What does the pawn shop symbol mean?

  |  in News, Pawn ShopNo Comments
The Suffolk Jewelers & Pawnbrokers logo features the traditional symbol of the pawnbroker, which is three spheres suspended from a bar. As legend has it, this symbol traces back to the Medici family – a prominent family in Florence, Italy in the 15th century that was known for loaning and banking. The Medici family crest features the symbol of the three balls, because a member of the Medici family was supposedly working for Emperor Charles the Great and killed a giant with three bags of rocks. The Medicis were so well known as a finance family that other lenders and people in the finance business adopted similar coats of arms featuring the three golden balls. Gradually, the three balls came to signify the financial profession. Another story goes this way - Saint Nicolas, the patron saint of pawnbrokers, gave three bags of coins to the three daughters of a poor man so that they could marry. The three balls in the symbol represent the three bags of coins. Another lesser known possible origin is a coin dating to A.D. 68 during the Roman Empire. The coin, called the Silver Shekel or Shekel of Israel, was issued after a Jewish revolt against the Romans. The coin had an illustration of three pomegranates sharing one stalk. Whatever the exact origin, the symbol has staying power. It is a trademark of the industry, featured in numerous logos, including the logo of the National Pawnbrokers Association--the industry’s premier trade association. Also, the symbol is featured in pawn shops all over the world.
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Rolex watches are a regular sight in a pawn shop. Rolex watches keep their value well and are always in demand so getting a loan on your Rolex watch is a great option if you need cash. As with any collateral loan at a pawn shop, getting a loan on a Rolex watch lets you get cash in a hurry while still affording you the opportunity to return and reclaim your prized watch. We’ve put together a quick guide to getting a loan on a Rolex watch to get started. Take a look at the five points below and if you would like to know more feel free to give us a call or come by the store.
  1. Before you go to get a loan on your Rolex watch it is a good idea to have an idea of how much you money you need and how much your Rolex is worth. A Rolex will always be worth more if you sell it outright but if you’d like to be able to return for your rolex you’ll want to pursue a collateral loan for the amount you need. The amount a pawn broker will be willing to loan you will be based on the value of your Rolex. The condition, model, materials, age, and authenticity will all factor into the value of your watch.
  2. Not all watches are an authentic Rolex and if your watch is counterfeit it can be very difficult to get a loan on. Counterfeit Rolex watches range dramatically in quality. Some counterfeits can be spotted just by looking closely at the watch or by comparing it with another similar Rolex watch. Sometimes it takes a trained eye to spot the difference between a real Rolex and a knock-off. The modern counterfeit Rolex can look exactly like a genuine one from the outside.  Counterfeiters have taken to actually hand painting the colored wheels in the watch movement to make it look genuine not only on the outside but on the inside also.
  3. Make sure your Rolex comes in the best condition possible! An important factor in getting all the money you need when getting a collateral loan on a Rolex watch is its condition. The most valuable Rolex will be running smoothly and be free of scratches or dents. If the watch has been opened it will usually no longer be waterproof. Most pawnbrokers can have it resealed for a nominal charge. Appearance counts for a lot when getting a loan on a Rolex watch. To ensure you get top dollar when getting a loan on your Rolex watch, make sure the watch is clean and if possible polished before you bring it in.
  4. Bring in the whole package. If you have the box and papers that originally came with the watch make sure you bring them in too.  A genuine Rolex watch is worth a few hundred dollars more when accompanied by all the original documents, receipts, and packaging. If you’re interested in getting the largest possible loan on your Rolex these little details can make a big difference.
  5. If you’re not getting the loan you need from a pawnbroker, don’t be afraid to counter offer and settle on a loan price for the Rolex somewhere in between. Getting a loan on your Rolex for more than you need means that you’ll pay more interest fees but if you aren’t being offered a loan for the full amount that you need then you should not shy away from negotiating a bigger loan on your Rolex.
Rolex watches are one of the most popular items to sell at a pawn shop. Before you go to sell your Rolex watch it is a good idea to have an idea of how much your Rolex is worth. The most important factor in the value of a Rolex watch is its authenticity. Many people wonder how to tell if a Rolex watch is fake or real. If you purchased it from a legitimate retail store you can be confident that your Rolex is genuine.  On the other hand, if you purchased the watch from a web site or received it from a friend it is possible that your watch is a counterfeit. Counterfeit Rolex watches range dramatically in quality. Some counterfeits can be spotted just by looking closely at the watch or by comparing it with another similar Rolex watch. Sometimes it takes a trained eye to spot the difference between a real Rolex and a knock-off. The modern counterfeit Rolex can look exactly like a genuine one from the outside.  Counterfeiters have taken to actually hand painting the colored wheels in the watch movement to make it look genuine not only on the outside but on the inside also. Another important factor when you sell your second hand Rolex watch is its condition. The most valuable Rolex will be running smoothly and be free of scratches or dents. If the watch has been opened it will usually no longer be waterproof. Most pawnbrokers can have it resealed for a nominal charge. Appearance counts for a lot in a second hand watch. To ensure you get top dollar when you sell your Rolex watch, make sure the watch is clean and if possible polished before you bring it in. If you have the box and papers that originally came with the watch make sure you bring them in too.  A genuine Rolex watch can be sold for a few hundred dollars more when accompanied by all the original documents, receipts, and packaging. A pawnbroker will need to inspect the watch and remove the band to determine the year it was made and the model number. Once a pawnbroker has inspected the watch he or she will make you an offer assuming the Rolex is genuine. Don’t be afraid to counter offer and settle on a sale price for the Rolex somewhere in between. Once you have negotiated and agreed upon a price the pawnbroker will need to open the watch and examine the movement to confirm the watch’s authenticity before completing the sale of your Rolex watch and giving you your money.Suffolk Jewelers & Pawnbrokers has anchored Boston’s historic South End district since its opening in the early 20th century. It is the oldest pawnshop in Boston and the largest store of its kind in New England. The store’s experienced personnel have processed countless gold transactions, and understand the value and nature of gold items. If you are interested in selling a gold item, such as a necklace or a bracelet, consider these tips from Suffolk’s owner, Ed Bean. Before walking in to present your gold item to a buyer, Bean said, follow these steps: Know Your Gold Knowledge is power. Or, in the case of selling gold, knowledge is money. Be sure you know details about your gold when going in to a deal. Know the carat weight and if it is a vintage or historical item. Also consider the workmanship, designer, artistic elements, embedded gems, and other characteristics of the piece. Most items are karated gold. This means that these items are only a fraction of the weight in pure gold and therefore a percentage of the current gold price. You can also have your item professionally appraised before bringing it in to a dealer so you have a better sense of what you are selling. Know the Market Research the current gold market, as the dealer’s offer for your gold will reflect the market. Research the current market price for gold so you are informed during the appraisal process. When researching the price of gold, don’t be confused by reports about the price of gold in financial markets. Those numbers deal with gold futures. The actual price of gold items can be determined by looking at what dealers are charging, from auction sites, and other sources. Know the Buyer Research the buyer before you attempt to sell your item. Research the reputation of the business. Check local business reviews to find customer testimonials about the store. You can also check the Better Business Bureau to see if any complaints have been filed about the business. Most legitimate gold dealers will use penny weights as opposed to grams as a measure of gold weight. Bring your ID Buyers are required to check your identification, so don’t forget to bring a valid ID with you to the appraisal. A valid ID includes a non-expired driver’s license or passport. Buyers are required by law to ask sellers for government-issued identification. All valid buyers will require this information. Remember You Can Walk Away Remember that it is your gold, and you do not have to feel pressured to enter into a deal. You can walk away and return another day. Or you are welcome to get a second bid at another store. “The more knowledgeable you are about your gold and the current market, the more well-versed you will be during a transaction, and the happier you’ll be with the result,” Bean said. Suffolk Jewelers & Pawnbrokers is a reputed, experienced buyer and seller of gold. The store has a large group of loyal customers who return year after year and decade after decade to sell gold and other items.
  • Related Posts

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    • November 13, 2012
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    • September 20, 2012
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Rolex watches are a regular sight in a pawn shop. Rolex watches keep their value well and are always in demand so getting a loan on your Rolex watch is a great option if you need cash. As with any collateral loan at a pawn shop, getting a loan on a Rolex watch lets you get cash in a hurry while still affording you the opportunity to return and reclaim your prized watch. We’ve put together a quick guide to getting a loan on a Rolex watch to get started. Take a look at the five points below and if you would like to know more feel free to give us a call or come by the store.
  1. Before you go to get a loan on your Rolex watch it is a good idea to have an idea of how much you money you need and how much your Rolex is worth. A Rolex will always be worth more if you sell it outright but if you’d like to be able to return for your rolex you’ll want to pursue a collateral loan for the amount you need. The amount a pawn broker will be willing to loan you will be based on the value of your Rolex. The condition, model, materials, age, and authenticity will all factor into the value of your watch.
  2. Not all watches are an authentic Rolex and if your watch is counterfeit it can be very difficult to get a loan on. Counterfeit Rolex watches range dramatically in quality. Some counterfeits can be spotted just by looking closely at the watch or by comparing it with another similar Rolex watch. Sometimes it takes a trained eye to spot the difference between a real Rolex and a knock-off. The modern counterfeit Rolex can look exactly like a genuine one from the outside.  Counterfeiters have taken to actually hand painting the colored wheels in the watch movement to make it look genuine not only on the outside but on the inside also.
  3. Make sure your Rolex comes in the best condition possible! An important factor in getting all the money you need when getting a collateral loan on a Rolex watch is its condition. The most valuable Rolex will be running smoothly and be free of scratches or dents. If the watch has been opened it will usually no longer be waterproof. Most pawnbrokers can have it resealed for a nominal charge. Appearance counts for a lot when getting a loan on a Rolex watch. To ensure you get top dollar when getting a loan on your Rolex watch, make sure the watch is clean and if possible polished before you bring it in.
  4. Bring in the whole package. If you have the box and papers that originally came with the watch make sure you bring them in too.  A genuine Rolex watch is worth a few hundred dollars more when accompanied by all the original documents, receipts, and packaging. If you’re interested in getting the largest possible loan on your Rolex these little details can make a big difference.
  5. If you’re not getting the loan you need from a pawnbroker, don’t be afraid to counter offer and settle on a loan price for the Rolex somewhere in between. Getting a loan on your Rolex for more than you need means that you’ll pay more interest fees but if you aren’t being offered a loan for the full amount that you need then you should not shy away from negotiating a bigger loan on your Rolex.
Rolex watches are one of the most popular items to sell at a pawn shop. Before you go to sell your Rolex watch it is a good idea to have an idea of how much your Rolex is worth. The most important factor in the value of a Rolex watch is its authenticity. Many people wonder how to tell if a Rolex watch is fake or real. If you purchased it from a legitimate retail store you can be confident that your Rolex is genuine.  On the other hand, if you purchased the watch from a web site or received it from a friend it is possible that your watch is a counterfeit. Counterfeit Rolex watches range dramatically in quality. Some counterfeits can be spotted just by looking closely at the watch or by comparing it with another similar Rolex watch. Sometimes it takes a trained eye to spot the difference between a real Rolex and a knock-off. The modern counterfeit Rolex can look exactly like a genuine one from the outside.  Counterfeiters have taken to actually hand painting the colored wheels in the watch movement to make it look genuine not only on the outside but on the inside also. Another important factor when you sell your second hand Rolex watch is its condition. The most valuable Rolex will be running smoothly and be free of scratches or dents. If the watch has been opened it will usually no longer be waterproof. Most pawnbrokers can have it resealed for a nominal charge. Appearance counts for a lot in a second hand watch. To ensure you get top dollar when you sell your Rolex watch, make sure the watch is clean and if possible polished before you bring it in. If you have the box and papers that originally came with the watch make sure you bring them in too.  A genuine Rolex watch can be sold for a few hundred dollars more when accompanied by all the original documents, receipts, and packaging. A pawnbroker will need to inspect the watch and remove the band to determine the year it was made and the model number. Once a pawnbroker has inspected the watch he or she will make you an offer assuming the Rolex is genuine. Don’t be afraid to counter offer and settle on a sale price for the Rolex somewhere in between. Once you have negotiated and agreed upon a price the pawnbroker will need to open the watch and examine the movement to confirm the watch’s authenticity before completing the sale of your Rolex watch and giving you your money.Suffolk Jewelers & Pawnbrokers has anchored Boston’s historic South End district since its opening in the early 20th century. It is the oldest pawnshop in Boston and the largest store of its kind in New England. The store’s experienced personnel have processed countless gold transactions, and understand the value and nature of gold items. If you are interested in selling a gold item, such as a necklace or a bracelet, consider these tips from Suffolk’s owner, Ed Bean. Before walking in to present your gold item to a buyer, Bean said, follow these steps: Know Your Gold Knowledge is power. Or, in the case of selling gold, knowledge is money. Be sure you know details about your gold when going in to a deal. Know the carat weight and if it is a vintage or historical item. Also consider the workmanship, designer, artistic elements, embedded gems, and other characteristics of the piece. Most items are karated gold. This means that these items are only a fraction of the weight in pure gold and therefore a percentage of the current gold price. You can also have your item professionally appraised before bringing it in to a dealer so you have a better sense of what you are selling. Know the Market Research the current gold market, as the dealer’s offer for your gold will reflect the market. Research the current market price for gold so you are informed during the appraisal process. When researching the price of gold, don’t be confused by reports about the price of gold in financial markets. Those numbers deal with gold futures. The actual price of gold items can be determined by looking at what dealers are charging, from auction sites, and other sources. Know the Buyer Research the buyer before you attempt to sell your item. Research the reputation of the business. Check local business reviews to find customer testimonials about the store. You can also check the Better Business Bureau to see if any complaints have been filed about the business. Most legitimate gold dealers will use penny weights as opposed to grams as a measure of gold weight. Bring your ID Buyers are required to check your identification, so don’t forget to bring a valid ID with you to the appraisal. A valid ID includes a non-expired driver’s license or passport. Buyers are required by law to ask sellers for government-issued identification. All valid buyers will require this information. Remember You Can Walk Away Remember that it is your gold, and you do not have to feel pressured to enter into a deal. You can walk away and return another day. Or you are welcome to get a second bid at another store. “The more knowledgeable you are about your gold and the current market, the more well-versed you will be during a transaction, and the happier you’ll be with the result,” Bean said. Suffolk Jewelers & Pawnbrokers is a reputed, experienced buyer and seller of gold. The store has a large group of loyal customers who return year after year and decade after decade to sell gold and other items.
  • Recent Posts

    • November 19, 2012
      Five Tips For Getting A Loan On A Rolex Watch
      ...
      Read More
    • November 13, 2012
      How To Sell A Rolex Watch
      ...
      Read More
    • September 20, 2012
      Boston Pawn Shop Gives Tips on Getting the Most Cash for Your Gold
      ...
      Read More

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