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Do Pawn Shops Sell Cartier Jewelry?

Do Pawn Shops Sell Cartier Jewelry?

by | Apr 2, 2023 | Blog

Those who love the Cartier brand know how pricey brand-new jewelry can be when shopping at your typical retail store. Surely there must be a better way to express the romantic side of your personality at a reasonable price? Don’t rule out your local pawn shop! Rancho Cucamonga, Alta Loma, and Ontario have pawn shops in the surrounding area that are likely to have what you’re looking for and at a lower cost.

The Beauty of Cartier

Cartier is sought out by people who love love. As a company that was founded in France, Cartier specializes in jewelry that symbolizes people’s commitment to each other whether it be through stunning engagement rings, remarkable wedding bands, or the esteemed LOVE bracelet as a pure testament of one’s promise to another. While the meaning behind the design is something to behold, the message isn’t lost on the brand’s dedication to only using high-grade metals and gemstones.

Desirable Qualities of Cartier Jewelry

You’ll only find 18k gold and 950 platinum in Cartier jewelry which places the target market among the high-end and wealthy class. Expert craftsmanship makes each and every piece truly authentic. When you consider the fact that the company was founded as far back as 1847 and is still held in high regard to this day, it’s no wonder that Cartier is among the top 10 jewelry designers of all time. But despite the intended audience, pawn shops allow high-end jewelry to be more accessible to the general public.

The LOVE Bracelet Promise

The LOVE bracelet is one of the most popular pieces by Cartier. Everything about this bracelet symbolizes the undying passion between two people, even down to the method of putting it on your wrist. Each bracelet comes with a small golden screwdriver which is used to secure both halves together and can only be done with the help of your partner as it’s not a task that can be done with a single hand. The design is thin and simple yet elegant and ravishing. And while most designer jewelry is meant to only be worn on special days and during fancy occasions, Cartier’s LOVE bracelet is meant to be worn at all times to represent limitless adoration for your other half.

Other Cartier Jewelry

While the LOVE bracelet is one of Cartier’s more popular creations, the brand isn’t limited to the one product. They are also well known for their intricate rings, more particularly their engagement ring and wedding band collections. They also design regular rings along with other types of jewelry such as necklaces, earrings, and designer watches. But no matter the product, Cartier stays true to its style by offering matching collections across all jewelry types.

Cartier Jewelry Collections
  • LOVE
  • Juste Un Clou
  • Trinity
  • Panthere de Cartier
  • Clash de Cartier
  • Diamond Collection

Each type of jewelry from a certain collection is meant to perfectly complement one another for an effortlessly alluring presence everywhere you go. The engagement ring selection in particular has its own series of collections:

  • Cartier Destinee
  • Etincelle de Cartier
  • 1895
  • Vendome Luis Cartier

How to Buy Cartier From a Pawn Shop

With the time, effort, and dedication put into every Cartier piece, finding one at anything less than ticket retail price seems nearly impossible. However, buying Cartier at a lower price is absolutely possible if you visit the right pawn shops near you. All it takes is having some familiarity with the quality and knowing how to negotiate a fair price so you can make a confident purchase.

Spotting Fake Cartier Jewelry

Since the brand holds the quality of its jewelry to such high standards, it’s actually pretty easy to identify fake Cartier pieces. Once you know exactly what to look out for, the signs can be painfully obvious even to an untrained eye.

Real Cartier JewelryFake Cartier Jewelry
  • Thin, clear, and easy-to-read engravings along the inner band.
  • Centered engraving.
  • Perfectly symmetrical design elements.
  • Clear outer pins with no engraving.
  • Small and thin bracelet bands.
  • Thick, incomplete, faded, and hard-to-read engravings (or no engravings) along the inner band.
  • Misaligned engraving.
  • Inconsistent or crooked design elements.
  • “Cartier” printed onto the outer pin.
  • Wide and thick bracelet bands.

Preemptive Research

Knowing how to point out Cartier imposters is only part of getting a good deal. You also need to look up average market prices for the jewelry pieces that you’re hunting for so you have a rough idea of what’s a fair price when negotiating at a pawn shop. After that, the next step is to find a pawn shop that won’t shy away from that fair price.

Finding a Trustworthy Pawn Shop

How do you know which pawn shop to visit near you? A good sign of a reputable pawn shop is having plenty of positive reviews. It also helps to have many years of experience in the business, especially at the same establishment and location. And even though there are pawn shops that specialize in jewelry, it’s better to go to a pawn shop that deals in all kinds of goods. Jewelry-specific pawn shops will typically raise their prices in order to stay afloat in their niche market while general pawn shops have the flexibility to conduct transactions at a truly fair price. But which local pawn shops meet these criteria?

Pawn Shops In the Rancho Cucamonga Area

Visiting pawn shops in the Rancho Cucamonga, Alta Loma, and Ontario areas is an excellent way to find Cartier jewelry at a lower price. Central Mega Pawn is the best place in the surrounding area for reliable service and a trustworthy staff of industry experts. The clean atmosphere and friendly attitude are just a couple of reasons why Central Mega Pawn has been successful in the community for decades with hundreds of positive reviews online. The shop is open 7 days a week so you can call anytime at (909) 627-9622 to speak to the friendly and helpful staff.

Do Pawn Shops Offer Layaway? (Central Mega Pawn Does)

Do Pawn Shops Offer Layaway? (Central Mega Pawn Does)

by | Mar 16, 2023 | Blog

Once a common option for paying for high-value items, layaway is not nearly as widely available as it was in years past. However, select pawn shops, including Central Mega Pawn in Ontario still offers layaway payments. Read on for everything to know about layaway payment options for premium products.

What is Layaway?

Layaway is a type of buying method that involves placing a deposit on an item, so that the seller “lays the item away” so that other buyers cannot purchase it. It is a way of paying for items, that you want, but need a bit of time to pay the balance. It is typically only used for high-value items. Less expensive items may not qualify for the layaway purchase plan.

The concept of “laying away” items for purchase has its origins in the Great Depression when tens of millions of Americans were living in poverty. Layaway was incredibly popular for many decades, until the credit card market burst open in the 1980s. But from 1930-1980, layaway was frequently used to buy holiday gifts, birthday gifts, and big-ticket items ranging from jewelry to power tools, gym equipment, and more.

Layaway at traditional retailers often involved a down payment followed by a final payment. At pawn shops today, even more latitude is granted to the customer when using layaway. Customers may instead put down a deposit and make a series of payments until the item is paid off. Each pawn shop that offers layaway reserves the right to set its own terms of layaway plans.

Benefits of Layaway at a Pawn Shop

Using layaway to finance an item you’d like to purchase from a pawn shop has several benefits.

1. Layaway Does Not Charge Interest

When you agree to buy an item on layaway, you will not be charged any interest. Instead, the terms of the installment plan will be discussed with you, and you’ll leave a deposit (typically a percentage of the cost of the item). You’ll then make regular payments until the remaining balance is paid off. However, you will not be charged interest. The price that you agree to buy the item for is the price you’ll pay.

2. There is No Fee for Layaway

You won’t find hidden fees affixed to your layaway plan. Layaway is simply a flexible purchasing plan that is offered to customers, with no strings attached. Past due payments may be subject to fees, per the contract.

3. Layaway Increases Your Buying Power

When you use layaway to purchase a luxury watch, diamond engagement ring, or other valuable item, you increase your buying power. For example, consider you find a ring at a pawn shop that you’d like to buy as a gift. The ring is $2,500. But you only have $1,000 available to spend on that day.

With layaway, you can put down just a deposit, ensuring the ring won’t be sold to someone else, and pay off the ring over time. Your $1,000 available funds are increased 2.5x in this example, using layaway.

4. You Don’t Need Good Credit to Be Approved for Layaway

Layaway financing for items at a pawn shop can help customers who do not have good credit. The pawn shop will never check your credit before approving you for a layaway plan. You’ll just need a deposit and a valid form of I.D. to purchase items on layaway.

5. Layaway Prevents You from Maxing Out Credit Cards

When you max out your credit cards, your credit score decreases. Plus, you’ll have to pay back the charges, often with very hefty interest. Layaway allows you to avoid maxing out your credit cards, and therefore avoiding the interest on the charges, which can take years to pay off.

Items You Can Purchase on Layaway at a Pawn Shop

Most high-value items for sale at a pawn shop can be purchased on layaway. These may include:

Can You Cancel an Item You Have on Layaway at a Pawn Shop?

All pawn shops are slightly different. At Central Mega Pawn you may cancel your items on layaway, and you may receive store credit for payments made. You may be subjected to a cancellation fee. The pawnbroker you work with will explain any penalties, and all options available for cancelling items on layaway.

What happens if I’m late on my layaway payment at the pawn shop?

If you cannot make your layaway payment on time, don’t avoid the pawn shop. Call or stop in and let the broker know that the payment will be late. They may agree to keep the item laid away for you if you make the payment within a certain number of days.

How long do I have to make the layaway payments?

Each pawnshop that offers layaway will have their own terms and conditions for layaway. You may have several to many months to pay off your item. Before you agree to purchase anything on layaway be sure you understand the terms and conditions as set by the pawn shop.

How Much of a Deposit Do I Need to Put Down for a Layaway Purchase at a Pawn Shop?

Pawn shops are typically independently owned and operated, and therefore set their own rules and guidelines for layaway deposits. Some may accept as little as 10% of the purchase price as a deposit. Others may require 30% of the purchase price for a down payment. Ask your local pawnbroker for details.

Layaway Available at Central Mega Pawn in Ontario

Central Mega Pawn in Ontario near Pomona and Upland is proud to offer customer layaway installment payment plans for purchases. As the top-reviewed pawn shop in the Inland Empire, we are here to help you to purchase the items you want with no-interest layaway options. Visit us on S. Central Avenue in Ontario to shop using layaway. If you have any questions about our layaway program, feel free to call us at 909-627-9622. You may also send us a message.

Do Pawn Shops Buy and Sell Panerai Designer Watches?

Do Pawn Shops Buy and Sell Panerai Designer Watches?

by | Mar 2, 2023 | Blog

Pawn shops are an excellent place to shop for luxury watches, including Panerai designer watches. Although the main reason you should include pawn shops when shopping for any high-end item is because you may save a fortune, there are many other benefits of shopping at a pawn shop. Conversely, if you’re ready to sell a Panerai designer watch, make sure you take it to a top-reviewed pawn shop before you sell it online. You can save yourself time, hassle, and delays in waiting for payment. Read on for everything to know about buying or selling a Panerai watch at a pawn shop.

What is a Panerai Watch?

Panerai designer watches are among the world’s most coveted watches. However, unlike many of the world’s other designer watches, Panerai watches are Italian, rather than Swiss. The roots of the Italian luxury watches dates to 1860, when Giovanni Panerai opened his first watch shop and watchmaking school in Florence. By the early 1900s Panerai was manufacturing technical equipment for the Royal Italian Navy. Products included dive watches, and precision instruments.

Panerai was tapped to outfit the Royal Italian Navy because it had created Radiomir, which was a self-luminating material allowing divers to see the time underwater, and in the dark. Panerai provided the military with watches and other devices for many years.

In 1993, Panerai and its instantly recognizable luminous watches finally became available to the public. Just four years later, the Richemont Group (formerly the Vendome Group) acquired Panerai. Panerai joined the likes of brands such as Cartier, Van Cleef & Arpels, Jaeger-LeCoultre, and Piaget, and became instantly synonymous with exclusivity and sophistication.

Today, Panerai watches are known for traits such as:

  • Photoluminescent material for low-glow dials and hands
  • Oversized hands
  • Minimal dials
  • Large, cushion shape case
  • Winding crown
  • Oversized hour markers

Brand new Panerai designer watches may be found for around $5,000. Limited-edition Panerai designer watches may cost more than $100,000.

Why Shop for a Panerai Watch at a Pawn Shop?

It’s smart to look for luxury items at pawn shops because of the significant savings you may secure. Consider that used designer watches, handbags, sunglasses, etc., may sell for 30-40% less than the full retail price. With a high-value item like a luxury watch, this can amount to thousands in savings. For example, if you’ve found a Panerai watch you want, but the full retail price is $10,000, you may find the same barely used watch at a pawn shop for $6,000-$7,000. That’s significant savings.

Another reason to shop for exclusive items at pawn shops is because you can often find rare, limited edition, or hard-to-find brands and styles. Because pawn shops buy their inventory directly from individuals, there is no telling what a customer may bring in to sell on any given day.

If you shop from reputable, established pawnshops, you can also rely on authenticity when you buy a premium product. Pawn shops are not in the business of buying fake items, so the likelihood that you’ll purchase a knockoff is very slim.

Should I Sell My Designer Watch to a Pawn Shop?

If you have a Panerai designer watch, that you no longer want, it’s worth taking it to a pawn shop before beginning the process of finding a buyer online. Selling luxury items to a pawn shop offers benefits such as:

  • Instant offer
  • Fast transactions
  • Immediate cash

By contrast, if you decide to try to sell your luxury watch online, you’ll have to identify the right sites to list the watch. Then you’ll have to describe the watch, photograph the watch, and determine the price. Because your watch is valuable, it can take time for anyone to take interest in the watch. In the meantime, you will likely get emails, calls, or texts from nosy, but not necessarily serious buyers. You may have to take the watch with you to show to people you don’t know. Because it’s a high-value item, keep in mind that plenty of people wouldn’t mind getting their hands on it without paying for it.

Once you find a buyer, you’ll need to insure the shipment and trust that it will arrive to its destination safely. Should the piece be lost in the mail, recovering your losses can be impossible, if not stressful. Finally, you’ll need to wait for the payment to reach your account (this also means you’ll need to have some form of online banking, or payment acceptance set up). If you’re exhausted just reading about all the steps, you’ll need to take to sell your luxury watch online, it’s probably in your best interest to take it to a pawn shop.

Before you head out with your watch, it is smart to confirm that a particular pawn shop specializes in luxury items. While some pawn shops specialize in high-end products, others may not buy or sell them.

You may also want to make sure that a particular pawn shop is a member of a respectable industry association such as the California Pawnbrokers Association. This can help you to feel comfortable knowing the shop complies with all local, state, and federal regulations pertaining to pawn shops.

If a particular pawn shop does not make you an offer that you are willing to accept, you can simply walk away and find another shop. But you won’t have wasted countless hours putting the watch up for sale online.

Buy and Sell Designer Items 7 Days a Week in Ontario, CA

Central Mega Pawn buys and sells Panerai designer watches seven days a week in Ontario, CA near Pomona and Upland. As a leading pawn shop serving the luxury market, we also buy and sell jewelry and watches from designers such as Tiffany & Co., Chanel, Harry Winston, Audemars Piguet, Breitling, Chopard and others. We are known for professional service, excellent offers, and fair pricing on luxury goods.

Central Mega Pawn is located at 11031 Central Avenue, in Ontario. For your convenience, Central Mega Pawn is open seven days a week until 6 pm. We also list many of our items in our online store that you may shop 24/7.

Can You Pawn Broken Jewelry?

Can You Pawn Broken Jewelry?

by | Feb 16, 2023 | Blog

It seems nearly everyone has at least one piece of broken jewelry. Even though you don’t wear it, you also don’t want to throw it away. Perhaps you’ll finally get around to having it repaired one day. In the meantime though, did you know that it may be possible to secure a pawn loan using the broken jewelry as collateral? Of course all pawnshops have their own policies about buying or loaning on broken jewelry, but at Central Mega Pawn, we are often able to make pawn loans using broken jewelry as collateral.

Reasons Pawn Shops May Be Reluctant to Extend Loans for Broken Jewelry

Most pawn shops will accept jewelry as collateral for a pawn loan. However, if the jewelry is broken, your options may be a bit more limited. The reason? If you forfeit your item through defaulting on your loan, the only way the pawn shop can recover their loss is by selling the item. Believe it or not, most customers aren’t in the market for broken jewelry.

That means that the pawn shop can only sell the jewelry as scrap silver or gold or choose to have the item repaired. This is one reason that some pawn shops won’t accept broken chains, bracelets, earrings, watches, etc. So, the first factor that a pawn shop will consider is the value of the scrap metal. Keep in mind that pawn loans are based on a percentage of the value of an item.

For example, say you have a gold chain that you’d like to use as collateral for a pawn loan. It is a 14k gold chain that weighs 15 grams. Let’s also assume that the current spot price of gold per gram is $50. In this case, the chain may be estimated to be worth approximately $750.00. If the chain wasn’t broken, you may expect to be offered a loan ranging from 25% of the value, to 60% of the value. So it could be a loan of $187.50-$450.

However, keep in mind that the pawn shop reserves the right to reduce the offer of the loan because the chain is broken.

Getting Your First Pawn Loan: What to Know

If you’ve never pawned an item before, you should understand how the process works. First, you’ll show the pawnshop the item you’d like to use as collateral for a loan. They will inspect it and offer you a loan amount. You are well within your rights to try to negotiate for a bigger loan. If you do not get the amount you want, you’re welcome to take your jewelry elsewhere, with no hard feelings.

If you reach an agreement, you will need to sign your loan agreement. You will also need to provide your identification with a state-issued I.D., driver’s license, or passport. Different pawn shops offer different terms, but at our shop in Ontario, we only offer four-month loan terms. Interest rates range from 2.99%-35.99%. The pawnbroker will let you know exactly how much your monthly loan payment will be for the next four months. If you pay your pawn loan per the terms, your item will be returned to you when you make your final payment.

If you forget to make your loan payment, you will have a ten-day grace period to make your payment, or to at least make your interest payment. If you do not pay the interest or the payment within the 30 days, you risk forfeiting your item. The pawn shop is then free to sell your item.

Most reputable pawnshops will work with you to get you back on track. You may be able to renew your loan, extend your loan, or obtain a replacement loan. Nationwide it is estimated that only 15% of items that are used as collateral to secure a pawn loan are forfeited.

Unfortunately, because of confidentiality laws, pawnshops are unable to accept payment for your loan from third parties. You will need to make the payment yourself, as pawnshops cannot confirm that they have extended a loan to you to anyone but you.

While you are paying off your loan, your item will be safely stored, and monitored by 24/7 surveillance cameras. Jewelry, coins, silver, gold, and other high-value items are stored in a safe. The pawn shop should also have security gates protecting the business after hours.

You can have multiple pawn loans at one time. There is no limit to the number of items you may use as collateral for loans.

Should You Sell the Broken Jewelry?

If a pawn shop cannot extend a loan for your broken jewelry, you may still be able to sell them the item. You do need to make sure you’re ok with parting with the item. Once you sell it to the pawnshop, they can resell it as soon as they take possession of it. So, you need to be very sure you’re not going to regret selling it at a later date.

But, when you sell your item to a pawn shop, you’ll almost always put more cash in your pocket than the pawn loan will provide. That’s because the pawn shop will become the owner of the item. When you pawn your item, you retain ownership of the item.

Pawn Loans for Broken Jewelry in Ontario, Upland and Pomona

If you have broken jewelry and find yourself in a financial bind, bring the jewelry to Central Mega Pawn in Ontario. As the Inland Empire’s best reviewed pawn shop, we go above and beyond to put the money you need in your pocket. Central Mega Pawn buys, sells, and loans money seven days a week from our location on Central Avenue in Ontario. As a member in good standing of the California Pawnbrokers Association, Central Mega Pawn complies with all state and federal lending regulations.

We are always happy to answer questions. However, we do not provide loan estimates over the phone or email. For all other questions, call 909-627-9622, or feel free to email us.

Top 5 Wedding Ring Designers You Will Find at a Pawn Shop

Top 5 Wedding Ring Designers You Will Find at a Pawn Shop

by | Feb 3, 2023 | Blog

Some of the fun of shopping for jewelry at a pawn shop is that you never know what you’re going to find. This is thanks to everchanging inventory that pawn shops boast. From day to day, you may find wedding rings from the world’s most celebrated designers. You may also find wedding rings of countless shapes, carats, styles, and prices. Though the inventory at a pawn shop changes all the time, on any given day you may find wedding rings from designers including Tiffany & Co., Harry Winston, Chopard, Van Cleef & Arpels, and De Beers.

High-End Wedding Ring Designers

Although Tiffany & Co., Harry Winston, Chopard, Van Cleef & Arpels, and De Beers are some of the best-known wedding ring designers, they are far from the only designers you should consider. At a pawn shop you may find wedding rings from these globally recognized designers, but you may also find them from other designers including:

  • A. Jaffe
  • Cartier
  • Graff
  • Jean Dousset
  • Jeff Cooper
  • Jenny Packham
  • Many others
  • Nadia
  • Neil Lane
  • Piaget
  • Pnina Tornai
  • Simon G.
  • Tacori
  • Vera Want
  • Verragio
  • Zac Posen

Ring Materials, Gemstone Shapes and More: Options for Wedding Rings

When looking for wedding rings, you’re likely to be surprised by how many options exist. The most common materials used to make wedding rings include gold, silver, and platinum. However, men’s wedding rings are also often made of metals including palladium, titanium, tungsten carbide, cobalt, and stainless steel.

Likewise diamonds and gemstones come in myriad shapes including:

  • Round Round diamonds and gemstones are the most common. They may also be referred to as brilliant cut.
  • Princess A princess shape diamond is a square diamond.
  • Cushion A cushion cut gemstone or diamond is a square shape with rounded corners.
  • Oval Oval cut diamonds and gemstones are slightly longer than they are wide
  • Marquise A marquise shape is an elongated oval that comes to a point at either end.
  • Emerald Emerald shaped or emerald cut diamonds are rectangular in shape, but include cropped corners, for a subtly elegant, but not overly flashy look.
  • Radiant Radiant cut diamonds are princess diamonds with additional facets for extra sparkle. This style makes smaller rings appear larger.
  • Heart Heart shaped diamonds may drive up the price of your wedding or engagement ring as the cutting required to create a heart shape is more labor intensive.
  • Pear Pear shaped gemstones or diamonds resemble a teardrop. They have a narrow point at the top and a round, full bottom.
  • Asscher Asher cut rings are having a moment. Shaped like an octagon, with varying levels (known as facets) it is both extra sparkly, and geometric.

Styles of Wedding Rings:

If you are looking for the perfect wedding band for your future husband or wife, you’ve got countless options. Here are some of the most popular styles.

Solitaire

There’s something to be said for a timeless diamond solitaire engagement ring accompanied by a simple band. Diamond solitaire rings are often available at significant discounts in pawn shops.

Cluster

A cluster wedding ring is a ring that groups together diamonds or other gemstones of varying sizes. The effect produced is one of a larger diamond or gemstone. Because the gemstones or diamonds are typically smaller, these rings can be a great option for maximum sparkle, without emptying your bank account.

Pavé

Pavé styles make rings look like they are entirely made of diamonds. They are similar in appearance to eternity bands, but with diamonds on the sides of the bands as well. Pavé rings have been popular for a long time and show no sign of losing their appeal.

Halo

Halo settings refer to the way the gemstones or diamonds form a circle around the center stone. While a halo ring made entirely diamonds is often jaw dropping (and makes the center stone look bigger), today people are often choosing to modify the halo ring by either selecting an oval shaped halo ring, or by using a different gemstone as the center stone. Sapphires, rubies, and emeralds are trendy as center stones.

Three Stone

As their name suggests, three stone wedding bands typically have a larger center stone surrounded by a smaller stone on either side. The stones form a row. Although diamonds are commonly set in three stone rings, others may feature a diamond in the center, flanked by brightly colored gemstones.

Eternity Band

Eternity bands are excellent choices for wedding rings, promise rings, or anniversary rings. Eternity bands are entirely made of diamonds on the top of the band. They are often just bands, although as an engagement ring, the band may be set with a solitaire as well.

Flush Setting

Flush settings are popular with both men and women. In flush settings the diamonds or gemstones are set inside the band, so that the band is smooth, without any gemstone protrusion. Flush settings may include a mix of diamonds and other gemstones such as blue sapphire.

Art Deco Style

Art deco styles of rings typically feature a bold, geometric design surrounding a center stone. It may also include a halo of smaller diamonds or include diamonds along the band, such as you’d find in eternity or pavé styles.

Etched Bands

Etching a gold, white gold, or platinum band leaves unique patterns in the band, resulting in bands that look like rope, or appear swirled. The etched style is popular in men’s wedding bands.

Shop for Designer Wedding Rings in Ontario

Central Mega Pawn carries designer engagement rings, and wedding rings for men and women. As the Inland Empire’s top-reviewed pawn shop serving Ontario, Upland, and Pomona we buy jewelry seven days a week. Whether you’re looking for the perfect gold and diamond solitaire wedding ring, or a men’s flush set wedding band, we carry a gorgeous selection of wedding rings and fashion rings, along with gold, silver, and platinum earrings, necklaces, chains, bracelets, and luxury watches. Visit us today on Central Avenue in Ontario for the best deals in the Inland Empire. Questions? Send us an email or call 909-627-9622.

Buying and Selling Morgan Dollars at a Pawn Shop

Buying and Selling Morgan Dollars at a Pawn Shop

by | Jan 16, 2023 | Blog

You may also know them as the silver dollar, but the Morgan dollar has been a popular topic in the world of coin-collecting over the past century. Enthusiasts still trade them to this day, but what makes them so interesting? If you’re looking into buying and selling Morgan dollars at your local pawn shop in Rancho Cucamonga, Alta Loma, and Ontario, you should first know what you’re getting into.

The Return of the Morgan Dollar

To set a timeline for you, the Morgan dollar was first introduced to the public in 1878. It ran until 1904 and was brought back for a single year in 1921. As an exciting one-hundred-year anniversary gift, coin collectors were blessed with a 2021 return of the Morgan dollar. What does this mean for those looking to buy and trade these famous coins?

The 2021 Design

For its big return, the Morgan dollar came back with five different versions reminiscent of their original counterparts. The coin’s mint mark (the letter that defines where the coin originated) can be found just underneath the eagle on the reverse (or back) side which includes:

  • “D” for Denver
  • “CC” for Carson City
  • “S” for San Francisco
  • “O” for New Orleans
  • And no mark for Philadelphia

While the original coins were produced for circulation, the 2021 rerun has an uncirculated finish as it was created for collectors who recognize and admire the past Morgan dollar coins. Since it was brought back for collecting purposes, the composition has been enhanced to 99.9% pure silver. Other than the material, the design itself has stayed true to the first coins. The obverse features a profile view of Liberty wearing a flower crown, and the reverse proudly displays an eagle with a wreath of leaves just below it. The design by George T. Morgan (Mint Chief Engraver at the time) was meant to represent the country’s expansion into the west and its industrial evolution by the end of the 19th century.

Production Year(s)Composition
1878-1904 & 1921
  • 90% silver
  • 10% copper
202199.9% silver

The Quality of Older Morgan Dollars

It may be easy to find the value of newer Morgan dollars since they are very new, but older silver dollars are a completely different story. Existing coins have had many years to degrade which makes Mint State coins that much more rare and valuable. A majority of silver dollars are Fine grade or lower just because unless you’re making a conscious effort to maintain the condition, these coins are being used all over the place and are subject to rubbing and deteriorating. Considering this, the value of older Morgan dollars can go for around $40 on average. But if you’re lucky enough, your Morgan dollar could be worth thousands.

Where to Look For Signs of Wear

Because the level of protrusions on every Morgan dollar is the same, certain areas of the coin are more prone to wearing out than the rest of the coin. On the obverse, the areas that smooth out the most often are Liberty’s cheek, the refined parts of her hair, and the flower-like crown adorning her head. On the reverse, you’ll need to look out for the tips of the eagle’s wings as well as the tips of the leaves that make up the wreath just below the majestic bird.

Mint Mark Matters

The mint mark isn’t just an indicator of the location in which the coin is representing. It can also play a huge factor in how much the specific coin is worth. For instance, assuming the coins are in Good condition, a 1903 Morgan dollar from San Francisco may only be worth around $40 whereas a Morgan dollar of the same year but with a mint mark for New Orleans can be valued at nearly $300.

Dealing Coins At a Pawn Shop

Now that you understand all of the varying factors that make up the value of any particular Morgan dollar, there’s no telling what you’ll come across. If you own a silver dollar, it could be worth anywhere from $20 to $20,000. You may think that’s an exaggeration, but one of the most expensive Morgan dollars is the 1893 San Francisco in a Mint State for over $20k. The trick is to know what you have and to choose the best pawn shop in California.

When buying or selling silver dollars at a pawn shop in Rancho Cucamonga, Alta Loma, and Ontario, the level of expertise among the staff and how well they serve the community are huge factors in your final price. On top of knowing the anatomy of a coin and everything else that determines its value, you have to be able to trust who you’re working with. Reading the online reviews for a pawn shop before you go in can help you decide if it’s even worth the trip. The more 5-star reviews there are, the more likely they are to give you fair prices with excellent service.

Buy and Sell Coins at Central Mega Pawn!

Central Mega Pawn is by far the best place in the Rancho Cucamonga, Alta Loma, and Ontario areas for all of your coin-dealing needs. The staff is knowledgeable in everything there is to know about the coin-collecting industry so you can rest easy knowing that you’re in reliable hands. Central Mega Pawn constantly strives to be your number one choice when it comes to buying and selling any sort of valuables as a pawn shop that deals in general goods that cater to every type of individual. And with a constantly-rotating inventory, every day is a brand new day. Stop by any day of the week or call ahead at (909) 627-9622 for any questions you might have!