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Wooden blocks that spell 'scam alert.'

Lessons to Learn from Pawn Shop Scammers

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Some people will try anything to save a few bucks, including trying to scam their local pawn shop. We blogged recently about the risks associated with pawning a stolen item, like inadvertently becoming involved in an active crime case. But that was about people who don’t know the origin of a product.

Consumer Fraud Is On the Rise

Scammers, on the other hand, know exactly what they’re doing. So do the pawners, which is why it is not generally a good idea to be known as an unscrupulous player in one’s local business community.

The fact is, consumer fraud is on the rise. Americans lost some $12.5 billion to fraud in 2024, according to the FTC – much of it online. But some of that trend spills out onto the counters of small neighborhood businesses, too. There are few approaches scam artists will try, and lessons can be taken from those errors, for legit customers as well as the brokers.

Pawn Shops Question Sketchy Stories

Can you imagine packaging a different product as something more valuable – passing off an older laptop as a newer one, for example? How about switching tags on an article of clothing so it appears more expensive? These methods have been tried, believe it or not, many times.

Even if the item is sealed in packaging, store workers will open the box to make sure the contents are what they purport to be. The sketchy stories some people tell aren’t fooling anyone.

How Experts Spot Counterfeit Goods

While a tourist might unwittingly buy a fake Gucci bag in Times Square, pawn brokers are more savvy when it comes to spotting counterfeit goods. You don’t have to use luxury goods to be able to detect a fake one. Some details pawn shops will look for in a supposedly valuable designer bag:

  • Stitching on the label
  • Authenticity of the logo
  • Metal features like cheap zippers and clasps
  • Quality of stitching and embossing
  • Feel and appearance of the fabric

Digital Information Will Be Verified

Millions of people receive gift cards each year on birthdays and holidays, and many of those cards get tossed even though there is money still on them. Fraudsters have figured out how to tamper with gift cards to obtain the money digitally, while the card appears to be unused.

Some pawn shops accept gift cards with cash on them, paying out a percentage of the total amount. However, they will first verify that these cards are still valid, so it’s not worth bringing one in unless you know it’s legit.

You May Be on Video

In the past, fraudsters operated under the radar more easily. Perhaps more would be deterred if they knew their face was visible on camera. It is common for pawn shops to install security cameras for a variety of reasons, such as helping identify anyone breaking the law.

Once scam artists realize they are being watched, they may be less likely to continue.

Check Your Goods Thoroughly

One thing regular consumers can do is be as thorough about verifying the value and authenticity of their goods as the stores are. Finding out where an item came from, even calling a company to check a serial number or ask for a receipt, you will be more informed about the product you hope to pawn.

Doing so gives you more bargaining power when you enter into a conversation at a pawn shop. It may also save you the trip if the item isn’t worth what you thought it was.

Fullerton Pawners Are Interested in Electronics, Precious Metals & More

Fullerton Pawners has been operating on Chicago’s north side for decades, and we have seen (and heard) it all. We are open to accepting a very wide range of goods, and are happy to help you assess the value when you come in.

Check out our services online, or call Fullerton Pawners at 773-637-9999 so we can answer your questions.

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A man and a woman facing each other. The man holds a ring in his hand.

Which Engagement Ring is Right for You?

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When choosing an engagement ring, it’s essential to understand the different styles and materials available on the market today. Whether you’re planning a surprise proposal, ring shopping together, or something in between, there’s a lot to consider before making your significant purchase. At Fullerton Pawners, we know how important this moment is for you and your partner. That’s why our friendly and experienced staff is here to help guide you through your budgetary needs, stone shape, size, setting, and quality preferences, and help you find a ring that fits your shared story.

The 4Cs: The Building Blocks of a Diamond

When shopping for a diamond, you’ll often hear people discuss the 4Cs: cut, color, clarity, and carat. These characteristics determine a diamond’s quality, value, and overall appearance. Understanding each of these four determinants will help you make an informed decision. Let’s dive into each one of them:

  • Cut: This differs from shape, referring to how well the diamond can reflect light. A well-cut diamond sparkles and refracts light more, regardless of size.
  • Color: Diamonds have a grading system. From D (colorless) to Z (light yellow or brown), the less color the stone has, the more valuable it is. Many buyers find nearly colorless diamonds beautiful enough and even more affordable than D diamonds.
  • Clarity: This measures the presence of the stone’s natural imperfections. Most are invisible and microscopic to the naked eye, so you can often save by choosing a lower clarity grade that looks flawless.
  • Carat: Carat is the weight of the diamond. The larger the stone, the bigger the price tag, but choosing the proper cut can make a smaller diamond appear bigger.

Understanding how these features affect the cost and overall look of your diamond can help you prioritize what matters most to you and your partner.

Finding the Right Diamond Shape

The shape of a diamond is one of the principal things you’ll notice. Each shape has its unique personality and look:

  • Princess: Square-cut with sharp angles that give off a modern and bold look
  • Round: Brilliant, timeless, and classic shape
  • Cushion: A Vintage, soft appeal with a romantic feel
  • Oval: Elongates the finger and delivers an elegant twist on tradition
  • Emerald: Clean and sophisticated lines, timeless

If you still need help finding the proper shape, one of our reps at Fullerton Pawners can walk you through the different styles in person so you can see firsthand what fits best.

Perfection Doesn’t Have to Break the Bank

Engagement rings tend to be an expensive purchase. But at Fullerton Pawners, we offer a wide range of quality diamonds and rings to fit any budget. Whether you’re looking to maximize sparkle under a specific price point, our team can assist you in making the smartest choice. Additionally, we encourage smart diamond shopping by educating our customers every step of the way. If you’re doing preliminary research or actively looking for the perfect stone, let us help you go through all your options correctly. Learn more about our wholesale Jewelry sale.

Why Shop with Fullerton Pawners?

You’re not just buying a ring when you come into our store. You’re getting a unique experience with one of our experts who will help you find the right ring for you. We aim to ensure you walk away with a special piece that fits your style, budget, and lifestyle. You’ll have the chance to:

  • Try on different shapes and styles
  • Compare diamonds side by side
  • Ask any questions in a no-pressure environment
  • Learn what to look for in the future

Let’s Get Started With Your Dream Diamond

Whether you’re casually browsing different options or ready to pull the trigger on your dream diamond, we’re here to make that journey as easy as possible. Contact us today at 773-637-9999 to schedule an appointment or walk in and meet one of our friendly team members to get you started on finding the right diamond for you.

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A person holding a pair of earrings in their hand.

What Happens if You Try to Pawn a Stolen Item?

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In a recent episode of “Your Friends and Neighbors” on Apple TV, a hedge fund manager tries to pawn a stolen Nautilus watch for 200 grand. The suspicious shop owner tracks him down in his swank neighborhood. When the down-on-his-luck Jon Hamm character finds her sitting in his kitchen, the message is clear to anyone watching: do not mess with shrewd pawnbrokers who don’t like liars.

Ok. In real life, most people are not (spoiler) breaking into their neighbor’s home and stumbling upon multimillion dollar watch collections. It’s more likely you have a hunch something is stolen or not legit because you acquired it through unconventional means. Either way, it is wise to reconsider pawning anything hot, as the hedge fund dude is finding out.

What happens if you try to pawn something that may have been stolen?

Do You Have the Item’s Serial Number?

Any time you are concerned about the history of an item, it helps a great deal to have some way of identifying and verifying its authenticity. Serial numbers on a range of items found at pawn shops can be used to track their origin and prevent fraud. For example:

  • Televisions
  • Computers
  • Firearms
  • Some jewelry
  • Gaming systems
  • Other electronics

Most pawnbrokers have systems for tracking the serial numbers of items they purchase. A diamond ring may have the serial number engraved or etched onto it. Additionally, some stores use web-based pawn collection and tracking software to make the whole process easier.

Some Pawn Shops Work with Police

Cops may choose to investigate a stolen item that could have ended up in a shop. If you suspect an item was the result of criminal activity, pawning it at an established business may not be a good idea, unless you want a knock on your door from someone investigating the theft. Your local pawn shop may be cooperating with the police to track it down.

Pawn Shops Keep Identifying Records of Goods – and Sellers

In the “Friends and Neighbors” scene, the first thing the shop requests is the box and papers that go with the watch. There are a few reasons these two items matter. Like a car’s title, they suggest:

  • The seller is the actual owner.
  • The watch is authentic.
  • It has been cared for well.
  • There may be an active warranty.
  • It may include defining features such as where and when it was made.

Pawn shops often record the contact details and names of people who sell them things, including those who leverage goods as loan collateral. Couple that with the serial numbers and it makes sense that law enforcement may contact them from time to time about a stolen item.

Local Laws Vary: Illinois Deters Selling Stolen Items

In Illinois, the Pawnbroker Regulation Act of 2023 states that pawnbrokers may not “knowingly or recklessly” buy or take as collateral something from anyone appearing to be intoxicated. This also goes for people who have been convicted of theft. Additionally, some counties have their own ordinances, for instance, requiring pawn shops to send in logs of transactions on electronics to assist law enforcement.

What Happens Next Depends on the Case

What happens in a given case will depend on a variety of factors: local rules, whether it was reported stolen or there is probable cause, whether police have the resources to investigate, how cooperative the store is. If the item has been sold or the case goes to trial, that means yet another hoop for the victim to jump through. In the end, there is a chance the case could lead back to whoever sold the item, however innocently.

A good pawner will tell someone who comes in with a hot smartphone to hit the bricks. A bad one might take it for a few pennies on the dollar and may even fake the paperwork to accompany it. Talk to your local pawn shop enough, and you can tell which category they’re in.

Chicagoans Trust Fullerton Pawners to Sell Legit Goods

All of this is why it’s beneficial to sellers, customers, and loanees to work with reputable shops like Fullerton Pawners. We do things by the book so you don’t need to worry about the origin of anything you are buying. As a result, we are transparent about our process and are more than happy to answer any questions about our goods.

Come in and take a look at our goods and services, check us out online, or call Fullerton Pawners any time at 773-637-9999.

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A person examining gems.

What You Should Know Before Buying Lab-Grown Diamonds

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With the rise of lab-grown diamonds, more and more people are interested in exploring this alternative to traditional mined diamonds. A lab-grown diamond is a real diamond that has been created in a controlled environment rather than extracted from the natural earth. They both have the same chemical and physical properties as the mined diamonds, but they offer buyers an ex-friendly, modern option without sacrificing quality. However, there are advantages and disadvantages of both to consider before you make your final decision.

At Fullerton Pawners, we’re dedicated to delivering the finest selection of both natural and lab-grown diamonds while also ensuring you’re fully informed about all the options. Whether you’re searching for an anniversary gift, engagement ring, or something special just for you, our team of expert gemologists is ready to help you make the best choice for your needs.

Pros of Lab-Grown Diamonds

  1. Ethical Sourcing: Traditional diamond mining has often been linked to unethical practices, including conflict diamonds and poor working conditions. Due to their lab-setting production, lab-grown diamonds have been able to eliminate these common concerns, ensuring an ethically sourced conflict-free stone.
  2. Cost-Effective: One of the most significant benefits of lab-grown diamonds is the economical options available to customers. On average, lab-grown diamonds cost 40% less than natural diamonds of the same properties. For those looking to maximize value, lab-grown diamonds might be the right choice for you.
  3. Environmentally Friendly: Lab-grown diamonds are often considered more eco-friendly than natural stones since they avoid the environmentally hard traditional mining causes. Mining leads to habitat pollution and destruction, while lab-grown diamonds are created with less environmental impact. If sustainability is a top priority for you, lab-grown is the better fit for you.
  4. Same Physical Properties as Natural Stones: Lab-grown diamonds are virtually indistinguishable from their mined counterparts. Their clarity, brilliance, and chemical composition are the same, and even some professional gemologists often require specialized equipment to see the differences.

Cons of Lab-Grown Diamonds

  1. Lower Resale Value: If you’re searching for a diamond and want to invest wisely, a natural diamond may be a better option that will hold its value over time.
  2. Perceived Prestige: Yes, lab-grown diamonds are real diamonds, but some buyers may perceive natural diamonds as more prestigious. If sentimental or historical value is important to you, a mined diamond will carry more significance and meaning for you.
  3. Energy Usage: Although lab-grown diamonds are viewed as environmentally friendly, the process of creating them can take a lot of energy to produce. Depending on the energy source, lab-grown diamonds may not always be as green as they look.
  4. Limited Access to Unique Stones: Lab-grown diamonds are very consistent in quality, but for those looking for unique stones, such as antique or rare diamonds, lab-grown options may not be able to offer that one-of-a-kind appeal you’re looking for.

Helping to Choose the Perfect Diamond

Whether you’re swaying toward a natural diamond or lab-grown alternative, Fullerton Pawners is here to guide you with the knowledge needed to make the best decision for you. We offer a large selection of both natural and lab-grown diamonds, allowing you to choose the perfect stone that fits your exact needs, taste, values, and budget. Our team of experienced gemologists is always available to answer any questions, help you understand the benefits of each option, and simplify the diamond purchasing process.

Still unsure of what path to take? Visit our store, and one of our team members will be happy to help you out in person. You’ll be able to explore our collection and go through our options with one of our knowledgeable experts. For additional information, give us a call at (773) 637-9999 – we’re more than happy to get you started on the right diamond choice for you!

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A person holding various loose diamonds.

The Truth About Lab-Grown Diamonds: What Retailers Don’t Tell You

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When you begin shopping for a diamond, it’s possible you come across the option of purchasing a lab-grown diamond. At first glance, these stones look like the real deal. They sparkle just as brightly and are often times offered at a lower price point than their natural counterpoints. However, the largest issue with lab-grown diamonds is that many retailers sell them to customers as if they have the same properties as natural diamonds without fully highlighting the important differences.

So, how do you begin to understand if you’re getting what you’re paying for? Let’s explore the world of diamonds, both natural and lab-grown, and inform you so you can make the best decision for your needs and budget.

What Is A Lab-Grown Diamond?

As the name suggests, lab-grown diamonds are created in a laboratory using high-tech processes that mimic the conditions under which natural diamonds are created. They are made with carbon and have the same physical properties as natural diamonds. Under the untrained eye, and even at times under a microscope, it’s nearly impossible to tell the difference from natural stones. In fact, some lab-grown diamonds have passed a diamond tester, which checks for a stone’s thermal conductivity. While lab-grown diamonds may look exactly the same as natural diamonds, there are important differences, especially when it comes to value, long-term significance, and origin.

The Value Difference Between Natural & Lab-Grown

One of the main differences between natural and lab-grown diamonds is the value retention. Natural diamonds are formed over millions of years deep under the Earth, making them a rarity which gives them lasting value. As time passes, natural diamonds generally keep or increase their value, especially higher-quality stones with unique characteristics.

On the other hand, lab-grown diamonds are not of the same rarity. They are produced at a much faster rate under controlled conditions, making them more abundant on the market. Because of these factors, lab-grown diamonds often lose their value over time and fetch a much lower price in the resale market compared to their natural counterparts. If you’re purchasing a diamond as an investment to become a family heirloom, a natural diamond might be the better avenue to take in the long run.

The Misleading Reality of Lab-Grown Diamonds

Unfortunately, not all retailers are honest about the differences between lab-grown and natural diamonds. Many may market lab-grown stones as “real diamonds” without making the clear distinction that they are, in fact, lab-created. This leads to confusion for buyers who think they are purchasing a natural stone and are left with the reality that their diamond was grown in a lab.

Avoid getting fooled by working with a reputable jeweler who is transparent about their inventory. A trustworthy retailer will explain clearly the differences between the natural and lab-grown diamonds they offer, helping you choose which option is best for your budget, needs, and long-term goals with the stone.

Which Diamond Should You Choose?

The choice between natural and lab-grown diamonds depends on your personal priorities and preferences as a buyer. If you’re in the market for a more affordable option and are less concerned with the resale value, a lab-grown diamond might be the fit for you. Additionally, lab-grown diamonds have a lower environmental impact, which is an important factor for many eco-conscious shoppers.

On the other side of the spectrum, if you’re looking for a stone with rarity and lasting value, a natural diamond is the way to go. Natural diamonds have a unique history of their creation and hold financial and sentimental significance that stand the test of time.

Chat With A Fullerton Jeweler Today

When shopping for the right diamond for you, it’s crucial to work with a trusted jeweler. A reputable jeweler is there for you to guide you through the pros and cons of both natural and lab-grown diamonds, helping you make a choice that aligns best with your goals and values.

Ready to explore your options? Call 773-637-9999 to set up an appointment with one of our trusted Fullerton jewelers today. Let us assist you in choosing the perfect diamond for your special occasion.

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A person examining a ring.

Silver vs Platinum: Metals Other Than Gold You Can Pawn

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Gold isn’t the only precious metal in demand at pawn shops throughout Chicago. If you have decorative cutlery made of silver at home or an eye-catching piece of platinum jewelry, you might be able to cash those items in fairly easily. Or you could use them as leverage next time you need a loan.

Why Pawn Shops Want Your Silver

People’s love of all things silver has a long history, making it a natural precious metal to exchange for cash (or hold onto, as the case may be). Like gold, it isn’t just beautiful but also has a solid reputation in monetary markets, which is part of its allure for pawners.

This underappreciated precious metal is used in so many ways that it might be lurking in your home somewhere without your knowledge. It’s a popular feature of lots of things other than jewelry. It can be found on the toes of boots and in electronics, batteries, car parts, and decorative knick-knacks. It’s also been used to make pretty much every type of utensil found in kitchens and dining rooms everywhere.

Precious Metal Value Depends on Beauty, Weight & Other Factors

Silver has a timeless beauty that sells, which is why so many people adorn themselves with it in all of its forms. But just like other precious metals, your metal item’s dollar value could be based on a few different factors:

  1. Purity. What variety of silver is the item you want to sell? For example, sterling silver is made up of 92.5 percent silver, making it one of the more valuable, in-demand types of silver there is.
  2. Weight. The amount of silver in an item is also determined by its weight, thus bringing people more dollars for heavier items.
  3. Market demand. How much the shop believes it can make on a given day is yet another consideration.
  4. Its uniqueness. A one-of-a-kind necklace might be easier to sell than something more generic.
  5. Other variables. Social, political and economic factors can all impact consumers’ willingness to buy a given item, impacting how much money you may get for it.

Platinum Jewelry Is More Rare – Also More Valuable Than Silver

It’s less likely that you have a jewelry box full of platinum goods – but pawn shops are still interested in this highly valuable precious metal. Because it is less malleable than metals like silver and gold, craft jewelers don’t tend to use it as much. So while it’s more of a niche market compared to silver, its rarity adds to its appeal.

But again, what a given pawn shop might give you for your platinum piece of jewelry – or how much it will provide in collateral – depends both on its value and how much the broker wants it.

Research the Value of Your Platinum or Silver Item

Prospective sellers are always encouraged to do their own research before attempting to sell an item. Pawn shops are usually willing to take a look at potentially valuable products that come through their doors. One stop on your research journey should be Fullerton Pawners in Chicago. We have a history of building relationships with our neighbors, who buy and sell all kinds of precious metal goods at our North Side store.

Bring Your Precious Metals to Fullerton Pawners in Chicago

At Fullerton Pawners, our team is always interested in checking out unique precious metal items, particularly if our customers are interested in selling them. But we provide many other services, too, like assisting with broken clasps and helping to restart antique watches.

What else we do:

  • Specialize in antique assessments
  • Repair your jewelry
  • Fix old watches
  • Bring computers back to life
  • Offer free appraisals
  • Give you our honest, unvarnished opinions

Check out Fullerton Pawners online to find out more – or call us at 773-637-9999 with any questions you have about precious metals!

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A pair of gold rings.

Why Is Gold So Popular at Pawn Shops?

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Despite its occasional swing in value either direction, the stability of gold makes it one of the most popular commodities discovered at, and sold to, pawn shops everywhere. It is fairly abundant in various forms around the globe, which means there’s a significant chance you may even have a bit of it in your home in one form or another.

For those wondering what makes this particular precious metal as popular as it is, there is more than one answer.

There’s a lot of Gold in the World – in Many Forms

According to the US government, some 187,000 metric tons – over 412,264,430 pounds – have been mined over the centuries and molded into everything from ancient artifacts and coins to modern jewelry and wiring in electronics.

While most of it exists in other countries (as well as in underground reserves), gold remains in demand at pawn shops like Fullerton Pawners. If you’re in need of quick cash or a small loan, a vintage gold watch, broach or ring might be your best bet to address that need.

The Comparatively Stable Value of Gold

Unlike the scores of currencies around the planet, the value of gold is rather stable. We sometimes hear of a sudden drop in the value of a foreign currency after something like a political election. This occurred recently with the peso in Argentina, which was devalued by over 50%, seemingly overnight.

In times of economic uncertainty, people want assets that are not just stable and valuable but aren’t tied to their currency. This mode of thinking explains why gold has reached its height during recessions in this country, including the most recent one. In these times, its value is considered reliable compared with the dollar, particularly when markets appear unstable.

Its Durability and Uniquely Beautiful Appearance

Have you ever noticed that gold is able to maintain that gorgeous, golden sheen, despite sitting at the bottom of a jewelry box for years (or several millennia after its use in ancient Egypt)? Meanwhile, the change in your wallet will tarnish eventually, just like the silver necklace around your neck. Iron is strong and useful, but it rusts easily, as well.

Simply put, many of the metals we are familiar with, such as copper and silver, contain components that will soon oxidize if exposed to humidity and other elements in the environment.

Gold Doesn’t Rust or Tarnish

Some people like the look of tarnished metal objects such as the oxidized copper surface of the Statue of Liberty. This layer of corrosion can be cleared away, but it is a process that reduces the value of certain kinds of metal. Meanwhile, the stability of a substance like gold can still correlate with how much it is worth in monetary markets as well as in the world of pawning.

Gold is Highly Malleable and Conductive in Electronics

The fact that gold is one of the softer metals makes it highly malleable, which has also contributed to its appeal. This may not mean much to you, but there are people who will extract it out of objects so they can turn it into something else – or bring it to their local pawn shop.

One gold enthusiast did just that when he went in search of gold nuggets and melted them down at home. He weighed the resulting amounts and determined he could get some decent cash for his efforts (don’t try this at home unless you are set up like a metallurgical shop).

So, yes, gold is unique. Its conductivity makes it very useful in electronics – another common and in-demand item found at pawn shops.

Check Out the Goods at Fullerton Pawners on Chicago’s North Side

Fullerton Pawners has been purchasing gold and a long list of other valuable items, along with handling small loans, at our Chicago north side location for decades. We love getting first-time visitors who are curious about the wide range of services we provide.

Come check out our goods, or bring in your own, and we will answer your questions any time. Contact Fullerton Pawners online, or call us at 773-637-9999.

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A person putting away their jewelry in a jewelry box.

4 Ways to Tell Your Belonging is Ready to Pawn

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The practice of pawning may be as old as time, but if it’s new to you then you may be unsure whether you’re ready to dive in and give it a try. While a pawn shop’s primary business is generally lending money on collateral, they often let customers know if they are interested in outright buying valuables when they believe the item has significant resale value.

But sometimes the question for a potential seller becomes, are you ready to pawn something you own? Four things will lead you to your answer.

1. You’re Ready to Let Go of Your Belonging

The first sign you’re ready to pawn a watch or piece of jewelry could be an emotional one. Perhaps there is an electric guitar in the corner of your living room gathering dust that is in perfectly good shape. Then, one day, you are ready to let go and free up space in your home. You realize you can still play again, it just doesn’t have to be this specific instrument.

And just like that, you have crossed the first threshold of pawning: letting go of something in your possession that may be worth more to someone else.

2. You’ve Had It Appraised Independently

This next step requires gathering a little information. To successfully pawn a belonging, it helps to first have an idea of what that object is worth. Your local pawn shop will usually give you an estimate if they are interested, but consider looking into its value first. Unless it’s a piece of electronics whose market value is more easily understood, you can also hire a professional appraiser who specializes in the type of item you need assessed, whether it’s:

  • Art
  • Antiques
  • Gold
  • Gemstones
  • Jewelry
  • Collectibles
  • Something rare and unique

The process will likely include a detailed inspection of the object’s condition, its origin, and comparison to similar items.

3. A Pawn Shop You Trust Wants to Buy Your Item

It helps to know your wish is reciprocated. You know a pawn shop is interested because they will tell you, and there are a few ways this may go down:

  • Pawn shops signal their interest in buying something by offering an immediate, no-obligation appraisal.
  • You may notice signs posted in a nearby pawn shop.
  • There could be a running promotion that invites people to bring in high-demand goods like gold, jewelry, electronics, or designer items.
  • They may advertise that they are paying top dollar for specific items, which encourages people to bring in valuable possessions for an appraisal.

When they are interested in a certain genre – say, vintage Star Wars collectibles – they may advertise their willingness to purchase those types of items on social media. However, If you ever feel pressured to sell against your will, head for the exit.

4. The Price Is Right – Or You Just Really Need the Cash

Most of all, you need the money. Either the price is right. You’ve decided you would be lucky to score $150 for that guitar you never play. Or, something has happened in your life and you need cash soon to cover an unexpected expense. Still, think about how to respond to an offer so you’re not caught off guard. When you visit a pawn shop, the staff will often assess the item right in front of you. If you get an offer based on its market value, condition, and demand, think through the steps you can take next:

  1. Say yes enthusiastically, and walk out with the money you need.
  2. Respond with a counter offer and see where that takes you.
  3. Ask for more information (always get terms for paying back a loan).
  4. Say you will think about it, leave, and look elsewhere for a better offer.
  5. Turn them down politely, as you just realized you are not ready to say good-bye to your valuable.

Talk to Fullerton Pawners About Pawning Your Belonging

At Fullerton Pawners, we are used to speaking with people from all walks of life who have lots of questions about the goods they want to sell or use as loan collateral. There is no obligation to sell, just an opportunity to make a transaction when you’re ready. If you’re curious about the potential for selling something, let’s talk!

Contact Fullerton Pawners online, or call us at 773-637-9999 to discuss pawning an item, as well as our many other services!

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What Are Most Common Types of Small Loans?

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Most Americans take on debt at some point in their lives. They will take out a mortgage on a home, take out a college loan, or use a credit card to make their auto payments. And when it comes to consumer loans for expenses like those, folks know they will be paying off those loans for years to come.

Small loans are different. They can come from your aunt in the form of a money order or an envelope of cash (families are one of the most common sources of small cash loans), and the lender can be anyone willing to spot you the dough. But most people, if they have the choice, would prefer to keep their personal lives and their financial dealings separate if possible. It’s a big reason that so many people opt to secure loans from a nearby pawn shop they have vetted and can trust to offer a good deal on fair terms.

Personal Loans

No matter who you borrow from, you can draw up a contract that spells out the terms of the loan agreement to eliminate any misunderstandings and avoid arguments later on. With smaller loans, people often want their money in a single, lump sum, but there can be varied terms for how and when it will be paid back, usually with interest. In some cases the borrowers will be able to pay the amount back in installments over a predetermined time frame – in others, they will pay it back in full.

The Downside of Borrowing Money Against Your Credit Card

Regular people in this country take out loans for a few grand or less all the time. Doing so often makes more sense than putting those expenses on their credit cards. For one thing, it’s more simple to keep your loan separate from something that you use to shop on a regular basis. If you’re already using your credit card for groceries, gas, and other day-to-day purchases, having something on there that must be paid back soon will cause confusion for a lot of folks. More importantly, credit cards can have an APR of 25 percent or more. The last thing you want is an unnecessary expense on your card jacking up the interest you already owe.

Payday Loans

If you get a regular paycheck, payday loans are a less common source of money when you need it. These are usually structured in such a way that you are really borrowing against your future self, since the money will likely come out of your next paycheck. Payday loans have been criticized for their very high interest rates. They are also paid back in such a short time frame that they are not a realistic option for everyone needing a couple hundred bucks on short notice.

Loans from Banks and Financial Institutions

For people with good credit, getting a loan from institutions such as banks and credit unions is one of the most common sources of money when they need it. Someone who is normally a little more flush with cash and has a history with the same bank may not have any trouble taking out a small loan to pay off their wedding caterer or for a down payment on some new kitchen cabinets. For a variety of reasons, though, this avenue is not an option for everyone, either.

How Are Loans from Pawn Shop Different?

Sometimes when life throws you a curveball, you need money ASAP. You may not know people who have the money to lend – or you would rather keep your private life to yourself. Avoiding the emotional conflicts of a loan from a friend or family member is just one major benefit of a pawn shop loan.

The other is that you can borrow money against collateral you already have. You don’t need a regular paycheck or a relationship with a banking institution. You also don’t need to answer a lot of questions about your personal finance history. If you have something valuable such as a ring or piece of electronics, and you trust that you can pay the loan back on time, then you might get the deal you need to pay your bill.

Another benefit of securing smaller loans from your local pawn shop is that they may be willing to negotiate terms that match your needs. Each agreement is different. What’s important is that you get your questions answered, and that you examine the contract carefully and are confident you are doing what is right for you.

Ask Fullerton Pawners About Their Different Loan Agreements

Are you looking for a place in Chicago that can be a source of small loans when you need them? Speak with someone at Fullerton Pawners, a family-owned business with a long history serving Chicago’s north side. We also provide many other services, from making estate purchases to repairing antique watches.

Contact Fullerton Pawners online, or call us at 773-637-9999 to discuss what we can do for you this year.

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Different kinds of gold jewelry.

How Do Gold Purchases at Pawn Shops Work?

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If you’re struggling to afford the holiday gifts on your list – or have some unexpected bills to pay – you may be eyeing a gold belonging that could be pawned for cash. The idea can seem a bit strange to someone new to the world of pawning, but items containing gold are sold or used as collateral on loans every day. Your local pawn shop should be more than helpful in explaining the process to you and answering your questions, without any obligation to sell.

Whatever your plans, start by gathering information about how the process works before making any deals. Doing so will help to ascertain the value of the item, or at least get comfortable with the language you may hear when you bring it in for consideration.

What Does It Mean When Gold Is Rallying?

As you may have noticed, earlier this year there was a lot of chatter about gold “rallying” in the news. What was all the fuss about – and how might it affect your outcome as a seller?

Since the price of gold fluctuates along with most everything else, it is useful to know how the soft, malleable metal is currently valued when you head to a pawn shop. When its market price hit a high earlier in 2024, some folks were taking a second look at their antique jewelry drawer. During inflationary times, the price of gold tends to go up, and that was happening on a market level recently due to inflation.

Some of what we were hearing had more to do with the predictions of investors and concerns of people considering putting more of their investments into gold as a financial safety measure. However, the process for individuals with something to sell is the same no matter what times we’re in: investigate the current valuation of anything you are considering pawning, whether it contains gold, silver, gems, or none of the above.

Want to Pawn a Gold Belonging at a Pawn Shop?

Are you thinking of pawning something that is either partially or entirely made of gold? The pawning process couldn’t be more simple:

Step 1: Make sure your possession is truly made of gold.

One sign is the test of time, as gold doesn’t corrode or become tarnished like an imitation metal would. If you’re unaware of the history of an item or want to double check, ask an experienced local pawner who you can trust.

Step 2: Bring the item to a pawn shop during business hours.

Get the deets beforehand!

Step 3: Have a conversation during which you will receive a valuation.

This is one of the biggest differences between pawning and a routine shopping experience. Neither side knows what something will sell for when you walk through the doors.

Step 4: Expect more detailed information about your goods.

When it comes to gold, the business may want to figure out the karat, a measurement of its purity that will determine the value. If so, they may want to weigh it, as well.

Step 5: Let them know if you simply wish to sell.

This process is more straightforward than a loan. They will typically examine the item to verify its authenticity and then offer you a price.

Step 6: Say you are looking for a loan.

This will lead the pawner to explain their loan terms in a clear manner you can understand.

Step 7: Prepare for negotiation.

Some pawners are willing to negotiate a price with you. Others may want to stick with their original offer. Just know that you have more power on your end if you are in possession of something the store really wants, and may be able to convince them to give you a better deal.

Step 8: Walk out the door with more money and a good feeling about your transaction.

Either you will need to repay the loan within a given time frame, or you have said goodbye to your gold. If you took out a loan, make a note of the maturity date so you can pay it back in time without added interest.

Bring Your Gold Items to Fullerton Pawners on Chicago’s North Side

Interested in pawning gold or something else? Fullerton Pawners is interested in gold, silver, precious gems, and a whole range of valuables you may wish to sell. Contact Fullerton Pawners by calling 773-637-9999 and get answers to all of your pawning-related questions!

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Various gift boxes.

Happy Holidays! Stuffed Bobcats, Gangster Artwork, & Other Rarities People Can Find at Pawn Shops

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In recent years, high prices have brought out the savvy shopper in just about everyone. That trend has drawn more people to pawn shops – especially around the holidays, when people are relying on good deals so they can get something for everyone on their gift list. It is where people bring in rare, high-quality items you’re not going to find at any big box store.

To spot the perfect gift, all you need is an open mind and a willingness to do a bit of browsing for those affordable, one-of-a-kind holiday presents.

Memorable Gift Ideas You Won’t Find Anywhere Else

The rare things you can discover at pawn shops may not be on your shopping list, unless you were planning to find a stuffed bobcat for your uncle, which we think was the highlight of one holiday pawn shop video. If someone’s goal was to give something memorable – mission accomplished!

The point is, instead of making a beeline to predictable store items, we recommend browsing and seeing what catches your eye. It’s how you’ll end up offering gifts that are truly memorable and your loved ones won’t be getting from anyone else.

Low-Priced Electronics Are Great – So Are Crafts, Artwork, and Cool Home Decor

Pawn shops are great for flat screen tvs, laptops, and a whole array of goods you would find at higher prices if you were buying them brand new. But have you ever taken a closer look at some of the quirkier items? If not, ‘tis the season to start. By all means, head to the electric guitar section. But spend a few extra minutes to examine the interesting artwork, the crafty items, the colorful lamp that has your mom’s name written all over it.

Nostalgic Pop Culture Items

We knew 70s and 80s kids would love the 1977 R2D2 cookie jar we once came across. At Chicago’s Fullerton Pawners, we’re always on the lookout for fun, nostalgic discoveries. Know any movie buffs? We once sold an original painting created and signed by famed gangster Henry Hill, certificate included. He was played by actor Ray Liota in the movie Goodfellas, and yet his artwork ended up in our North Side pawn shop. Go figure!

If someone you know has a taste for kitschy items that take them back in time, a pawn shop isn’t a bad place to start.

Rare and Quirky Valuables for the Eclectic Person in Your Family

Do you have a friend or family member who can’t resist a quirky find? Some of those rarities found at pawn shops can be surprisingly valuable. There was even a Pawn Star episode about mistakes and misprints. A thirty dollar bill. A misprinted Eisenhower stamp. Even an erroneous Pokemon card, all turned out to be worth more than the owner imagined.

What You Won’t Find at Pawn Shops: Fake Sales and Bogus Markdowns

There’s another allure of pawn shops that you won’t find at big box stores. Have you ever gotten sucked into a store sale but still ended up spending hundreds of dollars? Retailers are notorious for marking prices up before goods go on sale. This tactic leads to fake markdowns and gets gullible customers to overpay.

But guess what: these bogus deals are even more prevalent around the holidays!

If you want to feel more in control of your holiday spending, head for a trustworthy pawn shop that is known for stocking its shelves with cool, low-priced stuff you won’t find anywhere else.

For Best Deals, Do Black Friday & Cyber Monday Shopping at Fullerton Pawners in Chicago

Skip the usual Black Friday and Cyber Monday “sales” that will only deplete your savings. Instead, head off the beaten path to Fullerton Pawners, where you’re sure to find cool and unique items without the retail price tags.

Come to Fullerton Pawners and check out all of the rare things we have to offer. Call 773-637-9999 if you have any questions!

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Cash on top of an open white envelope.

Tired of High Prices? Here’s How a Pawn Shop Can Help

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Inflation may be down, but prices still seem high to a lot of Americans. If you feel like you’re spending too much on, well, a lot of things, you’re not alone. According to Bankrate, prices of basic goods are still 21.2% higher than they were four years ago – the reason more people are making use of their local pawn shops.

If you’re looking for ways to offset the crazy price of meat, milk and eggs in your neighborhood, take a moment to consider the various ways that a trustworthy and reliable pawn shop might be able to aid your financial situation.

Pawn Shops Are Helping Americans Access Cash When They Need It

Let’s say you inherited a coin collection but were never interested in coins, so they sat in a drawer for years. Until the day your car dies or work dries up, and you’re not sure whether you can cover this month’s rent. You get in touch with your local pawner to assess their worth, bring them in, and watch as the person sorts through the different kinds of coins, assesses their value, and explains the differences so that you can understand. These are signs you’ve found someone you can trust.

Things to look for in a pawner:

  • Educational. They’re good at explaining unfamiliar information.
  • Show proof of resale values. They have charts that demonstrate where they source the market value of items.
  • Offer good deals. They might add a premium to assess the value of items, but it’s still a win-win for both sides in the transaction.
  • Patience with customers. You want to work with a businessperson who is patient and accessible, not someone who talks down to you or pressures you to cave to their demands.

Fast Cash Payments and Short-Term Loans Help Pay for Unexpected Expenses

If that antique watch you’re thinking of selling might have a significant resale value, a pawn shop is probably the quickest way to get some much-needed cash in hand. Pawning has done just that for countless Americans in recent years, when prices strained their ability to cover medical expenses and other unexpected bills. During the most recent period of inflation, the pawning industry saw a spike in visits from residents bringing in gently used televisions, laptops, gaming systems, and, of course, gems and jewelry to make ends meet.

For a variety of reasons, more Americans have been turning to pawn shops to help pay their bills. Reports show that over half (56 percent) of people in the U.S. would struggle to afford a $1,000 medical bill if they had to. For those folks, it can be a relief to know there may be an alternative to bank loans (which require a lot of personal information) and uncomfortable conversations with family members. It doesn’t matter whether the item in question is new or was purchased long ago. If you think something of yours made of precious metal would bring in a favorable amount in today’s market, and you need the money soon, then it is worth seeing what you can get at your local pawn shop.

A Great Alternative for Low-Cost Goods

The other reason families come to pawn shops in hard times? Great deals on goods, of course. If your kid needs a laptop for school, why pay full price when you can find something that operates fine for half the price? What makes computers so expensive lately is the bandwidth they provide for things like gaming and web design, capabilities that kids don’t need when they head to school.

Clothing, purses, guitars and other musical instruments also cost a pretty penny these days. So why pay full price? When you save a little cash here and there, it eventually adds up.

Chicago North Side’s Fullerton Pawners Helps Residents Save Money on Deals

We can’t offer you cheap produce or a better mortgage deal. But you might be surprised at what Fulltertion Pawners has stored within our walls. Make a habit of stopping by to see what we have. Inventory is changing all the time. Plus, we’re really friendly and like to hear from Chicagoans and other nearby residents so we know what it is you would like to see on our shelves.

Contact Fullerton Pawners online or call us at 773-637-9999 to get your questions answered today!

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