Never pawned an item before? Here’s how it works!

  • Customer can bring in an item to be pawned, sold or traded
  • Whatever the item happens to be, an amount will be offered for the item
  • Generally the offer will be higher if it is sold rather than pawned

For example: An item that the pawn shop has offered $100 on…

Sale: You will be selling the item to us for $100.00
Trade: $100 will be deducted off of your total purchase price.

Pawn: You will be borrowing on the item for $100. On every pawn a 5% monthly interest rate is charged plus $4 storage fee for everything that is on the pawn ticket.

All pawn loans are good for at least 90 days. Every 30 days a $9.00 interest/storage payment will be added. As long as you never get 90 days past due the item will not be forfeited. Any time a $9 payment, it will add 30 more days to your loan. An item may remain in pawn for as long as you want as long as it never goes past 90 days behind. A reminder letter will also be sent at 60 days.
Legal version:

4727.06 Interest charges.
(A) No pawnbroker shall charge, receive, or demand interest for any loan in excess of five per cent per month or fraction of a month on the unpaid principal. Interest shall be computed on a monthly basis on the amount of the principal remaining unpaid on the first day of the month and shall not be compounded.
(B) In addition to the rate of interest limitation imposed pursuant to division (A) of this section, the licensee may charge no more than:
(1) Four dollars per month or fraction of a month for all pledged articles held as security or stored for a loan, to be agreed to in writing at the time the loan is made;
(2) Four dollars plus the actual cost of shipping, when the licensee is to deliver or forward the pledged article by express or parcel post to the pledgor;
(3) Two dollars for the loss of the original statement issued to the pledgor by the licensee pursuant to section 4727.07 of the Revised Code upon redemption of the pledged articles;
(4) Two dollars for the cost of notifying a pledgor by mail that the pledged articles may be forfeited to the licensee pursuant to section 4727.11 of the Revised Code.
(C) A licensee who complies with the requirements or procedures of this state pursuant to the application of the “Brady Handgun Violence Protection Act,” 107 Stat. 1536 (1993), 18 U.S.C.A. 922 , as amended, may charge any fee the licensee is required by law to pay in order to comply with such requirements or procedures. The licensee may charge no more than two dollars for providing services in compliance with such requirements or procedures.
(D) A pledgor may pay a portion of the outstanding principal loan balance at any time. A pledgor may redeem a pawn loan at any time after seventy-two hours have passed since the pledge was made. A pledgor may not prepay interest or storage charges, except when the pledgor redeems the pledged property.
4727.11 Redemption, forfeiture of pawned property.
(A) If a pledgor fails to pay interest to a person licensed as a pawnbroker on a pawn loan for two months from the date of the loan or the date on which the last interest payment is due, the licensee shall notify the pledgor by mail, with proof of mailing, to the last place of address given by the pledgor, that unless the pledgor redeems the pledged property or pays all interest due and storage charges within thirty days from the date the notice is mailed, the pledged property shall be forfeited to the licensee. If the pledgor fails to redeem or pay all interest due and storage charges within the period specified in the notice, the licensee becomes the owner of the pledged property.
(B) In the event that any article or property is redeemed by a person other than the pledgor, the pledgor shall sign the pledgor’s copy of the statement required under section 4727.07 of the Revised Code, which copy shall be presented by the person to the licensee. The licensee shall verify the name of the person redeeming the article or property, and shall record the person’s name and driver’s license number, or other personal identification number, on the licensee’s copy of the statement, and shall require the person to sign this copy.
(C) In the event that any articles or property pledged are lost or rendered inoperable due to negligence of the licensee, the licensee shall replace the articles or property with identical articles or property, except that if the licensee cannot reasonably obtain identical articles or property, the licensee shall replace the articles or property with like articles or property.
(D) When an account is paid in full, the licensee shall return the pledged article immediately to the pledgor. In the event the pledgor sells, transfers, or assigns the pledge, the licensee shall verify the name of the person redeeming the pledge and record that person’s name, driver’s license number, and signature on the permanent copy of the statement of pledge required pursuant to section 4727.07 of the Revised Code. The licensee also shall obtain the signature of the pledgor, or other person redeeming the pledge, upon a separate record of the transaction, that acknowledges the total dollar amount paid for redemption and the date of redemption. All records shall be kept in the licensee’s place of business.

We will always treat customers with a smile and offer a fair price whether we are buying an item or selling it. Some pawn shops look down on a customer for needing to borrow money in order to get through the month. NOT US!!! 
We feel that if you never had to go to a friend or family member and ask to borrow $20 until Friday for any reason, you’ve lived a very privileged life and possibly have a butler!