If you're digging through an old jewelry box and wondering is 585 gold pawnable, the short answer is a definitive yes. Most pawnshops are more than happy to take 585 gold because it's one of the most common purities found in jewelry across the globe. Whether it's a ring you inherited from an aunt or a chain you bought years ago, that "585" stamp is basically a green light for a quick loan or a cash sale.
But before you rush out the door to the nearest shop, there's a bit more you should probably know. Not all gold is treated equally, and understanding what that number actually means can save you from leaving money on the table.
What exactly does 585 mean anyway?
When you see "585" stamped on a piece of jewelry, it's just a fancy way of saying it's 14-karat gold. In the jewelry world, gold is measured in parts per thousand. So, 585 means that your item is 58.5% pure gold. The rest of the piece is usually a mix of other metals—things like copper, silver, or zinc—which are added to make the gold harder and more durable.
Pure gold (24k) is actually pretty soft. If you had a ring made of 100% pure gold, it would bend and scratch if you even looked at it wrong. That's why the 585 alloy is so popular; it hits that sweet spot where it looks beautiful but can actually survive being worn every day. In many parts of Europe and Russia, the "585" stamp is the standard, whereas in the US, you're more likely to see the "14k" stamp. They're effectively the same thing.
Why pawnshops are happy to see 585 gold
Pawnshops love gold because it's a liquid asset. It doesn't lose its intrinsic value just because it's used or out of style. If you're asking is 585 gold pawnable, you have to understand how a pawnbroker looks at your item. They aren't necessarily looking at the craftsmanship or the brand name (unless it's something like Cartier or Tiffany). Mostly, they're looking at the melt value.
Since 585 gold has a guaranteed gold content, the pawnbroker knows exactly how much pure gold they can extract from it if they had to melt it down. This makes it a very "safe" item for them to loan money against. If you don't come back to pay off your loan, they can simply sell the gold to a refiner and get their money back. That's why you'll almost never find a pawnshop that turns away genuine 585 gold.
How much cash can you actually get?
This is where things get a little tricky. Just because your gold is worth a certain amount on the global market doesn't mean the pawnshop is going to hand you that exact amount in cash.
First, the broker will weigh your item. They usually use grams or pennyweights. Then, they'll check the current "spot price" of gold. Since your item is 58.5% gold, they'll calculate the value of just that percentage of the weight.
However, a pawnshop has to make a profit and cover their overhead. They also have to account for the risk that the price of gold might drop. Usually, you can expect to receive anywhere from 50% to 75% of the actual melt value of the gold. If you're pawning it (taking a loan), you might get a slightly different offer than if you're selling it outright.
It's always a good idea to check the current gold price online before you go in. That way, when they give you an offer, you'll know if they're being fair or if they're lowballing you.
How to find the 585 stamp on your jewelry
If you aren't sure if your jewelry is 585 gold, you'll need to do a little detective work. Grab a magnifying glass—or just use the zoom on your phone camera—and look for a "hallmark."
- Rings: Usually, the stamp is on the inside of the band.
- Chains and Bracelets: Look at the clasp or the small metal tag near the clasp.
- Earrings: Check the posts or the backings.
Sometimes the stamp is worn down from years of rubbing against skin, but it's usually there. If you see "585," "14k," or "14kt," you're in business. If you see "GP" (Gold Plated) or "GF" (Gold Filled), that's a different story. Pawnshops usually won't take plated items because the actual gold content is almost zero.
Does the condition of the jewelry matter?
Here's some good news: if you're pawning 585 gold for its scrap value, the condition doesn't matter much at all. A broken necklace, a single earring, or a mangled ring still contains 58.5% gold. The pawnshop will weigh it all the same.
Now, if the piece is particularly beautiful or comes from a famous designer, you might want to point that out. In those cases, the shop might offer you more than just the "melt" price because they think they can resell it as jewelry rather than sending it to a refinery. But for the most part, don't worry if your gold is scratched or broken—it's still very much pawnable.
What about the stones?
Many 585 gold pieces are set with diamonds or other gemstones. This is where people sometimes get disappointed. Unless the diamonds are significant in size (usually over 0.25 or 0.50 carats) and of decent quality, many pawnshops won't add much to the offer for the stones. Small "chip" diamonds or semi-precious stones like amethysts or citrines often don't add any value to the pawn offer.
If you have a ring with a large, high-quality diamond, it's worth mentioning. But if it's just a bunch of tiny stones, the pawnbroker is likely going to focus almost entirely on the weight of the gold.
Tips for getting the most money
If you've decided to go for it, here are a few ways to make sure you get the best deal:
- Clean it up a bit: Even though the gold is worth the same dirty or clean, a shiny piece of jewelry looks more valuable. A little warm water and mild dish soap can go a long way.
- Shop around: Don't just go to the first pawnshop you see. Different shops have different "payout percentages." One might offer you 60% of the melt value while the one down the street offers 75%.
- Be ready to negotiate: Pawning is one of the few places where haggling is still totally normal. If they offer you $200 and you were hoping for $250, say so. They might meet you in the middle.
- Know your weight: If you have a kitchen scale, weigh your gold at home first. Knowing that you have 10 grams of gold before you walk in prevents any "accidental" miscalculations on their end.
Pawn vs. Sell: Which is better?
If you need the money but you really love that piece of jewelry, you should pawn it. This is essentially a short-term loan. You give them the gold, they give you cash, and you have a certain amount of time to pay it back (plus interest) to get your jewelry back.
If you don't care about the jewelry anymore and just want the cash, sell it. You'll usually get a slightly higher price if you sell it outright because the pawnshop doesn't have to worry about storing it and waiting for a loan period to expire. Plus, you don't have to worry about interest rates or deadlines.
The final word on 585 gold
At the end of the day, is 585 gold pawnable? Absolutely. It's one of the most reliable things you can bring into a pawnshop. It's a recognized standard of purity that holds its value well, regardless of what the economy is doing.
Just remember to manage your expectations. You won't get the full retail price you paid at a jewelry store—not even close—but you will get a fair amount of cash based on the weight and the current market. As long as you check for that 585 stamp and do a little bit of homework on current gold prices, you'll be in a great position to get the cash you need.