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Samuelson’s Buyers

Easy Ways to Leverage Your Valuables for Cash

Jul 3, 2019

Learn how to use your valuables to get fast cash.

In a financial pinch and need some extra money? You have potential cash sitting right inside your jewelry box and tucked away around your home!

There are 2 ways you can use your jewelry and other valuables to get cash fast.

  1. Sell them
  2. Leverage the value of the items to secure a collateral loan

Depending on you situation and the type of valuables, these may both be viable options. As with any type of loan agreement though, asset-based lending does come with its own set of risks.

Option 1: Sell your valuables for cash

The things around your home have value. If you’re not using them or have been saving them up for a rainy day just like this, it’s time to put them to good use.

For example, here at Samuelson’s Buyers, we regularly evaluate and buy the following types of valuables from our clients:

  • Diamonds
  • Engagement rings
  • Watches
  • Estate jewelry
  • Coins
  • Gold
  • Silver

See more of what we buy

How much you can get for each of these items will depend on a variety of factors, such as their designer, condition, age, material, quality, and more. The only way to know for sure the worth of your valuables and how much someone would be willing to pay is to have them evaluated by a professional.

How to sell your valuables for cash

When you work with a reputable buyer, selling valuables is fast, safe, easy, and can result in a big payday. But there’s also never any obligation, so having the items evaluated and getting an offer doesn’t mean you’ll be forced to sell it in the end.

Here’s a breakdown of what you can expect:

  • All our evaluations are by-appointment-only, allowing us to provide a top-notch experience for you
  • Our jeweler will evaluate each item individually, using years of experience and training and the latest market value and demand to determine the value
  • Provide you with an offer
  • If you accept, we’ll pay you on the spot

Are there any downsides?

By working with a trusted local business that is well-known in the community, there are no risks to selling your valuables for cash. Really, the only factor holding some people back with this option is not wanting to part ways with a certain valuable.

Whether it’s a family heirloom, an engagement ring from a past marriage, or a watch you wore during college — there is such a thing as emotional value. We always recommend waiting to sell these types of items until you feel absolutely ready.

For gold and silver items, some people are also worried about whether or not right now is the best time to sell. The market on gold and silver is constantly fluctuating. An expert will know the current market value and yearly projections and can advise you on whether or not it’s in your favor.

Option 2: Borrow against your valuables

As we’ve just learned, the jewelry and other items you own have value. But when that item has emotional value and you’re just not ready to part ways with it forever, you can still use it to get cash. How? A short-term, jewelry-backed loan.

What is a jewelry-backed loan?

This type of loan is based entirely on collateral — there’s no credit check involved or complicated paperwork. The value of your loan is one hundred percent tied to the piece of jewelry or valuable in question.

During the length of the loan, the lender will hold onto your valuables. Once your loan terms expire, you can repay your loan (plus interest) and get your items back.

The exact terms of this type of loan will vary. For example, the collateral loans we offer here at Samuelson’s Buyers include:

  • Loans from $1,000 to $5 million and more depending on the value of your items!
  • 30 to 60 day loan terms with an option to extend if necessary
  • Low monthly interest rates

We often provide collateral loans to clients against valuables like…

  • Diamonds
  • Silver
  • Gold
  • Jewelry
  • High-end watches
  • Coins

How to leverage your jewelry for a collateral loan

Much like selling your valuables, using it as collateral for a loan follows a similar process. When choosing this route, always ensure you’re working with a reputable company and not an unknown pawnshop. This is incredibly important as it will help ensure your safety.

At Samuelson’s Buyers, we guarantee a high-end and trustworthy experience:

  • Trust – We’ve been in the jewelry business in Baltimore since 1922. We’re fully bonded and insured and our secure vaults hold your valuables while they’re in our possession.
  • Higher prices and low interest rates– Because of our extensive experience, we can offer you larger collateral loan amounts and can help you qualify for the lowest possible rate.
  • Secure & private experience – We ensure your safety and privacy during and after you appointment, and offer the best customer service around.

What are the risks?

As with any type of loan, there are some considerations to make before going down this path:

  • You’ll owe interest on the loan
  • What happens if you can’t repay the loan

If the 30 or 60-day terms of your loan have or are about to expire and you cannot repay the loan, you may be able to extend it. However, with that extension often comes a higher interest rate. In the end, if you cannot repay the loan, the lender will keep your valuables to pay off the debt.

The good news is, the majority of these types of loan faults are not reported to a personal credit bureau and don’t affect future borrowing capacity with traditional sources. However, if you owe interest fees, the lender may try to collect on that debt.

Whatever option you choose, we offer a safe and fast experience

We’ve all been there — faced with unexpected expenses and feeling the stress of a tight budget. Take a deep breath and remember you have options. Since 1922, we’ve been helping people just like you get the most out of their valuables and get the cash they need, fast.

Whether you want to sell your items to us or partner together to take a collateral loan, we’ll make sure you have an unparalleled experience. At Samuelson’s Buyers, you’re not just another customer, you’re like family. We’ll treat you with kindness and respect you deserve.

Contact us today to learn more or schedule your appointment

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