When a person is looking to sell damaged or unworn jewelry, the process is usually intimidating at first. However, companies that Buy Silver in Chicago streamline the process and make it easy to convert precious metals into cash. Selling jewelry to a pawn store is usually one of the preferred methods, and those that specialize in gold and silver allow anyone to gain access to the cash they need quickly. The following is a look at why more people utilize pawn shops and the benefits of doing so.
Fair Valuation Process
When a person is looking to sell unwanted items, they are hoping to get the most money from the sale of their jewelry. A pawnbroker will first verify the authenticity of the metal. Once that’s done, they will assign jewelry a value, which is usually based on current market prices. Finally, they will create a contract that states the payout amount and, if the person agrees to the terms, they only need to sign it to complete the transaction.
Fast Payout
One of the biggest reasons most people visit a pawn shop that will Buy Silver in Chicago is to get access to cash quickly. Though the evaluation process usually takes around 30 minutes and, once the initial work is completed, most payouts occur immediately. A majority of pawn shops will payout via cash or a check, depending on the amount due, which gives a person fast access to the money they need to make ends meet.
Loan Options
In some instances, a person may need money but still wants to retain ownership of the jewelry. Pawnshops eliminate this problem by offering a variety of loan options, which will give a person the money they need and allow them to reclaim the collateral as long as they make the required payments. If the person does default on the loan, they will lose access to the jewelry, but it will not adversely affect their credit, as is typical with other loan types.
It is possible to obtain money in times of need, as a pawnshop makes it easy for anyone to turn unwanted or unused jewelry into cash. Clark Pawners and Jewelers has been a trusted source for buying and selling precious metals for more than 20 years. Contact us today to learn more and take the first step in overcoming financial difficulties.