Century Pawnbroker - New Jersey

Pawn or Sell: Which Option is Right for You?

Pawning and selling each have their own advantages. Pawning lets you use the value of an item as collateral against a loan, while selling is a one-time transaction that gets you cash fast with no stings attached. A pawn lets you get your item back if you meet the terms of the agreement with your pawnbroker. Here is a brief guide to determining which option is best for you: 

Pawning Is a Secured Loan

Pawning a valuable item is a great option is you need money quick but don’t want to lose full possession of the item in question. The conditions of the pawn depend largely on the agreement between you and your pawnbroker. Here’s how the pawning process works in a nutshell:

1. You bring the item you wish to use as collateral against a loan. This is the action of pawning.
2. The pawnbroker will assign a loan value to that item and draw up a loan agreement with you for a determined period of time.
3. You repay the loan amount plus interest for the safekeeping of your valuable item over time.
4. Once you’ve repaid the terms of the loan, you get your collateral back.

If all goes well, you’ll receive the money you need and keep your valuable item as well.

Selling Is a One-Time, Fast Transaction

If you have no use or attachment to a valuable item, consider selling it instead of pawning. Selling is a pretty straightforward transaction, as you can imagine. In exchange for money, the seller gives up full ownership of an item to the buyer. The item now can be used for whatever purpose the new owner wants. Selling is great if you want to free up space in your house or want to receive cash fast and without having to make monthly payments or pay interest on it.

With over 60 years of pawn brokering experience in New Jersey, Century Pawnbrokers is committed to providing our customers with personalized service and value. In addition to our retail services, we also provide instant cash loans on gold, diamonds, watches and more. For more information about Century Pawnbrokers and our cash for gold services visit our website or call us at (877) 826-8347.

Learn the Truth About Pawnshops

Pawnshops are more important to the American economy that ever. They provide instant cash loans to those in need, and they are a great place to find unique items. Learn more about pawnshops around the country with these resources!

• Check out this website to learn more about coins throughout the history of the United States.

• Get answers to some frequently asked questions about pawnshops from the National Pawnbrokers Association.

• For more information about the history of pawnshops, head over to MentalFloss.com.

• If you’re new to pawnshops, here are some tips about how to get the most money out of your experience.

• In the past few years, many Americans’ view of pawnbrokers has changed, as this article explains.

With over 60 years of pawn brokering experience in New Jersey, Century Pawnbrokers is committed to providing our customers with personalized service and value. In addition to our retail services, we also provide instant cash loans on gold, diamonds, watches and more. For more information about Century Pawnbrokers and our cash for gold services visit our website or call us at (877) 826-8347.

A Pawn Shop's Hidden Treasures

In addition to items like jewelry and musical instruments, many pawnshops also have remarkable collections of valuable old coins. Check out this clip from Pawn Stars to learn more about some of the collectible coins available from pawn shops.

The three-cent nickel, a coin worth three cents made out of nickel, is the main focus of this segment. Though it was unpopular when it was in circulation, this coin may be worth as much as $20,000 today. Indeed, many older denominations of coin have become valuable after being removed from circulation.

With over 60 years of pawn brokering experience in New Jersey, Century Pawnbrokers is committed to providing our customers with personalized service and value. In addition to our retail services, we also provide instant cash loans on gold, diamonds, watches and more. For more information about Century Pawnbrokers and our cash for gold services visit our website or call us at (877) 826-8347.

Qualities to Look for in a Reliable Pawnbroker

If you’re thinking about pawning something, it is important to choose the right pawnshop. Check out this list of characteristics to look for in a pawnbroker to make sure you get the best deal for your items.

Fair prices. Before pawning or selling an item, take a look around the pawnshop and look at the prices of items for sale. If they are unrealistically inflated, the shop will probably also try to give you less than you deserve for your items. Pawn shops have the right to make a profit, but inflated prices can be a sign of unscrupulous practices.

Negotiation skills. The give-and-take of negotiation is an essential part of the pawn shop experience, and it gives you a chance to get the best price for what you’re selling or pawning. Be wary of anyone in a pawn shop who won’t negotiate; he probably isn’t a skilled appraiser.

Experience. As they gain more experience, pawnbrokers develop a keen sense for the value of various items. A pawnbroker who is just starting out might not have the confidence or analytical skills to give you the price you deserve for what you’re pawning or selling.

Multiple services. Reliable pawnshops and pawn brokers will be able to offer you a variety of services, including pawning, sales, and jewelry appraisal. If a pawn shop only offers a few services, they probably haven’t taken the time to train employees to evaluate unique or expensive items. Typically, the more comprehensive a pawn shop is, the more you can count on the employees being knowledgeable and fair.

With over 60 years of pawn brokering experience in New Jersey, Century Pawnbrokers is committed to providing our customers with personalized service and value. In addition to our retail services, we also provide instant cash loans on gold, diamonds, watches and more. For more information about Century Pawnbrokers and our cash for gold services visit our website or call us at (877) 826-8347.

Fun Facts and Statistics About Pawnbrokers

Pawnshops are more popular than ever, and many people rely on them as a source of cash during emergencies. To find out more about this time-tested institution, check out these facts about pawnshops.

Pawnshops began in China. The practice of pawning items began in China in 206 BC. In those pawn shops, customers could take up to three years to repay their loans.

Less than 0.5% of the merchandise in pawn shops is stolen. Though some pawnshops have a bad reputation as being full of stolen goods, the reality is that pawnshops are required to keep records of who sells or pawns merchandise, when the transaction occurred, and what was sold or pawned. These records must be submitted to the police to be checked against records of theft, keeping most pawn shops free of stolen goods.

Eighty percent of pawn loans are repaid. In a vast majority of cases, customers return to the pawn shop to pay their loan and retrieve their property. In fact, many customers visit pawn shops on a regular basis for short-term loans whenever they need extra money. It is rare for customers to simply abandon their items.

The average pawn loan is about $75. In general, customers bring small items of moderate value, like jewelry, just to get some extra cash to pay a bill or an unexpected expense. Few people use pawn shops for large loans to pay significant debts.

Even royalty have used pawn shops. In 1338, King Edward III pawned the crown jewels to pay military expenses at the beginning of the Hundred Years’ War. He wasn’t the only medieval leader to take advantage of a pawn loan—Pope Leo X pawned his palace furniture to pay for his lavish lifestyle.

With over 60 years of pawn brokering experience in New Jersey, Century Pawnbrokers is committed to providing our customers with personalized service and value. In addition to our retail services, we also provide instant cash loans on gold, diamonds, watches and more. For more information about Century Pawnbrokers and our cash for gold services visit our website or call us at (877) 826-8347.