“Loans made on most anything of value”

Serving the community since 1994
7529 Lyndale Avenue South,
Richfield, Mn 55423

Posts Tagged ' Coins'

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Gold – Why do you need it?

Gold is a precious metal and fairly rare element that has been used throughout history as a monetary system in the form of coinage, in jewelry and other forms of adornment, and in other arts as well. Although the world monetary gold standard was abandoned in favor of a fiat currency system in the 70s, the value of gold persists and actually continues to grow in spite of this.

Understanding the Pawn Process

“Pawning” is a process in which you bring an item into the pawn shop in exchange for a cash loan. For example, you might pawn a gold ring as collateral for a $150 loan. If you repay the loan by a predetermined date, you can retrieve your gold ring. The loan repayment amount will include interest and fees that are typically regulated by the state. You also have the option to extend the repayment time frame, although this will incur continuing interest. If you fail to repay the money on time, the pawn shop takes ownership of the ring and can offer it for resale. A large percentage of pawned items are reclaimed by their owners, but some are forfeited and thus provide inventory for the pawn shop to sell. Pawn shops also purchase items outright to resell, which is another way to provide clients with the cash they need and to acquire inventory for the store.

What’s HOT and what’s NOT….

Some things in the ‘general market of everything’ hold greater value and appeal than others. Technologies change, fads come and go, and styles evolve to reflect the consumers they target. There are also certain ‘fixed points’ in these markets – goods that are equally desirable, if not more so, at any given time.

Debunking the Five Leading Pawn Shop Myths

Pawn shops get a bad rap. While they certainly offer much-needed items at low prices, they’re not necessarily places of bad business, cheap items and scams. Despite being local establishments, pawn shops have a high amount of resources available. They use these resources to abide by the law, hold competitive rates and uphold community values. We’re debunking the top five myths surrounding pawn shops, one fact at a time.

Merry Christmas at Metro Pawn!

With the holiday season upon us, giving (and receiving) gifts is part of the cheer during this time of the year. No matter the winter blues, the inconvenient blizzards and the frosty car windows – a cup of steaming hot chocolate and classic holiday movies with the family makes everything right.

How to turn Silver into Cash

Silver has been valued as a precious metal throughout history. Used in many pre-modern monetary systems as currency, it also sports value in jewelry, industrial and commercial applications and medical science, and has always been a staple of investment endeavors. The value of silver fluctuates in relation to economic conditions and market variables, but it has always persevered through good times and bad alike.             

How is Gold doing these Days?

Starting the year out under $1100 per Troy ounce, gold has worked its way up to $1273.80 per ounce as of May 16, 2016. Used as a guideline of value for currencies around the world, the price of gold fluctuates due to a number of variables.

Tips for Pawning Items at the Pawn Shop

Pawning” is a process in which you give the pawn shop an item in exchange for a cash loan. For example, you might pawn your television as collateral for a $100 loan.  If you repay the loan by a specified date after you pawn the item, you can retrieve your TV. The loan repayment amount will include interest and fees that are typically regulated by the state. If you don’t repay the money on time, the pawn shop takes ownership of the TV and can offer it for resale.  Most of the items pawned are reclaimed by their owners, but some are forfeited and provide inventory for the pawn shop to sell. Pawn shops also purchase items outright to resell.

Silver – An Easy Way To Augment Your Investment Portfolio

For many centuries, silver has been regarded and valued as a precious metal. More abundant than gold and therefore not as costly, silver metal has often functioned as a coinable monetary system.  Beyond currency, silver has numerous applications such as jewelry, ornamentation, tableware, water filtration and as an investment in the form of bullion, to name a few. Silver is used industrially in electrical contacts and semi-conductors as it possesses the highest electrical and thermal conductivity of any metal.  Other applications include mirrors and window coatings, as well as in photographic film and X-rays. Dilute silver nitrate solutions and other silver compounds are used as disinfectants, added to bandages and wound-dressings, and incorporated into various medical instruments.

Should You Visit The Coin Shop Or The Pawn Shop?

We here at Metro Pawn & Gun are big fans of collectible coins, coins made of precious metals, and other rare coins and currencies. Coins from around the world and throughout the ages are not only valuable, but each one carries along its own little cross-section of history! Can you imagine where a WWII Nickel may have been?

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