Common Misconceptions About Pawn Loans

TL;DR: Pawn loans don’t touch your credit, your items are insured and securely stored, reputable shops give fair market-based offers, and you keep full ownership rights as long as you repay.

Pawn shops are one of the oldest forms of lending, but plenty of myths persist. Let's clear up the most common ones.

Myth: "A pawn loan will hurt my credit."

It won't. There's no credit check to get one, and nothing is reported to the credit bureaus — even if you decide not to repay and forfeit the item.

Myth: "My item won't be safe."

At The Roswell Silver Dollar, your item is fully insured and stored securely — in our case, in a secured, temperature-controlled facility and if it's jewelry or another high value item like a Roles, it's stored in fireproof vaults with 24-hour video monitoring. We ensure you get it back in the same condition you left it.

Myth: "Pawn shops lowball you."

Good shops base offers on current market value and professional grading, and explain how they got there. We encourage you to shop your quote around — and we'll honor our offer when you come back.

Myth: "If I pawn it, it's gone."

Not at all. With a pawn loan you retain the right to reclaim your item by repaying the loan plus interest within the term, which you can extend as needed.

Have questions or want a free, no-obligation quote? Contact us or call 678-264-8899 — walk-ins are always welcome at our Roswell store.

Frequently Asked Questions

Will a pawn loan show up on my credit report?

No. There is no credit check to get a pawn loan, and nothing is reported to the credit bureaus — even if you choose to forfeit the item instead of repaying.

What happens to my item if I do not repay?

You simply forfeit the item and owe nothing further. There is no collections process and no impact on your credit. Until then your item is insured and securely stored.

Do I need an appointment or good credit?

Neither. Walk-ins are welcome and there is no credit check — a pawn loan is secured only by your item.

Do you keep my ID information?

Georgia law requires pawn shops to record a valid government-issued photo ID for each transaction. Your information is handled securely and used only as required by law.

What kinds of items can I get a loan on?

Jewelry, watches, gold and silver, coins, firearms, electronics, and luxury goods are all common. If you are unsure, bring it in or give us a call and we will take a look for free.

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