Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Mansfield pawn store does brisk business

October 6th, 2011. Filed Under: Uncategorized. Tags: , , ,

Mansfield pawn store does brisk business
Difficult economic times bring more people to get loans on their belongings

From Mansfield News Journal.com

MANSFIELD — The struggling economic climate has drawn a lot of new customers to Johnson Brothers’ Jewelry & Loan, 32 S. Park St.

“Customers are still coming in to pawn jewelry to get money for car repairs until they get that paycheck,” Eric Johnson said. “We have a lot of people come in just to get money for gas.

“Business is very good as far as the loans. TV shows have put a positive light on the industry. In the past, everybody only knew about a pawn shop through Hollywood and TV and showed us in a dimly lit pawn shop.

“We’re not really about that.”

Eric and his wife, Rhonda, have owned the downtown Mansfield store for more than 20 years.

Pawn shops are required by law to make a list of everything they buy, complete with make, model and serial number. The list is taken to the police department daily so authorities can compare items brought into pawn shops to any stolen items reported to them.

Eric is a member of the National Pawn Brokers Association and is vice president of Ohio Pawn Brokers Association. He said reality TV shows like “Pawn Stars” and “Hardcore Pawn” have helped to bring pawn shops into the mainstream.

“Pawn Stars” is a reality show on the History Channel that features a brightly lit pawn shop in Las Vegas. The store has cases of jewelry, memorabilia, antiques and other items for sale, while employees barter with sellers for their items.

“Hardcore Pawn” is another reality show spotlighting a Detroit pawn shop and airs on truTV.

What pawn shops do is provide short-term loans to people based on the value of an item they pawn. Those who repay the loans on time — usually a 91-day limit — get their items back. Those who don’t repay lose their items, which the pawn shop sells.

“Our most common thing is a pawn, people want their items back,” he said. “We just hold it for them for a short period of time, then they come back and get it and pay us a small storage and interest fee.”

Everything customers see on store shelves is for sale. Eric said prices are competitive with eBay.

Merchandise includes gold, hunting bows, guns, musical instruments, jewelry, big-screen TVs, game systems, laptops, cameras and more.

“The most popular item is gold,” he said. “We buy a lot of gold. Part of it is word-of-mouth. We do pay an extremely fair amount for loans and buys on gold.”

Gold, diamonds, guns, electronics and tools are also popular items, he said. The shop owners also deal in antique furniture, boats, cars, motorcycles, limousines, campers and tractors. Everyone seems to stop and admire the rows of guitars.

“I have a soft spot for guitars,” Eric said. “(But) I don’t play a chord.”

The downtown business owners said they like the work.

Eric said he learns something new every day.

“About products, about the people. I meet new people every day,” he said. “I love my job. I love people. It’s what we are in business for. That’s our main thing here, somebody comes in and needs a small loan. We fit that need. They need to borrow a few hundred dollars, maybe even a few thousand dollars. We can provide that for them. It’s quick. It’s confidential. They don’t have to go through any credit checks. We agree upon a price and they can walk out with a loan and come back and retrieve their item when they get financially stable again.”

An employee at the Diamond Street Pawn Shop, 78 N. Diamond St., said he believes the reality pawn shop shows are an annoyance to the real pawn shop businesses.

“A lot of it is dramatized,” said the employee who did not wish to be identified. “It’s in Las Vegas (‘Pawn Stars’), and around here people don’t lose money on gambling like in Las Vegas, so we don’t have people wanting to pawn their Porsche.”

A fully licensed federal firearms dealer, the Diamond Street Pawn Shop, has a jeweler on site and has been at this location for 21 years, he said.

Eric Johnson said he’s had people try to pawn some unusual things.

“We don’t take anything we have to feed or clean up after,” he said.

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Gold prices are up, don't trust your valuable Gold to just anyone.

We Want Your Gold!

We Will Pay More!
We Want To BUY Your GOLD!!!

It's Easy...Call Now: 865-882-7188

Even if its Broken or old. We also loan on your gold if you would want to keep it!

Thank you for visiting Mid South Pawn. We want to be your one stop pawn shop. We are here to assist you with quick, private & confidential service. We offer cash loans on your valuables. We also purchase your valuable merchandise outright if you would rather just sell it.

Our loans are based on your collateral, the value of your stuff, not your credit. There is no application or approval process, we have instant answers to your cash needs. Need more money, bring more, better stuff! You have no credit limit here!

In addition to loans and buying your stuff, We offer great deals on quality pre owned merchandise. Our inventory is always changing and includes a wide variety of Jewelry, diamonds, guns, tools, electronics and a lot more all at prices that are way better than buying new. From guns to guitar strings, we have it!

Call Now: 865-882-7188

Secrets From a Pawn Star

September 3rd, 2011. Filed Under: Uncategorized. Tags: , , ,

from Yahoo! news
The business model of the pawn shop dates back over 3,000 years and remains largely unchanged: A customer in need of some cash gets a loan from a merchant, using a personal possession as collateral. The pawn shop holds the property for a predetermined amount of time, charging interest on the loan. If the customer can pay his debt before the deadline, he gets his property back. If not, it’s the pawn shop’s to resell.

While the basic transaction is much the same as it was in ancient China, the reputation of the pawn shop industry has fluctuated wildly. Pawn shops have often been portrayed and viewed as vaguely threatening stores located in seedy parts of town, where only desperate customers would dare venture to.

Today, the modern pawn industry has become something else entirely. Many of these shops, which also operate like small banks, are publicly traded companies and are becoming cultural phenomena. The embodiment of the new era of the pawn shop is Rick Harrison, star of History Channel’s monster hit Pawn Stars and author of the book “License to Pawn”. Harrison, who runs the Gold & Silver Pawn Shop in Las Vegas, Nevada recently sat down with Breakout to discuss the economy, misconceptions about his business, and the endless number of curios he comes across when dealing with the 3,000 to 4,000 customers coming through his shop every single day.

Harrison immediately addressed the lingering perception of pawn shops preying on the down-and-out, or especially in Las Vegas, desperate gamblers down to their last chips. Despite the tough times, nearly 80% customers reclaim their goods; meaning a pawn shop transaction is more like a bridge loan for the roughly 25 million Americans without a traditional bank account, rather than a legitimized loan sharking operation.

Which isn’t to say the pawn shop business is impervious to the economy. Most assume the stores do better in a weak economy; but they don’t. Harrison explains that it’s the nature of buying and selling that changes based on economic conditions.

“When times are good, I’m buying less stuff and I’m selling more stuff. When times are bad, I’m buying at lot of stuff but it isn’t moving like it used to,” says Harrison. Reflecting the building slump in Vegas, there’s a glut of construction-related goods coming into his shop, but very little demand from buyers. As any student of economics will tell you, too much supply and little demand means lower prices. “At this point, we have just stopped taking construction tools altogether. That’s how bad construction is in Las Vegas,” says Harrison.

While Harrison’s front line view of his local economy is troubling, the beauty of the pawn shop business is that it can capitalize on whatever trend is hot at the moment. A car dealer is stuck selling cars regardless of vehicle demand. In contrast, the players in the pawn industry specialize in trends. Of course that brings us to the trading craze of 2011: Buying and selling gold and silver.

“I cannot keep gold and silver bullion in my stores at all,” the retail rockstar said. “We buy it every day. Every morning I put it in my showcase and it’s gone by noon.”

But if you’re ready to run to your local pawn shop to sell your jewelry, think again. Nobody in retail ever made money overpaying for goods then selling them at a discount. Harrison, like any successful pawn business, will offer a discount to the price you see quoted in financial news, and then sell your stuff at a premium if you don’t pick it up before the end of his 120-day holding period. It’s not personal, it’s just business.

Pawn shops are also the last place to go if you’re looking for a sucker to overpay for your junk. Harrison’s store carries as many as 22,000 different items at any given time, or as he puts it, the shop has “one of everything.” After 30 years in the business, he says it’s “pretty simple” to spot counterfeits. And if an item is questionable, he calls in an expert to vet the goods. It’s a good thing because there are plenty of hard-to-value oddities at any pawn shop, particularly one based in Las Vegas.

Harrison’s store alone has a fist full of Super Bowl rings, four Olympic gold medals, the boots that jockey Hall of Famer Willie Shoemaker wore in his 8,000 race, and a Pee-Wee Herman doll sealed in its original packaging. But those aren’t anywhere near the strangest thing on his shelves. At the moment Harrison is in possession of a 200-year old Japanese “pillow book” of the type he says were once given to Japanese brides on their wedding nights.

Ok then. Harrison says many of these rarities are more valuable to him as museum-type pieces than retail items. Museums may be the last thing you think of when considering pawn shops, but it’s a new day for an old industry. Whether to hock an heirloom or simply check out the modern version of Ripley’s Believe it Or Not stores, it’s time to change the way you think of the pawn shop business.

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