A Smart Guide to Getting Cash Loans for Jewelry

Why Jewelry is Important:

Before jewelry was used to adorn mankind it was used to aid him in his quest for survival. Primitive man forged precious metals and stones into tools to hunt for food and build shelter. Men rather then women were the first ones to adorn themselves with jewelry to signify status and to aid them in battle. It was thought that by wearing amulets it would bring warriors good luck and victory over their enemies. Thus began the long history of the practice of ornamentation through jewelry.

Fun Facts about Jewelry:

• Throughout history jewelry has been used to ward off evil spirits in the form of amulets.
• The customary use of wedding rings for marriage dates back to 1477.
• The largest pearl in the world weighs over 14 pounds.

Why Use Jewelry to Get Cash Loans?

Even though during tough financial times it is necessary for people to seek a source of immediate cash they may not want to part with valuable jewelry on a permanent basis. Many times a piece of jewelry takes on value that cannot be expressed by a dollar amount. A family heirloom may have been handed down from one generation to the next or a sentimental piece may hold a special place in someone’s heart and letting go of it forever is simply not an option. For this reason some jewelry dealers will offer an alternative in the form of a collateral loan. Getting cash loans for jewelry can have many benefits including low rates, renewable interest, no credit check, immediate payment and no-recourse debt.

How to Get Cash Loans for Jewelry:

Items pledged as collateral are appraised by the jewelry dealer and then a short term cash loan is agreed upon. The jewelry is then stored by the dealer in a secure vault for the period during which the loan is repaid. The terms of the loan are usually straight forward and a reliable dealer will provide borrowers with low rates and renewable interest. Cash payment is immediate and loans can typically be rewritten by paying the accrued interest owed. If the loan can not be repaid for any reason it is considered no recourse debt, meaning it will not be reported to a credit agency and never needs to be repaid upon forfeiting the collateral item.
Important Things to Remember when Getting Cash Loans for Jewelry:

• Finding a reliable jewelry dealer that is well trusted is the first order of business when looking to get cash loans for jewelry. A reputable dealer will keep the loan confidential and give an appropriate appraisal for each piece of jewelry. They will also offer low interest rates on a collateral loan and enable a client to pay off their debt within a comfortable time-frame.

• The amount lent is most always dependant upon the wholesale value a specific item pledged with the resell price also taken into consideration.  The amount paid for a piece of jewelry is not usually a factor due to high markups.

Getting cash loans for jewelry is a reliable way to get an immediate collateral loan that does not require a credit check and is no recourse debt. It makes good sense for people who do not want to sell their jewelry but still need a cash resource. It is important to choose a dealer who will accurately appraise your jewelry and provide low interest rates. Knowing a buyer is reputable is one way to be assured of getting the best deal when getting loans for jewelry.

At David Levis and Sons Jewelry Buyers we believe in getting you the best cash loans for jewelry possible. We are the premier Jewelry Buyers in San Diego and pay more than anyone else for your gold, silver, platinum, diamonds, jewelry, watches and coins.  Contact us now to schedule an appointment or call us at (619) 238-9100.