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St. Louis Pawn Shop | What is Pawning?

All About Pawning

What is Pawning?

Deposit (an object) with a pawnbroker as security for money lent. A.C. Pawnshop has a loan period of 90 Days with an interest rate of 10% per month on the amount given. The minimum interest on any loan is 3 dollars”. Please note that only the interest can be paid, not the principle of the loan amount. In addition, each time an interest payment is made, the loan is extended an extra month. Please note, if any loan exceeds its out date that item will be forfeited and will become property of A.C. Pawnshop.

Borrow

Borrow

A.C. Pawnshop specializes in giving collateral loans called pawns. We have a loan period of 90 Days with an interest rate of 10% per month on the amount given. The minimum interest on any loan is 3 dollars”. Please note that only the interest can be paid, not the principle of the loan amount. In addition, each time an interest payment is made, the loan is extended an extra month. Please note, if any loan exceeds its out date that item will be forfeited and will become property of A.C. Pawnshop.

Sell

Sell

A.C. Pawnshop will also buy items outright. Our experienced staff will go through the same process of checking and valuing each item as they would on a pawn. Once the condition and value of the item is determined, A.C. Pawnshop will do its best to offer the best price possible to the customer.

Buy

Buy

A.C. Pawnshop is not only a place for customers to get loans, but it is also a retail store. Due to our philosophy of only bringing in quality products, the retail aspect of the store matches and exceeds the quality of the products that are sold to the public. Before any item is brought onto the showroom floor, it is thoroughly cleaned, inspected, and tested. Once the item has passed the inspection stage, it will then be priced accurately and affordably. We at A.C. Pawnshop stand behind our promise of getting the customer the best deal possible.

How many days do I get on a pawn?

Every A.C. Pawnshop loan has a time limit of 90 Days.

What is the interest rate on pawns?

Our interest rate is 10% of the given loan amount per month. Please note that the minimum interest charge on any loan is 3 dollars.

What if I pawn something that I bought from A.C. Pawnshop?

It is our store policy to give the customer up to a third of what they paid for the item. Example, if a customer bought something for 75 dollars; they could possible get 25 dollars on a loan. This is after thorough testing of the item. If the item is not at the same state of quality at the time they purchased it, the loan will be less than a third of the original price.

Does A.C. Pawnshop have layaway?

A.C. Pawnshop does offer layaway. The customer must put down a third of the original price and then pay the rest of the item off within 90 days. If any customer exceeds their layaway deadline, the item in question will be placed back onto the showroom floor for sale. In addition, any money that has already been paid will not be refunded.

What do I need to pawn?

You will need a valid state I.D., your social security number.

What happens if I lose my ticket?

If you lose your ticket please call the pawnshop. We will put an I.D. only hold on the item. This way is someone happens to find your ticket they cannot come in the shop and get it out, since the tickets are transferable. In addition, any lost ticket is an additional 3 dollars and will be charged at the time of redemption.

Can someone else pick up my pawn?

Only if that person has the pawn ticket for that item and there is no I.D. only hold noted on the account.

Can someone pay on my pawn?

Yes, any person can pay on a pawn. They either need to have the ticket, social security number, or name of the person.

How old do I have to be to do business in A.C. Pawnshop?

You must be 18 years old to do business with us. It’s the Law.

Do we do repairs?

No.

How much is the Jewelry Cleaning?

It depends on the item that needs to be cleaned. The minimum amount is 5 dollars for an ultrasonic bath.

Are there refunds?

In general, there are NO REFUNDS. We do not get guarantees when an item is brought to us, in turn we don’t not give guarantees on items that that we have sold. Only very special cases will get a possible refund or store credit.