Most convenient New York pawnbroker with 20+ branches in NYC area! Stop by and get cash for your gold! We've been the largest gold buyer in NY for over 60 yrs!

What to Do with Your Unwanted Gift Cards

Birthdays, graduation parties, and holidays are all great because you get to celebrate an occasion while receiving gifts. If you end up with a gift card that you have no use for, however, consider calling your local pawn shop. Read on to find out what to do with your unwanted gift cards.

Opening a birthday card to find a gift card that is completely irrelevant to your interests may be disappointing, but now there is something you can do about it. Bring your unwanted gift cards to your local Gem Pawn Brokers shop and trade them in for cash. This eliminates the process of waiting to mail your gift card away or trying to find an excuse to use it. Instead, sell your valid gift card for cash that you can spend on anything your heart desires.

If you have unwanted gift cards that you are looking to get rid of, call Gem Pawnbrokers at 718-596-5626. As a pawn broker in NYC, we are happy to sell gold as well as offer cash for gold. For more information about our pawn shop, feel free to visit our website or stop in and meet with us today.

Looking Back at the History of Pawn Shops

Although they have been enjoying a spike in popularity throughout recent years, pawn shops are by no means new additions to society. These shops have a long and rich history that goes back thousands of years. Feel free to keep reading if you are interested in looking back at the history of pawn shops.

Ancient Origins

Pawning belongings in exchange for loans is an ancient practice that dates back to ancient China. These pawn shops were different in that they were much more lenient than pawn shops of today; individuals could take several years to pay off their loans and enjoy minimal interest rates the entire time. Pawning was also popular during the European Middle Ages and has been practiced by all kinds of people, from peasants to nobles. Pawnbrokers even received official endorsement from the church in the sixteenth century.

Pawn Symbol

Pawn shops represent themselves and their industry with a specific symbol: three golden balls hanging from a bar. Although there is no definitive proof as to how this symbol came about, there are a few prevalent theories and myths. Pawning in Italy was once referred to as Lombard banking because of its occurrence in the province of Lombardy. Lombard merchants would hang these gold spheres outside of their homes to represent their business. Another legend claims that the three golden spheres represent bags of gold that Saint Nicholas gave to a peasant for his three daughters.

Today’s Pawn Shops

Due in part to the popularity of modern reality television, pawn shops have enjoyed a surge in popularity over the past few years. Today’s pawn shops buy and sell precious metals like gold and silver and also deal with everyday belongings with value such as televisions and watches.

Would you like to learn more about the history of pawn shops? Start by contacting Gem Pawnbrokers or visiting our website. We are a NYC pawnbroker service that offers cash for gold and many other pawn services. Feel free to give us a call at 718-619-4830 to find out more about what we can do for you.

Factors That Help Determine the Price of Gold

Gold and other precious metals can make for excellent investments, but it is helpful to understand the way the market works before diving in. You will feel more confident walking into a pawn shop armed with knowledge about the various elements that influence the value of these metals. Continue on for a closer look at the factors that help determine the price of gold.

Supply and Demand

People typically attach value to rarity; the more difficult something is to find, the more valuable it becomes; this then causes its price to increase. Gold is no exception to this rule. When the demand for gold increases and the supply decreases, you can expect gold to become more expensive. The price of gold will decrease when the tide shifts in the opposite direction. Jewelry and industry uses may contribute to a higher demand, especially in countries where gold jewelry is particularly favored.

The U.S. Dollar

Although different countries often stick to their own currencies, the United States dollar is frequently used in international trades. This is important with regards to the price of gold because the two entities are linked. When the U.S. dollar loses strength, the price of gold tends to increase. On the other hand, the price of gold will decrease when the U.S. dollar index rises. It is also worth noting that certain individuals take the opportunity to buy gold while the U.S. dollar is strong.

Global Uncertainty

In today’s chaotic world, people need certainty. The value of gold tends to remain stable even when the price fluctuates, which makes it a desirable commodity during times of crisis. The price of gold may increase when the stability of a certain country or region comes into question.

For more information about the factors that help determine the price of gold, call Gem Pawnbrokers at 718-596-5626. We are a pawn shop in NYC that specializes in diamond and gold buying. If you are looking for a trustworthy pawn broker in the area, feel free to visit our website or stop in and meet with us for more information today.

What to Bring to the Pawn Shop

If you need cash and have something of value, bring it into your local pawn shop. It is important, however, to make sure it is actually valuable. Watch this video to find out what to bring to the pawn shop.

When you bring something to a pawn shop, it should be something worth buying. If the shop accepts your item and offers you a loan, they will aim to resell the item if you do not repay the loan. This means that the item you use as collateral must be valuable to the general public. Bring in digital TVs or lightly used watches, not broken camcorders or things you just don’t want.

Gem Pawnbrokers is a NYC pawn shop that offers a variety of quality pawn services. We specialize in watch, gold, and jewelry buying. If you are looking for a pawn broker in your area, call us at 718-596-5626 or visit our website.


The History of Gem Pawnbrokers

When you are in need of the best pawn services in NYC, be sure to look no further than Gem Pawnbrokers. For nearly seven decades, we have provided our satisfied customers with the best pawning services in New York City. Our company can trace its history back to 1947, when the first Gem Pawnbrokers location was started by Martin Kaminsky. As the popularity and reputation of Gem grew, the business eventually expanded to include no fewer than 27 locations across New York City. Today, our family owned and operated business proudly offers top quality pawn broking services.

For more information about the benefits of doing business with Gem Pawnbrokers, give our NYC location a call at (718) 596-5626. Our pawn brokers specialize in gold buying and estate buying, and we will give you a great price for your items. We look forward to providing you with a terrific pawn shop experience.

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