How does a pawn work?
A pawn is another term for a collateral loan. We lend money on items of value ranging from gold and diamond jewelry, musical instruments, televisions, electronics, tools, household items, firearms, and more. Loans are based on the value of the collateral. When a customer pays back the loan, their merchandise is returned to them. You may extend the term of your pawn if you pay storage and interest.

Why should I go to a pawnbroker to get a loan?
We offer the consumer a quick, convenient and confidential way to borrow money. Pawnbroking imposes a discipline on the borrower that other lenders do not. Pawn loans do not cause people to overextend credit or go into bankruptcy.

How much should I expect for a loan on my item?
Loan amounts vary according to the value of the item. There is no minimum dollar amount allowed on a pawn transaction but the maximum amount may be set by state pawn laws. Your loan amount will be determined according to factors such as demand and condition of the item. Not all pawn stores are the same and price will vary between them.

How do you determine the value of the item?
We base the value of the item on current appraised value, its current condition and the ability to sell the item. We use research tools that we have at our disposal to determine an item’s value and get you the most money for the item. The amount also varies depending on the type of item – for example, jewelry is evaluated differently than a DVD player. We test all items that we buy or pawn to ensure that it works properly.

How can I be sure the merchandise I purchase at a pawn store isn’t stolen?
Less than half of one percent of all pawned merchandise is identified as stolen goods. That’s because customers must provide positive identification and a complete description of the merchandise is taken down on the pawn ticket. This information is then regularly transmitted to law enforcement, which dramatically decreases the likelihood that a thief would bring stolen merchandise to a pawn store.

Are pawnshops regulated?
Yes, we are governed by all of the major federal laws that apply to entities designed as financial institutions. The federal laws that regulate the pawn industry are Patriot Act, Truth in Lending Act, Equal Credit Opportunity Act, as well as Data Privacy and Safeguard of consumer information as part of the Federal Trade Commission (FTC) Rules. We deal in firearms, so we are regulated by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). We are also licensed and regulated by local authorities as well.

Do most pawn customers lose their merchandise?
On average, about 80 percent of all pawn loans are repaid. Repeat customers make up a majority of our business. We establish relationships with their customers because they often borrow against the same items repeatedly. We offer non-recourse loans, looking only to the item being pledged to recover our investment if the borrower chooses not to repay the loan.

What are your pawns rates?

  • 5% interest per month
  • $4 storage per month

I have heard that Ohio pawnbrokers must take Continuing Education. Is this true?
Yes it is. At present, Ohio pawnbrokers are the only pawnbrokers in the nation that are required by law to fulfill continuing education requirements. Much the same as doctors, lawyers and educators Ohio’s Pawnbrokers and their employees (depending on the number of employees a shop has) must attend State approved continuing education classes.

What can I pawn or sell?
We accept most items as long as there is a resale market for them and they are in good condition. We will take a look at anything of value.

What is the difference between pawning and selling my item?
A pawn allows you to redeem your item held as collateral. The item is still yours. If you do not want to borrow against your item, you can sell it to us.

What happens if I decide not to reclaim or extend my pawn?
Your item is then offered for sale in our showroom.

What is the minimum/maximum amount I can borrow on my item?
There is no set minimum or maximum amount.

What types of payment methods do you accept?
We accept cash and checks as payment on your interest and storage. Cash payment is required to redeem your pawn.

Can I have more than one item pawned at a time?
You may pawn as many items as you like and have as many pawn transactions as you need.

What do I need to bring when I pawn my item?
You must be a minimum of 18 years of age and have a valid government issued photo ID.

Can anyone get information about my pawn?
Our customers are very important to us. We follow privacy laws set by the state and federal government. We do not release your information to anyone but you, except in the case of law enforcement as required by law.

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