At Cash Express, we are very diligent about following the City of Philadelphia’s and the State of Pennsylvania's requirements for being pawnbrokers. There are many that are in place for consumer protection. Having a pawnbroker’s licence with both the city and the state is the primary step. Without that, a pawnshop is operating illegally. 

City of Philadelphia Regulations and Requirements for Pawnshops

Like other companies, Cash Express obtained its licence from the City of Philadelphia’s Business Office. We had to provide income and receipts tax ID, our commercial activity licence, and zoning approval (also from the City’s Business Office.) 

The application process includes an application fee, which you can handle online or in person at the Permit and Licence Center.

Pawn Shop Regulations After Licensure

1. Cash Express registered itself with the Philadelphia Police Department and uses an approved inventory tracking system. This ensures they do not buy or sell stolen goods. 

2. Mandatory hours of operation are from 8:30 am to 5 pm (not before or after). There are no business transactions on Sundays.

Buying and Selling at Pawn Shops

1. We require a valid personal photo ID (State or Government) from you before we can purchase anything from you. Please ensure you bring it with you when visiting.

2. Once we’ve agreed on a value, we’ll take a picture of you and then take an imprint of your left thumb, per PA guidelines. 

3. We will issue you a ticket if you are pawning your item. This ticket is vital. It proves your ownership when you pay off your Cash Express Quick Cash loan.

4. Afterward, we will register and report the transaction managed by the Philadelphia Police Department.

State of Pennsylvania Regulations and Requirements for Pawnshops

On a state level, the pawnbroker must obtain a license through the Commonwealth of Pennsylvania Department of Securities. The fees and bond apply to EACH business location. There are also capitalisation rules, with a minimum capitalization of $10,000 per location. A shop owner must renew their licence annually, submitting their request at least a month in advance.

If our store were ever to relocate, we would have to get prior approval via application. Any changes in the originally reported business structure require a new license. Stores must have:

• Adequate security measures

• A vault

• A means of tracking tickets effectively.

All three of these mandates protect consumers’ property.

Failure to follow any of the rules can result in fines, a suspension of the license to operate, and even Cease Operation Orders.

Cash Express 

Cash Express believes in being an active part of our community. That means abiding by city and state laws and regulations, and keeping abreast of changes. You can come here secure in the knowledge that we have all applicable licences up to date.

Whether you’re buying or selling jewelry, antiques, computers, smartphones, tools, etc., our professionals are ready to lend a helping hand. If you’d like more information, you can contact us in three ways:

Our online contact form 

Email us at info@pawnphiladephia.com, or Call our office at 215-922-1560

If you own gold or high-end electronics you’d like to sell, you may wonder if there are windows of opportunity to get a better return on your investment. The answer is yes. Like any other market, both gold and electronics have market trends and seasonal prices.

Gold

At Cash Express, we see people selling various assets in December, hoping to decrease their taxes, so you have some competition at this time of year. Nonetheless, come January, people want to buy again, so gold dealers will want to have reliable stock for their customers. In the gold industry, this is called the “January Effect.”

Wedding Season

No matter where you are in the world, selling gold during the wedding season is a great idea. There’s a bump in demand. An example of this is in India, where gold has cultural significance. Their wedding season is November, and the demand for gold goes through the roof. In Hindu tradition, gold brings blessings from the Goddess of Wealth, Lakshmi. The more gold jewelry, the more elaborate, the better. The effect in the US is tamer and depends on:

• The Economy: In times of uncertainty, investors often turn to gold as a safe asset.

• Gold Prices: These fluctuate all the time. Look for upticks for a better return. 

• Gold with Valuable Stones: If you’re selling gold jewelry, a quality stone improves the price you should get. 

• Uniqueness: If you have rare gold coins, for example, they may be in high demand throughout the year.

The Glitter of Holidays

The time leading up to the winter holidays through Boxing Day is prime time for gold. Giftable items like earrings, bracelets, and necklaces are ideal. People are also looking for gold rings to propose on Christmas Eve or Christmas Day.

Lunar New Year (China)

Gold gifts are widespread as gifts on the Lunar New Year, as they represent kind wishes for prosperity in the coming year. In this market, it's best to sell in December and January.

Summer Slowdown

At Cash Express, we’ve noticed a decrease in people looking for gold items. But if you’re looking to buy, now’s the time. 

Electronics:

Like gold, electronics have seasonal price peaks and market-driven changes, making it a little harder to know when the best time to sell electronics is. Much depends on what you have to sell. For example, just before the school season begins, parents seek out tablets, laptops, and smart watches. 

Come the holidays, folks want all manner of electronic gifts. Individuals looking to upgrade their electronics tend to make purchases more readily after receiving their tax return. Make sure to sell your electronics before the newer model comes out. After that, your return decreases.

Sell at Cash Express

No matter what time of year, Cash Express is looking for quality gold items (like jewelry) and electronics in good condition. You can get quick cash by bringing in your item(s) and having us check pricing for you. We especially love one-of-a-kind pieces. Give us a call at 215-922-1560 for any questions you may have. Alternatively, use our online contact form or email us at info@pawnphiladephia.com.