Las Vegas Pawn Shops

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.

Pawn Gold Jewelry

Do you really want to pawn gold jewelry? With gold prices at an all time high, you may be better off selling your gold, platinum or silver jewelry. Most pawn shops are going to give you less than 50% of the value of your jewelry. You are then going to be resposible to pay up to 10% a month in interest, just to keep your lozn from going into default. Most pawn shops will allow you to pay the interest on your loan for up to 3 months, and then it is your responsibility to make sure you can pay the full balance by the end of the 90th day. If you fail to do this, then the pawn shop just bought your jewelry for less than half price, maybe even less if you made interest payment during the time of your loan. 80% of pawn loans are left unredeemed.

Gold and other precious metals are at an all time high. To pawn¬†gold jewelry you risk giving your jewelry away for less than half it’s value. We will buy your gold jewelry and pay up to 90% of the precious metal content. This is much higher than a pawn shop, and you walk away with the cash immediately. Cash for gold of las vegas is the place to take all your broken or unwanted jewelry and get the highest prices in Las Vegas.

Call us now and get a free appraisal of your gold, silver or platinum jewelry before you go to a pawn shop. You can then make a educated decision about the best way to handle your gold or other precious metal. If you still want to pawn gold jewelry, then at least you can feel good knowing that you have looked at all your options.

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