Pawn Shops in Salt Lake City – What You Need to Know


Almost anybody can have financial emergency at some time or the other. Suddenly, you may have an unforeseen expense like medical treatment, payment of school fees or paying installment for the mortgage. You will need money at a very short notice and your bankers can’t provide you the much needed cash at short notices. Under such circumstances, you may find it worthwhile to approach a few pawn shops in salt lake city and borrow money to tide over your immediate financial crisis.

In case you have not had experience of dealing with pawn shops or pawnbrokers, you would do well to familiarize with the working of this business before approaching one for borrowing funds.

What’s meant by pawn shop?

It’s a business wherein the pawn shop owner provides loans for short term against some security. Some such shops also allow you to buy or sell used or new items.

What’s the difference between a loan offered by pawn shop and payday loan?

Payday loan is a short term loan and available only to those with a proof of regular job and hence pay. If you fail to return the loan availed by a pawn shop, you simply lose claim of your item. There is no additional fee charged.

What’s the system of operating a pawn shop?  

It is very simple. You call upon a pawn shop with some item which you can offer as collateral to the pawn shop owner, who assesses its value and offers loans you cash. Generally, you get about fifty percent of the assessed worth of the offered collateral as loan. Usually, the period of loan is ninety days, though it can be extended on paying additional fees. After you return the borrowed amount and pay the chargeable fees, your collateral is given back to you. On receiving a loan, you are given a pawn ticket which has the terms of loan in writing. The information to be provided on the ticket is defined by state or local laws.

What’s the maximum amount of money offered as loan?

This varies with the slc pawn shop you may opt to patronize and what you are offering as collateral. The loan can be as small as less than a hundred dollars and may go up to thousands of dollars. It largely varies with what you offer as collateral and the deal you negotiate.

What if I fail to return the loan?

In such an eventuality, the pawn shop simply retains your collateral.

What items can one offer as collateral for availing loan from a pawn shop?

You can procure loan against almost any item. Just remember that the pawn shop owner should be able to sell it in the event of your failing to return the borrowed amount. Of course, pawn shop owners use their discretion. Usually, they prefer small and costly items. Some examples would be coins, household electronic gadgets, cell phones, weapons and jewelry. Some may accept bigger items such as cars, motorcycles and boats.

Are pawn shops legal?

Yes, this is a legal business. However different states have different rules regards their operation and the type of services they provide to general public. It will be in your own interest as a consumer to deal only with licensed pawn shops.

There are quite a few federal rules and regulations applicable to pawn shops in salt lake city owners, pawn shop brokers and also consumers. The basic purpose of framing such laws is to check money laundering and restrict the rates of interest and fees chargeable from military personnel and to know the terms of credit.


Pawn Shops: Dealing In Rare Collection Of Coins

pawnshop1Pondering, “which pawn vendor will be best to sell my coins?” regardless of a slow acquisition of your coin collection over a generous long time of months or rather good number of years or whether you inherited it from your grand-parents, if you are in prior necessity of extra monetary assistance, hawking your coin collection can be a healthy rather wise approach to dough in a treasured covenant of money. Accomplishing the fiscal benefits of your investment implies to discovering out of a purchaser for your coins who will be alacritous to recompense you the flea-market value for your rare coin assortment.

Just in case, you have made up your mind of letting go off some or all of your rare coins, in order to get an immediate infusion of cash, there are a few things that you need to do in order to get the best possible price for them. Whilst some folks have the tendency of turning up to coin brokers to sell their coins, others find that dealing with a pawn shop is a better alternative, particularly if they are thinking of getting these coins back. Either way, whether you choose to go to a pawn shop or a coin dealer, there are a few things that should be done.pawnshop2

Do your homework: research is something you need to do before actually visiting any pawn shops slc. Have an in depth study of how much type of coins you have and how much their value is in exact. If you will be aware of this, no pawn broker can ever fool you. For greater confidence in your value of coins you can better consult a coin expert who will better judge the value of your coins and will let you know the exact value of your coins.

Get your coins ready to be sold: there is certainly not a big to do list to be executed for making ready your coins to be sold. Do not dare to clean them by using any means apart from a damp cloth as by this you may hamper its worth and resultantly you can reduce its value and consequently your income too.




Make a strategy: how to sell your coins? Whether you will be selling the entire collection or you will be selling them individually. Some coins need to be sold individually specially those who incur very low or are totally of no value. If such coins will be sold in a set, the pawn broker will take them for granted and will not render a penny for that but if sold individually you certainly will get something for sure. After all, something is better than nothing.

How you sell your coins will determine when you will be able to reap your finances so when you pledge your stuff to a pawn broker, you need to be cautious enough in order to get paid the best possible. Crown jeweler is a famous trustworthy pawn shops which believes in paying you what you actually deserve, considering customer the king pin of market, they oblige to serve them the best at their end.

For more information you can visit:


pawn-shopsA pawn shop is a store in which shoppers can find imposing deals for quality products. Individuals wanting money can sell their belongings to pawn shops as indemnity for small loan. Pawn shops loan these individuals a percentage of the value of their belongings and sell the items for considerably more than the price they paid for it if they are not paid back. Therefore,pawn shops are one way to borrow money.

Some of the top pawn shops in salt lake city:

Crown Jewelers and Pawncrown-logo
Contact: 130 E 3300 S
Salt Lake City, UT 84115
(801) 467-1115
Brands: Mastercard
Other Link:

Big Dog Pawn
Contact:  9361 Redwood Rd
West Jordan UT 84088
Business Hours: Mon-Sun 9:00 am-9:00 pm
Payment Method: Amex, Discover, Master card, Visa
Location: Redwood road just south of 90th south

Bargain Pawngold silver pawn shop
Contact: 1001 N State St
Orem, UT 84057
(801) 851-1431
Business Hours: Mon 10:00 am-5:00 pm
Tue-Fri 10:00 am-7:00 pm
Sat 10:00 am-5:00 pm
Sun closed
Payment Method: All major credit cards, Financing Available
Location: On north state street next to Wendy’s

Cash America Pawn
1. 789 S State St,
salt lake city, UT 84111
(801) 322-3841
2.  4253 W 3500 S,
Salt Lake City, UT 84120
(801) 966-8182pawnshop1
3.   6665 S State St,
Salt Lake City, UT 84107
(801) 262-0900
4.   7189 W 3500 S,
Salt Lake City, UT 84128
(801) 252-0377
Extra Phones: Toll free:(877) 421-2000
Payment Method: Amex, Mastercard, Visa, Check, Discover

Premier Pawn
Contact: 3721 S State St
Salt Lake City, UT 84115
(801) 981-4422
Business Hours: Mon-Sat 9:00 am – 6:00 pm
Sun 11:00 am-5:00 pm
Payment Method: Amex, Discover, Visa, Mastercard
Location: Conveniently located in SLC on State St(on the east side between 33rd S and 39th S)

Hy & Mike’s Annex Pawn & Bail Bondspawnshop2
Contact: 3668 W 3500 S,
Salt Lake City, UT 84120
(801) 997-5594
Business Hours: Mon-Sat 9:00 am – 6:00 pm
Sun 12:00 pm – 4:00 pm
Payment Method: Discover, Master card, Visa, Debit, Cash, Financing Available
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