Category: Pawnshop London

5 Rare Gold Coins in the UK with Surprisingly High Values

rare gold coins

Coins are among the world’s rarest forms of currency. People have always been enchanted with valuable and rare coins. And coin collecting is a popular and profitable sort of collection. However, the value of a gold coins is widely determined based on several factors. It includes the surviving number, the initial number of the mint produced, the condition, the meltdown value/composition and more.

Well, you may possess a valuable piece of currency in your drawer without knowing it. So let’s take a look at some of the rarest and highly valuable UK coins that are worth looking out for.

rare gold coins

Nonetheless, are you wondering that pawnbroking coins or selling them can be the best way to secure some fast cash? Keep reading till the end to get your answer.

Edward III “Double Leopard” Gold Florin

This Edward III Gold Florin was minted in 1344, and you will hardly find the coin in regular circulation. If you are a metal detecting enthusiast, you can keep up the hope. The Edward II “Double Leopard” Gold Coin was excavated in 1857 in the River Tyne along with the other two coins.

The original value of this rare gold piece was six shillings or nearly 30 pence in the current money. However, the coin was sold privately in 2006 for about £460,000.

George V Penny 1993

You will be fascinated to know that the George V Penny 1933 is a ‘pattern coin’, which makes this UK coin so unique. This coin was actually an archetype that did not ever go into production. However, only four George V Penny gold coins are available.

Very few coins were in production in 1933 because the Royal Mint manufactured many coins the previous year. Nonetheless, this UK coin sold in 2016 for about £72,000.

George V Sovereign 1917

Minted during World War I in London, this coin was not particularly rare. This is because about 1 million sovereigns were manufactured for reserves of the Bank of England. Moreover, virtually all the coins helped pay for the war after being exported to the USA. They supposedly stayed in Fort Knox and eventually underwent melting to make bars.

In 2012, a George V Sovereign fetched £11,000 at an auction.

Elizabeth II 1983 Two Pence Gold Coin

These coins are rarer and highly valuable, thanks to a technical error. Sound interesting? The fact is that every coin until 1982 featured “New Pence” engraved on its rear side. However, after 1982, the mint production house changed the wording to manifest the coin’s value.

Interestingly, a series of two pence coins with wrong wording turned up in 1983. And the Royal Mint is not sure about the total numbers of the coins produced with this error. Well, the Elizabeth II 1983 Two Pence Gold Coins sold for more than £500 at auction.

Elizabeth II Bank of England 300th Anniversary 1994 Two Pound Coin

This Elizabeth II Two Pound Gold Coin turned up for commemorating the Bank of England’s 300 years. However, these coins are 22ct gold proof and are 1000 in numbers. Their value is about £2,500.

Well, you may not have these exceedingly rare gold coins in your collection. But you may have others, and the one in your drawer can be worth a significant amount of money. And your gold coin can indeed serve as an excellent asset to use as collateral for a pawn loan.

Get an instant loan against your gold from the trusted pawnbrokers online, The Luxury Hut. What you have to do is fill in an online form with details of your gold asset. Or call on 0207 242 9160 to obtain a free loan quote right away and book an appointment at our Hatton Garden office. Unlike many pawnbrokers, we pay spot cash.

Five Sparkling Gem-Set Luxury Watches from Watches and Wonders 2021

Luxury Watches From Watches And Wonders 2021

Watch enthusiasts and collectors across the world caught sight of brand new releases at Watches and Wonders 2021. Leading brands in the watchmaking industry, including Rolex, Patek Philippe and Cartier, turned up with their new 2021 novelties at this event.

However, besides the classic models featuring the signature style or design of respective watchmakers, Watch & Wonders 2021 also presented some super-stunning gem-set watches. Thus, So let’s glitter our eyes taking a look at some of the exclusively sparkling gem-set timepieces released at Watch & Wonders 2021.

Want to get a loan against your luxury watch? Get in touch with the trusted pawnbrokers in London at The Luxury Hut.

Jaeger LeCoultre Reverso One Precious Flowers

Jaeger LeCoultre introduced the sparkling Reverso One “Precious Flowers” as a new novelty in 2021. The watchmaker designed the watch taking inspiration from the “Roaring 20s”. However, the timepiece is wholly adorned with diamonds and flaunt purple arums on pink gold. According to Jaeger LeCoultre, the Reverso One Precious Flowers watch symbolises passion and charm.

Cartier Libre Baignoire

For 2021, Cartier introduced a magnificently artistic watch featuring geometric shapes. The geometric dial flaunts randomly snow-set brilliant-cut round diamonds, sapphires and anthracites. Moreover, You can also see the hexagon corners of the timepiece embellished with diamonds and sapphires.

Cartier has never let its fans and collectors down. Its high jewellery watches perfectly exemplify its ingenious expertise in watchmaking.

Vacheron Constantin Egerie Selfwinding Pink Gold

The new Vacheron Constantin Egerie Selfwinding watch debuted at the 2021 Watches And Wonders with an 18ct pink gold case. However, the 35mm pink gold case showcases an 18ct white gold dial adorned with round brilliant cut diamonds. Furthermore, What completes the classy look of the watch is a warm grey satin or dark brown alligator strap.

This Vacheron Constantin Selfwinding watch offers a power reserve of 40hours. Moreover, it has a calendar aperture, hours, minutes, stop-seconds device and a second in the centre.

Bulgari Allegra Cocktail Watch White Gold

The watch industry caught a glimpse of more colourful watches this year, and the new Allegra Cocktail model from Bulgari perhaps tops the list. However, it’s the watch’s case that takes the limelight.

The Bulgari Allegra Cocktail watch features multi-coloured cabochon and faceted gemstones in varying sizes on its case. However, the fascinating fact is that Lucia Silvestri, the creative director of Bulgari’s jewellery division, helped in choosing every gem used in the timepiece.

Featuring a unique design and colour case layout, the Bulgari Allegra Cocktail stood out at Watches & Wonders 2021.

Hublot Big Bang Integral Tourbillon

The Big Bang is among the most iconic and popular collections from Hublot. The watches of the Big Bang line are celebrated and coveted for their unrivalled sporty elegance. And with the new Big Bang Integral Tourbillon, Hublot takes it a notch higher.

The watch features an 18ct white gold case adorned with nearly 484 baguette-cut diamonds. Moreover, the watchmaker equipped the case back with a sapphire crystal and forty-eight diamonds. The diamond-set bracelet also complements the gem-set case.

The Luxury Hut London pawnbrokers offer a quick, secure and hassle-free way to get a loan against watches. Fill in our online form or call on 0207 242 9160 for an instant competitive loan quote.

Top 5 Watches that Boast the Highest Resale Value

Top 5 Watches - Highest Resale Value

What are the factors that determine a watch’s resale? Is it a brand’s compelling legacy or craftsmanship? Or does the value depend on the technicalities or inner workings?

Perhaps it depends on the materials, precious metals and the addition of diamonds. Or maybe the price fluctuates according to the number of celebrities or iconic personalities associate with a particular watch. However, the fact is –

A watch’s value is determined considering all the above factors. Watch experts always remain keen-eyed to track each minute change in price. Watches from leading giants like Rolex, Patek Philippe and Omega tend to retain higher resale value in the pre-owned market than others.

Continue reading below to explore the top five watches that hold the best resale value.

Want to get a loan against your watch in London? Get a free competitive loan quote instantly from The Luxury Hut pawnshop in London.

Rolex Daytona

Picture Courtesy: rolex.com

The Daytona is among the most iconic and coveted Rolex collection in the luxury watch industry. In 1963, Rolex introduced the Daytona as Reference 6239. Thanks to the tachymeter bezel, race car drivers could now easily measure their car speed per hour and production rates.

The Daytona Reference 6239 braced the wrists of the iconic racer and actor Paul Newman. However, many people began referring to Reference 6241 as the “Paul Newman” Daytona. This watch was one of the first models to feature exotic dials, and Newman was seen strapping one in a picture.

Today, watch collectors and fans consider this timepiece as the Holy Grail. Some of the Daytona timepieces having the highest resale value also include Reference 16520 and Reference 116506.

Patek Philippe Aquanaut

Picture Courtesy: patek.com

The Patek Philippe Aquanaut made its debut in 1997 and attracted young, sportier collectors. The first Aquanaut model was Reference 5060A featuring a rounded octagonal 35.6mm case. Moreover, the watch could accompany you underwater up to a depth of 120m.

The Aquanaut features a black guilloche dial and saltwater, bacteria and UV-resistant “tropical” strap. However, some popular models with high resale value include Reference 5167A-001/5167A and Reference 4960.

Rolex GMT-Master II

Picture Courtesy: rolex.com

Another iconic collection from Rolex is the GMT-Master II. Rolex designed and produced the GMT-Master to meet the needs of Pan American World Airways. In 1954, the GMT-Master Reference 6542 made its debut as part of Rolex’s professional collection.

Rolex released the GMT-Master Reference 1675 in 1959. Interestingly, it was the first model to have the words “Superlative Chronometer Officially Certified” engraved on the dial. Later in 1983, the Reference 16760 debuted with a rotatable bezel. It tracked the time of a third-time zone.

Some noteworthy GMT-Master II models include the blue-&-red bezel “Pepsi”, black-&-red bezel “Coke”, gold-&-brown “Root Beer” and blue-&-black “Batman”. These are some of the most coveted Rolex models with the highest resale value.

Omega Seamaster 300 Master “Spectre”

Picture Courtesy: omegawatches.com

Omega released the Seamaster 300 “Spectre” to celebrate the brand’s collaboration with the James Bond franchise. This 20th anniversary Seamaster debuted as a limited edition timepiece, pairing the popular Bond NATO strap. The watch also featured a black bi-directional bezel and a “lollipop” seconds hand.

Daniel Crag strapped the Seamaster “Spectre” in the movie Spectre that hit the theatres in 2015. This particular Omega watch is popular and highly coveted among watch collectors and James Bond fans alike.

Rolex Submariner

Picture Courtesy: rolex.com

The iconic Rolex Submariner needs no introduction – another cornerstone collection that elevated the standards of luxury watchmaking. Rolex released two Submariner watches in 1954 – Reference 6204 and Reference 6205. They were the first watches with acclaimed water-resistant ability up to 100m.

Over the years, Rolex has upgraded the collection adding Cyclops lens, bi-metal versions and improving water resistance to 300m. However, Submariner’s appearance in James Bond films has also significantly contributed to the watch’s desirability.

Do you own a Rolex Submariner and want to raise some fast cash? Get in touch with The Luxury Hut pawnshop in London now and secure a loan against your watch right away.

Whether it is a vintage Sub or a contemporary model, you are likely to secure the highest credit amount for your watch. Fill in our online form with all the details of your Rolex watch. We will contact you immediately with a competitive quote.

For any enquiries on how our loan process works, call on 0207 242 9160 now.

Ballet & Jewellery Got Hitched Quite Elegantly by Van Cleef & Arpels

Van Cleef & Arpels

The passion and love for ballet have let Van Cleef & Arpels create magnificence in their new ballet jewellery collection. They have come up with exquisite timepieces, ballerina clips, classic repertoire and more.

Van Cleef & Arpels

This collection is one of the much-anticipated ones as history connects ballet with Van Cleef & Arpels pretty intently.

The History That Ties to this Wonderful Ballet Selection:

Ballet has been an intrinsic part of this esteemed jewellery house for almost 100 years now. Louis Arpels, one of the co-founders, was quite passionate about dance and his nephew Claude often accompanied him to the Opéra Garnier. It was close to the brand’s boutique on Place Vendôme.

Picture Courtesy: vancleefarpels.com

There, in the gilt and royal auditorium, they watched many shows as ballerinas twirled and leapt across the stage. Every movement was like a demonstration of strength, poise and elegance. These remembrances were relatively fresh in mind, like floating images of the performances. Back at the workshop, Arpels toiled by envisaging their fluid movements and sophisticating tutus in the sparkle of precious metals and gemstones and brought the ballerinas back to life once again.

Ballet Précieux High Jewellery Collection:

In honour of the 40th anniversary of ‘Jewels’, the most significant ballet of the 20th century, Van Cleef & Arpels has created the Ballet Précieux High Jewellery selection. This collection proudly highlights the beauty of rubies, emeralds, and diamonds.

Picture Courtesy: vancleefarpels.com

To retain the importance of dance in the collection, they primarily worked with Benjamin Millepied, a former principal of the New York City Ballet and founder of the LA Dance Project company. This brilliant collaboration culminated in creating the Gems trilogy, an actual work of art that complements Balanchine’s choreography explicitly.

The Ballerina Watch Collection:

The ‘Jewels’ was the key focus of the complete collection. Van Cleef & Arpels is so influenced by the whole ballet idea that they have also introduced the latest watch collection with the same spirit. They have endeavoured to recreate the three ballet masterpieces on people’s wrist, which is exceptionally stunning. Just as Louis Arpels brought the ballerinas to life through the priceless diamond clips and other jewellery pieces, the brand’s artisans, enamellers, and watchmakers have successfully recreated the entire ballet performance right on the dial with ballerinas, music, choreography and what not.

They have created magic that can be worn in the hands. On the watch, the baroque-style dial represents the theatre stage. Here, the drapes draw apart to exhibit ballerinas’ miniature paintings.

Picture Courtesy: vancleefarpels.com

This is a stunning 20-second musical animation that can be activated whenever you want by a pusher at 4 o’clock. Much more than just any timepiece, this innovation of Lady Arpels Ballerines Musicales is an artistic performance in miniature.

Lady Arpels Ballerine Musicale Rubis timepiece made a performance on the famous Stravinsky’s Capriccio. However, you can hear more than 92 notes of the piano piece. This is the ultimate jaw-dropping feature of the complete collection.

Loan Against Your Jewellery When You Need Fast Cash:

If you are looking for a trusted pawnshop for your jewellery, we might be the right option. You can also get a loan against diamond jewellery quickly and get the highest possible amount of credit loan in the market.

Just provide some information and get a free estimate in minutes on your phone or via email. We also offer easy and free home pick-up when you pawn jewellery with us. Connect with us to learn more about how fast you can pawn your jewellery with us, visit: https://www.theluxuryhut.com/loan-against-jewellery/

4 Things You Should Know About Pawnbroking

4 things you should know about pawnbroking

Pawnbroking is a simple and straightforward way to raise some fast cash using anything valuable as collateral. Indeed, it is a much easier and hassle-free way than other traditional methods of getting a loan.

4 things you should know about pawnbroking

A pawnbroker allows you to borrow cash based on your collateral’s value. You will obtain an instant pawn loan without any credit checks.

However, today professional pawnbrokers in London or any other big cities are continually working to make the pawnbroking process more comfortable and convenient than it has ever been.

Thus, more and more people today from all walks of life are looking for trusted pawn shops to secure a pawn loan and meet their short-term financial needs quickly.

Thus, for those who are not acquainted with the process of pawnbroking, here are some of the essential things you should know before heading out to a pawnbroker for a collateral loan.

Best Way to Raise Instant Cash

People often face the need to raise some fast cash, maybe to pay bills, invest in a new asset or to finance a vacation.

Thus, one of the best ways to obtain a little extra cash is by choosing to pawn a luxury asset. However, a pawnbroking loan is the most convenient choice for those with poor credit history.

When you bring in an item of value, your pawnbroker will evaluate your asset precisely. He/she will make a cash loan offer based on the current market value of the pawned item.

If you accept it, the pawnbroker will pay you instantly and keep the collateral securely for the contract period.

Assets you can pawn

Customers can typically consider anything valuable as collateral for a pawn loan. But it is essential to keep this mind:

  • The assets accepted as collateral may vary from one pawnbroker to another.
  • Thus, before deciding on a particular pawnbroker, it is essential to check what assets the pawnbroker accepts to lend.

However, items that are universally accepted include precious jewellery and luxury watches.

And The Luxury Hut pawnbrokers London is the only name to trust if you want to secure the highest possible amount of credit loan against watches, diamond or gold jewellery.

Pawnbroking Loans

The maximum tenure of a pawn loan is usually six to seven months. The Luxury Hut pawnbrokers in London lend against luxury watches, diamond and gold jewellery.

Customers are required only to provide valid ID proof to enter an agreement with us.

  • Once you accept our loan offer, sign your pledge receipt, and we will pay you instantly.
  • However, you will have to make a single payment at the end of your loan term.
  • A customer will pay only the interest for the loan months he/she borrowed for.

Moreover, you can retrieve your collateral any time within the loan term, paying off the loan amount and the interest due.

At The Luxury Hut, we do not have any hidden charges or early retrieval fees.

Know the value of your asset

At The Luxury Hut, our expert evaluators assess an item that customer want to pawn precisely. We determine its accurate value, considering its condition, age, brand, metal, and other relevant factors.

We make a final competitive cash loan offer based on the current pre-owned market price.

However, it is essential to know the value of your asset before bringing in to any pawnbroker.

Thus, if you want to know how much your item is worth, fill up this online form now and get a free valuation.

Moreover, for those who are wondering how much you can borrow against your item.

Or call us at 0791 747 2203 for an instant appraisal over the phone or to book an appointment at our office in Hatton Garden, London.

The Luxury Hut pawnbrokers in London aim to beat any high-street pawnbroking rate. Thus, get in touch with us today.

4 Popular Breitling Navitimer Watches

4 popular breitling navitimer watches

Breitling has been one of the world’s most successful and recognised watchmakers. The brand has been a golden standard in the luxury watch industry, initially established in 1884 for meeting the needs of aviation professionals.

4 popular breitling navitimer watches

Since then, Breitling watches have been known for their top-notch performance and precision.

And the classic Navitimer is ideally the most iconic and well-recognised chronograph of the brand’s lineup.

Watch aficionados can hardly ignore the unique charm and personality of the Navitimer.

Interestingly, if watch lovers are asked to make a list of some iconic luxury watches, the Breitling Navitimer will ideally rank fourth or fifth following up the models like the revolutionary Rolex Daytona, the iconic Submariner and the Omega Speedmaster.

Thus, let’s today explore some of the famous and well-known Breitling Navitimer references that cherished and coveted by collectors for timeless aesthetic and persona.

Breitling Navitimer 01

The Breitling Navitomer 01 comes in contemporary case diameter, yet staying true to its original.

This pilot’s watch features an oversized 43mm case diameter with 14.6mm thickness.

  • However, the dial typically flaunts index hour markers, polished hands, printed seconds and fractions of seconds track.
  • There is also a big central red seconds-hand that tracks time up to 1/4th per second.
  • Moreover, the Breitling Navitimer 01 houses the brand’s patented Calibre B01.

It is a column-wheel self-winding chronograph that is fitted with 47 jewels and offers 70hours of power reserve.

Breitling Navitimer World

The Breitling Navitimer World features a 46mm stainless steel case with 15.5mm thickness.

  • The brand offers the model in different dial variations like silver-toned index markers on a black dial or a blue dial.
  • However, the watch comes with a large red arrow-head hand that indicates a Second Time Zone.

The Navitimer World watch sports a Slide-Rule bidirectional turning bezel.

It helps in calculating several things like nautical kilometres or miles, climbing times or fuel consumption.

Breitling Navitimer 1461

Next on this list, we have the Breitling Navitimer 1461 that features a 46mm steel case size.

Interestingly, the watch flaunts an exclusive blue “Aurora” dial, as well as sub-dials.

  • However, the dial comes with applied steel luminous index hour markers, polished luminous-filled steel hand, and seconds & a fraction of seconds track.
  • The Navitimer 1461 also comes with a large arrow-head red hand and the Slide-Rule bezel complication.
  • Moreover, the watch is equipped with 38 jewels and has nearly 42hours of power reserve.

Breitling Navitimer Cosmonaute

And on number four, we have the exclusive Breitling Navitimer Cosmonaute, designed especially for space travel.

Breitling fitted the model with a 43mm stainless steel case in satin/matte finish and has 13.85mm thickness.

However, the manufacturer treated the steel case with a durable carbon-based black finish.

Now:

The matte black dial displays the time in a 24-hour format, designed exclusively for space voyages.

  • The fact is that the 24-hour mode helps the astronauts from any confusion between AM and PM.
  • Moreover, the Breitling Navitimer Cosmonaute features the bi-directional Slide-Rule turning bezel.

The watch consists of 39 jewels and offers power reserve up to over 70 hours.

Are you looking to pawn your luxury watch in London?

For those who are looking to pawn luxury watches and raise instant cash, get in touch with the trustworthy pawnbrokers in London at The Luxury Hut.

We at The Luxury Hut offer a secure and straightforward way to pawn luxury watches online or via appointment.

As the trusted pawnbrokers in London, we aim to lend the highest amount of cash loan against any luxury watches pawned with us.

With expert evaluators always on hand, we determine an accurate price of a luxury watch, considering all essential aspects and current market price.

Are you wondering can you pawn a Rolex watch? Then, the answer is yes.

Our process of pawnbroking is simple and convenient. It may take as little as some hours to complete.

  • Fill up our online form
  • Receive a free competitive quote
  • Send your watch or bring in at our office in Hatton Garden, London (by appointment)
  • Get your final cash offer
  • Accept it & get paid within minutes.

Call us on 0791 747 2203 for an instant appraisal over phone or to book an appointment.

Why a Gold Loan is a Better Option to Get Extra Cash?

Gold Loan is a Better Option to Get Extra Cash

A gold jewellery piece can represent strong emotional ties, but it is also a significant investment. Whether it is broken, tangled or in any worst condition, gold is gold. It is worth money.

Gold Loan is a Better Option to Get Extra Cash

However, today it’s worth more money than it ever has been. Thus, pawning your gold and getting a loan against it is an excellent way to raise some extra cash instantly.

Although getting the best possible deal is not always easy, many trusted pawnbrokers in London like at The Luxury Hut ensure to offer a fair quote and eventually, the best possible amount of cash loan against gold.

Thus, you can choose to pawn gold with full confidence and secure maximum cash for gold justify away without any hassle.

Here are four reasons why the gold loan is a better option to raise extra cash. Have a look!

Quick and Easy process

You can pawn your gold jewellery with any reliable pawnbrokers in London or any other big cities and get instant cash for gold quickly. Your pawnbroker will evaluate your precious asset precisely, considering all relevant aspects and current market price.

He/she will make you a cash loan offer. Accept it and get paid immediately. However, The Luxury Hut pawnbrokers gold provide a simple, quick and secure way to get a free instant quote.


No credit checks

Unlike a bank loan or any other traditional lending institutions, pawnbrokers do not carry out any credit checks before approving you a loan. The pawnbroker will lend you money based on the value of the gold jewellery item you leave as collateral.

If you are satisfied with the amount of cash loan for gold offered to you, your pawnbroker will only ask to provide proof of ID and sign a pledge receipt to enter the agreement.

Flexible repayments

Customers can pay their gold loan any time within or after the contract expires, by paying off the original loan amount and its interest due. However, you will not have to pay any early redemption charges if you retrieve your loan before your loan term ends.

Default on your loan will not affect your credit score

The Luxury Hut London pawnbrokers offer 14days cooling off time after a contract expires. You have to draw out the agreement within this time and pay the interest for the loan term.

However, the best part is that the pawnbroker may help you to renew your loan if you fail to retrieve your asset within the time mentioned above. You will get a new contract, and an added seven months to pay back the loan against gold.

Are you ready to pawn your gold? It is fast and straightforward.

If you are looking to get an instant gold loan, begin the process by –

Filling up our online form and get an initial price quote.

If you are satisfied with it, send your gold jewellery to us. Or, call us on 0207 242 5411 to book an appointment and visit our office in Hatton Garden, London with your asset.

Expert evaluators at The Luxury Hut are always on hand to offer seamless service to customers who are looking to get a loan against gold. We will make you a final cash loan offer. Accept it and get paid immediately in cash or via your preferred method of payment.

What is a Pawn Shop?

What is a Pawn Shop

The origin of a pawn shop can be traced back to 3,000 years when the practice of acquiring credit was common among the peasants. Pawnbroking is one of the oldest professions of the world. Individuals from all walks of life have utilised the services provided by pawnshops throughout the history. While the business model of a pawn shop was once misunderstood, it flourished today as a significant alternative to any other traditional ways of borrowing cash.

What is a Pawn Shop

In fact, pawnbrokers have a long and highly esteemed history of helping people as well as businesses in financially distressing condition.

How does a pawn shop work?

For many years, people across the world have confronted one problem in common from time to time, and that is, the need for quick cash. A pawn shop is a convenient and absolutely, a legitimate place to secure credit loan right away keeping anything of value as collateral. Unlike banks or other traditional lending institutions, a pawnbroker provides a pawn loan without carrying out any credit check.

A pawnbroker determines the amount of cash loan that he/she is willing to offer, based on the current market value and other relevant factors of the asset kept as collateral. If you accept to go ahead with the agreement, the pawnbroker will provide you with a credit agreement and keep your asset safely in secured vaults until you retrieve your item paying off the original loan amount and the due interest.

A Brief History of Pawn Shops

As per the Chinese records, the practice of pawnbroking can be traced back to the beginning of the Western Han Dynasty in 206 BC. While pawnbrokers were significantly more generous in comparison to the modern Western pawn shops, borrowers were able to take up to three years to repay their loans at the fairest interest rates.

The process of pawnbroking started to bloom during the Middle Ages. Pawnbroking was introduced in England by The Norman Conquest, while the Lombardy region of Northern Italy became identified as the seedbed of pawnbroking. A pawn shop is often referred to as ‘Lombard’ in Europe and ‘Lombard Banking’ was a universal term for pawnbroking.

With the condition of lending money at the modest rates of interest, the Catholic Church approved many old pawn shops to work for helping the poor. In the late 19th century and early 20th century, the number of pawnbrokers increased as much as public buildings in Britain, lending money on virtually anything from bed linen, cutlery to the best wardrobes.

It was not that long ago when pawnbrokers were negatively portrayed in the press. The image of pawnbrokers has dramatically changed, especially over the past twenty years or so and today, many people depend on a high street pawnbroker to help them meet their short-term financial needs.

The Process of Pawnbroking Today

When you walk into a pawn shop to take out a cash loan against a luxury asset, the pawnbroker will assess your item explicitly to determine an accurate value based on its overall condition and the current market price. Your pawnbroker will provide you with a credit loan for a specific term without checking your credit history. While there is no minimum period for a pawn loan, the maximum tenure is generally six to seven months.

You can reclaim your asset by paying off the full loan amount along with the interest that was agreed upon by the end of your loan term. Although any trustworthy pawnbroker in London or any other big city usually offer 14-days cooling off time to draw out an agreement, the asset kept as pawn will become the pawnbroker’s property if you do not wish to retrieve within the time mentioned above.

For those who are unable to redeem their item, a pawnbroker may help to get a new contract, extending the loan term. You will only have to pay back the interest you owe.

Although the rules and regulations governing the pawnbrokers may vary from place to place, all pawnbrokers are today heavily supervised and required to get a license for trading from the Financial Conduct Authority.

If you are looking to raise instant cash and own something valuable, begin your search online and choose a reliable pawnbroker in London or anywhere in the UK to secure a pawn loan without any hassle.

5 Interesting Facts You Probably Didn’t Know About Pawn Shops

5 Interesting Facts You Probably Didn’t Know About Pawn Shops

Pawn shops first turned up more than 3,000 years ago. A pawn shop used to provide credit to the peasants while being regulated by Imperial authorities. While pawnshops once had an ugly disgrace for taking advantage of the poor, its business model was also misunderstood. The upturn in the pawnbroking industry came during the 1980’s credit boom, and it continued to thrive today serving as the most convenient way to raise cash in short-term financial needs.

5 Interesting Facts You Probably Didn’t Know About Pawn Shops

Pawnbrokers, including your trustworthy local pawnbroker in London, come with a fascinating historical background. If you are interested to know, take a look at some of the facts given below that you probably did not know about pawn shops:

1. Pawnbroking for voyage

Queen Isabella of Spain was reportedly known to have pledged her crown to fund the first journey of Christopher Columbus to the New World in 1492. Recently, this notion has been deflated, and it is said that Queen Isabella already had pawned many of her jewellery before Columbus was ready to sail.

The pawned jewellery items of the queen included a necklace adorned with ruby and pearls that she received as a wedding gift from King Ferdinand and the crown of Castile. While Queen Isabella pawned her jewellery to pay for the campaigns against the Moors and to raise money for the Spanish Inquisition, it is also believed that she may have pawned some small pieces to Columbus. This was an endorsement that brought many other investors like the Santa Hermandad Police Organisation.

2. The Patron Saint of Pawnbrokers

The patron saint of pawnbrokers, Saint Nicholas preserves a legacy as one of the most kind-hearted human beings to have ever existed on the earth. As the story goes, Saint Nicholas who was known for his benevolence gave three bags of gold each to three impoverished girls so that they could get married.

It is also often believed that he dropped the bags in secret, down the chimney so that no one could know the benefactor.

3. The Symbol of Pawnbrokers

The three gold spheres hanging from a bar is the international symbol of pawnbrokers. While there are many stories related to the origin of this symbol, some people associate it with the famous Medici family of bankers, monarchs and also, Popes.  As the legend goes, a member of this clan killed a giant with the help of three bags of rocks.

Some believe that the three balls represent these three bags of rocks, while others say the three spheres are symbolic of the story of Saint Nicholas and his three bags of gold.

4. The Pawn song ‘Pop! Goes the Weasel’

The nursery classic ‘Pop Goes the Weasel’ dates back to at least the mid-19th century. In one of the British versions, the song seems to be tied to pawnbroking.

Take a Look at these lines:

‘Up and down the City Road

 In and out of the Eagle

That’s the way that money goes

Pop! Goes the Weasel’

Here, the word ‘Eagle’ may refer to the popular Eagle Pub of London and ‘weasel’ has been assumed to be the ‘Cockney slang’ for jackets. Thus, the song may indicate that a patron has spent much on alcohol and so, had to pawn his coat.

5. Jewellery is the most common pawned item

Although the assets accepted as collateral may vary from one pawnbroker to another, the most common item that people consider to pawn and also universally accepted is jewellery. Gold, silver, diamonds and other precious gems possess inherent value.

Moreover, jewellery items often bear a sentimental value, and it ensures that customers will return to reclaim them by paying off the loan amount and the interest due.

Should I Sell My Jewellery to a Pawnbroker?

sell your jewellery

Many of us had experienced an unanticipated time in our lives when we required some money at short notice for different reasons. While there are many ways to raise some extra cash, people in today’s society realise the benefits of using the more convenient services rendered by a pawnbroker to get money.

sell your jewellery

Like many others, you may have some jewellery items that you loved once but for whatever reasons you no longer need or want them. You may have your Grandma’s vintage diamond ring that you never actually wore, while others may have some gold necklaces and bracelets that are out of style or broken. Whatever may be your cause, selling jewellery straight away and acquiring cash in exchange for them often appears to be the most convenient thing to do rather than enabling them to sit around your house and collect dirt.

But when it comes to choosing the most straightforward way you can avail when selling your jewellery, you may wonder:

‘Is selling jewellery to a pawnbroker the best option for me?’

If you are having a tough time deciding whether it is better to sell your jewellery to any high street pawnbroker in London or walk into a local jewellery shop, have a look at the benefits to sell jewellery at a pawn shop, be it is online or via appointment to get the most out of your time as well as your valuables.

  • Flexibility

While most of the jewellery shops look for jewellery items that are in mint condition, pawnbrokers serve as a more flexible option when it comes to obtaining cash for gold or selling diamond jewellery. Although many essential aspects are taken into consideration like the condition, age, weight and many others to determine the actual value, a trustworthy local pawnbroker always aims to provide its customers with the best market price, often based on the inherent value of a jewellery item.

Whether you want to sell a vintage gold ring that is in poor condition or sell your engagement ring of a designer collection, you can sell your jewellery securely and straightforwardly to an experienced and reliable pawnbroker, obtaining the highest value possible for your asset. Many high street pawnbrokers in London offer a viable online platform to sell jewellery quickly and more comfortably from anywhere all over the UK.

  • Value

A professional pawnbroker continually monitors the ever-changing market prices of the precious metals like gold and platinum; thereby evaluating a buying price accordingly that may be more than the value a high street jewellery shop offers.

As with any jewellery item, the final price of your asset that your pawnbroker is willing to provide will be based on the value of the precious metal and gemstones like diamonds, emeralds or rubies (if any), regardless of its age or style.

  • Fast transactions

When in dire need of quick cash, it may often feel embarrassing to wait for a jeweller to examine and evaluate an asset, carrying out surprisingly a slow process. Although a pawnbroker assesses every factor precisely to determine an accurate value, you can receive a price quote in less than no time by directly calling or filling up an online form.

With a reliable high street pawnbroker, you can rest assured to carry out transactions of any size quickly and securely both online and visiting the premises (by appointment). Once you agree to the final offer, your pawnbroker will pay you right away.

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