Pawnshops are convenient when you need money, providing you have something to pawn that the pawnshop feels it can make a profit on if you elect not to come back for the items you pawn. Understanding which items pawnshops place the most value on can help you maximise your financial potential when you need to raise extra money.
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Gold and Diamonds
Pawnshops are not the ideal place to take your gold and diamonds because they typically will give you nowhere near what your items are worth. Jewellery stores are slightly better in this respect. If you do opt to use a pawnshop for your gold and diamonds, these items are at the top of pawnshop want lists and among the top-dollar payouts at a pawnshop. Alan Bretz of Uncle Sam's Pawn Shop in Columbus, Ohio, says that gold is one of the top items coming in and going out.
Musical instruments have always been a mainstay at pawnshops. Some pawnshops look like music stores. That's because musical instruments are one of the hottest sellers in pawnshops and fetch the most money of items brought into a pawnshop. The reason musical instruments are one of the most frequently purchased, top-dollar items in pawnshops is because pawnshop owners move them. Guitars and amplifiers get the most money of musical instruments.
Power tools purchased new can be expensive. People in need of money often bring power tools to pawnshops for extra cash. This is because power tools are a top-dollar item at the pawnshops. Like anything else, pawnshops won't give you nearly what your tools are worth, but they are willing to pay more money for power tools because they know they can sell them.
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