How does pawn shops work...? -

hihow does selling or mortgaging gold in pawn shops works in US...am in need of some money...so thought of getting it from pawn shop in return of something...do pawn shops accept only gold or jewels. or anything that could be pledged in returnfor cash...what are their interest rate like?

Hello there,A pawn shop is a loan business. They make a loan to you and you provide them with possession of something of value (collateral) for them to hold until you repaid the loan. If you do not repay the loan within the time set, they have the right to sell whatever you gave them and they get to keep all that it brings.The pawn shop is only going to want to make a loan on something that they can easily sell, such as a diamond ring. They are not a junk shop and will not take just anything. I do not know the actual percentages, perhaps someone else will give you those. You can expect to receive only a small part of the value of the collateral.If you do not intend to repay the loan, you are probably better off selling your items. You will most likely get more for them.Later,