Melrose Cash Express Jewelry
Precious metal and diamonds that accessorize the jewelry in our shops. This authentication process includes a visual inspection using a jeweler’s loupe, weighing the item, sizing any diamonds (carat weight) and noting the cut, color and clarity of each. In addition, each piece of jewelry is tested using a special acid that determines the karat of the gold. These tests confirm the quality, authenticity and value of the jewelry you are buying.
How We price our Merchandise
Melrose Cash Express, authenticates the precious metal and diamonds. This authentication process includes a visual inspection using a jeweler’s loupe, weighing the item, sizing any diamonds (carat weight) and noting the cut, color and clarity of each. In addition, each piece of jewelry is tested using a special acid that determines the karat of the gold. These tests confirm the quality, authenticity and value of the jewelry you are buying.
Question & Answer
What is a pawn?
A pawn is simply a loan based on the value of your collateral.
1. You bring us your merchandise that you want to get a loan on,
2. We appraise the merchandise and offer you a cash loan based on its value.
Do I need good credit or proof of employment to get a loan?
No. Good credit, bad credit, no credit, unemployed… It doesn’t matter.
Since pawns are based solely on the merchandise that you put up for collateral, no credit checks or employment verifications are performed, making it the easiest way to get fast cash.
What type of information do I need to acquire my loan?
We require identification in the form of valid state I.D cards, driver’s license, passport, or other government issued photo identification. We do not accept a photo copy of an I.D, student I.D. cards, or any type of non government I.D. What do you do with my information? Information is obtained so that we can keep track of your merchandise and know what item belongs to whom. We are required to report all information regarding transaction to law enforcement to prevent stolen merchandise and other unauthorized loans. However, we never sell your information or use it for our personal gain.
How long do I get to pay back my loan and retrieve my merchandise?
All loans are for 30 days and must stay a minimum of 48 hours. Then you come to the shop with your receipt and pay the balance of the loan to retrieve your merchandise.
How much interest will it cost me for my loan?
All loans are subject to 20% interest on the amount that you borrow. So for example, a $100 loan will cost you $20 in interest.
If I cannot pick up my loan in the 30 days, do I automatically lose it?
No. You can always extend/renew your loan for an additional 30 days by simply paying your monthly interest charge on or before the maturity date of the loan. Loans can be extended as long as you need as long as you make your interest payment on time. Keep in mind that when you extend a loan, the principle amount of the loan remains the same, but you do get more time to reclaim your merchandise.
What type of merchandise can I pawn?
We accept almost anything for collateral. Gold, Diamonds, Electronics, Tools, Musical Instruments, Collectibles, Antique Coins & Paper Money, Military Memorabilia, Computers, MP3 players, Video Game systems… the list is endless. If you think you item is worth some money, bring it in and we will let you know if and how much you can borrow.
How is merchandised appraised for a loan?
Our professional and knowledgeable staff will appraise your merchandise on site based on multiple variables including current market value, resale value, and type of merchandise you bring in. Our staff has years of experience in the pawn industry and will do the best they can to get you the amount of money that you need.
Is my merchandise safe while being stored?
Absolutely, our facility is secured by 24-hour a day security monitoring services to protect your merchandise. All items are safely stored and protected to make sure that it is in the same condition it was when you dropped it off.
If I already have a loan at Melrose Cash Express, can I get another one?
Sure. You can take additional loans if you need more cash.
What if I cannot personally pick up my loan? Can I have someone else pick up the merchandise for me?
Yes, as long as that person brings in the original redemption ticket and presents their identification. What if I lose my redemption ticket? Does this mean I cannot pick up my merchandise? Not at all, although we ask that you keep the redemption ticket safe and bring it with you when you pick up your merchandise; we understand that things can happen. Just make sure you have your identification with you when you come in to pick up your merchandise. However, keep in mind that without the redemption ticket, it may take us a little longer to find you merchandise since items are logged and stored according to your redemption ticket number and not by name. Also, if you do lose your ticket, you should come into our store and report it as soon as possible. If someone finds your ticket they could potentially pick up your item without your permission, which is why it is very important to treat your ticket like cash and keep it safely in your wallet, purse, or somewhere else where you would store your valuables.
Can I get a loan on firearms?
No. The law prohibits us from dealing with firearms.
I’ve heard that Pawn Shops are a place for criminals to get rid of stolen merchandise?
This is actually very far from the truth. Television and movies often portray pawn shops in an unfavorable way; however, pawn shops are heavily regulated and monitored by state and local laws and law enforcement. Pawn shops and the owners of the pawn shop are licensed by the state and must go through vigorous background checks in order to remain in business. All employees are trained to identify potential stolen merchandise and do their best to keep it out of the store. Pawn shops are actually a bad place for criminals to get rid of their stolen goods since we report all items directly to law enforcement. You’re more likely to find stolen merchandise being dealt on a street corner than you would in a pawn shop.