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Friday, April 17 2020
5 Secrets You Never Knew About Pawn Shops

There’re a lot of falsehoods and misinformation surrounding pawn shops. Many think they’re seedy places full of people looking to rip you off. Others think they only deal in super valuable items like jewelry and gold coins.

In reality, pawn shops are a lot more mundane than portrayed. They’re in the business of getting people small amounts of cash quickly. That’s it.

But if you’ve never been to a pawn shop before, you might be in the dark about how a place like Cash Express works. Read on to clear up the rumors and learn the truth.

1. It’s Nothing Like TV

Your average pawn shop is nothing like Pawn Stars, where exceedingly rare collectibles show up on every episode.

They aren’t like Hardcore Pawn, either, where people are always getting in verbal fights over price.

Instead, most pawn shops have your regular items — antiques, electronics, some precious metals, etc. Pawn shop owners and employees are generally friendly and helpful.

2. Stolen Goods Are Very Rare

A common belief is that pawn shops are a haven for stolen goods — but this is not so. Stolen property makes up less than 1% of items that pass through pawn shops. 

Pawn shops run every item they get through a stolen item database. They also maintain strong working relationships with local law enforcement should stolen goods come to their store.

3. Many Use Pawn Shops as Lending/Income Alternatives

Banks are great lenders — unless your finances are in bad shape. Then, they turn their backs on your.

Pawn shops, on the other hand, provide low-income earners, the unemployed, and those with poor credit a way to borrow and earn money fast. Plus, you only lose the item if you fail to pay the loan back — no credit damage or late fees.

4. You Can Pawn Nearly Anything

Everyone knows you can pawn gold and jewelry, but there are so many more items that pawn shops accept. Other popular categories include electronics, firearms, and musical instruments.

Plus, every pawn shop specialized in a different subset of items. By finding one that deals mainly in the type of item you want to pawn, you can get the most money.

5. Knowing Your Item’s Value is Helpful

Understanding the actual value of your item — not the sentimental value — gives you a starting point for negotiations. Pawn shops won’t give you the full retail price, though, as they need to make a profit. However, you can get the money fast and you’ll still get the item back if you pay the loan.

Now that you know more about how pawn shops work, you might be looking to pawn some of your own stuff for cash. Come down to Cash Express today! Our friendly employees will evaluate your items quickly and get you a fair price within the day.

Posted by: AT 10:54 am   |  Permalink   |  Email

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Cash Express  • Philadelphia Pawn Shop

731 Chestnut St. Philadelphia, PA 19106 -  (215) 922-1560