Las Vegas Pawn Shops
A Pawn Shop is an individual or business (pawnshop or pawn shops) that offers secured loans to people, with items of personal property used as collateral. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.
If an item is pawned for a loan, the pawner may buy it back for the amount of the loan plus interest. The amount of time, and rate of interest, is governed by the State of Nevada and the City of Las Vegas. If the loan is not paid within 120 days, the pawned item will be offered for sale by the pawnbroker/secondhand dealer. Unlike other lenders, the pawnbroker does not report the defaulted loan on the customer’s credit report, since the pawnbroker has physical possession of the item and may recoup the loan value through outright sale of the item. The pawnbroker/secondhand dealer also sells items that have been sold outright by customers to the pawnbroker or secondhand dealer.
Since the sudden rise in gold prices this year, many people are choosing to sell their gold jewelry instead of getting a loan. Most pawn brokers will buy your gold or silver at a much higher price than they will loan on it.
Cash for Gold of Las Vegas is not a pawn shop and is licensed as a secondhand dealer in Clark County.
Get top cash for your gold, silver, diamonds, and watches. We pay more cash on the spot than pawn shops – and we guarantee it! Call Cash for Gold of Las Vegas.