“Loans made on most anything of value”

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Richfield, Mn 55423

Posts Tagged ' jewelry'

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Frequently Asked Questions

If you need to borrow money quickly and without a credit check, the pawn/loan process can be very helpful. Bring in items of value as collateral to receive a pawn loan for an agreed amount, and then retrieve your item(s) upon repayment of the pawn amount within a specified period of time.

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.

Wedding Rings – Why Pay full Price?

Let’s look at opportunity cost. This is a basic economic principle defined as the loss of potential gain from other alternatives when one alternative is chosen. You walk into a prestigious jewelry salon and find that wedding ring of your dreams, for $5000. While most people might not second-guess putting a ‘price’ on something as special as a wedding, the reality of the matter is that if you spend $3000 on one instead, you’ll have $2000 of potential resources to allocate to something else – like the catering, or the reception hall, or the honeymoon!

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.

The Top Collectible Items in Pawn Shops

Pawn Shops are treasure troves for gold, silver, coins and collectibles. If you’re searching the Minneapolis, Twin Cities or St. Paul area for awesome items, you might be in luck. While pawn shops are often home to scrap, guns and lesser-valued items, they’re awesome locations for rarities, oddities, and wonders. These items have either high monetary or novelty value.

Why You Should Get Your Items Appraised At a Pawn Shop

Whether you are a buyer or a seller, the most important piece of information for you to know is the true value of your item. Without an accurate assessment, you could be overpaying for a purchase, losing money on a sale, or be so overpriced that no one will be interested. A Pawn Shop can be an excellent resource for determining the true value of a wide range of commodities.

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.

Use Your Tax Refund to Buy Gold

One positive outcome of finishing your taxes early is receiving your tax refund as soon as possible. Instead of wasting this year's refund on just another gadget which you will forget about or break by next year’s tax day, why not prepare for your family’s future by investing in gold?

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.             

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