How Does It Work If I Pawn Something?

Calaveras Coin & Pawn loans money on items of value ranging from gold and diamond jewelry to antiques, musical instruments, electronics, etc. All customers provide collateral, eliminating the need to distinguish high risk from low risk borrowers.

Typically, pawns are small averaging between $70 and $100, although they can be as small as $20 or as high as tens of thousands of dollars depending on the value of the collateral. Contract in California is for 4 months and 10 days, renewable any number of times by paying the interest due. Generally, interest rates will vary with the amount of the pawn.

The process is much the same as any other lending institution, with the primary difference being the size of the pawn, the collateral and the holding of the merchandise until the interest or the pawn has been repaid.

Calaveras Coin & Pawn offers the consumer a quick, convenient and confidential way to borrow money. A short term cash need can be met with no credit check or legal consequences if the pawn is not repaid. A customer receives a percentage of the value we believe the collateral would bring in a sale. A pawn of about 50 percent of the resale value of the collateral is typical.

When a customer pawns an item, terms of the pawn are printed on a pawn ticket that is given to the customer. The ticket states the customers name, address, type of identification provided to the pawnbroker, a description of the item, amount lent, maturity date, interest rate and amount that must be paid to redeem the item.

All transactions are confidential