The pawn industry is huge–
its annual revenue is over $6 billion. That’s because almost every American has found themselves in need of some quick cash at one time or another.
If you’re having liquidity issues, borrowing money from friends and family is usually not enjoyable. It can be embarrassing and even lead to conflict. Getting a loan from the bank isn’t always an option either.
Why not just sell some of your own stuff? With all the money circulating in the pawn industry, you know you can get a good chunk of quick cash.
The question is, what are the best things to pawn? Check out this guide to learn more.
1. Precious Gems
When you think of royalty, you think of precious gems. Crowns, scepters, goblets, and thrones are always adorned with countless gems of every color.
Naturally, pawn shop owners are quick to buy up precious gems, especially diamonds. They are natural resources, and thus are not as easily affected by supply and demand. There’s no factory in China churning out diamonds for pennies to undercut the competition.
The easiest way to pawn your precious gems is to take a close look at your jewelry. These items often contain precious gems.
2. Precious Metals
As inflation rises, the price of gold skyrockets. Gold is not only a great investment but can be promptly sold for cash if you’re ever in a pinch.
Obviously, gold is not the only precious metal on the market. You can also pawn silver and platinum for hefty chunks of change. Your local pawn shop owner will scramble to collect these valuable metals from you.
Like precious gems, precious metals are in high demand. You can also look to your jewelry collection for anything made from a precious metal.
Pawn shop owners in America must sell what Americans want to buy if they want to remain in business. Many times, this means that they must stock guns.
People looking to purchase firearms on a budget will look in their local pawn shops. Therefore, pawnshop owners are eager to buy guns from people who need some fast cash. Some firearms can fetch a pretty penny, too.
In 2018, there’s no end to the list of electronics at your disposal. You can pawn anything from your e-reader, mp3 device, video game console, smartphone, laptop, desktop, or camera.
Unfortunately, because electronics have become so commonplace, you won’t get much cash in return. The exception is if you’ve got some of the newer and more expensive devices.
It may surprise you, but a nice watch can sometimes fetch more than electronics. This is especially true if it’s made of a precious metal or has some precious gems on it.
If you’ve got any old watches lying around that you never wear, add them to your list of pawn items.
The Best Things to Pawn
When in need of some quick cash and searching your home for the best things to pawn, keep this list in mind. These are the items pawn shop owners drool over!
If you’re looking for more tips and tricks within this multi-billion dollar industry, make sure to check out our recent blog posts.