Pawn shop. What do you think of when you hear these two words? Many people immediately picture the Silver and Gold Pawn Shop from the History Channel’s popular show, “Pawn Stars”. Others may recall the seedy looking businesses depicted in black and white movies. Places frequented by criminals needing to unload their “hot” loot. Most of today’s pawn shops fall somewhere in between these two extremes. They are not as glamorous as the TV pawn shop and more of a legitimate business than the shops where stolen goods were fenced.
When you enter a pawn shop, the first thing you notice is the variety and abundance of merchandise. Jewelry, silver and gold coins, and musical instruments are just a few of the items people bring in to be pawned. What does it mean to pawn something? The most simple explanation is this. A person needs cash and he needs it quick, so he takes a piece of jewelry to the pawn shop. The pawn broker appraises the item, then tells the owner how much money he is willing to loan him. The jewelry is kept as collatoral. The customer then has a certain amount of time to pay off the amount of the loan, plus interest. If the loan is paid off on time the customer can reclaim his property. In the event he defaults on the loan, the jewelry then belongs to the pawn shop. The pawn broker sells the item to recoup his loss.
As the price of gold has increased, so have the number of businesses that buy gold coins and jewelry. Gold Buyers Chicago offer their customers the fair market price for their gold and silver items. People all across the country have taken advantage of the increase in gold prices. Rummaging through jewelry boxes and dresser drawers is like going on a treasure hunt. Your old chains from the 90’s could literally be worth their weight in gold. Selling your gold is very simple. When you visit any of the Gold Buyers Chicago all you need to bring with you are the items you want to sell and a picture ID. Your gold is weighed to determine its yalue, you complete some paperwork, and walk out the door with cash in your hand
If you find yourself in need of emergency cash, pawning or selling your unwanted gold is the quickest and easiest way to get it.
