Pawn FAQs

Q?

Who uses pawn shops?

A.

In today’s society, many people depend on pawnbrokers to help them meet daily financial needs not offered by other institutions. Pawn customers represent the working families of America who periodically experience an unexpected need for short-term funds. Pawn loans keep the electricity on, the rent paid and cars running with full tanks of gas.

Q?

How does pawn work?

A.

A pawn is another term for a collateral loan. Pawnbrokers lend money on items of value such as gold and diamond jewelry, musical instruments, televisions, electronics, tools, household items, and more. Some pawn shops may specialize in certain items. At Windy City Jewelry and Loan, we take a wide variety of items.

Loans are based on the value of the collateral. When you pay back the loan, your merchandise is returned to you. Windy City Jewelry and Loan always offers extensions or renewals, ensuring that you are always able to get the time you need and keep the items you want.

Q?

What’s the difference in selling and pawning?

A.

Pawning your item means the item is still yours. You are just leaving it with us until you pay back your cash loan. Once your loan is paid back, you take your item back home with you. Selling your item is a one time transaction in which you give up ownership of an item and receive cash. That item then becomes the property of Windy City Jewelry and Loan.

Q?

Do pawn shops sell stolen merchandise?

A.

At Windy City Jewelry and Loan, we go the extra mile and beyond to make sure that all inventory is legitimate. In fact, did you know that less than half of one percent of all merchandise at pawn shops are identified as stolen? Despite what you see in movies, quality pawn shops like Windy City Jewelry and Loan work very hard to make sure all merchandise bought and sold is legitimate. Pawn shops actually work very closely with law enforcement at a local and federal level. At Windy City Jewelry and Loan, our staff is trained to identify stolen property. There are a few ways that we ensure all goods sold at our Evanston and Elgin locations are legitimate.

Every individual that sells an item must have a valid government issued ID. Once we have the ID, our staff scans a digital copy which we send daily to local law enforcement. Windy City Jewelry and Loan also updates leadsonline.com, a database for every pawn transaction, which is then shared with law enforcement nationwide.

It is important to note that only law enforcement can assist you in matters of stolen items. If you had an item stolen, contact local law enforcement. Under no circumstances can Windy City Jewelry and Loan share information about our transactions with anyone except law enforcement. We respect the privacy of our customers.