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Pawnshops

Helping New Yorkers get back on track since 1894

The not-for-profit lending organization, The Provident Loan Society of New York has announced interest-free loans for new customers who are in need of quick cash due to these difficult times. This interest-free loan can be paid back over the course of six or four months. John Higney, President/CEO of The Provident Loan Society, […]

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Have you thought of a pawnshop yet?

Getting a short-term loan at your bank isn’t exactly a walk in the park. But when you’re making fun winter holiday plans, some extra cash always comes in handy. So, maybe it’s time to exchange that engagement ring your ex gave you for a flight to Paris. Curious? You should […]

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What to Know about the Pawnshop Experience

Customers start by pledging property as collateral, and in return, pawnbrokers lend them money. When customers pay back the loan, their collateral is returned to them. Pawn loans are typically made on gold and diamond jewelry, gold coins, fine watches, and silverware. If the customer chooses to not redeem his […]

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How Pawnshops Determine an Item’s Value – Part 1

In this blog, I’ll discuss three easy steps to estimate the value of an item to pawn: The “magnet test” to determine if the item is a precious metal Looking for metal purity markings (“k,”, “ct,” and “ster”) Weighing the item on a jewelry scale I’m often asked how Provident […]

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Why Are Millennials Turning to Payday Loans and Pawnshops?

Pawnshops and payday loans are becoming popular sources of fast cash for millennials who need instant help to pay their debts, according to a study by the Global Financial Literacy Excellence Center. Their research found that 42 percent of millennials have used alternative financial services as sources for short-term loans. Roughly 28 percent […]

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Different Types of Jewelry Appraisals – Part 3

    An estimate to replace, or replacement cost estimate, is probably the most common form of appraisal, though it is not as thoroughly researched or objective as a fair market value appraisal or an insurance appraisal. This appraisal accompanies an item of jewelry when it is purchased and is […]

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Different Types of Jewelry Appraisals – Part 2

  Insurance Appraisals These documents are used by insurance companies to determine the cost to replace a piece of jewelry or to compensate the owner in the case of loss, theft, or damage, according to the owner’s insurance plan. This type of appraisal usually considers the cost of replacing the […]

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Millennials Are Turning to Pawnshops for Loans

Pawnshops are becoming a popular source of quick cash for Millennials who don’t have access to credit or access to a bank account. A recent study by PricewaterhouseCoopers—an audit and taxing consulting company—revealed 42 percent of Millennials are turning to alternative financial services as a source for short-term loans. The […]

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How to Borrow Money from a Pawnshop

Pawning an item for quick cash is as simple as bringing your valuables into the nearest pawnshop and walking out with a cash loan. But is that the way to get the best deal? As a potential borrower, you need to do your homework on the pawnshop and the terms […]

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