A pawn shop is a state-licensed and regulated business offering collateral pawns from $10 to $100,000 to its customers. In addition to pawns, a pawn shop will also purchase and sell items of value.

A pawn is a 30-day agreement using your collateral to receive money that can be renewed on a monthly basis by paying the monthly service fee. Just remember, the service fee does not pay down the principal, only extends the pawn for an additional 30 days.  

Example:

Let's just say you borrow $100 on your jewelry. At the end of 30 days, you have 3 options. 1. You can come in and pay the principal amount plus the service fee to pick your items up (redeem). 2. You can pay the service fee due to extend your pawn for another 30 days. 3. You don't have to do anything. If you choose not to make the service fee payment or redeem your item by the end of 30 days, by law, the pawn is automatically extended by an additional 30 days. We do not charge any 'late fees'. However, the service fees do accumulate if not paid. If no payment has been made within 60 days and the item is not redeemed, then the pawn defaults and the collateral becomes the property of the pawnshop.

We accept most jewelry, watches, diamonds, coins, newer electronics, musical instruments, quality tools, antiques, and collectibles. We do specialize in jewelry (gold, silver, or platinum), loose diamonds, coins (gold, silver, or platinum), gold bars, silver bars, broken or scrap jewelry (gold, silver, or platinum), scrap dental gold, gold and sterling flatware or holloware, and WWII memorabilia.

Yes, Pawnbrokers are governed by all major federal laws that apply to entities designated as financial institutions. The federal laws that regulate the pawn industry are Patriot Act, Truth in Lending Act, Equal Credit Opportunity Act, as well as Data Privacy and Safeguard of consumer information as part of the Federal Trade Commission (FTC) Rules. In addition, states have regulated the pawn industry for decades, and most pawnbrokers are licensed and regulated by local authorities.

Most banks will not advance you small amounts of money. But, even if you only need $10, we can help you. Pawns do not affect your credit. We offer a quick, convenient, safe, and confidential way to advance money on items you already own. A short-term cash need can be met with no credit check and no obligation to repay. 

Some advantages to pawning are:

• It is hassle-free.
• Immediate cash payments.
• No credit check or reporting.
• You retain ownership of your item while it is in pawn.
• If the pawn defaults, nothing is reported to any credit agency or sent to your house.

We guarantee that we will pawn the most that we can on your item. However, pawn amounts vary according to the resale value of the item. Your pawn amount will be determined according to many factors, including the current market value of the item on a used market, demand, and condition of the item, just to name a few.

We base the value of the item on the current used market value, its current condition, and the ability to sell the item. Pawnbrokers use research tools that they have at their disposal to determine an item's worth and get you the most money for the item. The appraisal process varies depending on the type of item. For example: Jewelry is evaluated differently than a PS5 console. All items that pawn shops buy or pawn are tested to ensure that it works properly.

According to the State of Illinois, less than half of one percent of all pawned merchandise is identified as stolen goods. That's because customers must provide valid identification, we take a picture of them, we take a picture of the item they are bringing in. All Pawn/Buy information is transmitted daily to law enforcement, which dramatically decreases the likelihood of a thief bringing stolen merchandise to a pawn store. We are required by State and Federal law to report every transaction to law enforcement every day.

Pawn transactions are unique in that they are the only type of transaction that requires reporting to local law enforcement agencies. In many states, this reporting is required daily and must include extremely sensitive personal information about the consumer (i.e., ethnicity, gender, address). Much of this information qualifies as "non-public personal information" under federal privacy law and is entitled to protection as such.