Your local pawn shop is a business that sells used items at a fraction of their retail value. They also offer short-term loans to people in need of quick cash. For more than three decades, the team at the Gold & Silver Pawn has done both for their customers in Hinesville, GA. Here they share some surprising facts that you probably didn’t know about the business.

4 Interesting Facts About Pawn Shops

1. The Most Commonly Pawned Items

It’s commonly thought that electronics are the most valuable items to pawn, as they tend to be expensive. However, since new gadgets come out often, used electronics aren’t usually worth as much as you think. The most commonly pawned items are jewelry pieces. In fact, since many of these pieces have sentimental value, they’re more likely to be retrieved by their owners.

2. The Risk of Stolen Goods

The operator of a pawn shop must be careful not to accept and sell stolen items. That’s one of the reasons they are required to ask for identification and occasionally fingerprints. Additionally, they must wait a certain number of days before they can resell an item—just in case it does get reported as stolen during that time.

3. Pawn Shops Have Repeat Customers

The typical pawn shop customer is someone who needs some quick cash to pay a bill that’s already past due. They pawn an item of value, pay the bill, and work hard to earn extra money to get the item back in their possession. Pawn shops also have repeat customers, and some may even pawn the same item over and over again.

4. Small Businesses Use Them

Individuals aren’t the only people who need cash quickly. Small business owners also use pawn shops to raise funds. Whether they’re trying to make payroll or take advantage of a unique business opportunity, a pawnbroker can provide quick cash without the necessity of a credit check.

Whether you’re looking for some quick cash or the opportunity to purchase valuable items at reduced prices, the Gold & Silver Pawn offers both. Their experienced staff members can quickly appraise your items and offer you a fair price for them. They also provide pickup and delivery services to make it as easy as possible to do business with them. Visit the website or call (912) 876-6580 for more information about the pawn shop.