Many people may be hesitant to come into a pawn shop because they are unsure of how it works. Pawning your gold or other valuables is really a very easy and simple process. Just bring your gold or other valuables down to 7th Street Pawn Shop
so we can examine the item in person. If it's gold, we will test it for purity and it's weight. If it's an item such as a flat screen TV, laptop computer or firearm
we will take into consideration things like age, condition and resale value. After we examine your item, we will determine a value and price that we are authorized to pay you for your item as a buy, or lend to you using the item for collateral.You can generally get a little more cash for your item if you sell it. If you decide to sell, we will pay you cash and you are on your way! If you decide to use the item as collateral for a loan, we will lend you the money and you will have a certain amount of time to come back into the store and pay the loan back plus interest. Loans are for four months. We do give a grace period after the initial loan has expired. If you run into a hardship, we can usually work with you to extend the loan as long as you cover your interest. You are charged interest monthly until you pay your loan back in full and redeem your item. When you fail to redeem your item by paying back the original loan amount plus interest, we will resell your item. Items get resold in our show rooms, to wholesalers and retailers and to refineries. If you ever think that you're going to have trouble paying back your loan in the agreed upon time and you don't want to give up your collateral, please talk with us.