Shopping Tips for Fall

How To Get Money From Your Engagement Ring Without Selling It

If you are short on cash, you might have found yourself looking at your engagement ring and wondering if there is a way that you can get money from it. However, even though you might really need the money, you might not want to get rid of your ring. This is totally understandable, and the good news is that you do have options for getting money from your engagement ring without selling it. These are a couple of options for doing so:

Swap Out Your Diamond

If your engagement ring has a large diamond, that diamond is probably what makes up the bulk of the value of your ring. What you might not realize is that you can actually sell the diamond and swap it out for a more affordable stone. Depending on the size and quality of your diamond, you might be surprised by how much money you can get for it. Then, you can replace it with a smaller and more affordable diamond, or you can choose another type of stone that is a bit more affordable, such as a cubic zirconia. This can be a good way to keep your actual ring while making a little bit of money off of the diamond, which might help you get through a hard time.

Get a Pawn Shop Loan

Another option for getting money from your engagement ring without actually selling it is by getting a loan from a pawn shop. Many pawn shops offer collateral loans on things like jewelry. With this type of loan, you will generally have to give the pawn shop your ring temporarily as collateral. Then, you can leave with your cash. Your ring will be kept safe, and you'll be able to get the cash that you need. Then, when you head back to the pawn shop to pay off your loan, you will get your ring back. Even though you will have to give up your ring for a little while, you won't have to sell it permanently.

As you can see, there are various ways that you can get money from your engagement ring that does not actually require you to sell the ring. If you are in a tough financial situation but if you are attached to your ring and do not want to sell it, you can try one of these options. Then, you'll be able to get the cash that you need so that you can improve your financial situation, but you will not have to give up your ring for good.

Contact a company like Dock Bros Pawn Shop for more information and assistance.