Simpson's Jewelry / Est. 1895

Selling Your Jewelry vs. Getting a Jewelry-Backed Loan

At Simpsons Jewelry, we understand that there are a lot of reasons you might want to sell your jewelry. You may have an unexpected expense pop up, you want to move on from an unpleasant memory, or you simply don't want the jewelry item anymore. Whatever reasons you may have for bringing in your jewelry for a loan or a sale, both offer confidentiality and give you cash on the spot. That's why at Simpson's Jewelry, we make it easy to sell your jewelry or to get a jewelry collateral loan. In business in the same location in Philadelphia, Pennsylvania for over 100 years, we are experienced in pricing all kinds of vintage jewelry, antique jewelry, fine gold, diamonds, watches, silver service, and coins. As a licensed pawnbroker, we are confident our jewelry store and jewelry pawn shop will give you the best price for your jewelry.

Because of recent near-record precious metal and diamond price highs, you can be assured that you will get the best offer for your jewelry. How do you know which route is best for you? Below is a helpful guide on how to decide which one meets your needs.  

Selling

What it is: Selling your jewelry for cash.

How it works: We will evaluate your jewelry and make an offer. This offer is based on our opinion of how much we feel your item can be resold for. If our offer is acceptable, you'll get cash on the spot. If the offer is not acceptable, you are not obligated to us in any way. Here is more about selling your jewelry.

Why you should sell: The best reason to sell your jewelry instead of making a loan is because you'll receive MORE MONEY. If you no longer wear your jewelry, it is broken or you simply don't want it any longer, selling it is your best option. Please remember that if you sell your jewelry, you normally won't be able to get it back.

What to know: Most importantly, you want to make sure that the person appraising your jewelry is a qualified professional to ensure that you are getting the best price. You don't want to send your gold away in the mail like so many of these online gold wholesalers claim. Some wholesalers will melt down your gold to find the true weight – leaving you without your original piece if you end up not liking their offer.

Sending away your valuable pieces is unsafe and the offers you will receive will not come close to that of a certified jeweler. A jeweler with a solid reputation isn't going to gamble their credibility to make an extra buck by cheating you.

Trying to decide what to do with your jewelry can be an emotional decision. Simpson's Jewelry will make sure that you are getting the full value for your piece. Whether you are getting a loan or selling your jewelry, they have the experience to assist you and will give you the highest market value. Call today at 215-253-4657 or stop in their store at 116 S. 12th St. in Philadelphia.

Jewelry-Backed Loan

What it is: When you make a loan with us, you retain title to your jewelry. You are merely leaving it with us as collateral in case you fail to pay for the loan in accordance with the terms of the loan agreement. Here is more information regarding a jewelry backed personal loan.

How it works: A reputable jewelry appraiser will value your piece and offer you a loan based on the worth of your item. You'll agree to terms and they will give you cash or a cashier's check on the spot, and hold your item as collateral.

Why you should use your jewelry for a loan: A loan may be the best fit for you if you just need cash quickly, you do not wish to part with your jewelry and you'll have the means to pay back the loan. It removes the pressure of having to sell and doesn't require a credit check.

Of course, always read the small print to make sure that the terms you're agreeing to are satisfactory and fair.