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5 Common Things that Pawn Shops Sell and Buy

Are you in need of some quick cash, and got nobody to ask for it?

Did you know? Your Fender Squier Bullet Guitar could be the helping hand you need right now! Yes, if you are looking forward to getting some quick cash in Fort Bragg, North Carolina, or in cities around, then the pawnshops such as Parker Pawn & Jewelry can be one thing you can rely on! Pawn shops are one of the most convenient places to pawn things for money when nobody can lend a helping hand.

Now that you know where to rely on in times of financial crisis, it is also important to know what common items a pawn shop buys and sells. But first, let us explain what is a pawn shop.

What is a Pawn Shop?

A Pawnshop is a place where you can get quick cash in return for pawning some of your valuable items. Pawn shops are usually imagined as shabby places that may sell used and broken items. However, in recent times, pawnbrokers such as Parker Pawn & Jewelry have completely redefined the image of the business by providing high-end authenticity to the products pawned at sold at their shops.

Understand what is a pawn shop? Now let us help bust a few Myths about Pawn Shops.

Common Myths about Pawn Shop

Myth: Pawn shops buy your belongings

Fact: Technically speakinga pawnshop or pawnbrokers do not buy your belonging. They just keep them as collateral for the time when you fail to pay back the loan within the given period.

Myth: Pawn shop will pay the right worth of your belongings.

Fact: Most of the pawnshops pay way less than what your belongings are worth. Although a pawn shop is the quickest way to make money from your belongings, the amount you get from a pawn shop may be lesser than what you’ve expected.

Myth: Pawn shops can pawn money for anything.

Fact: While it is not an absolute myth, there are still some facts to be stated. Although the place sells second handed items, it doesn’t mean the items are clamped or tampered with. In fact, the items you buy from a Pawnshop can be too good to not be new.

Thus, it is a myth that a pawn shop can lend money for anything. The thing that you can pawn for money should also be valuable, for it to be pawned.

5 Common Things Pawn Shops Buy and Sell

Now that we have cleared the common myths people have about pawn shops, here are five common things that can be bought or pawned in a pawn shop.

Red ruby halo setting diamond stud earrings set isolated on white

1. Jewelry 

Gold or silver jewelry that you bought years ago on an occasion, but are no longer interested in wearing, can be one of the best things you can pawn for money. Given your jewelry is 100% authentic and in good condition, you can pawn them and get quick cash.

Also, if you wish to buy jewelry at a concessional price, you can always consider visiting your nearest trusted pawn shops and selecting your new gold or silver jewelry from some of the best collections.

2. Handbags

If quick cash is what you need for the moment, your branded handbag can be a good prospect to use as collateral for pawning. Handbags are some of the most common materials that pawnshop pawns or sell.

Also, if you are looking forward to buying branded handbags, remember to visit your nearest pawnshop before purchasing from the showroom.

musical instrument saxophone

3. Musical Instruments

Bored with playing your musical instrument? Or have you lost your interest in them? Whatever the case, if your musical instrument is in good and maintained condition, it can be one of the many things you can pawn for money.

If you wish to buy some of the best musical instruments, but somehow cannot afford them, go vintage! Yes, you can find most traditional masterpieces at your nearest pawnshops.

4. Electronics

If you take a quick ride to the price guide at a pawnshop, you will get a good price on electronics such as old phones, iPhones, iPads, and laptops.

You may also find some good deals on the purchase of these second-hand items from a pawn shop. Anticipated the durability of the electronics? Don’t worry! Most Pawnshops only take a product for pawning if they are in good condition to use.

various silver coins on grey background

5. Collectibles, Coins and Currency

Although not all pawn shops near you will provide pawning services for collectibles, most of them do! Since not many pawnshops do pawning for collectibles and currencies, you must know the right price you should get while pawning or buying a collectible from a pawnshop.

Summing Up 

There are several things that you can pawn for money. However, you should be careful with what you sell and buy at a pawn shop, as the slightest of carelessness with where to buy and pawn valuable items can lead to fraudulent events. While shopping from a pawnshop, always test the reputation and trustworthiness of the pawnbroker, and always buy from a pawnshop that radiates trust through their happy customers.

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Parker Pawn offers the best item-backed loans in the area. Our plans are flexible with a maximum repayment period of 10 years. Our interest rate is 2.9% per month or 35% APR when clients borrow 30%-50% of the liquid wholesale value of their pledged collateral over $10,000. For example, if you have an asset with a liquid wholesale value of $25,000 and borrow $10,000, your interest would be $291.66/month. If you borrowed the money for 3 months, your total payback amount would be $10,740. Loans greater than $50,000 can qualify for even lower rates.

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