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If you’re a fan of reality shows like “Pawn Stars” or “Hardcore Pawn,” you’re already familiar with how pawn shops work. While you can sell almost anything at a pawn shop, certain items are more in demand than others and are more likely to fetch higher dollar amounts. Knowing what to expect can be helpful if you’re in a pinch and need a certain amount of cash quickly — say $500.
Read More: 6 Genius Things All Wealthy People Do With Their Money
Quick Take: Pawn Shops
There are about 10,000 pawn shops nationwide, according to the National Pawnbrokers Association, many of which are family-owned businesses. You bring an item to a pawn shop, and the pawnbroker will offer you a short-term loan based on the item’s value. If you pay off your loan in time, you get your item back. If you don’t pay the loan in time, the pawn shop is free to sell your item. You can also sell your items outright.
A personal loan from a bank is a better alternative if you qualify. Otherwise, pawning might be a viable option. Here is a look at some advantages and disadvantages of pawn shops.
Pawn Shops Pros and Cons
| Pros | Cons |
|---|---|
| Pawn shops don’t care about your credit, so you can get a loan even if you have poor credit. | The exorbitant annual percentage rate you’ll pay on the loan may not help your financial situation. For example, the shops are regulated by states, so how much interest they charge varies widely. This can range anywhere from 12% to over 240% APR, according to Nolo. A 240% APR means you’d pay 20% interest per month until the loan is paid off. |
| If you fail to pay back your pawn shop loan, it won’t affect your credit score — you’ll simply forfeit your pawned item. | Pawn shops only loan you about 25% to 60% of an item’s resale value. If you pawn a piece of jewelry worth $1,000, you might get a loan amount of between $250 and $600, but you won’t get the value of the item. And, of course, you’ll risk forfeiting a $1,000 piece. |
| You’ll be able to get cash on the same day, so if you need money in a hurry and have no other options, a pawn shop may work for you. | A high percentage of people aren’t able to repay the money owed. The average loan from a pawn shop is $150 and lasts 30 days, according to the NPA. About 85% of people do pay back their loans and reclaim their items. |
12 Best Items To Pawn For Quick Cash
If you need some extra money one of the easiest ways to score some is to sell items that are in good condition from around your house. You don’t even necessarily have to give up anything as long as you pay back the loan on time. Your local pawn shop knows certain things that are in high demand have good resale value such as the following:
- Jewelry
- Precious metals
- Watches
- Firearms — registered to you
- Electronics
- Power tools
- Musical instruments
- Sporting goods, such as bikes
- Gaming systems or consoles
- Antiques
- Smartphones
- Video games
You can try to negotiate the price they offer you if you think it’s too low. Different pawn shops make different offers, and loan amounts can vary widely depending on the broker, the popularity of the item in a particular market and the item’s condition. If you have time, visit several pawn shops to get the best offer on everything from precious metals to firearms.
What Can You Pawn for $50?
The following items can often fetch $50 or more:
- Designer sunglasses
- Designer belt
- Lawnmower
- KitchenAid mixer
- Leaf blower
- Laptop
- Microwave
Clean items in excellent condition have the best chance of getting top dollar.
What Can You Pawn for $100?
According to Pawn Bat, these items can bring in $100:
- Snowboard
- Flat-screen TV
- Tablet
- Bose speakers
- Apple watch
- Refrigerator
- GoPro
- Power tools
- Jewelry
- AC unit
- Golf clubs
- Game consoles
What Can You Pawn To Get the Most Money?
Since pawn shops typically offer somewhere between 25% and 60% of an item’s resale value, you’ll need to pawn an item worth between $835 and $2,000 to get $500.
Jewelry
Concentrate on items with gold, diamonds or platinum. Pawn shops sell a lot of jewelry, and they often have someone on hand with specific expertise in gold and precious stones. They’ll be familiar with things like cut, carat weight and melt value. If you aren’t familiar with current prices on jewelry, it might be smart to bring the pieces to a jewelry store that sells pre-owned and estate jewelry to get a quote for comparison, and perhaps a better deal.
Other Precious Metals
Precious metals are easy to pawn because they tend to appreciate over time. This makes them a good risk for a pawn shop.
New High-End TVs
If you’re looking to pawn a nice, new TV, it needs to be high-definition or 4K to fetch a significant price.
Collectibles
Collectibles can be tricky, with some commanding far more money than others. Some collectors’ items are worth well over $500, so do your homework by researching values on WorthPoint or checking sold prices on eBay before you head out to a pawn shop. Note that some collections aren’t worth much at all; your collection of Beanie Babies, vintage band T-shirts or royal memorabilia probably won’t get you much.
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Coins
Much like collectibles, coins can vary widely in value. A 1964 Kennedy half dollar is worth about $10, whereas a 1913 Liberty Head V Nickel averages over $3 million, so be sure you know what your coins are worth before pawning them.
Firearms
High-end firearms that are registered to you and are in good working order can easily get you a $500 loan.
Vintage Technology
If you happen to have one of the following, you can probably get $500 for it at a pawn shop:
- Macintosh 128K — Worth $1,500 to $3,000
- Pioneer SX-1980 Stereo Receiver — Worth $10,000 to $15,000
- An original, unopened iPhone — Worth $3,000 to $6,000
What Will a Pawn Shop Not Buy?
You can sell almost anything at a pawn shop, but some items command higher prices. Keep in mind that if you never pick up your item, the pawnbroker needs to sell it to make a profit. However, if the pawn shop has a lot of inventory of whatever you’re selling, they might not buy it at all, or you may get a very low offer.
Final Take To GO
If you need cash in a hurry and you have an item you won’t miss a pawn shop could be a good option for you. Keep in mind that interest rates and finance charges can be quite high, so consider other sources of cash if you can afford to wait a bit.
Other Ways To Make Money
- Get Paid To Sell Plasma
- Get Paid To Sleep
- Make Money Advertising on Your Car
- Make Money Blogging
- Make Money on DoorDash
- Make Money On Fiverr
- Make Money on Pinterest
- Make Money Self-Publish on Amazon
- Make Money Taking Surveys
- Sell on Etsy
- Sell on Poshmark
- Sell on Redbubble
- Sell Pokemon Cards
- Sell Your Photos Online
Pawn Shop FAQ
- What items are pawned most?
- Jewelry, electronics, sports equipment, musical instruments and power tools are items that are commonly pawned.
- What's worth a lot of money at a pawn shop?
- Items such as fine jewelry, collectibles, coins and firearms can be worth a lot of money at a pawn shop.
Caitlyn Moorhead, Daria UhligandCynthia Measom contributed to the reporting for this article.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
- National Pawnbrokers Association. "What is a pawn transaction?"
- National Pawnbrokers Association. 2020. "National Pawnbroker Week."
- Meriden Pawn. "The Most Pawned Items in 2020."
- Coin Trackers. "Coin Trackers."
