How to properly hand over silver to a pawnshop and not sell it short

Pawn shops are an excellent solution for owners of silver jewelry or kitchen sets that have gone out of fashion or simply don’t like. In this case, you can sell the products as scrap silver. And of course, the question arises, how much does a gram of silver cost in a pawnshop? It all depends on what you are going to do: hand over, pawn or buy jewelry. But before you get a definitive answer, it’s worth understanding how silver buying works.

Which one can be taken?

To prevent a trip to a pawnshop from being in vain, it is advisable to find out in advance where they sell silver. Some collateral offices are reluctant to work with this precious metal due to its low cost. Of course, if you don’t donate 925 silver, the price of which depends on the alloy additives included in its composition. For example, an alloy of silver and cadmium is valued much more than gold. But it is not profitable to hand over silver-plated items, since they are accepted at the same scrap price.

The silver the pawn shop is interested in is presented by:

• jewelry;
• cutlery;
• household utensils (trays, coffee pots, sugar bowls, etc.);
• accessories (cigarette cases, lighters, cufflinks);
• antiques;
• silver scrap (broken and broken items, steamed jewelry);
• technical silver (wires, wires, silver elements extracted from device parts).

Not all types of precious metal are accepted at such lending institutions. Some offices only accept scrap silver.

Returning silver jewelry without defects

According to Decree of the Government of the Russian Federation No. 55 of January 19, 1998, jewelry is included in the category of goods that are not covered by the provisions of the federal law “On the Protection of Consumer Rights” (Federal Law No. 2300-1 of February 7, 1992), which allows the return of goods of proper quality within 14 days after making the purchase.

This is due both to the high markup on cost that is typical for jewelry products (free returns of expensive items can critically reduce the manufacturer’s profitability) and to the risk of fraud (possible attempts to return a fake instead of a purchased precious item).

Important: when purchasing jewelry for yourself or as a gift, carefully check the suitability of the jewelry in size, shape and other parameters, because it can be returned or exchanged only with the voluntary consent of the seller.

Delivery process

When going to a credit institution, the client needs to decide on the method of depositing the precious metal. After all, the actions of pawnshop workers will depend on the purpose for which the client brought the valuables:

• for sale;
• as collateral for a loan.

In the first option, manipulations of weighing, measuring and evaluating silver products are carried out in the presence of the client. Completion takes 20–25 minutes. Next, a purchase and sale agreement is drawn up. Each product and scrap sold is indicated, the weight of each of them accurate to hundredths of a gram, the price per gram and amount, as well as the date of the transaction. The agreement is drawn up in two copies.

Silver jewelry and products in any condition, of any standard or without it, as well as technical silver and scrap are accepted for sale. The selling price is usually slightly higher than the deposit price. After reading and signing the contract, the client is given 1 copy of it and is paid the amount specified in it. After this, the valuables become the property of the establishment.

If the precious metal is handed over to a pawnshop as collateral for a loan, then the registration is carried out as follows:

1. Values ​​are weighed in the presence of the client.
2. The sample of the precious metal is specified.
3. They evaluate products.
4. If the client is satisfied with the estimated value, then a loan agreement or collateral agreement is drawn up. They indicate the type of product, estimated value, loan amount, date of receipt and return, as well as interest for the use of borrowed funds. A separate clause specifies possible penalties for violating the terms of the contract.
5. The loan agreement is drawn up in 2 copies: one is given to the borrower, the other remains in the institution.
6. After reading and signing the agreement, the client receives the entire loan amount in cash.
7. The collateral is placed in the pawnshop's storage for the entire duration of the agreement.
8. As soon as the client decides to return the loan and pays the accrued interest on it, the jewelry will be returned to him.

It happens that the client is not able to repay the loan at the end of the period specified in the contract. Then the pawnshop does not have the right to sell the valuables it holds as collateral within one month.

Buying and exchanging silver

Silver, like other expensive materials, is in demand among private buyers. If the item being handed over has artistic value, it is better to contact a specialized institution. Silver is also weighed, evaluated, and a price is set depending on its type and quality. As a test, the client can see for himself, since everything takes place in his presence. The most expensive is silver with a purity of 999. This is an ancient, but sought-after type of this metal. Silver is also exchanged with its other samples - 800, 916, 910, 925, the latter being the most common today. The cost of the delivered product is calculated depending on the price per gram. An institution specialized in the exchange and purchase of material sets a certain price per gram. Payment takes place immediately after the transaction is concluded, in cash. Like any other material, silver is left as collateral - the client has the opportunity to give it away for a certain amount of money and then buy it back. For this you need a passport. To sell silver jewelry at a high price, it is better to bring it clean and intact - without significant defects or damage. Although, in most cases, the staff does not pay much attention to the presentability of the product, since it will still be melted down.

Where to carry

Often, those who decide to take silver to a pawnshop for the first time have many questions. Thus, newcomers who are ignorant in this matter initially have to decide where to donate their silver. It is worth immediately warning that in this case you should not choose a loan office based on the principle of being close to your home, since you may run into scammers. It is better to try to find out in advance about all the commission institutions in the city and familiarize yourself with the conditions of their work.

The collected information will allow you to pawn silver in the pawnshop where the price per gram is high. The most trustworthy companies are those that are part of a large network of pawnshops or have been operating in this service market for at least 5 years. One of the conditions of the collateral (loan) agreement is the presence of a passport with which the visitor confirms his age. Such credit institutions work with persons who have reached the age of majority.

Reviews

Alexey Krivtsov
This is the only company in Moscow that agreed to evaluate a set of silverware based on a photograph. I wanted to know the preliminary cost of the products before taking them to the pawnshop. Everything is easy - I took a photo, sent it, and after a while I knew the approximate price. I arrived at a convenient time and received my money, everything was done quickly and professionally.

Victoria Andreeva

I inherited a set of silverware from my grandmother. In difficult times, my husband and I decided to give it to a pawnshop. The company very quickly examined the products, carried out the necessary examinations to confirm the presence of silver, and quoted a very reasonable price. It is very convenient that you can contact us at any time, the company works seven days a week.

Ekaterina Klimova

I donated silverware in Moscow to this pawnshop. It is immediately obvious that the company employs professional appraisers. In just a matter of minutes, the master carried out a chemical examination, after which he began a detailed inspection of the products. The company told me the best price for the set; before that I had never visited a single company where the price was blatantly underestimated.

Andrey Filonov

I would like to thank the company’s employees for helping me out in a difficult financial situation. When I urgently needed money, I decided to sell old silver spoons that had not been used for a long time. I carried out the assessment through the messenger and went to the pawnshop, roughly understanding how much money I was entitled to. Thank you for working online.

Prices at the pawnshop

Each collateral institution has the right to set prices for precious metals. And although the owners of these establishments are guided by quotes from the Central Bank of Russia, prices for silver in different pawn shops can vary significantly. You can find out what the price is for 1 gram of silver today only by visiting a pawnshop. Clients of bail agencies are often disappointed when they receive an amount that is much less than what they expected. In fact, if you take your silver to a pawnshop, the price will be several times lower than that of new products. This should not be surprising, otherwise it would be unprofitable for the establishment to carry out such a transaction.

However, the cost of silver in a pawnshop varies under the influence of several factors, the main ones being fineness and appearance. This is clearly shown by the data in the table presented.

In addition to these factors, the price at which silver can be sold depends on the ability to subsequently sell silver items or jewelry. Therefore, when handing over a silver service or cutlery that has an excellent presentation without the right of redemption, the pawnshop increases the price, and, therefore, you can get a larger amount.

When setting the price of a precious metal, much depends on the artistic value of the product.

It makes sense to hand over antique jewelry and silver items to a pawnshop that specializes in antiques. In this case, the estimated value will be much higher than that offered by other collateral institutions. You can sell a broken bracelet or an unpaired earring as scrap, which is valued at the lowest price. The final cost depends only on the weight of the silver scrap being handed over. Pawnshops buy scrap precious metals and send them to jewelry factories in large volumes for melting. Most pawn shops accept technical silver. Precious metal of this type, as a rule, has a high standard of 999. However, the price for it depends on the weight and complexity of removing it from various devices and elements.

How safe is it

When temporary insolvency occurs, many begin a painful search for the best option from whom they can borrow the required amount. One such option is a pawnshop, where you can deposit your silver jewelry as collateral and immediately receive cash. Often, a loan from such an institution is much more profitable than a bank loan in terms of documentation and speed of receipt. But compared to loans issued by banks, loans from pawnshops are not as popular.

Many people consider storing valuables given to a pawnshop as collateral risky. They doubt that they will get it back when they are able to repay the borrowed funds. However, such fears cannot be called anything other than far-fetched. Since the law obliges bail institutions to provide the necessary security conditions. In addition, the institutions themselves are interested in the safe storage of collateral silver. Because if it is lost, the client will not fulfill his financial obligations to the institution. Silver items are insured for safe storage.

Pawnshops in Moscow accepting gold and silver