needles, clouds, fluids, and crystals are also found in natural gemstones.

Some inclusions can be seen with the naked eye, while others can only be seen under magnification. Inclusion in a diamond may be seen as a negative characteristic. But in colored gemstones, inclusions can add value and beauty to the stone. The Lapis Lazuli is a popular gemstone with scattered pyrite inclusions against its deep blue body, making it look like the night sky.

The salt and pepper diamond is a diamond that has black and white inclusions. The cat eye is found in other gemstones because of the stone’s visible inclusions.

Demantoid garnets will sometimes have a wispy horse tail-like inclusion. The inclusion is associated with the gem coming from Russia.

Where to Sell Gemstones, A Particular Stone Like a Diamond, or Sell Your Gemstones Jewelry

You may not have a black opal, a Burmese ruby, or salt and pepper diamond to sell, but you may have a semiprecious stone or two or a pre-owned jewelry piece with a popular gemstone you don’t mind liquidating.

You may have inherited a gemstone and diamond necklace from your great aunt, and you don’t really care for it. You want to do something with it that would be meaningful. An option would be to contact potential buyers and see if you can liquidate the jewelry and use the funds to purchase something you like as an honor to your great aunt. To find buyers, you can look online. There are diamond buyers, search results for “who buys gemstones,” and pawn shops that give great prices for diamond jewelry, diamonds, gold, and precious metals.

Resale Value Of Gemstone Jewelry

Most gemstones don’t have high resale value. This being said, well-cut, undamaged, certified precious gemstones like rubies, emeralds, sapphires, and diamonds are the exception.

Gemstones are set in precious metals like gold, white gold, platinum, and silver; the settings themselves bring the best value. The market price, or spot price of the precious metal the stones are set in, is a major factor when selling unwanted gemstone jewelry.

To get top dollar for your previously owned jewelry, look at other factors that might add to the value of the gemstone jewelry. Is the jewelry perfect for a holiday gift? Is the jewelry perfect for someone’s collection? Does the gemstone jewelry have grading certificates that prove the value?

Grading certificates increase the value of a gemstone and help the store that buys the gemstone jewelry to give you the best price. If you are someone who is in the market to buy gemstones, ask if the stones come with a certificate and insurance appraisals. This will let you know what the piece is worth.

A jewelry store may be willing to look at and purchase your jewelry if you are ready to sell your gemstone piece. However, you may want to speak with a local pawnshop.

For competitive prices, pawn shops will consider buying loose stones such as loose diamonds, scrap gold and silver jewelry, and luxury jewelry. The stores will often melt down the precious metals from the piece you have for sale, sell it to a gold buyer, and sell the gemstones to a gemstone buyer.

Different factors like resale value, gold or precious metal content, grading, and if the jewelry you have to sell is of interest to the pawn shop.

If you are looking for the highest price, an honest appraisal, and an in-person deal, contact Idaho Pawn and Gold. The experts at the three pawn shops located in Boise, Meridian, and Nampa, Idaho, have testing equipment to help authenticate your jewelry and help you when you want to sell your gemstones. Knowing the right buyer for your stones is important when you want the highest price for your estate jewelry.

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Idaho Pawn and Gold

In speaking with Sam Reading, owner of Idaho Pawn and Gold, he said that consumers should know that 10k gold typically has synthetic gems and low-grade diamonds, and 14k gold uses medium-grade gemstones like sapphires, rubies, aquamarine, and emeralds. If a seller has the paperwork showing the GIA’s gemstone grading, the appraisal price will be higher.

He said the price point for diamonds is better if the stone is over one carat. Rapaport is the best online resource to estimate what a diamond is worth. Established in 1978, the site provides independent benchmark asking prices for the global diamond market. These figures are used to standardize, compare, and negotiate diamond prices.

Idaho Pawn and Gold sell diamonds, gold, silver, and other precious metals. They will also buy and write up a pawn loan for luxury items and fine jewelry. Voted Best In Idaho four years in a row, the company is a company with integrity and where people matter.

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