When you want to purchase, sell, or take out a short-term loan on personal property, you might want to consider visiting a pawn shop. These local businesses offer service and value to their communities and help you find the best deal possible. Here are a few do's and don'ts to help you prepare for your visit. 

Do:

Know the value of what you sell or pawn.

When selling or pawning your diamonds, gold jewelry, or coins, bring as much information as possible about the pieces that you can find. Know their manufacturer, history, original purchase price, estimated current market value, and karat weight. This information gives you the confidence to state an accurate price for the transaction. You will be in a good position to obtain the best deal for your pawn shop loan or sale.  

Protect your pawn ticket.

If you receive a loan, the broker will give you cash and a pawn shop ticket. The document tells you when the loan payment is due, the interest rate, and describes the item.  Keep the ticket in a safe place. For added protection, use your smartphone to scan or photograph the receipt, and send yourself an email of the document.  

Don't:

Pay full price.

Pawn shops sell high-value pieces, including diamonds and watches. If you are looking for a particular item, find out before you shop what the item is worth and the typical cost if purchased new. When you know the full retail price, you can negotiate well and avoid paying too much. 

Be afraid to ask questions.

Before you buy an item, gather as much information as possible about it. Don't hesitate to ask the pawn shop broker or staff member questions, including about any warranty. Request to inspect the item and ensure it works. 

To buy, sell, or pawn valuable items, turn to American Trading Company in Cincinnati, OH. This family-owned pawn shop offers more than 50 years of experience in the industry and provides professional evaluations of gems, gold, rare coins, and firearms. The staff is known for honest, friendly service. For more about their inventory and what they accept, visit them online. Call (513) 661-3633 to ask questions about selling gems.