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Pawn Shop

A Pawn shop is a business that accepts collateral in exchange for a short term cash loan. These short term cash loans can vary from State to State. Pawn shops charge monthly interest at a percentage and usually a loan origination fee. The percent of interest your charged will vary depending on what state you’re in when you need a loan. A pawn shop is a very helpful resource for people who are strapped for cash and have no way of borrowing from a credit card or wish not to take a loan from a relative. Pawn shops will take any item of value such as TV, computer, jewelry and many other things with a value. So here is an example of a typical loan process using the state of Nevada’s guidelines and policies for Pawn Shops.

Let’s say you brought in a 14kt gold bracelet with diamonds. You paid $3000 retail for it 10 years ago but it only has an intrinsic value of $800 meaning that if it was scrapped for metal the Pawn Shop owner could melt the gold and sell the diamonds whole sale and get $800. So the Pawn Shop owner could safely offer a Loan of $700 with 13% interest and a $5 loan origination fee at 90 days. During the 90 days you have the option to redeem or renew the item with the Pawn Shop. If your money situation is still tight after the 90 days and you need a another month or so you can opt to renew the item with the Pawn Shop for another 90 days which essentially means you would pay the 90 days of interest thus far and loan origination fee of $5.

After renewing the item the loan basically starts over and the interest goes back to day one with the loan originating fee being assessed again for $5. The last and final step of the Pawn shop process is redemption or default. Redemption is exactly how it sounds. You would bring in your ticket, pay back the original loan amount and the interest accrued thus far along with the $5 loan fee. If you still cant come up with the money borrowed at the end of the 90 days and cant afford to renew you would then default on your loan and the Pawn Shop owner would then sell or scrap your item to get back his money.

A Pawn Shop would much rather have you continue to pick up your item and re-loan on it then for you to default. If you default on your loan its not the end of the world but Pawn shop owners to have a system to keep track of your loan history and will adversely affect future loans if your defaulting more then your picking up.

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LOCATION

East Flamingo

Monday – Friday: 9:30 am – 4:30 pm
Saturday and Sunday: Closed

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Really cool cats over at Nevada Coin and Jewelry. You would’ve thought that I was “Madonna” the way those guys treated me. I was so mesmerized by all of the antiques, they have in there, I believe I was there for two hours, just looking, unbelieveable! When I went in I was so hot, they offered me a cold bottle of water, how cool is that? It felt like home to me. I wanted to get a price for some old jewelry that was passed down by grandma, I was well satisfied. When I left the shop, I was singing “Money, Money, Money.

Doris

This place is definitely recommended!!! A.J. and David are amazing…very helpful and nice people at that! I would totally consider going to this place.

Bree D.

My wife cashed in some coins and we got top dollar. We have sold to others before but no more, we found a real professional store in Nevada Coin & Jewelry. “Thank You”

Steve

After visiting a couple of the “traveling gold & silver merchants” who came to Mesquite, I made a call to Nevada Coin & Jewelry in Las Vegas… David was very helpful and professional. Their prices were the best I had seen… I left very satisfied with my trip and the deals we made. I will definitely go there again.

Carol R.

Nevada Coin and Jewelry – has excellent customer service – providing las Vegas with top notch service and expertise – this is my primary coin dealers — others just can’t keep up – they are helpful and friendly – in my opinion they are the best in the south west area — so that’s my review a++++ rating – because I am a good customer – this is the best place to buy and sell gold and silver bullion.

Freddie I.

I am a brazilian and had the chance to deal with Nevada Coin. I was there to sell some gold coins and they paid me the best price I could fetch in Las Vegas. They are professional, courteous and trustworthy. Before visiting their premises I got a tentative appraisal by phone which I found reasonable. In the shop the attendant offered to approach the manager to get me a (gasp) BETTER price. Do yourself a favor and don’t bother talking to their rude and unprofessional competitors. They will treat you like a moron and quote prices accordingly. For Nevada Coin, five Stars all the way.

Guilherme

My friend and I came here to sell some coins and jewelry. We first saw Scott about some coins. He was very friendly and knew his stuff. Afterwards, he brought us over to Sheila who looked at our jewelry. She was also very nice and professional. We will definitely come back here again. GREAT PLACE!!!!

Susanne T.

We were really pleased with the help that AJ gave us concering our gold coins and watches. I don’t think we could have received a better deal anywhere. All of the personnel at Nevada Coin & Jewelry were very professional. We will recommend them to our friends.

Dean & Judy

As a first timer in selling, I was a bit apprehensive. I did not know what to expect and was a little worried about a previous reviewers comments. Yes the office was stark and clinical. The staff however, more than made up for any downfall in the decor. Very helpful, polite and understanding to any ‘silly’ questions that were asked. All in all a pleasant experience, and one that should the opportunity arise I would go through again!

Marie G.

A great selection of coins and other numismatic related material. Very professional.

Staff was friendly, knowledgeable, and responsive. Building had great security to helped me feel safe in handling my items.

This past Saturday I had the opportunity to meet the owner and team at Nevada Coin and Jewelry. I didn’t know what to expect but they made me feel both comfortable and safe. I went through my collection of jewelry, both broken pieces and things I thought were of no value at all. They took the time to explain what each carat weight was worth and they helped me sort through my items. I was amazed at what they gave me for things I would never wear or use. I would recommend you stop in and speak to them, you might be as pleasantly surprised as I was.

Suzanne P.