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What is My Jewelry Worth?

Sterling & Knight Jewelry & Pawn

Bolingbrook: 295 S. Schmidt   (630) 759-9100   

Hinsdale: 244 E. Ogden Ave   (630) 321-5600

Joliet: 205 N. Joliet St   (815) 727-2300

Villa Park: 109 E. St Charles   (630) 833-0800

A woman from Addison, IL came into my shop and asked me “What is my jewelry worth?” This is probably the most common question we are asked by our customers at Sterling & Knight Jewelry & Pawn. Our gemologist and jewelry experts will evaluate your items right in front of you, using the methodology and equipment described below.

How are you able to figure out an item’s worth? Our pawn loan amounts are based on your collateral’s current appraised value, the condition it is in at the current time, and how we feel the item will sell (will it sell within a reasonable time). We implement and utilize all the research equipment we have at our disposal in order to figure out an item’s value so you end up receiving the most money for your item.

How do you figure out the value of jewelry? Our experts test the valuable metals and diamonds in order determine its overall worth. Diamond testing includes:

  • A visual inspection-This is carried out using a jeweler’s loupe.
  • The diamond is weighed or measured – Using a diamond scale or a millimeter gauge.
  • Color, cut, and clarity of the diamond are all taken into consideration

How are metals tested? Metals are tested by utilizing a unique acid test that will determine how many karats are in the gold.  This will give you the peace of mind of receiving a clean, accurate test so we can give you the maximum loan you require.

How do you figure out the price of gold? We can determine the price of gold based on market values. These prices are constantly reviewed by our internal pricing department and updated as necessary. Prices do have the tendency to vary. For example, if you bring in a 24K gold piece, you can receive a higher loan amount if you had just brought in a 14K or 18K gold piece.

We have four locations to serve you! We are located in:


295 S. Schmidt Road Bolingbrook, IL 60440  630.759.9100

Hours: Monday 10 – 7:00 Tuesday – Friday 10 – 6:00 Saturday 10- 3:00


244 E. Ogden Ave. Suite 109 Hinsdale, IL  60521 630.321.5600


Hours: Monday 10 – 7:00 Tuesday – Friday   10 – 6:00 Saturday  10 – 3:00

Sunday by appointment.


205 N. Joliet Street Joliet, IL 60432   815-727-2300

Hours: Monday – Thursday 10 – 6:00 Friday 10 – 7:00 Saturday 10 – 5:00

Villa Park

109 E. St Charles Road Villa Park, IL 60181 630.833.0800 

Hours: Monday 10 – 7:00 Tuesday – Friday 10 – 6:00 Saturday 10 – 3:00

#SterlingandKnight #Jewelry #Pawn


If you refer a new customer to our store, you receive a 3% referral bonus, just like referring someone to host a Gold Party.

Please visit our website at

Thank you for your business and continued faith in our local, family owned business. We’ve had the privilege of working with wonderful customers and helping them in these troubled times.


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*(205 ILCS 510/2) (from Ch. 17, par. 4652)
Sec. 2. It shall be unlawful for any pawnbroker to charge or collect a greater benefit or percentage upon money advanced, and for the use and forbearance thereof, than the rate of 3% per month. Nothing in this Section shall be construed so as to conflict with the law pertaining to usury and the person receiving money so advanced may hold such moneys to pay any fees in addition to interest as herein provided.
Each pawnbroker, when making a loan under this Section, must disclose in printed form on the pawn contract the following information to the persons receiving the loan:
  1. the amount of money advanced, which must be designated as the amount financed;
  2. the maturity date of the pawn, which must be at least 30 days after the date of the pawn:
  3. the total pawn interest and service charge payable on the maturity date, which must be designated as the finance charge;
  4. the total of payments that must be paid to redeem the pledged goods on the maturity date, which must be designated as the total number of payments; and
  5. the annual percentage rate, computed according to the regulations adopted by the Board of Governors of the Federal Reserve System under the Federal Truth in Lending Act.
Each pawnbroker may contract for and receive a monthly finance charge including interest and fees not to exceed one-fifth of the loan amount, as set forth herein, for appraising, investigating title, storing and insuring the collateral, closing the loan, making daily reports to local law enforcement officers including enhanced computerized reporting, complying with regulatory requirements, and for other expenses and losses of every nature whatsoever and for all other services. Such fees, when made and collected, shall not be deemed interest for any purpose of law.
(Source: P.A. 90-477, eff. 7-1-98.)

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