Frequently Asked Questions

1What is Garden City Exchange?
Garden City Pawn serves our customers in 3 ways: 1). We buy your items of value for fast cash on the spot. 2). We act as a reseller by selling the slightly used merchandise we purchase to customers at a much more reasonable price than retail. 3). We serve as a pawnbroker in which customers can receive a cash loan* in exchange for items of value that serve as collateral.
2How does a Pawn Shop work?
Pawnbrokers are regulated by state and federal laws and offer customers an alternative lending option to traditional loans* from banking/financial institutions, credit cards or family members in order to meet short-term cash needs. The biggest benefit is cash on the spot, in exchange for items of value that serve as collateral for loan* repayment. Items that are not reclaimed at the end of the redemption period are then placed for sale. There is an agreed upon interest rate and timeframe that this loan must be paid back. Once the loan* is paid, the item is returned to you.
3How can I be sure the merchandise I purchase at a pawn shop isn’t stolen?
A report by the National Pawnbrokers Association says that Less than one tenth of one percent of all collateral is even suspect as having been misappropriated in any manner. Thieves and robbers are our worst enemy. We work closely with local law enforcement to catch and prosecute these perpetrators. A customer must provide positive state issued picture identification to show evidence of the transaction. This information is then presented to local & state police agencies , therefore decreasing the likelihood that a thief would bring stolen merchandise to a pawnbroker. We are trained to look for signs of stolen property to avoid these costly mistakes. It is not in our interest to accept potentially stolen merchandise because the police can seize the merchandise. You must also be at least 18 years old to sell merchandise.
4What can I get for my gold?
Gold Values change every day just like the stock market & gold prices are at near all time highs as of this writing in August 2017 which translates to an excellent return to you our customer. Prices change daily so please call anytime for our daily gold buy prices.
5What makes Garden City Pawn different than other pawnbrokers?
At Garden City Pawn, we pay you more money. And we care about our customers. We strive to bring you the best possible experience, which is why our store is clean, organized, safe and friendly. We have an inviting brightly lit showroom and we treat all of our customers with respect.

Garden City Pawn offers the best item-backed loans in the area. Our plans are flexible with a maximum repayment period of 10 years. Our interest rate is 2.9% per month or 35% APR when clients borrow 40%-70% of the liquid wholesale value of their pledged collateral over $10,000. For example, if you have an asset with a liquid wholesale value of $20,000 and borrow $10,000, your interest would be $290.00/month. If you borrowed the money for 3 months, your total payback amount would be $10,870. Loans greater than $50,000 can qualify for even lower rates. If you have any more questions, please review our FAQ page or give us a call.

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