“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

What Makes our Pawn Shop so Interesting?

We all know that pawn shops, ours included, deal in many common commodities. There are firearms, coins, jewelry, tools, home electronics, car audio and many other products you would expect to find at a pawn shop. But one of the most interesting things is that our inventory is always in motion, and by the very nature of a business like this, we sometimes come across unique items that do not fit into our general product categorization.

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Should you buy Jewelry at a Pawn Shop?

Consumer buying knowledge today is at an all-time high. With our capacity to instantly research any given topic or search for the best deal using the Internet, we are able to make informed purchasing decisions without so much as leaving the counter in a place of business. Virtually infinite information is available at the touch of a button or voice prompt on our smartphones and tablets.

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Merry Christmas from Metro Pawn & Gun!

The staff of Metro Pawn & Gun want to take this opportunity to wish everyone a Merry Christmas – may this holiday season bring joy and happiness to all!

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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.

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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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Sat: 10am-5pm
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