If I pawn a ring do you hold the item is I can get it back?

Christine Seltzer | Nov 30, 2020 | Category: Pawn shop

The Pawn & Jewelry Exchange - All questions

Address: 206 E Pittsburgh St, Greensburg, PA 15601, USA

Nix Cipher | Dec 1, 2020

Of course you will get it back,my friend "SKI" and myself have been there numerous times,very helpful,informed, & friendly staff.

The Pawn & Jewelry Exchange (Owner) | May 30, 2020

Yes! To pawn an item means to get a loan against it and get your item back. We are the only pawn shop in Westmoreland County that is regulated by PA Department of Banking. We are only permitted to charge 3% interest on all pawns. Example: You want to borrow $100, we would take your ring as collateral and every 30 days you would pay the interest, which would be $3. It is important to come in every month to make your interest payment or you will loose your item. It is a 9 month contract. At the end of the 9 months, if the item is not picked up in full, the item becomes the property of The Pawn and Jewelry Exchange. You can pick it up earlier than 9 months or even earlier than 30 days, I was just using those dates as examples. Your items are kept in a safe until you return. Give us a call or stop if you have any other questions!

Ginger F | May 30, 2020

Yes. That's why they call it pawn. You have to make sure you pay the money back within their guide lines.

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