We will pay or lend cash on any item of value! • Highest prices paid!
The pawn shop is one of the oldest businesses around. They were around in Acient Greece and the Chinese have had pawn brokers for at least 3,000 years. Queen Isabella of Spain pawned her jewels so that Christopher Columbus could sail in search of a new route to the west Indies. In turn, he stumbled upon America. Throughout history, people from all walks of life have used pawn shops from Kings and the rich to your average Joe. You can buy and sell things at a pawn shop and use your valuables as collateral for a loan.
Simply bring in your gold or other valuables to any of our Chicago pawn shop locations or our Oak Park pawn shop location. We need to be able to examine the item in person. If it's gold, we will test it for purity. (click here to read about gold purity and the gold karat system). If it's an item such as a flat screen TV or laptop computer, we will take into consideration things like age, condition and resale value.
After we examine your item, we will determin a value and price that we are authorized to pay you for your item as a buy, or lend to you using the item for collateral. You can generally get a little more cash for your item if you sell it. If you decide to sell, we will pay you cash and you are on your way! If you decide to use the item as collateral for a loan, we will lend you the money and you will have a certain amount of time to come back into the store and pay the loan back plus interest. Loans can be anywhere from a month to three months or more, depending on what you need. If you run into a jam, we can usually work with you to extend the loan as long as you cover your interest. You are charged interest monthly until you pay your loan back in full and redeem your item.
Most items in pawn get redeemed by their owners. However, sometimes they aren't redeemed. When you fail to redeem your item by paying back the original loan amount plus interest, we will resell your item. Items get resold in our show rooms, to wholesalers and retailers and to refineries. If you ever think that you're going to have trouble paying back your loan in the agreed upon time and don't want to give up your collateral, please talk to us.
If you need cash, Royal has a pawn shop location near you. Come down and see us. Click here to see our Chicago pawn shop locations.
APR as low as 36% to 240%
You may choose a loand period from 90 days to up to one year.
Loan may be repaid at any time with penalties.
A 3% to 17% storage fee will apply.
For example, a $100 loan taken out for 90 days would require a repayment of $160.
At Royal Pawn Shop, we will buy or give a loan on any item of value. We pay the best prices for gold
and diamonds in Chicago. At Royal, you can,