What Are The Best Types Of Electronics To Use As Collateral For A Pawn Loan? Some of the most common types of items that people use as collateral for a pawn loan in order to quickly get the cash they need include jewelry, musical instruments, power tools, collectibles, memorabilia, accessories, and electronics. If you are looking to get a pawn loan but aren’t sure what to use as collateral, you likely have some electronic devices in your home that can get you the cash you need at your local Empire Loan location! In this article, we’ll talk about some of the types of electronics that can ea ..read more

Will Taking Out A Pawn Loan Affect My Credit? Pawn loans will not affect your credit in any way, even if you miss payments or default on the loan! The reason that pawn loans do not affect your credit is because they are collateral-based, meaning the value of the loan (the principal) is covered by the item(s) you leave with us to secure the loan. For this reason, pawn loan amounts are not typically based on what you paid for the item you are using as collateral or what it appraises for, but rather by the item’s secondhand value. This means that even if you do not pay back your loan, your cr ..read more

The price of gold has been trading at an all-time high, with the spot price of gold exceeding $2,000 in recent weeks for the first time since its all-time high in 2020. Specifically, gold’s price-per-ounce closed at $2,040.02 on Thursday, April 13th 2023, just $35 less than the all-time intraday high of $2,075. The rise in the price for gold can largely be attributed to the outlook on interest rates, global military actions, and general economic uncertainty. As the Federal Reserve has continued to raise interest rates in an attempt to bring down inflation, gold investors have turned to the ..read more

Empire Loan in Stoughton was a featured location for the filming of Season 2 Episode 2 of “Kevin Can F*** Himself” starring Annie Murphy on AMC! Check out our scene below! The post Empire Loan Featured On AMC’s TV Series “Kevin Can F*** Himself” first appeared on Empire Loan ..read more

Pawn shops are renowned for their wide selection of high-quality yet affordable items like electronics, tools, accessories, handbags, watches, and perhaps most notably, jewelry. Many pawn shops, including our Empire Loan stores, have an ever-changing selection of gold, silver, platinum, and diamond jewelry in stock and available at great prices. In this article, we’ll go over some of the reasons why shopping for jewelry at a pawn shop is a great idea when you want to treat yourself or get a special gift for a loved one!   Get More For Your Money One of the biggest reasons that people love ..read more

Purchasing power tools on a budget can be tricky, because while you want to find the best deal possible, you don’t want to sacrifice quality. In this article, we’ll go over a few tips on how you can find brand name tools at a fraction of the retail cost! Looking to purchase power tools in Massachusetts or Rhode Island? Come see us at any of our eight Empire Loan locations or shop our eBay online store for awesome deals! Buy Pre-Owned Power Tools One of the best ways to get a quality, brand name tool for less is to buy it pre-owned. Good quality power tools have long shelf lives and can be used ..read more

A pawn loan, also known as a collateral loan, is when you provide an item of value to a pawnbroker, and in exchange, you get a cash loan. The pawnbroker will then hold on to that item until you repay the loan, at which point you will get the item back. The size of the loan will, of course, depend on the value of the item you’re using as collateral. With most items, value is determined by looking at the selling price of similar items on secondhand retailers like eBay. This means that your item’s worth is determined by what it could be sold for today, not what you originally paid for it at retai ..read more

You’ve heard it before: Gold is at historic highs! In the past ten years, the price of gold has gone from a low of $1,050.00 per ounce to a high of $2,063.00 per ounce. That’s nearly double the price. Even in just the past five years, gold prices have increased by nearly 60%. What caused this spike? Gold is considered a more stable investment than stocks, and it recovers losses faster than the stock market. When there is instability in the world, gold prices tend to rise. National and international instability seems to be driving the current surge.   What Does The Spike In Gold Prices Mea ..read more

While people have been doing pawn loans for centuries, most people don’t know how a pawn loan works or what it is. In this article, we’ll go over the basics of pawn loans and how they work at Empire Loan! What Is A Pawn Loan? To start, a Pawn or Collateral Loan is when you provide something of value to the lender or pawnbroker to hold in exchange for a cash loan. The pawnbroker holds the item(s) until you repay the loan and you get your item(s) back. That’s essentially what a pawn is and how the process works.  In modern times, pawn loans work in the same way: pawnbrokers lend you money b ..read more

Ever wonder what the difference is between the different karats of gold? Why is one worth more than another? Let’s start with 24K (Karat) gold, which is pure gold. This is what trades on the commodities market and is what you think about when it comes to bars of gold like you see in the movies. This is also what collectors and traders tend to save for investment purposes. As a metal for jewelry however, while it may be beautiful, it is soft and pliable meaning it is not always practical. Certain countries do make jewelry out pure 24K gold, particularly in Asia, but for general everyday use, it ..read more