“Loans made on most anything of value”

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

From the category archives: Metro Pawn and Gun

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.

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How to Turn What you Think is JUNK into MONEY

We’ve all heard the idiom “one man's trash is another man's treasure”, and it’s certainly an accurate statement. We can take it a step further and say that some things you once saw as treasure can end up being trash, so to speak. Back in the college days, you bought that brand new stereo system much to the envy of all your friends. It was replete with a dual-cassette unit and even a turntable, paving the way to production of endless ‘road-trip’ tapes. With a two channel amplifier and speakers the size of an average refrigerator, you were styling with the latest and the greatest. But times have changed.

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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.

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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!

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Checking In on Precious Metals

Precious metals are always on the radar at Metro Pawn & Gun. We buy, sell, pawn and provide loans for all manner of precious metals, ranging from jewelry to coins to bullion. Investors buy physical gold, silver, platinum, and other precious metals as an alternative asset and to protect against inflation and financial turmoil. Owning precious metals is a great way to diversify an investment portfolio because of its historical value and viability as compared to other less tangible assets.

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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.

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Things to Consider When Pawning Your Gold

Pawn shops can provide loans for your items, or purchase them outright. It all depends on whether you wish to retrieve your item at a later date, or just want to get rid of it altogether

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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.

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The Timeless Value of Used Jewelry

If you are shopping for an engagement ring or perhaps looking to reward yourself by investing in a fancy watch, Metro Pawn and Gun carries a great selection of used jewelry at amazing prices. We offer gold, silver and platinum rings, necklaces, bracelets, earrings and more. Some are simple and made of precious metals; others are embellished with gemstones and elaborate designs. One thing is certain - our selection has something for everyone, for every occasion.

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Why Visiting a Pawn Shop is like going on a Great Treasure Hunt

While many people may not think of a trip to the local Pawn Shop as exciting, these shops are a goldmine for the treasure hunter in all of us. Pawn shops have been around for thousands of years, the first shops originating in China. Their original purpose was, and remains, a way for people to turn their possessions into cash either by selling them outright, or " Pawning" them. This means getting a loan based on the value of the item.

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