What is a pawn and how does it work?

A pawn allows you to use your item as collateral for cash. Your item is secured in the pawn shop until you redeem it or the pawn contract defaults. You typically have 30 days to repay, with a possible 30-day grace period. Extensions can also be arranged.

Why use a pawn broker?

Pawn brokers provide an immediate cash solution when banks may not. They offer quick cash loans against valuable items.

Are pawn rates higher than other loan rates?

Pawn rates are reasonable and based on loan size and duration, adhering to Illinois regulations without hidden fees.

Is there a risk of losing merchandise when you pawn it?

Most pawn loans are repaid, with nearly 97% returned. Failure to repay means losing the pawned item.

How does one pawn merchandise?

A pawn is a collateral loan where items are appraised for their cash loan value. Items such as jewelry, electronics, and instruments can be pawned.

What if I lose my loan ticket?

You can still claim your item with a valid photo ID even without the ticket.

What if I don’t pay on time?

Contact us to discuss your situation, as we are open to negotiating payment plans.

What interest rates can I expect?

Interest rates are determined by the loan amount and kept reasonable for customers.

Does your pawn shop sell stolen merchandise?

No, we only engage in legitimate business, requiring ID for all transactions.

How much can I get a loan for?

Loan amounts depend on appraisals of your items, with factors like condition and market demand playing a role.

How is selling different from pawning?

When you pawn, you keep ownership of the item until the loan is repaid, whereas selling transfers ownership to What A Gem.

Is dental gold worth anything?

Yes, dental gold can be quite valuable, typically ranging from 10k to 18k depending on its composition.

What is the process for selling dental gold?

To sell dental gold, simply bring it to Royal Pawn for testing, and we will provide you with a cash offer based on its value.

What types of gold do you accept?

We accept a variety of gold types including scrap gold, broken gold, class rings, necklaces, and more.

What types of items do you purchase?

We buy diamonds, engagement rings, earrings, necklaces, bracelets, coins, watches, and precious metals.

Where is your store located?

We are located at Five South Wabash, Suite 808, Chicago, IL 60603.

What are your business hours?

Our business hours are Monday through Friday from 10:00 AM to 5:00 PM.

Do you offer free appraisal?

Yes, we provide free appraisals for all items you wish to sell.

Yes, we offer insured shipping for items sent to us.

How can I schedule an appointment?

You can schedule an appointment by calling us at 312-759-1525.

Who are Midwest Diamond Buyers?

Midwest Diamond Buyers specializes in purchasing consumer-recycled gold, diamonds, jewelry, and watches. We prioritize customer satisfaction and integrity and are members of recognized jewelry organizations.

How safe is selling to you?

We utilize various safety measures, including a partnership with a logistics provider to ensure safe delivery. Customers may also visit our office for quotes and have the option to reverse transactions.

How soon will I get paid?

Payment is made via check or bank wire after the transaction is completed, depending on the total amount.

Do you have exempted diamonds you do not buy?

No, we purchase all types of diamonds and provide competitive estimates.

How much will you offer me for my diamond?

The value is based on carat, clarity, color, cut, and certification, and our team will analyze these factors to provide the best price.

Where are you located?

We are located at 29 E Madison 1818-2, Chicago, IL 60602.

What is the best way to contact you?

You can reach us via phone at (708) 683-9833 or email at info@mwdiamondbuyers.com.

How long do appointments take?

Most appointments last about 30 minutes, depending on the number of items.

Do you buy bigger/larger diamonds/fancy color diamonds?

Yes, we purchase larger diamonds and natural fancy colored diamonds.

What makes you a trusted local diamond buyer in Chicago?

Our expertise, integrity, and commitment to customer satisfaction make us the trusted choice for selling diamond jewelry.

What types of estate jewelry do you buy in Chicago?

We buy estate jewelry including rings, bracelets, necklaces, earrings, and brooches.

How can I sell my diamond jewelry in Chicago?

Selling your diamond jewelry is simple; schedule an appointment or visit our office for a free evaluation and offer.

How do I start the process of selling my diamonds in Chicago?

To begin selling, complete our online form or call 312-763-5585 to discuss your items and schedule an evaluation.

What services do you offer?

We offer Luxury Loans, Appraisals, Insurance Replacement, Purchase and Loan services.

Where are you located?

Our showroom is located at 11 North Wabash Avenue, Chicago, IL 60602.

What are your business hours?

We are open Monday to Friday from 9:00 AM to 5:00 PM, Saturday 10:00 AM to 4:00 PM, and closed on Sundays.

What are payday loans?

Payday loans are small-dollar, short-term loans designed to help borrowers cover emergency expenses until their next paycheck.

What is the maximum loan amount for payday loans in Illinois?

In Illinois, the maximum loan amount for payday loans is $1,000.

Can I get a payday loan with bad credit?

Yes, many lenders offer payday loans without requiring a hard credit check, so bad credit may not disqualify you.

How quickly can I get the funds?

Typically, payday loans offer same-day financing as long as the application is submitted during business hours.

What are the eligibility requirements for a payday loan?

You must be at least 18 years old, a US citizen, and have a regular source of income and an active checking account.

What services does Elmhurst Coins & Collectibles offer?

We provide a full range of numismatic services including buying and selling coins, precious metals, appraisals, and certification services through PCGS and NGC.

Do you provide appraisals?

Yes, we offer free verbal evaluations and confidential written appraisals for banks, estates, and insurance companies.

What are your business hours?

We are open Tuesday to Friday from 10:00 AM to 6:00 PM and Saturday from 10:00 AM to 4:00 PM. We are closed on Sunday and Monday.

What types of items do you buy?

We purchase gold and silver jewelry, sterling silver flatware, coins and bullion, and dental gold.

Do you offer in-home appointments?

Yes, we make house calls and offer private appointments at your home or other locations.

What areas do you serve?

We proudly serve clients in Illinois and Florida.

PawnShopz | Discover pawn shops in Lake Forest, Lake County

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