Wednesday, June 16 2021
Pawning an item can be an excellent way to access cash fast.
How it works is simple: you bring an item of value into a pawnbroker like Cash Express. We evaluate the item and offer you a loan with certain terms based on our appraisal of the item. If you accept the loan, we hold onto the item as you pay back the loan.
Once you pay back the loan, we hand you the item. No credit checks, no long applications, no denials for bad credit.
It’s easy enough and helps plenty of people cover financial gaps every day. However, you may be a bit confused if you’re new to it, so we put together a few quick tips to pawn your items with confidence.
1. Do Your Research
First and foremost, nothing instills confidence like doing your homework. Spend some time online trying to discover how much your pawnable items might be worth.
Depending on the item, nailing down exact numbers might be hard — not to mention every pawn shop differs. Still, this can help you determine which item to pawn based on how much money you need.
2. Set Realistic Expectations
Pawn shops generally hand out more money for a pawn loan than they do when outright buying an item. They’re willing to do so because they’re likely to get their money back at some point.
Still, despite doing your research on the item, you may not get the exact amount you want when you bring the item in. Pawn loans still create some risk for the pawn shop, after all. Additionally, the pawn shop may discover something else about your item that changes how valuable it is.
With these in mind, set realistic expectations for the final loan amount you might receive.
3. Decide How Much You Value Your Item
Ideally, you pay back the loan and the pawn shop returns the item to you. However, if you fail to pay back the loan, the pawn shop takes possession of your item.
Thus, decide how much you value the item. If it’s, say, a piece of family heirloom jewelry, you may not want to take the risk.
However, if it’s a ring from an ex, or maybe one of many guitars you own (and not one of particular value) you may not stress too much if you fail to pay back the loan.
The good thing is that (as mentioned) your score won’t take a hit from failing to pay since no credit check occurs. The worst that happens is you lose your item.
4. Visit a Reputable Pawnbroker Specializing in Your Item
Pawn shops sometimes get a bad reputation because of a few bad apples. These bad apples do exist, but the majority of pawn shops are excellent places willing to get you a good price on any valuable item you bring in.
With that in mind, try to find a pawn shop that specializes in the item you’d like to pawn. For example, if you have a nice guitar, look for a pawn shop in your area that mainly buys/sells/pawns musical instruments.
If you’re looking for a pawn shop in Philadelphia, look no further than Cash Express. We especially love jewelry and precious metals, but don’t let that stop you from bringing in other items! We’d be happy to take a look and get cash into your hand as soon as today. Feel free to give us a call at (215) 922-1560 or come stop by to learn more!
Monday, May 24 2021
Your local jewelry store isn’t your only option for finding and buying high-quality fine jewelry. In fact, your local pawn shop might work better for you.
So if you’re in the market for a fine piece or two, here are 6 reasons to get it from a pawn shop.
1. Great Prices
We all know fine jewelry carries a hefty price. But pawn shops can offer much lower prices than jewelry stores because the pieces are used — yet used doesn’t mean “bad condition”. Many pawn shops have pieces that are almost as good as new, yet cost a fraction of “new”.
2. Price Flexibility
Is a piece still out of your budget, but you want it? No worries — some pawn shops may be open to a bit of haggling.
That said, not all are. In this case, you can still bring in your own items to sell or for a pawn loan, then use your proceeds to purchase the piece you want.
Alternatively, some pawn shops even offer layaway. It never hurts to ask a pawn shop to see if they’re willing to work with you on a payment plan so you can afford that lovely piece.
Pawn shops specializing in jewelry have a wider selection than you might think.
That’s because they get pieces from all over — everything from major jewelers to small, independent operations may have pieces show up in your local pawn store. You effectively get to “visit” several jewelers at once while scoring a great deal on any piece you buy.
4. Confidence and Quality
Reputable pawn shops thoroughly test every piece that comes through their store for authenticity before putting it on their shelves for sale.
Plus, pawn shops repair and renovate pieces to make sure your choice of jewelry is in great shape. Whether it’s clearing up surface scratches or changing the clasps, you can rest assured that your piece is genuine and in fantastic shape.
5. Knowledgeable Pawn Shop Staff
Jewelry is quite a deep and broad field. Trying to learn the nitty-gritty of jewelry and precious stones can be pretty overwhelming.
Luckily, pawn shop staff — especially those at stores specializing in jewelry — are knowledgeable on all things jewelry. Whether you have questions about what a “karat” is or you need help finding a good engagement ring, pawn staff are often able to help you out.
6. For The Environment
As much as we love jewelry, creating new pieces can be bad for the environment. By buying used at a pawn shop, you’re reducing your environmental footprint by cutting the demand for new jewelry and precious stones.
So now you save money and help the environment. Not a bad deal.
Looking for jewelry in the Philadelphia area? Don’t break the bank. Instead, come down to Cash Express pawn shop. We love jewelry and precious stones, so we’ve got plenty of those at great prices. And if you have some fine jewelry that you’d like to pawn or sell, we'd love to take a look and get you a fair deal. Stop into our store today!
Friday, May 21 2021
If you’re ever in need of some quick cash, pawning items can come in handy. Pawning your item at a pawn store lets you take out a short-term pawn loan. These loans have no credit requirements, and the worst that can happen is you lose your collateral for failing to pay.
Pawn loans provide borrowers with a couple of obvious benefits, but how exactly does the pawn shop figure out how much to loan you? In this article, we’ll go over the criteria pawn stores look at to provide you with a loan amount.
First and foremost, a pawn shop needs to appraise the item to find out exactly how much value the type of item works. The actual appraisal process can vary depending on the type of item. For example, a firearm will be examined and appraised differently than diamond earrings.
Some pawn shops are able to bring in expert appraisers for specific types of items, kind of like on Pawn Stars. However, many aren’t able to do that. They may have someone in-house who’s knowledgeable about the item, but the pawnbroker themselves might appraise the item based on prior knowledge and online research.
Next up is the item’s condition. The better the condition, the higher the potential loan amount. Brand new items are the best, of course, but used items in good condition can still fetch a solid loan amount. Even items in so-so condition can get you something.
That said, pawn shops test some items to make sure they work correctly (if applicable). If the item doesn’t work, you won’t have much luck getting a loan.
For example, a pawn store specializing in musical instruments may play the guitar or amp you’re pawning a bit to make sure things are working right.
Demand is a significant factor, too. Pawn shops will pay more for items they think they can turn around and sell fast for a good profit margin.
This is why items like diamonds and jewelry (and diamond jewelry) are so popular with nearly all types of pawn shops, even some that don’t specialize in them. Pawn shops can offer much lower prices than jewelry stores for precious stones and jewelry in great condition, attracting plenty of buyers. Yet, at the same time, these pawn shops can earn a healthy margin.
This also goes for different types of the same item. A well-known luxury watch brand like Rolex will be in higher demand than something like a Fossil watch (in most instances).
So now you know a few things that go into pawn store lending decisions. If you’ve got an item you’d like to pawn, bring it on to Cash Express in Philadelphia — especially if it's jewelry or a precious stone. We’ll get you a fair price on your item and have you out the door with money as soon as today. Stop by our pawn shop today!
Thursday, April 29 2021
Pawn shops do buy items from customers. However, they also allow borrowers to bring in an item of value and use it as collateral to secure pawn loans. Securing your loan with an item is known as pawning.
Pawn shops often prefer pawning over a customer selling them something because they can get their money back. It offers flexibility.
However, pawn shops aren’t the only ones who benefit — you do too.
In fact, a pawn loan can be a better choice than traditional methods for some people.
With that in mind, here are a few advantages to pawning an item over getting a loan from a traditional source.
No Applications, Income Verifications, or Credit Checks
Borrowers with a short credit history or poor credit score may feel shut out from traditional lending options, such as personal loans.
Even many no-credit-check loans still may require a certain income and that you be employed.
Pawn loans ask for none of those things. There are no lengthy applications, credit-damaging credit checks, risk of being turned down for bad credit or income or need to even have a job.
All you need is an item of value that you’re willing to put down as collateral for the pawn loan.
Most traditional loans can take anywhere from one day to a couple of days to get you your funds.
On the other hand, you can obtain a pawn loan in a few hours. That’s because pawn loans don’t have the red tape that traditional lenders face. All a pawn shop has to do is evaluate your item and determine the loan amount and terms.
Low Risk on the Borrower’s Part
Supposed you get a traditional loan without collateral. Somewhere down the line, you hit financial trouble and can’t pay it back.
You’ll face late fees, harassment from collections agencies, and even bankruptcy if it gets bad enough.
Some types of poor credit loans, like payday loans, aren’t always a better solution. Defaulting on those can bring the same consequences, along with overdraft fees, garnishments, and more.
Pawn shop loans? The worst that happens is that the pawn broker takes possession of your collateral.
No credit damage. No collections harassment. No exorbitant fees. Plus, many pawn shops let you extend your loan for an extra fee if you need to.
Ok, but some traditional lenders offer secured loans. Doesn’t that make them better than pawn loans?
Well, even if you default on a traditional secured loan, your credit score takes a large hit. That’s on top of losing your collateral.
If you think a pawn loan in Philadelphia might be right for you after reading this article, bring your collateral down to Cash Express and let us have a look. You’ll get the best amounts and terms for jewelry and precious metals, but we love other valuables as well. Visit us today!
Friday, April 23 2021
Out of all the types of items you could bring to a pawn shop and pawn or sell, jewelry and precious stones tend to be the best.
But diamonds, in particular, are exceptional items to pawn. Pawn shops will pay good money to get their hands on these.
With that in mind, here are three reasons diamonds are good for pawning.
1. They’ve Valuable
Let’s get the obvious one out of the way — diamonds are valuable. They’re simply worth a lot of money due to rarity and beauty. Consequently, most pawn shops will be eager to get their hands on your diamond and will pay a fair price for it.
2. No Degradation
Many items that start out as valuable or expensive can lose their value fast. Look no further for an example than most luxury cars. Today’s BMW 5-series will cost a fraction of its new price a year down the road after being driven around.
Another great thing about diamonds, though, is that despite being so valuable, they don’t degrade over time. Thus, their value won’t go down much (if at all), especially compared to other luxury goods.
If you’re pawning your diamond for a loan, you can get pawn loans tons of times over the length of your ownership without seeing a drop in the diamond’s value.
If you’re selling, pawn shops will be all the more eager to buy because that diamond can sit on their shelves forever without becoming less valuable.
Diamonds may be pricey, but that’s exactly what makes them so great to pawn. Pawn shops can offer diamonds — an item that’s already in demand — at a nice discount for being second hand, making them easy to sell quite fast. Thus, pawn shops are more than happy to pay a good price.
This is especially true for diamond rings. A lot of people head to pawn shops to get beautiful diamond rings to propose (or for something else) without breaking the bank.
Overall, if you’re short on cash but have a diamond or diamond jewelry sitting around that you don’t need, you can turn it into a large sum of cash fast at a pawn shop.
Have any diamonds sitting around you don’t want? How about diamond jewelry, or any precious stones/jewelry for that matter? At Cash Express, these are among our favorite items. If you bring yours in, we’ll be happy to take a look at your items and provide you an excellent offer fast. You could have cash in hand within the day. Stop in to Cash Express in Philadelphia today!
Monday, April 05 2021
Thanks to shows like Pawn Stars and Hardcore Pawn, a wide swathe of the population is at least slightly familiar with pawn shops and how they work.
However, there are still many misconceptions about pawn shops.
Can they be trusted? Do they offer good deals?
Let’s explore the answers to these questions.
How do Pawn Shops Work?
Pawn shops are essentially a place where people can buy and sell various valuable items. People with stuff to sell come in with their items, negotiate a price, and sell the item to the pawn shop.
Additionally, people can use their items as collateral for pawn loans. Borrowers can get these loans within hours, and there are no applications or credit checks. If they fail to pay back the loan, they simply lose the item to the pawn shop — no credit consequences or collections agencies are involved. The item becomes 100% owned by the pawn shop.
Those are how a pawn shop gets items on its shelves.
If someone finds something they want on a pawn shop shelf, they can negotiate with the pawn shop, settle on a price, and go home with their new item.
What Kinds of Products Do Pawn Shops Offer?
Pawn shops deal in all sorts of items, so you may not find the same inventory in a pawn shop from day to day.
That said, pawn shops love items of high value. Thus, there are several items you’ll commonly find at many pawn shops:
Since pawn shops deal in second-hand items, you can often find luxury items for less-than-luxury prices. This makes pawn shops an excellent option if you want to buy someone a nice gift without breaking the bank.
Now, pawn shops may specialize in certain items.
Some may deal mostly in jewelry and precious metals/stones, while others may have more electronics and perhaps musical instruments. You may have to visit a few pawn shops to find the best selection and deals on the items you want.
Can You Trust Pawn Shop Purchases?
Pawn shops have an unfortunate stigma of dealing with stolen items. However, an almost negligible number of stolen goods pass through pawn shops.
Most pawn shops partner with law enforcement at various levels to track items that flow through pawn shops. If a stolen good is identified, pawn shops work together with law enforcement to make sure the item returns to its proper owner.
Laws differ by state and locality on what you have to do if you buy an item that’s later reported as stolen. Read up on these to see if you have to return the item and if you can expect your money back.
Come down to Cash Express in Philadelphia to check out our deals. We have plenty of jewelry, precious metals, musical instruments, and much more. If you’ve got something you’d like to pawn, we’d be happy to take a look as well. Visit our store today!
Friday, March 19 2021
Sometimes, you need a bunch of cash in a short timeframe. Traditional loans like banks won’t cut it in these instances because you have to jump through too many hoops.
If you’re in this situation, you might have considered pawning one of your items at a pawn shop.
But is this a good idea? Or should you find fast cash somewhere else?
Well, pawn shops are excellent places for getting a loan in little time, actually. Here are some reasons why.
Same-Day Approval and Funding
As mentioned earlier, most traditional loan types can take days from starting your application to receiving your funding.
For pawn loans, however, you can be in and out the door with your money within the same day. If you truly need money today, you can get it at a pawn shop.
No Credit Check Required
Many Americans in need of some extra cash are denied loans due to having too low of a credit score.
They have nowhere left to turn in terms of getting cash — merely on the basis of a few numbers.
Additionally, credit checks harm your score. The last thing you want is your credit score to take damage and to get denied a loan.
At a pawn shop, things are different. There are no credit checks because you secure your loan with the item you pawn. As long as you have something of sufficient value, you won’t be turned down for a loan at a pawn shop. Plus, your credit score will remain untouched.
Sometimes, things happen. You may struggle to pay back your loan, or even find yourself unable to do so.
With traditional lenders, you’d face serious fees and credit damage should you fail to make payments. If you default, they can send collections agencies after you, and your life can turn into a nightmare fast.
But with a pawn loan, you can get out just fine.
Sometimes, you can ask the pawn shop for an extension for an added fee.
And if worse comes to worst — you can’t pay back your loan — all that happens is the pawn shop takes possession of your collateral.
No credit damage, no collections agencies, and no bankruptcy filings.
Obviously, we prefer you pay your loan back in full and time. But know that if you’re financially struggling and can’t pay back your loan, the consequences of “defaulting” on a pawn loan aren’t that bad.
Looking for some fast cash in Philadelphia? If you have an item you’re willing to put down as collateral, Cash Express would be happy to take a look at it and give you a fair offer. You could walk out with cash in your hand within hours. Come down to our store today!
Thursday, March 04 2021
Most people know that pawn shops are excellent places to find all sorts of jewelry. On occasion, you can find some truly special and valuable pieces if you peruse a couple of pawn shops.
If you enjoy jewelry, and you’re looking for especially unique and valuable pieces at pawn shops, you have to know how to spot them.
With that in mind, here are some tips for identifying unique and possibly valuable estate jewelry.
But first, a quick definition of estate jewelry.
What is Estate Jewelry?
Estate jewelry is really any jewelry that is used or previously owned, but primarily older pre-owned pieces. The word “estate” comes into play because someone owned it at some point. Since jewelry is valuable, it was likely part of their estate, thus the name.
What to Look For
As people wear a piece of jewelry through the years, it builds up to wear over time. This is called a patina on estate jewelry.
The patina can be made of skin oils, dirt, and polish. If the metal reacts with the air in some way — such as if it's silver — that adds to the patina.
Contrary to what you might think, patina adds value rather than subtracting from it. It adds character to the piece, but it also proves that the jewelry truly is an older piece.
So if you spot jewelry with a patina at the pawn shop, don’t shy away from the piece. It may be quite old and valuable.
The law requires jewelers to inscribe their marking on their jewelry. That said, plenty of jewelers have been doing this for longer than it was legally mandated.
A jeweler’s mark is a useful tool if you already know a piece is old. If an old piece has a jewelers mark — and it was made before the mark was required — then it’s probably of high quality.
Additionally, the mark can help establish where and when the jewelry was created — another important factor in determining its value.
For Gold: Quality Marks
If the estate jewelry is made of gold, there’s likely a mark indicating its purity.
The marking you’re more familiar with in the US is the two-digit marking followed by a “k”, such as 22k (22 karat gold). The other type of marking is a three-digit number — your jewelry may have this instead if it was made in Europe.
In both labeling systems, higher numbers indicate a higher purity of gold.
With that in mind, these markings can help you identify the value of a gold jewelry piece, especially if the patina makes it hard to tell.
At Cash Express in Philadelphia, we have plenty of beautiful pieces of jewelry for sale. We’re also happy to look at any pieces you have and get you a fair price fast. Come on in today, and bring your jewelry if you’d like to pawn it.
Friday, February 26 2021
Looking for a lump sum of cash fast? Pawn shops are perhaps the best places on earth to do so.
You can bring a wide variety of items into pawn shops and exchange them for cold, hard cash within hours. No need to sell, either — you can get a short-term pawn loan with no credit check or application.
That said, there are a few types of items pawn shops especially love to see — and will offer extra for.
To that end, we’ve put together this list of the best items to pawn in 2021. If you have any of these, you know where to bring them!
Jewelry is always a pawn shop favorite. You can fetch a healthy amount of money pawning most types of jewelry to pawn shops.
Some popular forms of jewelry to pawn include earrings, bracelets, and necklaces. Some pawn shops especially love vintage jewelry, as it has a certain appeal they’re willing to pay more for.
Of course, watches are another long-time favorite of pawn shops. In theory, you can pawn any watch. However, you’ll get the most money for the luxury brands — Rolex, Patek Philippe, Cartier, and so on.
Gold and Silver
It should go without saying that pawn shops are big fans of precious metals — gold and silver in particular.
Whether you’re a bullion investor using gold and silver as a store of wealth, or you’re a collector and trader of beautiful coins, pawn shops are the place to be for fetching a good price.
Plus, the prices of both metals have risen quite a bit over the last year. If you’ve held onto your gold and silver for a long time, pawning them off could net you a nice profit.
Are you a fine art collector? Perhaps you just have some beautiful art in your home, but you need to make way for new pieces? Good art pieces naturally have a lot of value, meaning pawn shops are willing to take a look.
Wine might not be the first thing you think of when it comes to pawning items. However, there are a decent number of pawn shops that are more than willing to get you a good price on your bottle.
Rarer and older wines often drive the highest prices for obvious reasons. If you’ve got a wine cellar with some fine bottles, and you don’t plan on consuming them, see if there’s a pawn shop near you that’ll pay you for them.
Own any items on this list? Need some extra cash? Come down to Cash Express in Philadelphia. We especially love jewelry and precious metals, but we’ll take a look at anything you bring us and offer you a fair deal. Visit us today!
Monday, January 25 2021
Diamonds. They’re beautiful, highly sought-after, and quite expensive. They’re the standard stone for most engagement rings due to their beauty, but they’re used in plenty of other jewelry pieces as well.
Now, you could visit a jewelry store and buy a diamond… but only if you want to pay full price for it.
Instead, you should check out a pawn shop — especially one that loves precious stones and jewelry — when you’re shopping for a diamond.
Why Buy Diamonds at a Pawn Shop?
We get it. Diamonds are expensive no matter where you go, and it’s easy to see why. They’re just beautiful.
However, buying brand-new diamonds or jewelry from a jewelry store is not your only option. If you shop at a pawn shop, you can get diamond jewelry for a whole lot less.
First of all, it’s second-hand jewelry. Despite being second-hand, most jewelry at pawn shops will be in excellent condition.
Plus, you have some wiggle room to negotiate. If you know what you’re doing, you could slash a few bucks off the price you pay.
Are you interested in vintage jewelry? You’ll have a hard time finding it in jewelry stores.
On the other hand, pawn shops often have vintage jewelry due to the second-hand nature of pawn shop inventory. Look around your local pawn shop — you never know what you might find.
Bolster Your Budget
Diamond price still a bit too steep for you? Perhaps you have an item or two at home — maybe some older jewelry — you no longer want.
You could pawn that jewelry at a pawn shop and have a much easier time affording a beautiful new piece of diamond jewelry.
Get an Original Design For Less
Maybe you can’t find the perfect piece at a pawn shop. No worries — you can buy something anyway and bring it to a jeweler to have it melted down and redesigned to your liking.
In fact, some pawn shops have jewelers on hand to help you with this. Bring in your old pieces or buy something from the store, then have the jeweler customize your piece.
As much as we love diamonds and precious metals, the truth of the matter is that mining these beautiful materials can negatively impact the environment. By buying second-hand pieces from a pawn shop, you reduce demand for new stones or precious metals. Thus, you cut your impact on the environment.
If you’re looking for a beautiful diamond or piece of diamond jewelry in Philadelphia, come down to Cash Express Pawn Shop and check out our inventory. In addition to diamonds, we have other kinds of jewelry and precious metals available. Plus, we’re happy to take your jewelry if you’re looking to pawn some for extra cash. Come visit us today!