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Your Pawn FAQs, Answered

Last updated 2 years ago

Get the most out of your local NYC pawn shop experience by knowing what to expect before you step into the store. Whether you wish to sell watches, get cash for gold, or buy some merchandise, Gem Pawnbrokers offers the services you need. Keep reading to find answers to some of the most frequently asked pawn questions:

How Long Do I Have to Pay My Loan?

  • When you bring in an item to pawn, the broker will give you a loan based on its value. You have four months after you receive the loan in which to pay it back. If you cannot afford to pay, you may choose to give up your collateral as full payment for the loan.

Will My Items Be Safe?

  • When you pawn an item, you do not have to worry about its safety. The pawn shop works hard to keep all of your belongings organized and protected. Each pawn is transported by armored truck to a secure bank vault where it will stay until you are ready to collect it. We also insure every item in the shop.

How Can I Collect My Item?

  • Once your loan is paid off, call the broker about 48 hours in advance to make sure they have your item ready. Return to the shop where you pawned your item with your original yellow ticket. You will then regain ownership of your item.

Can I Extend My Loan?

  • If you need more than four months to pay off the loan, return to the store with your original yellow ticket and your current payment. The pawn shop can reprocess the loan and give you four more months in which to pay it off.

Gem Pawnbrokers is the ultimate pawn shop in New York City. With more than 20 locations, we provide the watch and gold buying services you need to get some extra cash. When you are ready to explore what the pawn shop has to offer, call (718) 225-5436 for more information.


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  • Hours:

  • 9:00 AM to 6:00 PM Monday
  • 9:00 AM to 6:00 PM Tuesday
  • 9:00 AM to 5:00 PM Wednesday
  • 9:00 AM to 6:00 PM Thursday
  • 9:00 AM to 5:00 PM Friday
  • 9:00 AM to 5:00 PM Saturday


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