When you're in a financial bind, you might be looking for a loan in a number of places so that you can get back on your feet. You might have heard that you could get a jewelry loan based on the value of different pieces you own. Before cleaning out your jewelry collection and giving it to the first dealer you come across, take a deep breath. Use the pointers that follow to proceed in a way that is fair to you without presenting the possibility of trouble in the future.

Know the Value of Your Pieces

The first step in securing a jewelry loan is to know what you're working with in terms of value. That way, you can select the most valuable pieces and avoid bringing in your entire jewelry collection and hoping that the dealer finds something they like.

How can you get an idea of what your pieces are worth? If you have silver and gold jewelry, you can start on the Internet. There are many websites for the commodities markets that offer the current selling price of an ounce of whatever precious metal is in the jewelry you want to use for your loan. Once you know how much an ounce is worth, you can weigh the pieces in question. That should give you some idea of what you can expect in loan amounts when you take it to a dealer.

Have Pieces Appraised

Having a personal knowledge of how much your jewelry is worth is smart, but it is even better to have a professional assess their market value. An appraiser can give a professional opinion of what the value of your jewelry pieces are if they were to be bought and sold in the open market. You can bring appraisal certificates to any dealer you'd like a jewelry loan from; you could be eligible for a higher amount of money because you can prove that your jewelry is worth as much as you say it is.

See More Than One Dealer

In your haste to secure a loan for yourself, you may feel the urge to take a loan from the first dealer you meet with. However, that can be a costly mistake. Different dealers have their own rules about jewelry loans, which can impact whether or not you will be charged additional fees or interest costs. Take the time to meet with several dealers in your area so that you can find a solid deal with the lowest personal costs.

When you're able to do the things discussed above, you can feel better about the jewelry loan you secure. Just be sure that you talk with local dealers to ensure the process works well for you over the long run.