Pawn shops offer folks a way to secure cash if they're tight on resources. Since any loans extended are backed by an asset, pawn shops can sometimes extend relatively low interest rates to people who may have trouble accessing credit from banks and the like. If you're considering approaching one for a loan, you might wonder what items should fetch the most money. Let's dig in.

Jewelry

One of the most valuable and common things to pawn is jewelry. Often, jewelry will contain precious metals, gemstones, and other things that are very valuable. Jewelry is also a more liquid market, and it's relatively easy for pawn shops to sell the jewelry if they need to. Jewelry is also small and easy to store. Further, the value of jewelry may increase rather than decline over time.

Precious Metals

Precious metals are another thing that can fetch a fair bit of money at a pawn shop. Like jewelry, the metals themselves are very valuable. Consider that, according to Investopedia, the price of gold topped $1,870 an ounce in February 2023. Better yet, the precious metals market is one of the most liquid in the world, so pawn shops know they'll be able to sell the metals easily.

Keep in mind that precious metals may come in the form of coins or bars. Pawn shops need to be careful and make sure that the metals are real and unadulterated. Fortunately, there are a variety of tools that make that relatively easy.

Power Tools

Power tools, including drills, saws, lawnmowers, and more, are often in high demand and they're rather expensive. Compared to some electronics, they also do a better job of holding their value. A five-year-old computer may no longer be worth much, while a five-year-old drill could still be worth quite a bit. As such, pawn shops will often shell out a fair bit of money for the right power tools. They do need to be in good working order, however, to get the most money.

Many other things can fetch a fair bit at a pawn shop. Antiques, sporting equipment, and musical instruments are often in high demand and can hold their value pretty well. If you'd like to learn more about what things pawn shops tend to favor, feel free to reach out to our experts here at Alpha Pawn & Jewelry. Contact us today!