Pawn shops and pawnbrokers seem to get a bad reputation through misinformation
and misunderstandings. There are no back-alley deals or shady stores when
you enter a pawn shop. You will find only a legitimate business, working to
serve people in whatever they need.
Myth: Pawn Shops Are Low-Class
The idea behind pawn shops—using something valuable as collateral
for a loan—has been around for a long time. Banks use it when you
have a loan on a car or a mortgage on your house. Everyone, from all walks
of life, participates in this practice through some official establishment.
Pawn shops help and serve anyone who enters their door. Those clients
come from all walks of life looking for financial help, items to buy,
or other pawn services.
Myth: Everything is Stolen
Shops wouldn’t be in business very long if they accepted and sold
stolen items. There are usually strict rules and regulations regarding
pawn shops, and how they buy and sell their items. If you sell something
to a pawn shop, you should be asked for your government identification.
The pawnbroker can keep track of you, if he receives notification that
the item is stolen or hears something suspicious about the item or the seller.
Myth: They Only Carry Junk
Since pawn shops are far from low-class establishments, it wouldn’t
make sense to sell only low-class junk. Often, you can find great deals
on high-quality items, such as electronics, musical instruments, and watches.
You might even find some great gems, like nice jewelry and collectibles.
If you have been looking for something specific, don’t be afraid
to ask your pawnbroker to keep an eye out for you.
When you think of a pawn shop, think of Gem Pawnbrokers. We have almost
70 years of experience as the largest NYC pawnbroker. Whether you are
sell gold, buy gold, or find a great deal in one of our 28 branches, you know who
to call. We are available online or at (718) 596-5626 to answer any of