What you need to know about pawning your gold engagement/ wedding ring

What you need to know about pawning your gold engagement/ wedding ring

Diamonds are meant to be forever which is why people get engaged and married by putting diamond encrusted rings on their fingers. However, we know that whilst diamonds might be forever, marriages don’t always last forever. When a marriage dies out, the ring can hold painful memories. Instead of throwing the ring away, you can sell the ring to a pawn shop Brisbane. Get rid of the past and the things that tie you to painful memories.

Where does this idea of diamond encrusted gold rings from? Rings didn’t start out as symbols of love. Like many western customs we practice today, engagement or wedding rings have ancient Roman ties. Roman women used to wear rings made of copper, iron, flint or even bone to show off that they have entered into a contract with another man and the wearing of the ring affirmed that they have pledged their love and obedience to this man and his family. It’s pretty much what marriage is for most women to this day. However, the wearing of rings also signified a business contract.  

Archeologists found gold rings in the ruins of Pompeii and in other archeological digs of ancient Roman cities and settlements. This signifies that gold was largely the metal of choice. 

Gold only because the official mark of marriage in 850 AD when Pope Nicholas I declared that a man needed to show his intent to get married to a particular lady by presenting her with a ring. Gold was the metal of choice because it represented wealth, and because it did not tarnish like other metals. In the beginning, a simple band was enough but in 1477 Maximilian, the Archduke of Austria proposed with a gold ring featuring long, narrow diamonds in the shape of an “M” to Mary of Burgundy. 

The Archduke might have come up with the diamond encrusted ring first, it didn’t make him a trendsetter. The South African based, British diamond company De Beers launched a massive marketing drive in 1947 with a star-studded ad campaign about Diamonds being forever. From then diamonds became thee sought-after stones. In recent times however, there has been a shift away from traditional gold and diamond engagement rings to rings made with other precious stones, and once again the trend seems to be propagated by Hollywood. There’s Blake Lively pink diamond from Ryan Reynolds, Katy Perry’s ruby from Orlando Bloom. The changing trends is one of the major reasons why a pawn shop Brisbane would give you a price for the gold rather than the stone. The value of gold is not overly affected by changing fashions. 

Pawn shops base their pricing  on factors like weight and karat, the demand for gold and the pawnbroker’s discretion. The purity of jewellery is often stamped somewhere on the piece of jewellery. The higher the number, the higher the level of purity of gold in your item. It is pretty unlikely that you will find jewellery made of 24 karat gold. Gold at that level of purity is too soft and not as durable as it needs to be for a piece of jewellery that gets worpn every day like an engagement or wedding ring.

Once you find the karat of your gold ring you need to weight it. Use a jewellery scale to determine the weight of your gold. Factors like supply versus demand, current political events and speculation can cause the price of gold to fluctuate a lot which can leave you in a grey area. The important thing for any Pawnbroker is profit, so if you work out that your ring is worth $1,000, you may end up with a loan offer of $350. And unfortunately, that beautiful stone might turn up not to be worth much but $350 is still $350 that might come in handy when you find yourself in a financial bind. 


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