A do pawn shops take stainless steel jewelry (also called a pawnbroker) is a type of store where people can take in their unwanted or unneeded items in exchange for cash, typically at a high interest rate. It’s common for customers to pawn jewelry and electronics, but they can also pawn furniture and other larger items.

The pawnbroker will check that the item is genuine by holding it up to a magnet. If it sticks, then the piece is most likely stainless steel. Stainless steel is a strong metal that can be manipulated to mimic the appearance of sterling silver, and it’s much more durable than sterling silver too. Stainless steel can also be made to look like precious metals such as gold and silver, so it’s quite an appealing alternative.

Do Pawn Shops Take Stainless Steel Jewelry? Find Out

Precious metals, and gemstones in particular, hold their value quite well compared to traditional currencies, so jewellery containing these materials is often in high demand at a pawnshop. Expensive watches are another popular type of jewellery that pawnbrokers tend to sell on. However, the dollar amount on a pawn shop sticker is rarely etched in stone and you’re often able to bargain with the pawnbroker to get a better price.

A big drawback of pawning is that should you fail to repay your loan in the allotted time period, you will lose your item. But, unlike a credit card debt default or other types of loan default, failing to repay your pawnshop loan won’t damage your credit score and you won’t be harassed by debt collectors.