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 […]
Category Archives: Pawn Shop
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 […]
The number of pawn shop customers is increasing this year, according to an ABC News article (bit.ly/LlOTaE). The article found that there are more American consumers going to pawn shops in the South Bend area this year than in years past. “If you need $20 bucks to get through the week to finish off your […]
Retail jewelry stores and pawn shops have some major and important differences. Unlike traditional jewelry stores, pawn shops can price their gold items according to the current price of gold in the market. They have the unique ability to monitor the market and price items, such as necklaces and bracelets, accordingly. In the retail jewelry […]
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 […]
Bank lending rates are at their lowest since the Great Depression, according to Standard & Poor’s, a leading financial services firm. This leaves consumers turning more and more to pawn shops to meet their credit needs. It is extremely difficult in the current economic environment to get small business loans and personal loans from large […]
Pawn shops are strictly regulated by a number of federal, state, and local laws and standards. On a federal level, pawn shops are regulated by the Federal Trade Commission, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, and the Treasury Department. They must comply with the following federal laws: The Truth & Lending Act The […]
1. The average collateral loan amount nationwide is $100, according to the National Pawnbrokers Association. This shows that collateral loaning is often used to help consumers obtain a small source of funding. Pawn shop customers tend to borrow only what they need, and often use the funds as a safety net in the case of […]
U.S. pawn shops remained resilient throughout the recession and are becoming more mainstream, according to a new report from an independent market research firm. The pawn industry was worth $14.5 billion in the United States last year, and the total number of U.S. pawn shops is more than 11,000 and growing, according to “U.S. Pawn […]