Jessup Pawn

Jessup Coin Jewlery Pawn Inc.

Frequently Asked Questions

Q: [Do You Buy Broken Jewlery?]
A: [Yes! We Buy Broken Gold & Silver Jewlery.]

Q: [Can I Pawn My Broken Jewlery?]
A: [Yes! Buy or Pawn Your Broken Jewlery is Just as Good as Your Unbroken Jewlery.]

Q: [How Long is a Pawn for?]
A: [A Pawn is for 30 Days]

Q: [I've Heard a Pawn Shop has to hold my Item for 18 Days Why is This?]
A: [The first time a item is brought in Local & State laws require us to hold that item for 18 Days. After the 18 Days you may reclaim your item. If you bring that item back for another loan at a later date we are not required to hold your item so you may reclaim it any time before the 30 Days is up. Only precious metals like gold & Silver Jewlery require a 18 day hold. All Other general merchandise only requires a 10 day hold the first time that item is put up for a loan. ]

Q: [What is a Pawn?]
A: [You may not have ever been in a pawn shop or needed the service a pawn shop offers. A pawn is a collateral loan. You may go to a bank for a loan or take out a secound morgage on your home from a bank. But what if you need a smaller loan than one you would take from a bank. Or what if you can't get approval for a loan from a bank. Then your pawn shop is where you turn to. When you pawn a item your putting that item up as collateral incase you where to default on the loan, that way the pawn broker is able to sell that item and recover their loan money. When you bring in a item the pawn broker will determine the amount they are willing to loan you. You may borrow up to that amount but you are not required to borrow the whole amount. The loan is 30 days meaning you have up to 30 days to redeem the collateral you put up for the pawn. If you have not redeemed your loan before day 31 then you forefit the item, meaning it now becomes the property of the pawn broker. Now if you redeem your loan you would pay back the original loan amount and the 20% service fee with in 30 days to redeem your item. If for some reason you were unable to redeem your item with in that 30 days you may pay the 20% service charge and purchase an additional 30 days to redeem your item. You may purchase as much additional time as you need to redeem your item. ]