Friday, March 19 2021
Sometimes, you need a bunch of cash in a short timeframe. Traditional loans like banks won’t cut it in these instances because you have to jump through too many hoops.
If you’re in this situation, you might have considered pawning one of your items at a pawn shop.
But is this a good idea? Or should you find fast cash somewhere else?
Well, pawn shops are excellent places for getting a loan in little time, actually. Here are some reasons why.
Same-Day Approval and Funding
As mentioned earlier, most traditional loan types can take days from starting your application to receiving your funding.
For pawn loans, however, you can be in and out the door with your money within the same day. If you truly need money today, you can get it at a pawn shop.
No Credit Check Required
Many Americans in need of some extra cash are denied loans due to having too low of a credit score.
They have nowhere left to turn in terms of getting cash — merely on the basis of a few numbers.
Additionally, credit checks harm your score. The last thing you want is your credit score to take damage and to get denied a loan.
At a pawn shop, things are different. There are no credit checks because you secure your loan with the item you pawn. As long as you have something of sufficient value, you won’t be turned down for a loan at a pawn shop. Plus, your credit score will remain untouched.
Sometimes, things happen. You may struggle to pay back your loan, or even find yourself unable to do so.
With traditional lenders, you’d face serious fees and credit damage should you fail to make payments. If you default, they can send collections agencies after you, and your life can turn into a nightmare fast.
But with a pawn loan, you can get out just fine.
Sometimes, you can ask the pawn shop for an extension for an added fee.
And if worse comes to worst — you can’t pay back your loan — all that happens is the pawn shop takes possession of your collateral.
No credit damage, no collections agencies, and no bankruptcy filings.
Obviously, we prefer you pay your loan back in full and time. But know that if you’re financially struggling and can’t pay back your loan, the consequences of “defaulting” on a pawn loan aren’t that bad.
Looking for some fast cash in Philadelphia? If you have an item you’re willing to put down as collateral, Cash Express would be happy to take a look at it and give you a fair offer. You could walk out with cash in your hand within hours. Come down to our store today!
Thursday, March 04 2021
Most people know that pawn shops are excellent places to find all sorts of jewelry. On occasion, you can find some truly special and valuable pieces if you peruse a couple of pawn shops.
If you enjoy jewelry, and you’re looking for especially unique and valuable pieces at pawn shops, you have to know how to spot them.
With that in mind, here are some tips for identifying unique and possibly valuable estate jewelry.
But first, a quick definition of estate jewelry.
What is Estate Jewelry?
Estate jewelry is really any jewelry that is used or previously owned, but primarily older pre-owned pieces. The word “estate” comes into play because someone owned it at some point. Since jewelry is valuable, it was likely part of their estate, thus the name.
What to Look For
As people wear a piece of jewelry through the years, it builds up to wear over time. This is called a patina on estate jewelry.
The patina can be made of skin oils, dirt, and polish. If the metal reacts with the air in some way — such as if it's silver — that adds to the patina.
Contrary to what you might think, patina adds value rather than subtracting from it. It adds character to the piece, but it also proves that the jewelry truly is an older piece.
So if you spot jewelry with a patina at the pawn shop, don’t shy away from the piece. It may be quite old and valuable.
The law requires jewelers to inscribe their marking on their jewelry. That said, plenty of jewelers have been doing this for longer than it was legally mandated.
A jeweler’s mark is a useful tool if you already know a piece is old. If an old piece has a jewelers mark — and it was made before the mark was required — then it’s probably of high quality.
Additionally, the mark can help establish where and when the jewelry was created — another important factor in determining its value.
For Gold: Quality Marks
If the estate jewelry is made of gold, there’s likely a mark indicating its purity.
The marking you’re more familiar with in the US is the two-digit marking followed by a “k”, such as 22k (22 karat gold). The other type of marking is a three-digit number — your jewelry may have this instead if it was made in Europe.
In both labeling systems, higher numbers indicate a higher purity of gold.
With that in mind, these markings can help you identify the value of a gold jewelry piece, especially if the patina makes it hard to tell.
At Cash Express in Philadelphia, we have plenty of beautiful pieces of jewelry for sale. We’re also happy to look at any pieces you have and get you a fair price fast. Come on in today, and bring your jewelry if you’d like to pawn it.