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Pawn Shop

A Pawn shop is a business that accepts collateral in exchange for a short term cash loan. These short term cash loans can vary from State to State. Pawn shops charge monthly interest at a percentage and usually a loan origination fee. The percent of interest your charged will vary depending on what state you’re in when you need a loan. A pawn shop is a very helpful resource for people who are strapped for cash and have no way of borrowing from a credit card or wish not to take a loan from a relative. Pawn shops will take any item of value such as TV, computer, jewelry and many other things with a value. So here is an example of a typical loan process using the state of Nevada’s guidelines and policies for Pawn Shops.

Let’s say you brought in a 14kt gold bracelet with diamonds. You paid $3000 retail for it 10 years ago but it only has an intrinsic value of $800 meaning that if it was scrapped for metal the Pawn Shop owner could melt the gold and sell the diamonds whole sale and get $800. So the Pawn Shop owner could safely offer a Loan of $700 with 13% interest and a $5 loan origination fee at 90 days. During the 90 days you have the option to redeem or renew the item with the Pawn Shop. If your money situation is still tight after the 90 days and you need a another month or so you can opt to renew the item with the Pawn Shop for another 90 days which essentially means you would pay the 90 days of interest thus far and loan origination fee of $5.

After renewing the item the loan basically starts over and the interest goes back to day one with the loan originating fee being assessed again for $5. The last and final step of the Pawn shop process is redemption or default. Redemption is exactly how it sounds. You would bring in your ticket, pay back the original loan amount and the interest accrued thus far along with the $5 loan fee. If you still cant come up with the money borrowed at the end of the 90 days and cant afford to renew you would then default on your loan and the Pawn Shop owner would then sell or scrap your item to get back his money.

A Pawn Shop would much rather have you continue to pick up your item and re-loan on it then for you to default. If you default on your loan its not the end of the world but Pawn shop owners to have a system to keep track of your loan history and will adversely affect future loans if your defaulting more then your picking up.

OUR

LOCATION

East Flamingo

Monday – Friday: 9:30 am – 4:30 pm
Saturday: By Appointment Only
Sunday: Closed

WHY CHOOSE US?

READ OUR REVIEWS

They took the time to help me sell my item and find an item. The staff does not rush you or pressure you into buying something. They take you on a little adventure by telling you about the items you are selling and looking at…

Miller B.

I recently got divorced so I wanted to get rid of some of the jewelry my ex-husband got me. I found Nevada Coin and jewelry searching the web. When I called the guy that answered the phone was friendly and willing to quote me a price per gram. I went to their store on Flamingo, Avery whom I spoke to on the phone tested my items using some kind of x-ray machine. I could see that some of my jewelry was not the karat I thought (some lower some higher). He paid what he quoted on the phone no bait and switch. It took less than 15 minutes got my cash and got rid of some bad memories. I would recommend this company if you are looking to sell jewelry.

Virginia F.

Nevada Coin and Jewelry – has excellent customer service – providing las Vegas with top notch service and expertise – this is my primary coin dealers — others just can’t keep up – they are helpful and friendly – in my opinion they are the best in the south west area — so that’s my review a++++ rating – because I am a good customer – this is the best place to buy and sell gold and silver bullion.

Freddie I.

We were really pleased with the help that AJ gave us concering our gold coins and watches. I don’t think we could have received a better deal anywhere. All of the personnel at Nevada Coin & Jewelry were very professional. We will recommend them to our friends.

Dean & Judy

This place is definitely recommended!!! A.J. and David are amazing…very helpful and nice people at that! I would totally consider going to this place.

Bree D.

What friendly staff. They help you sell your items even if they don’t have a use for it by calling other shops around the area to see if they could use it… They want you to have the best out come from selling your items. I was so happy I decided to go to them!

B.J.

The staff are quick at work but not too quick to make you feel pressured into buying items or selling your items. They teach you about the items and tell you if they have use for your items or not. If they don’t have use for your items they call other places to see if they have a use for the items. Great staff!

Ramon

I am a brazilian and had the chance to deal with Nevada Coin. I was there to sell some gold coins and they paid me the best price I could fetch in Las Vegas. They are professional, courteous and trustworthy. Before visiting their premises I got a tentative appraisal by phone which I found reasonable. In the shop the attendant offered to approach the manager to get me a (gasp) BETTER price. Do yourself a favor and don’t bother talking to their rude and unprofessional competitors. They will treat you like a moron and quote prices accordingly. For Nevada Coin, five Stars all the way.

Guilherme

My wife cashed in some coins and we got top dollar. We have sold to others before but no more, we found a real professional store in Nevada Coin & Jewelry. “Thank You”

Steve

My Aunt recently passed and she lived in the outskirts of Las Vegas. While my sister and I went through her estate we found a number of items that neither of us considered keeping, but our aunt was clear in her will that she wanted us to use her things to make a profit and in turn use that money to help our futures. We shopped around, especially not being from the area, and got a lot of negative experiences just on the phone. People were rude, uninformative, and really just gave us a feeling they wanted to rip us off. It made us think of those dirty pawn shops you “hear about”. Finally I called Nevada Coin and Jewelry and the whole day shifted! We described a few pieces of jewelry and they helped us figure out initially a general value based on the metal. Of course, they did explain the importance of actually coming in and examining the pieces individually. That level of service over the phone got us through the door. When we went to the spot we were greeted with the same level courtesy, but the professionalism when going over each item and it’s value was through the roof! They took the time to explain why each item was worth what amount and even gave us a little bit of history on the styles. At the end of the day, my sister and I walked away with a sizable amount of money to put towards my son’s college fund and my sister’s vet school. Thanks, Nevada Coin and Jewelry!

Ashleigh L.

Great family run store. I’m well taken care of every time I show up at this location. Thank you Nick.

Always a good experience here! Definitely the place in town I enjoy buying coins from, and I’d recommend them to anybody. Helpful staff, reasonable prices, and wide selection.

Daniel B.