Cash Express is the number one pawnbroker in Philadelphia, PA, when you’re looking for quick cash. But if you’ve never pawned anything, you may be uncertain as to the process. We’re here to help.

What is A Collateral Loan

As a borrower, you have to provide some type of asset that will act as collateral, securing your loan. There will be a set period within which the collateral loan can be repaid. If you do not pay on time, the collateral becomes the payment for the loan.The possibility of having your item become the property of the lender is one of the reasons we advise thinking carefully about your chosen asset. 

What are Collateral Assets?

.1. Precious metals, gems, coins, jewelry.

This is one of the most common collateral assets. Once you know how much you need to borrow, you can assemble what you need for the loan. When you bring that (those) items to the Cash Express store, we’ll assess it (them) and let you know the loan amount, which is based on a percentage of your item’s value.

2. Real Estate

Private or commercial properties can act as an asset for a collateral loan. In this case, a lender’s representative comes and reviews the property. As with jewelry, your loan amount is based on that valuation. 

3. Stocks & Bonds

Securities are viable assets for a collateral loan. As with other assets, there needs to be a valuation and a quote for the lending amount. Should you default, the lender can sell the stocks and bonds to cover the loss.

4. Collectables & Valuables

There are a lot of miscellaneous things a pawn shop seeks that you can use as collateral. Examples include antiques, vehicles, power tools, musical instruments, electronics, and firearms. You can call ahead (215-922-1560) to make sure your intended pawnshop will consider your item depending on inventory.

5. Vehicles

This includes boats, motorcycles, motorized scooters, and cars. The valuation process is handled like real estate unless the item can come to the store.

What You Can Expect

Now that you know what assets you can potentially use for a loan, it’s nice to know how a collateral loan works face-to-face. The first step is having the lender assess your item. Most lenders use computers to determine prices based on current demands and condition of the item. 

Step two is handling the inevitable paperwork. You will complete a loan application with any documentation requested by the lender. For example, you’ll need to bring proof that you own a car in case the title has to be transferred upon default. There is no credit check involved.

Step three is bargaining. If you go into a pawnshop with a solid understanding of your item’s value, you may have wiggle room on the loan amount. This is also when repayment terms and loan duration are explained.

Then you get your money in whatever way you’ve agreed upon like a fund transfer or cash.

The experienced professionals at Cash Express are happy to help you with your questions. You can use our online contact form, phone (215-922-1560), or email us at info@pawnphiladephia.com to get your loan started.

Everything old is new again. Pawn shops originated in China about 3,000 years ago. And just like modern pawn shops such as Cash Express, independent business people offered short-term loans to commoners. The model created in Buddhist monasteries remains to this day.

The Greeks and Romans had pawnbroking establishments. As the Roman Empire spread, the prevalence of pawnbroking likewise grew. Mind you, only some were welcoming of the idea.

In Medieval Europe, pawnbroking was slowly formalized as an institution. When people wanted quick cash (sound familiar?). Local authorities oversaw the businesses to insure legitimacy. 

Come the time of the Roman Catholic Church, prohibitions on charging interest on loans were in place. The rule put quite a calabash on merchants trying to keep a business going. The Franciscans had some leeway and could offer aid to the poor. 

French Crusaders used the pawning system to broker their holdings to monasteries so they could supply their armies. The Church did not require a financial return. Rather, they garnered crops at an agreed amount in each season. 

The History and Evolution of Pawn Shops: Peasants and Kings Alike

In times of war, Kings would pawn their valuables, usually jewels, to increase the size of their war chests It’s worth noting that jewels remain a high-interest item at Cash Express. Both Edward III (1300s) and King Henry V (late 1300- mid-1400s) took advantage of the system.

The Renaissance was the proverbial golden age for pawn shops. They accepted a wide variety of collateral. In turn, they provided funds to people needing them. This remains true of modern pawn establishments like Cash Express. Diversity was a friend to both buyer and seller. 

Then the tides turned. In early 1600, there was an Act against Brokers in London, which remained firmly in place until the late 1870s. There was a viable reason for the Act. It was intended to deter counterfeit brokers, namely fences. 

Here and Now

Pawnbroking has become a regulated industry. There are laws about how much one can charge for interest, for example. Most areas also have licensing requirements and detailed regulations for pawnbrokers. 

As the internet grew, pawnshops put this technology to good use. They could share their goods with a wider audience and review potential retail sales for items. Additionally, online listings help determine if an item is stolen goods.

Some pawn shops have specialties, others diversify, and others still combine the two ideas. For example, Cash Express has Antiques by Ark as a spinoff focused on older valuable items.

Enjoying the Pawn Experience

Do you have items tucked in the back of a closet or attic that might have value? You can clean out your home and get money for the effort. Remember that items should be in good condition. You might want to call ahead to see if shops in your area are looking for your offerings. You can reach our shop at 215-922-1560. 

When you need quick cash, look at high-end items in your collection. Pawn brokers aren’t like second-hand shops. They can’t accept everything coming through their doors. If you are uncertain and want to provide detailed information, you can email us infor@pawnphiladelphia.com or use our online contact form. We are a trustworthy pawnbroker in Philadelphia, and our staff is happy to answer any questions you have. 

Is it time to clean out your designer handbag collection a bit? You can go to a pawnbroker like Cash Express for a fair return on your investment. 

Before you think about pawning your handbag, it helps to know the parameters with which you’re working.

1. Authenticity. Any paperwork you have about your handbag, like original receipts or tags, adds to the value. Also, see if you have the box or bag. This is called provenance. You are illustrating the bag’s history. If you have accessories, all the better. 

2. Brand: There are some high-end handbags that are classic, and rarely lose their value. The company, like Chanel, has a reputation for quality and desirability.

3. Condition: The better condition your bag, the higher the value. Visible damage impacts the offer you receive considerably.

4. Demand: In one day, out the next. The demand for your handbag at the time of sale affects the value. If a piece has a celebrity endorsement, appears in a high-profile collection, or just appeals to current trends, you are in luck!

5. Equivalent Sales: At Cash Express, we check how much your designer handbag sold recently at auctions, consignment shops, etc. 

6. Model and Style: There are certain releases from brands that have higher resale value than others, such as limited editions or iconic designs. 

7. Rarity: Vintage doesn’t always equate to value. However, age does matter if the style has been discontinued. With age, you want to make every effort to preserve your handbag in good condition.

Desirable Handbags

While there are hundreds of designer handbags you could pawn, these are some of the ones that will fetch a pretty penny.

• Balenciaga Classic City Bag

This city bag has an elegant simplicity. Lambskin exterior with cotton canvas interior, it matches nearly everything. The Balenciaga Classic City Bag appeared in 2001, became a celebrity impulse buy, and holds its place as a classic.

• Chanel Medium Boy Flap Bag

This handbag appeals to individuals who dress formally. It offered seasonal changes, a strong design, leather ribbing, and Chanel’s diamond quilting. This is one of bags most often faked. The experts at Cash Express, especially those at Antiques by Ark can quickly determine if it’s authentic.

• Chanel Medim Classic Flap

Coco Chanel created this bag in 1955 when it was known as 2.55. All flap bags in this line follow the same construction. Two words sum up the Classic Flap: timeless luxury. These bags typically increase in value because of their sophisticated details. 

• Givenchy Small Antigona Bag

A small, stylish leather bag honors the Goddess Antigone whose name means “unbending.” The Antigona is strong and durable thanks to both quality materials and masterful craftsmanship.

• Gucci Dionysus

A staple among designer handbags, the Gucci has timeless appeal. Features a double-tiger head closure and chic appeal. Endorsements flooded in from celebrities for this style.

• Hermes Birkin

Enthusiasts love this bag. It’s elegant, classic, sophisticated, and made by skilled craftsmen. The limited availability of Hermes Birkin means it retains (or increases) its value.

Two other names suitable to this list include Louis Vuitton (Neverfull MM and Speedy 30) and the Prada Saffiano Tote.  

It’s Time to Shop or Sell!

Now comes the fun part. Shopping for a new bag or selling one to which you’re not particularly attached. Or maybe work out a swap. 

You can count on Cash Express in Philadelphia Pa for fair pricing, well-trained staff, and an overall pleasant experience.

There are three ways to contact us besides coming to our storefront:

Our online contact form t

Email: info@pawnphiladephia.com, or 

Call our office at 215-922-1560

A respectable and trustworthy pawn shop like Cash Express has laws by which they must abide, including keeping a record of personal information. That requirement makes perfect sense when you think about the services pawn shops provide.

• Collateral Loans: A person receives a loan based on the value of the item they bring in. There is a certain time within which the individual can pay the loan back, otherwise the shop can resell the item. The need for a paper trail here is pretty clear especially for people who cannot get a loan by other means. Collateral loans are often used for fast cash in emergency situations.

Tip: 

Avoid pawning anything things that have emotional sentiment. Should something happen and you cannot repay the loan, you will feel terrible about the choice.

• Buying and Selling: Having documentation (typically computerized) helps the owner keep track of their inventory and profits. The customer selling wants to know their item receives the best possible valuation. Likewise, a person buying wants to trust in the presented quality.

Types of Records Retained by Pawn Shop

1. ID: The clints must present valid identification like a driver’s licence.

2. Transactions: The pawn shop keeps records of items received and sold, the amount, date, and the client’s ID. All new items go into a national database monitored by police watching for specific descriptions of stolen goods. If there is a suspicion of criminal activity (like selling stolen goods), authorities may request transaction records for review directly from the shop. This allows them to identify the person who pawned the item, too.

Privacy

You will be happy to know that pawn shops like Cash Express in Philadelphia, PA, must comply with privacy regulations. Your personal information only comes into play when lawful or legitimate business purposes are involved.

Duration and Disposal

The length of time a shop keeps records depends on local and state regulations. 3-5 years is not unusual. When it comes time for disposal, the store must dispose of the materials in a confidential manner by deleting electronic archives and shredding any paper ledgers. This protects your personal information from being compromised or stolen. 

Reputation Matters

For a pawn shop to retain its reputation for superior service, people need to feel comfortable that their personal information is safe and storage is suitable for any associated laws. Additionally, there should be procedures in place for verifying value. Some storefronts offer on-site appraisal. Otherwise, computer data becomes the source for obtaining average worths. 

Cash Express is the premiere pawn broker in Philadelphia, PA, when you’re looking for quick cash, no credit check involved. We are always on the lookout for jewelry, watches, precious metals, and gemstones. Additionally, we have a storefront dedicated to antiques, Antiques by Ark.

Stop by for some proverbial window shopping so you can see our variety for yourself. You can  fill out our online contact form to find out if your property is something we’re looking for You can also email us at info@pawnphiladephia.com, or call our office at 215-922-1560

Different pawn shops may sell various items, but you will be hard-pressed to find any that don’t work with gold and diamonds. Their dealings with precious gems and metals have made them valuable to the fine jewelry industry. Read on to learn about their role in helping people connect with the luxury items they desire.

A Pawn Shop’s Role in the Gold and Diamond Industry

Connecting Buyers with Fine Jewelry

Diamonds and gold are expensive. These fine jewelry items may be out of reach for many people. A pawn shop makes them more accessible.

Pawn shops sell fine jewelry at a fraction of the cost of new items. They are discounted because they have been worn and may not come in their original boxes, but often, they are just as lovely as they were when they were new. Some jewelry may have minor signs of damage, but they can be melted down or recut for their beauty and value.

Lowers Environmental Impact

Gold and diamonds are lovely, but their manufacturing methods are bad for the environment. Both products are mined. Mining can contaminate water and land and pose a danger to workers.

Pawn shops encourage the reuse of gold and diamonds. They can be recut, repolished, and set into new jewelry items. Diamonds can also be used in industrial applications. Their reuse lowers environmental impact.

Stimulates the Economy

Pawn shops give people an opportunity to make money off their fine jewelry. People can bring in their items to sell or loan. Doing so helps them get out of a financial rut.

Selling jewelry is a straightforward process. Loans are a bit more complicated, but they allow you to get money for your fine jewelry without saying goodbye to it forever.

With a loan, you bring your jewelry to the pawn shop. The salesperson will appraise it and offer you a loan. If you accept the loan, you can leave with cash in hand.

You must repay the loan. Once you do, your jewelry will be returned to you. The pawn shop will keep your jewelry if you cannot pay the loan. But the unpaid amount will never go into collections or damage your credit.

An Authentic Buying Opportunity

Some people are wary of buying diamonds and gold at a pawn shop because they feel it may be stolen or inauthentic. Pawn shops are often targeted as places where thieves and con men sell stolen or subpar goods.

However, this is exactly why pawn shops have redoubled their efforts. They know what to look for when buying goods. The shops go out of their way to ensure their stock is real and aboveboard.

Cash Express is Your Destination for Affordable Diamond and Gold Jewelry

Cash Express is a pawn shop you can trust. We sell high-end gold jewelry at a fraction of the cost. We offer reasonable evaluations and fair loan terms. We do our part to lower environmental impact and stimulate the economy.

Contact us for all your fine jewelry needs.

Security and safety are crucial in a pawn shop environment. These shops carry valuable goods, so they are popular targets for thieves. Additionally, many people try to sell stolen or knockoff items. The staff must be extremely vigilant.

Cash Express understands the importance of security and safety. We ensure our customers and staff are safe. Read on to learn why you should always shop at pawn shops that prioritize safety.

Keeping Our Customers Safe

Most break-ins occur when shops are closed, but you never know when someone will try to pull off a robbery during the day. In these situations, we know how important it is to keep our customers and staff safe. Our in-shop security and emergency systems are here to discourage any unlawful activity.

Keeping Our Items Safe

Our shop is filled with valuable items, many of which are on loan from customers. Although we are insured, we never want customers to go through the hassle and heartbreak of losing a valuable item. Our security measures ensure your goods will be protected.

What We Do to Keep Our Shop Safe

·  Train Our Staff: Our staff is trained to detect suspicious behavior and alert authorities when something goes wrong. We foster a culture of awareness in our shop.

·  On-Site Security: We employ trained security guards who know how to handle emergencies. They are equipped with the tools to deal with criminals. They also prevent crimes from occurring.

·  Surveillance Systems: Our surveillance systems monitor our shop for suspicious behavior. They discourage criminals and alert management so they can stop thieves in their tracks. If a crime occurs, they capture footage increasing the chances that the thieves will be apprehended, and the goods will be returned.

·  Alarms and Panic Alarms: Alarms are a useful pawn shop security feature. They alert management and security when suspicious behavior is detected. When thieves hear alarms go off, they often flee from the scene.

·  Inventory Management: Inventory management does more than help us keep track of inventory. It makes us aware of theft incidents. We can use the information to detect theft and minimize shoplifting.

·  Customer Safety Measures: Customers can feel safe when shopping in our store thanks to our well-lit external areas, in-shop security, and security system signage.

·  Collaborating with Law Enforcement: We have strong ties with local law enforcement. We communicate with officials about threats and criminal activities to maintain a safe environment in our neighborhood.

·  Engaging with the Community: We engage with the community by helping with various events and causes. We look out for them, and they look out for us.

·  Updates and Audits: We constantly update and audit our security system to see how we can make it better. Our cutting-edge solutions keep customers safe.

Cash Express Keeps Makes Safety and Security and Priority

Cash Express wants our customers to feel good about shopping in our store. We offer great deals, fair loans, and an extensive selection of quality goods. Our friendly staff goes out of its way to keep our customers safe.

Contact us for the best prices and rates on high-end goods and a safe shopping experience.

If you have a valuable item in your home and need cash, you may turn to a pawn shop to relieve your financial difficulties. Pawn shops offer two options to help you get out of a cash crunch- selling and pawning. Read on to learn what’s involved in each process.

Selling Your Item to a Pawn Shop

Selling is a straightforward process. Simply bring your item into the pawn shop. The salesperson will assess it and make you an offer. If you are happy with the offer, you can leave with cash in hand. The shop will keep the item and sell it to an interested party.

Pawning Your Item

Pawning is a loan process that allows you to get cash for your item without saying goodbye to it forever. Here’s how it works.

1.    Bring in your item. The salesperson will assess it and offer a loan equal to a percentage of the item’s value.

2.    If you are happy with the offer, you may accept the loan. You will then begin making monthly payments to pay off the loan plus interest.

3.    Once the loan is paid off, you will get your item back. If you cannot repay your loan, the pawn shop will keep your item, but the unpaid amount will not go into collections or damage your credit.

Getting Prepared for the Selling or Pawning Process

·  Research Your Item’s Value: Search relevant resources and seller sites to determine what your item is worth. Doing so will let you know if you are getting a fair offer on your item.

·  Clean Your Item: Your item’s condition will factor into the offer you receive. If your item is in good condition, you will get a better offer. Clean your item and make small repairs to ensure the highest possible valuation.

·  Research Local Pawn Shops: Research pawn shops in your area to determine which ones offer fair pricing and have a reputation for serving their communities. If you plan to pawn your item, find out about their loan terms.

·  Prove Your Item’s Authenticity, If Possible: If you are bringing in a designer item, bring certificates and other documents that prove its authenticity. Original receipts can also be helpful.

Should I Pawn or Sell My Item?

There are various factors to consider when deciding to pawn or sell your item. For example, if you don’t want to part with your item because it has sentimental value, pawning may be your best option. However, pawning also means you will have to pay off your loan with interest to get your item back.

Cash Express is Your Philadelphia Destination for Pawning or Selling

Cash Express can help you pawn or sell your item. We offer fair pricing, reasonable loan terms, and friendly service. We buy and sell various items to provide a wide selection for the community.

Contact us to learn more about our pawning and selling process. We will help you get through your financial rut.

Pawn shops are known for selling various valuable items for a fraction of the cost. They also purchase and offer loans for items so you can get out of a cash crunch. But do they buy and sell comic books?

The answer is yes, some pawn shops will buy and sell comic books. However, it’s important to research to get the best experience possible. Read on to learn more about the process.

Comic Book Pricing

Do some research to determine how much you can expect to make from your comic book sale or loan, or how much you should be paying for a comic book.  Comics Price Guide will give you some indication of what your comic book is worth. You can also look at seller sites like eBay to see what comic books are going for.

Several factors determine a comic book’s price as follows:

·  Rarity and Demand: A comic book with a low print run is rarer and will typically sell for more.

·  Age: Older comic books are usually more expensive. The most collectible editions came out between 1938 and 1979.

·  Type: Superhero comics are usually the most valuable. First origin and first appearance issues are especially sought after.

·  Art: Original comic book art will make the item more valuable.

Consider the Condition

The condition will also factor into the price you buy or sell your comic book for. Comics that are in mint condition will sell at a higher price point. If your comic book is ripped or torn, the pawn shop may not buy it.

Shop Around

Some pawn shops offer better pricing than others. Shop around to determine who will buy your comic book for the most money, and who will sell it at the most affordable prices.

Pawn shops are typically prepared to haggle with customers, so use your negotiating skills to get the best prices. Tell them you are shopping around for the best rates so they will be more likely to make a deal.

Pounding the pavement to find the best pawn shop can be difficult. You can also check online reviews to find out about pricing. The reviews will also give you an idea of the level of service you can expect from the shop.

Make Sure the Pawn Shop Accepts Comics

Some pawn shops accept comics, but not all of them do. Call in advance to ensure the shop you are going to buys or sells comics, so you don’t waste your time.

Sell Your Comic Book at Cash Express Pawn

Cash Express Pawn is the best place to sell your comic book in Philadelphia, PA. We offer great prices and friendly service. We also have great deals on sales and loans.

Our friendly and knowledgeable salespeople are ready to assist you. We will help you find affordable items you always dreamed of owning. We also specialize in jewelry, watches, and other high-end pieces.

Contact us to get a great deal on comic books and more. 

Many of us dream of owning high-end fashion accessories. Luxury watches, precious rings, gleaming necklaces, and other jewelry items are some of the fashionable pieces we dream of owning but may be unable to afford. Pawn shops offer gently used goods that bring these items within reach.

There are a few strategies to use when shopping that ensure you find the best deals on luxury items. Here are a few to be aware of.

Do Your Research

Research in advance to learn what items are worth. Get prepared so you know what constitutes fair pricing.

Shop Around

Some pawn shops may offer better prices than others. Shop around to find a pawn shop that provides fair pricing on the goods you have your eye on.

Ensure Your Item is Authentic

Licensed pawn shops understand the importance of buying and selling authentic items. However, there is always a chance that an item got under the radar.

When researching an item, find out the best way to determine its authenticity. For example, authentic items may have specific engravings and other characteristics.

Receipts and certificates of authenticity will also tell you if an item is real.

Consider the Condition of the Item

A pawn shop should never charge full retail value for a used item. The reduction from the full price will depend on the item’s condition. An item with signs of damage should be greatly reduced from its retail price.

The shop should fairly mark down the price considering the extent of damage. Ensure the item you’re buying is worth it. Don’t pay good money for something that doesn’t function properly or look its best.

Be Prepared to Negotiate

Most pawn shops are prepared for shoppers to negotiate. They may even mark up an item a bit to account for negotiations.

Here are some tips to keep in mind when negotiating:

·  Use Your Knowledge: Your research will help determine an item’s value, so you have a fair price in mind.

·  Be Respectful: Be respectful throughout the negotiation process to ensure you get a better deal. If you get upset or argumentative, the representative may be less likely to work with you.

·  Make a Fair Offer: You may pay more than your original offer, but your starting point should be fair and realistic. It will show the dealer that you know what you are doing and prevent them from getting upset if they feel you are trying to rip them off.

Shop at Locations You Trust

Reputable locations tend to offer fair prices and quality goods. Check out shops in your area to find ones with good reviews and a history of trusted service in your community. Consider their selection and the condition of the items they sell.

Cash Express is a pawn shop you can trust. We strive to provide luxury pieces at fair price points. We offer friendly, knowledgeable service.

Contact us for great deals on the items you dreamed of owning.

People have varying opinions of pawn shops, but most are aboveboard businesses that support their local economies and communities. They provide jobs, allow people to purchase items at a discount, and even offer loans. Read on to learn how they can be an asset to your neighborhood.

How Pawn Shops Support Local Communities

Pawn Shops Sell Discount Items

A pawn shop buys used items from sellers and sells them at discount prices. They allow people to profit from their items and purchase goods for less. Individuals with budgetary limitations can attain the items they need at a fraction of the cost.

Pawn Shops Offer Loans

Pawn shops also offer collateral loans. People bring in items in return for a cash loan. They repay the loan over time with interest. If they cannot repay the loan, the store keeps the item, but the unpaid amount will never reflect poorly on the individual’s credit report.

The system allows people with poor credit to secure loans without facing steep default penalties.

Creates Jobs

Like any business, pawn shops create jobs. They hire people to help in the shop. They also support other businesses so their employees can thrive.

Supports Other Businesses

Pawn shops can support other businesses in the area. They can help create a thriving shopping hub that becomes a neighborhood and tourist attraction. They may also rely on nearby businesses for deliveries, supplies, and food.

Pays Taxes

Pawn shops pay taxes that support the local community. They help fund police and fire services, education and health services, libraries, road maintenance, and other projects and programs.

Work With a Trusted Pawn Shop

Not all pawn shops are created equal. Ensure you are working with a pawn shop that supports your community by looking for the following characteristics.

·  Fair Loans: A trusted pawn shop will offer fair loans with reasonable interest rates and minimal fees.

·  Competitive Prices: Pawn shops should pay sellers fair prices for their items and sell them at competitive prices considering their retail value and condition.

·  Reviews and Recommendation: Check out a pawn shop’s online reviews to ensure they are reputable. Ask friends and relatives for pawn shop recommendations to find a business you are satisfied with.

·  Consider Reputation: Pawn shops that have been in business for a while will have developed a reputation for serving their community. The business should also have low staff turnover and management.

·  Licensing: A licensed pawn shop will abide by local laws and regulations. Customers will be protected from unfair business practices.

·  Insured: An insured pawn shop will reimburse you for items in their possession. It protects items that may become stolen or damaged.

Choose Cash Express

Cash Express is a trusted Philadelphia, PA pawn shop. Our expertise in antiques, diamonds, and precious metals ensures we offer and charge fair prices. We also provide cash loans for valuable items.

We are known for our friendly service. We help the community by offering low-cost upscale goods at affordable prices. We keep the economy moving.

Contact us to learn more about our terrific selection.