Earlier in 2020, companies small and large suffered when lockdowns and social distancing measures were put in place.

Doors are now slowly opening, but many businesses are still struggling to get by — especially smaller businesses that don’t have tons of cash to sit on.

Yet despite the hard economic times we’re all in, business has been booming for pawn shops. Many may wonder how such a specific industry can do so well right now when other businesses are not.

Why Are Pawn Shops Doing So Well During These Tumultuous Times?

In many states, pawn shops have been granted the “essential business” title, joining the ranks of other critical enterprises such as grocery stores and banks. Consequently, they’ve been allowed to continue their operations, as long as they follow and enforce social distance and mask protocols.

But why are they so essential? It’s a valid question. Pawn shops seem like the last type of business to be considered necessary for survival, but they’re more important than you think.

Customers Are Leveraging Their Items For Financial Assistance

Pawn shops are essential because of their ability to make loans.

Not just any loans, though. Pawn loans.

These are short-term loans that require no credit check. You borrow against an item of value to get them, and you can have the money in as little as a couple of hours. All you have to do is pay back the loan plus interest and fees within 30 days to get your item back.

If you can’t pay it back, the worst that happens is you lose your item. No credit score damage and no debt collectors here.

People can also sell their items outright if they don’t need it. Pawn shops are one of the easiest places to get rid of any miscellaneous items of value you have.

But that doesn’t explain why they’re doing so well. More on that next.

Many Pawn Shop Items Are in High Demand

In times like these, specific items become sought after — especially when everyone is locked inside.

Pawn shops happen to carry many of these items.

For example, video games and video game consoles are flying off the shelves. When you’re stuck in your house all day, you have much more time to fire up a console and play.

Lockdowns also led to a great increase in remote work, too. As a result, desktops and laptops are also selling well at pawn shops.

Then, of course, people are buying up firearms and ammunition. It’s grim to think about, but owning a firearm can make you feel more secure in uncertain times. And since firearms are expensive items, a pawn shop is where most people turn to when money isn’t as stable.

Stimulus Checks

Most Americans received several hundred to a few thousand dollars in stimulus money. Much of the money is bound to be spent on good deals at pawn shops.

Pawn Shops Are Strict About Social Distancing

Since pawn shops are essential, the government’s eye is on them. They are extra careful about social distancing, ensuring everyone wears a mask and remains properly distanced. Items and surfaces are sanitized frequently.

Want some extra cash to pad your savings? Need a laptop to work from home? Don’t worry — at Cash Express, we have plenty of items available. We love jewelry and precious metals, so if you have any, bring them in today!

The economy is recovering, but things are still a little shaky out there. Many people are looking for ways to leverage what they have to get some extra money.

One common action people take is to use valuable items — such as artwork — to get some extra cash temporarily. Many times, this happens at pawn shops.

But is pawning your art a legit way to get money from your artwork? Or should you go the traditional route, such as using an auction house or selling to someone privately? Read on to see why a pawn shop is a viable option.

Get Cash Fast... Without Losing Your Artwork

Pawn shops offer you the unique opportunity to leverage your art for cash today — yet you don’t have to let go of your art. This is possible through pawn loans.

Pawn loans require no credit checks, and you can get them in as little as a day. You secure the loan with your artwork. As long as you pay back the loan balance plus fees and interest in 30 days, you get your art back.

In many cases, borrowers aren’t getting a pawn loan out of necessity or desperation. Perhaps a unique investment opportunity presents itself to you, but you don’t get paid until next week. Pawning your art provides you that capital to buy into said investment opportunity. Then, you can pay back the loan when you receive your paycheck.

What If You Sell Your Art?

Perhaps you aren’t as attached to your art, and you’d rather earn money that you don’t have to pay back. That’s understandable.

Pawn shops make it easy to sell your art, too.

See, the traditional routes take time. If you sell to someone else, you might have to go through a broker. You’ll endure a lengthy appraisal process and owe commissions to your broker (and perhaps other parties involved in the process).

What if you use an auction house?

In this case, you won’t have the final say on your artwork’s price. Whoever has the best bid, wins. Sure, there’s a chance you might wind up with more than you hoped for, but it’s more likely you’ll get less.

At a pawn shop, you have more choice. One pawn shop low-balled you? Leave them behind and visit a different pawn shop. As long as you demand a reasonable amount for your artwork, you’re more likely to get the price you want through pawn shops.

Bring Your Artwork to Cash Express in Philadelphia

Need some extra cash for the short-term? If you have some artwork, Cash Express would be happy to lend you money against it. Just bring your art into our Philadelphia pawn shop so we can take a look at it. We’ll get money into your hands within a few hours!

Decluttering your house? Your first thought may be to have a garage sale. You know, clean out your home and make a few bucks.

But yard sales aren’t your only option — and they may not be the best, either.

Pawn shops could actually be the better choice. Here are some reasons to consider a pawn shop in Philadelphia like Cash Express.

You Can Keep Your Items in Some Cases

Selling isn’t your only option at pawn shops. If you need some quick cash but want to keep your item, you can pawn it for a loan.

The pawnbroker holds onto the item for 30 days. As long as you pay back the loan plus interest and fees, you get your item back. No credit checks required. Plus, if you can’t pay back the loan, you only lose the item — not your credit score.

A Better Price

You may not know the true value of most items you’re selling at a garage sale. You could be leaving money at the table by selling these items at a massive discount.

Most pawn brokers bring in an industry expert to appraise your item. Who knows: you may end up earning $100 on an item you would’ve sold for $10 at a yard sale.

No Setup Required

Yard sales require a lot of tedious setup. First of all, you have to arrange all your items in an organized, intuitive manner. You’ll need some tables to place items on.

Then, there’s the marketing. You’ll have to create (or buy) signs and place them strategically around your area so that traffic can see them.

And when your customers get there, you have to make sure no one walks off with your items without paying.

No such setup is required at a pawn shop. No need to wake up at the crack of dawn and worry if you’ll get any customer

Looking to sell some stuff at a garage sale or a pawn shop? Cash Express is your one-stop Philadelphia pawn shop for all your quick money needs. 

Come talk to our friendly staff today if you have any questions!

Pawn shops are known for having lots of jewelry, precious metals, and similar valuables in their inventories. In fact, those are our favorite types of items at Cash Express in Philadelphia.

But many pawn shops (including us) are also fans of musical instruments. Many people sell their instruments to pawn shops because they can get a great price fast — and pawn shops take them because they know other people will want to buy them.

If you’re among these musicians that’s looking to grab their first (or next) instruments from a pawnbroker, read on.

Why Buy an Instrument From a Pawn Shop?

In general, pawn shop instruments are in excellent condition. But since they’re gently used, and since you can negotiate with pawn brokers, you can find a fantastic instrument at a low price.

Because of this, pawn shop instruments are perfect for beginners. You’ll have more money leftover to invest in music lessons with a good teacher, as well as other accessories.

What Instruments Can You Find at Pawn Shops?

Not all instruments will be easy to find. Pawn shops only buy what people bring in, after all. If an instrument isn’t popular, you might be able to find it at a pawn shop — but it’ll be a challenge.

With that said, there are plenty of instruments commonplace in pawnbroker inventories, such as:

• Amplifiers

• Bass guitars

• Clarinets

• Flutes

• Guitars (acoustic and electric)

• Harmonicas

• Keyboards

• Synthesizers

• Trombones

• Trumpets

• Violins

Out of these instruments, guitars and violins are the most popular. You’ll find them quite easily, but you’ll want to act fast — a guitar you’re keeping your eye on could sell fairly quickly.

Buying Your Instruments

When buying your instrument, consider the whole cost when weighing the purchase against your budget. Not just the purchase price, but any necessary repairs and mandatory (or near-mandatory) accessories (such as a capo for a guitar).

Inspect your choice of instrument carefully, looking for signs of damage. Make sure the instrument isn’t refinished. Check each component of the instrument (such as strings and pegs for a violin) carefully to get a feel for the instrument’s condition.

Some repairs will be cheaper than others. You may pay more for a great-condition violin in need of restringing, but new strings aren’t costly. On the other hand, violin body damage can be expensive.

Also, play an instrument a few times at the pawn shop. Listen carefully, as the tone it produces can help you determine the condition of the instrument. For example, violins should have deep, rich tones. A high-pitched, treble-y violin may not be in as good a condition as you think.

Keep these things in mind and you’ll be well on your way to bringing home a great instrument at a fair price.

Looking to pick up a new musical instrument? Cash Express is your one-stop Philadelphia pawn shop for your instrument needs. We have plenty of excellent instruments to look at.
If you’re looking to sell or pawn your instrument, we’d be happy to help as well. Come talk to our friendly staff today!

Whether you built exciting new projects or made repairs to your home, your power tools have served you well over the time you’ve had them. At some point, however, you may want to upgrade to a new set.

But ditching your old set of tools isn’t a good idea. Instead, you’d be wise to gather them up and bring them to a pawn shop.

Power tools are popular pawn shop items because they’re expensive when bought brand new. Working men and handymen both head to pawn brokers to grab used power tools, saving themselves money. As a result, there’s money to be made by selling yours to your local pawn shop. Your proceeds can be used to save cash on a brand new set!

Wouldn’t it be nice to know exactly how much you’ll get for selling your power tools, though? Your price depends on many factors, but we can help you get an idea of what you’d earn by selling your tools to a pawn shop in Philadelphia like Cash Express. Read on to learn more.

Best Brands of Power Tools to Sell at a Pawn Shop

The best brands of power tools that pawn shops love to buy include the following.

• Bosch

• DeWalt

• Makita

• Milwaukee

• Snap-On

• Stihl

Power Tool Brands That Aren’t So Popular

All power tools will make you something at a pawn shop, but some brands won’t make you anywhere near as much as the previously mentioned brands. These less lucrative brands include:

• Craftsman

• Dremel

• Festool

• Rigid

• Ryobi

• Stanley

Other Factors

Here are some other factors to consider when selling your power tools to a pawn shop.

Condition

As with any item: the better the condition, the higher the price. Scratches and scuffs will bring the price of your tools down, but you can minimize that by giving your tools a thorough cleaning. Wash off any rust or gunk to make them look as new as possible.

Model and Year

Newer tools and better models will fetch a higher price for obvious reasons. That said, an older model that is in excellent condition will still get you a good payout.

Accessories

To up your power tool profits, bring in any extra blades or other components you may have. Check around your garage for those extra components!

Battery

Make sure your tools are fully charged before bringing them in to a pawn shop. It may seem trivial, but having your power tools in as good of working order as possible before you arrive at the pawn broker will get you the best price.

Cash Express pawn shop in Philadelphia is happy to take a look at your old power tools and give you a fair price. We also have power tools available if you want to buy more. Come in today — we’ll make sure you walk out with money in hand as soon as possible!

When the lockdown orders first came around, the government mandated that everything but essential businesses close. Only places such as grocery stores, healthcare facilities, and banks could remain open. These types of businesses were deemed necessary to sustain life.

However, pawn shops like Cash Express haven’t been forced to close. They’ve been designated as essential businesses in Philadelphia.

We understand why many would be curious as to why pawn shops remain open. People don’t “need” most of the items that pawn shops offer in an emergency, do they?

Well, there’s one thing that they do provide that makes them essential.

The Answer: Why is Cash Express Pawn Shop an Essential Business?

Pawn shops are considered essential because, like banks, pawn shops provide financing. In Pennsylvania, they are licensed and regulated by the Department of Banking and Securities. Because of this licensing, Cash Express and other pawn shops are considered essential.

Thanks to pawn loans, people can leverage their possessions to obtain the cash they need fast. This is especially true for the financially vulnerable — those with few assets, little cash, and bad credit will have a tough time getting loans from banks and other lenders.

Even if they get approved for a loan, the entire process can take days. Many can’t afford to wait days.

Plus, if they fail to pay back the loan on time, they’ll owe fees and interest. This can damage their credit further and put them in a deeper financial hole.

With a pawn loan, the worst that can happen is they lose their item. Pawn loans don’t require credit checks or cause damage if the loan isn’t paid back.

Many needed their pawn loans temporarily while they waited for their stimulus check. They were able to pay back their loan a week or two later after their stimulus money arrived and retrieve the pawned item.

As for safety, many pawn brokers instituted measures to keep people at a safe distance, such as drive-up windows.

Nonessential Ways Pawn Shops Benefit Customers

Pawn shops help in nonessential ways, too.

People who have been putting off decluttering for a while suddenly have time on their hands. They can come in and sell off their old stuff and pad their bank account in these uncertain times — all while cleaning their house.

People are buying things from pawn shops to cope with boredom and isolation, too. Many have bought computers and video games/consoles to fill the time and keep in touch with friends/family. Others are picking up at-home hobbies, such as guitar. Guitars are a popular pawn shop item, so when guitar stores are closed, aspiring musicians go to pawn shops.

We understand that times are tough. Cash Express Pawn Shop in Philadelphia can get you the money you need in as little as a day. Your pawn loan won’t hurt your credit. If you need cash, bring your item in today.

Rolex, Cartier, Patek Phillippe… those are just a few of the most highly-sought after brands of watches. Having one on your wrist commands attention. Not only do they look good, but they convey status, luxury, and a sense of taste.

They’re also incredibly valuable, of course.

Whether you’re in the market for a luxury timepiece or you’re looking to sell your current one, you want to get the most for your money.

Many buy and sell watches from authorized watch dealers, but pawn shops are another option. Let’s explore the benefits and drawbacks of buying and selling watches at each type of store.

Authorized Dealers

Selling

The main advantage of selling your watch at an authorized dealer is you’ll likely get a higher price. Authorized watch dealers operate exclusively in the timepiece business, so they’ll be much more interested in getting you the right price when you’re buying.

Buying

However, authorized dealers will charge a lot more for a luxury watch than a pawn shop would. Plus, you won’t be able to negotiate much with them. Maybe you can score a small discount, but you’ll still be paying close to full price.

Pawn Shops

Selling

There’s little chance you’ll get your watches full market value at a pawn shop — pawn shops have to make money, after all. Additionally, pawn brokers can’t be experts at everything. They may not be able to determine the value of your watch with 100% accuracy.

However, the selling process is a lot faster. You can walk in with your watch and walk out within the same day.

With that in mind, you’ll get a more fair offer on watches a bit below the high-end, as those have a large market. A pawn shop can more easily profit on something more “affordable” like a Fossil watch. More people can afford that watch, meaning the market is larger.

Pawn shops also let you use your watch to take out a loan if you don’t want to sell but need cash. As long as you pay back the loan plus interest in 30 days, you get your watch back.

And if you don’t, no applications or credit score dings — the pawn shop just takes possession of the watch if you don’t pay back the loan.

Buying

You can likely snag a good deal on a luxury watch from a pawn shop. Now, don’t expect to get a Rolex for a few hundred — everyone knows how much those are worth.

Lesser-known brands, however, can be had for a steal if you spend some time browsing pawn shops in your area.

Whether you’re looking for a Philadelphia pawn shop to sell your watch or buy a new one (or both), Cash Express Pawn Shop would be happy to help. Bring your watch in today, and browse our current selection.

Diamonds are beautiful and valuable — making them the perfect target for people who want to make fakes for profit.

Fortunately, there are some tests you can run to see if a diamond is real or fake. They can be done at home and cost you a few bucks at most.

None of these tests are conclusive, but failing several of these tests is a strong indicator that you should get a diamond test kit or bring the piece to a gemologist to learn the truth.

The Loupe Test

A loupe is a magnifying glass used by jewelers to see the fine details of jewelry. Since diamonds form in nature, there are bound to be imperfections. A perfect diamond is likely fake.

This isn’t always the case, though — you may stumble across a real, perfect diamond. Lab-created diamonds are also generally flawless, yet they’re real.

However, the loupe test can still indicate that further inspection is required.

The Black Light Test

Another initial screening test you can run is the black light test. Turn off all the lights and shine a black light on your diamond. You should see a bluish fluorescence. Green, yellow, and other colors could indicate a fake.

The Heat Test

Diamonds are incredibly strong. High heat will not damage them.

To perform the heat test, fill a glass with cold water. Using plyers or fireproof gloves, heat your diamond with a lighter for about a minute, then promptly drop your stone into cold water. A fake diamond will shatter, as its components will not be able to stand the rapid expansion and contraction of heat.

The Water Test

If the heating element of the heat test makes you uncomfortable, you can still use the other half of the test to determine if your diamond is real. When dropped in water, a diamond’s high density will cause it to sink to the bottom.

If your diamond floats, however, then it isn’t a diamond at all.

The Fog Test

The fog test uses condensation to determine diamond authenticity. Condensation doesn’t stick to the surface of a real diamond.

All you have to do is hold the diamond in front of your mouth and breathe on it as if you were trying to fog up a mirror. If the condensation immediately disperses, the diamond is real. If not, it’s fake.

The Sandpaper Test

Again, diamonds are made of tough material. It’s quite hard to scratch them.

Scratch the stone in question with sandpaper. Scratches indicate your diamond is actually something else, whereas no damage indicates authenticity.

Did your diamond pass this battery of tests? You can fetch a pretty penny by pawning it. If you’re looking for a pawn shop in Philadelphia, stop by Cash Express. We love diamonds and jewelry here — we’ll get you a fair price for your piece and have the money in your hands the same day.

The weather’s warming up, which means it’s about time to knock out some spring cleaning. Many clean out their houses either by throwing things away (and losing out on a ton of cash) or having a yard sale (better, but takes a lot of time and resources).

Instead of going one of those two routes, a pawn shop would be your best option. Down below, we’ve made a list of why you should pawn or sell your items this spring. Read on to learn the benefits.

1. Great Deals on Tools for Spring Cleaning

Pawnshops carry many of the tools you need for spring cleaning. These tools can be had for a lot less than the full retail price at pawn shops than at retail stores.

Knock out two birds with one stone. Declutter your house by pawning or selling stuff you don’t need, then use your money to buy discounted supplies like vacuums and brooms from the same pawn shop.

Even if your local pawn shop doesn’t have the stuff you need, you now have money to spend on cleaning supplies at another store.

2. High Demand for Certain Items

As the weather gets warmer, more people will be ready to do yard work and outdoor home improvement projects. If you have any power tools you don’t need, that could mean big money for you.

Depending on the brand name and condition of your tools as well as your location, you could earn a couple of hundred dollars for a single tool.

3. Stock Your Summer Vacation Fund

Looking to fund a summer getaway? No better time to do it than this spring — and no better way to do it than by pawning or selling your items. 

Items like jewelry and precious metals will get the best prices at many locations, but pawn shops also take electronics, musical instruments, antiques, video games, and more.

4. It’s Easier Than a Yard Sale

Let’s face it: yard sales can be a hassle. There’s a lot of work involved, and local laws may prevent you from holding one at all.

It’s much easier to turn your old stuff into cash by bringing it into a pawn shop. All you have to do is research the value of your items beforehand — no setting up tables of your items, no setting up signs, no hoping that it doesn’t rain when you’re holding the sale.

Looking for a pawn shop in Philadelphia where you can ditch your items for cash this spring? Come to Cash Express. We love jewelry, antiques, and high-end watches, but if your item isn’t one of those, don’t hesitate to bring it in anyways! We’ll see about getting you a fair price for your stuff — you’ll have your money in your hands the very same day.

Visit our store today!

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.