If you are thinking about pawning your jewelry, there are a few things you should know. The easiest option is to simply contact USA Pawn at 601-501-7296 or stop by our pawnshop to get the facts you need. You can also keep reading to learn about the pawning process.
Start by deciding how much money you need
Determine the amount you must borrow. Pawn shops only offer you roughly 60% to 70% of the actual worth of your jewelry because they are in business to earn money. Therefore, you should only pawn what is necessary, especially if you won’t be able to pay back the loan.
The minimum amount of jewelry you must select from your collection for pawning will depend on how much money you need to borrow.
Be sure you’re pawning the right pieces
Try to pawn items of jewelry that you are confident you can live without. An engagement ring from a previous relationship might be simpler to give up than pawned family heritage jewelry, which you might come to regret.
Get a quote from a pawn shop
Have your jewelry valued. Typically, only pure metals like gold and silver as well as diamonds are sought after by pawn shops. Costume jewelry and gold-plated products are frequently declined. Don’t pawn all of your jewelry at once, if at all possible. In case you are unable to repay the loan on time, keep at least one or two important items with you. So that you can avoid losing ownership of your jewelry, you can pawn it once more if you need to buy yourself some more time.
Understand the terms of the pawn agreement
Determine how long you will have to pay back the loan. You will be given a specific length of time by pawn shops to pay back your loan. The pawn store is permitted to keep your jewelry if you don’t make your payment on time. Make sure to estimate your repayment period accurately to give yourself the best possibility possible of recovering your valuables.
Make careful to build some “flexibility” into your schedule. If possible, extend your predicted timeline by a few weeks in case something unexpected prevents you from making the money as rapidly as you had hoped.
The process is truly very simple. Just stop by one of our locations, bring your item, and we can give you a quote. Then leave your item with us and walk out with the money in hand. Just bring the item back within the agreed upon time and you get your item back. Call USA Pawn at 601-501-7296 with any questions.