Pawn FAQs

Pawnshops offer consumers a quick, convenient and confidential way to borrow money, and help millions of Americans meet their financial needs every year. Gateway Jewelry & Pawn offers short-term cash loans without credit checks or legal consequences if the loan is not repaid. In the United States, pawnshops are regulated by the state and laws vary state by state.

The Pawn Process Made Simple:
  1. You bring in an item of value.
  2. Together, we agree on a loan amount for that item.
  3. We loan you cash, and you sign the pawn contract.
  4. You come back and pay us the loan amount plus a fee.
  5. You get your valuables back with no hassle.
  6. If you decide you can’t pick up the item for any reason, simply do nothing.

What is a pawn?

A pawn is another term for a collateral loan. A customer is loaned money in exchange for personal property that will be stored in the Pawnbroker’s possession until the customer redeems the merchandise according to the agreed upon terms, or the pawn contract defaults. If the customer fails to return after a specified time, the broker has the option to sell the item.

How do you know how much to loan?

At Gateway Jewelry & Pawn, we generally loan around 1/3 of the item’s current retail value, sometimes more or less depending on the demand and the condition of the item. Items that are in high demand and can be sold easily will usually have a higher loan value, such as: Gold, Diamonds, Video Game Systems (Newer Models), Power Tools, TVs, Firearms, etc.

Can I just sell the item outright?

Yes, if you are sure that you don’t want your item back we are happy to buy the item from you. You may even be given a higher seller’s price for a high demand item that could be resold quickly.

The Pawn Process Made Simple:
  1. You bring in an item of value.
  2. Together, we agree on a loan amount for that item.
  3. We loan you cash, and you sign the pawn contract.
  4. You come back and pay us the loan amount plus a fee.
  5. You get your valuables back with no hassle.
  6. If you decide you can’t pick up the item for any reason, simply do nothing.

How do you know the items work?

All items that we buy or pawn must be tested before a loan is made. Every effort is made to ensure that it works properly. If we can’t test it, we don’t take it.

What do I need to pawn an item?

State law requires that each loan customer present a valid government identification card and sign a loan agreement. You will also need to bring any accessories that go with your pawned item such as: remote controls, power cords, battery chargers, etc.

What items do you loan money on?

We basically loan money on most items of value. The following is a list of SOME of our most popular items that customers have pawned & sold.

Jewelry

Diamonds, Gold, Silver, & Platinum
Must be authentic and not plated (if you are not sure, just bring it in and we will be happy to test it for you).

Items include: Rings, class rings, necklaces, bracelets, charms, pins, pendants, earrings (pairs & singles), body jewelry, watches, men’s jewelry, etc. We also take broken and scrap items.

Bullion

Gold and silver coins, gold bars, dental gold, gold medals, etc.

Weapons

Handguns, rifles, shotguns, paintball guns, crossbows, knives, swords, etc.

All firearms must be in working order. If they take a magazine, it must be provided as well.

Tools & Equipment

Hand tools, air tools, power tools, compressors, ladders, drywall tools, carpet tools, toolboxes, welders, pressure washers, mowers, chainsaws, weedeaters, tillers, generators, space heaters, air conditioners, etc.

Tools must be American made and/or of a quality make, such as Craftsman, Snap On, MAC, Milwaukee, Makita, Porter Cable, DeWalt, Bosch, and other QUALITY makes. Rechargeable tools must have batteries and chargers. Some items are only accepted on a seasonal basis.

Audio/Visual

TVs (must have remote and must not be more than 5 years old), DVD players, digital cameras and camcorders (must have charger), home & portable stereos, iPods & MP3 Players, etc.

Car Stereos are not accepted at Gateway Jewelry & Pawn.

Musical Instruments

Guitars, banjos, trumpets, violins, flutes, drums, clarinets, saxophones, keyboards, amps, microphones, etc. We prefer that instruments have cases.

Video Games

Nintendo: Wii, GameCube, 64, DS, GameBoy SP and most past Nintendo systems.
Sony: Playstation 1,2, 3, and PSP.
Microsoft: Xbox and Xbox 360.

Computers

Newer model desktops and laptops that include: Pentium 4 equivalent processors, Windows XP or newer operating system, and LCD Flat Screen Monitor (any size accepted).

Vehicles

Four-wheelers (ATVs), go carts, small boats, etc.

We currently are NOT loaning on car titles.

Other

Binoculars, fishing tackle, major brand golf clubs, DVD movies, advanced calculators, mini refrigerators, vacuum cleaners, and many more items. If you don’t see your item on this list, just ask us what we accept!