What Exactly Does a Pawn Shop Do?
We have all seen the depictions of pawn shops in the media: shady places where dirty dealings occur in seemingly broad daylight. The truth, however, could not be further from those common depictions. In fact, pawn shops today remain an important part of the world and business. If you have never been to a pawn shop, you may be missing out on some fantastic deals, opportunities, and people. This blog covers the things you need to know about pawn shops, how they work and what they can offer you.
You Can Get Some Quick Cash
Pawn shops offer a wide variety of services to people but one of their most common tasks is buying items from people and adding those items to their inventory. It’s a fantastic way to make some quick cash on things you have that you no longer need, especially if they are items that are in high demand. Recent versions of smartphones, recent electronics, and power tools in good condition are all viable items that can often make you some great money, and a pawn shop is the perfect place to trade them all in.
You Can Sell Jewelry
Most pawn shops these days have close working relationships with precious metal suppliers and jewelry experts. They can often give you top dollar for your gold and silver no matter the form. They can also help you find a home for any jewelry you no longer want, whether that’s selling it to someone who may want it or having it melted down for its metals. Either way, pawn shops can help you make some money off the precious metals in your jewelry.
You Can Get a Loan
People are increasingly turning to pawn shops for short-term loans. These loans are collateral-based, meaning that you have to offer something up for collateral in the event that you default on your loan. The process works differently than banks but your local pawn shop dealer will be able to walk you through the specifics. It’s an excellent way to get some cash that you may need without having to go through the bank.
You Can Find Something Fantastic
One of the best things about pawn shops has changed very little over the decades: the potential to find something amazing. These stores have been acquiring items for years and hidden away on those shelves are things you may have never guessed. Old records, books, items that you need for your home, even replacement phones and electronics. If you want it, there’s a good chance a pawn shop in your area has it, and has it for less.
Your local pawn shop is an excellent resource for everything from quick cash to loans and items that you may need. They are an important part of any community and a vibrant place where people can discover things they never knew existed. If you are in need of cash or are looking for something unique, a pawn shop may have exactly what you were looking for, and even a few things that you weren’t.
10 Rarest Coins in Canada
Coin collecting is big business for the truly passionate. Just like stamp collecting and record collecting, the true connoisseurs are always on the lookout for the rarities, whether those are limited releases, misprints, or limited runs. When it comes to Canadian coins, there are some that are more highly sought than all the others, ones that are worth more than just a pretty penny. Here are the top 10 rarest, and most valuable, Canadian coins sought by collectors around the world.
10. 1947 Maple Leaf Silver Dollar
These coins were made because of some confusion between the Canadian Royal Mint and Britain, resulting in coins struck in 1948 that bore the 1947 year. The major change was a tiny maple leaf next to the year to indicate it was part of this run. There are roughly 1,000 in circulation.
9. 1948 Canadian Silver Dollar
When India gained Independence in 1947, the reigning monarch’s official title was shortened due to not being the “Emperor of India” any longer. The change meant a different effigy, which the mint could only make a small number of due to the new dies. As a result, a small run of silver dollars were made, of which only 1,000 are thought to survive.
8. 1906 Small Crown Quarter
Canada’s rarest 25-cent piece, made with a small crown instead of a large one. Of the rumoured 1,000 that were made, most are in poor condition, which is why their price changes so much according to grade.
7. 1921 Nickels
When the mint decided to make nickels literally made of nickel, they gathered up all the silver 5 cent pieces and melted them down. As a result, any surviving versions of the last silver 5 cent piece can catch quite a high price with the right collector.
6. 1969 Large Date Dimes
Probably the newest of the top rare Canadian coins, this 1969 dime has an unusually large date and thus quite valuable.
5. 1916 Gold Sovereign
The equivalent of a British one-pound gold coin, these coins are extremely rare and thus quite highly valued.
4. 1921 Fifty-Cent Piece
Almost all 1921 50 cent coins were melted down due to low demand. Any that survived are now quite the collector’s item and often referred to as “the king of Canadian coins.”
3. 1936 “Dot” Dimes
When King Edwards VIII suddenly abdicated the throne, his brother George became king. Besides becoming the subject of the popular film, The King’s Speech, the abdication caused headaches at the Canadian mint, who did not have an effigy of the new king. The result: a dime made in 1937 that says “1936,” albeit with a tiny dot.
2. 1936 “Dot” Penny
The “dot” penny was made for the same reasons as the “dot” dime, but is rarer and thus more valuable. Only three are known to survive.
1. 1911 Canadian Silver Dollar
Value: Almost $1 million
Coin collecting can be a very lucrative endeavour when done properly. It can also help people with coins they don’t need generate a little extra income. Whether you are on the hunt for coins or want to sell some you have around the house, your local pawn shop is an excellent resource. They can help you assess the value of your coins and provide a place to sell your Canadian coins.
How to Refinish an Old Dresser
Buying new furniture can be one of the more costly things you can do for your home, often more expensive than redecorating with a few new throw pillows and a fresh coat of paint. That is why more and more people are taking the DIY approach to refinishing their old wooden furniture. Not only can they breathe new life into an old piece of furniture, but they can also be in control of the new look and feel of the piece. Today, let’s go through how to refinish an old dresser in just a few simple steps.
Step 1: Get Your Supplies
Yes, refinishing old furniture saves money, but you have to spend money to save money in this instance. Your first step is heading to the store to pick up supplies. Basically, you will need the following:
- Coarse sandpaper
- Fine sandpaper
- A paint or stain of your choosing
- A standard kitchen sponge
- Liquid soap
- A paintbrush
- Optional: a chemical stripping agent
Once you have your supplies, make sure you have a space where you can do your project safely. Since you may be using chemicals and sanding quite a bit, a well-ventilated area is a good idea. Outside is better.
Step 2: Prep the Dresser
Prepping the dresser essentially means taking a kitchen sponge and bucket of soap & water to the dresser. Gently wash away all the dirt and grime until the piece is crystal clean. Once that’s finished, let it dry before moving on to the next step.
Step 3: Get to Sanding
The bulk of what you will be doing when refinishing an old dresser is sanding. Start with the coarse sandpaper and sand until you start to see the original wood poking through the paint, stain, or anything else that is in the way. Once that happens, switch to a finer sandpaper and sand away until all you see is the original wood.
If you are having trouble getting rid of the old finish, you may have to use a chemical stripping agent. Be sure to follow the instructions and safety guide when using these products.
Step 4: Paint or Stain
Once you are down to the original wood, it is time to give it a new stain or paint job, depending on your preferences. Paint is perfect for older pieces that still look a little worn, while stain can bring out the classic beauty of those old pieces. Despite your preference, the process remains mostly the same: use a brush to paint on your coating, let it dry, and put on another layer. If you are painting, be sure to start with a primer.
Buying brand new furniture can be very expensive, but refinishing old furniture is an excellent way to update old pieces and save money at the same time. Just remember: refinishing can be time-consuming and dangerous. Always follow the safety instructions of any products you use and wear all of the appropriate safety gear, including goggles and gloves. If you take your time and are careful, you could very well get decades of renewed use out of your old dresser, and have it fit into your current decor.
The Top Four Items to Pawn for Quick Cash
If you are looking to raise a little money very quickly, you can still turn to your local pawn shop. These stores are the perfect place to unload your unwanted items, but they will often only pay top dollar for the things they know will sell. So if you are looking to make some quick cash, consider selling these items at your local pawn shop.
Precious Metals, Diamonds & Gems
Most pawn shops are also in the gold and silver business, meaning they will buy your gold, silver, diamonds, platinum and other things simply for their weight in that precious metal. So if you have jewelry (or gold bars) lying around the house, these items will often fetch a surprisingly high value at most pawn shops.
Just be aware that most of the items you sell to a pawn shop will be melted down and used for new things, especially if the pawn shop has a good relationship with a local precious metal and diamond exchange. So if you have old heirloom pieces that you hope will end up as someone’s next favourite accessory, this is probably not what will happen. Less so with diamonds and gems, but most certainly with gold and silver.
Everybody needs a good watch and many fashionable people still turn to pawn shops for unique and beautiful timepieces. If you have some watches that you no longer use, you may be able to make a pretty penny off them at your local pawn shop.
In general, pawn shops are not looking for your battered Casio digital that you wore when it was in fashion in the eighties. They are interested in higher-end brands and watches that are meant for looking good and telling the time. Rolexes remain the standard but other brands may fetch you a surprising amount of money, too.
Power tools in good working order won’t make you rich for pawning, but they remain a consistent source of decent money. Take them in and see what you can get, just make sure they are working well. Maybe give them a bit of a cleaning as well, so they look even more enticing.
Yes, even your outdated electronics could be something a pawn shop is looking for. Not your old television set, but if you have old video game systems lying around, your local pawn shop may be very interested. Smartphones are also popular pawn shop items since brand new ones can cost upwards of a thousand dollars while even the second-latest model can run for a quarter of that.
When selling items to pawn shops, it is important to consider what would be in local demand. Since almost all of these stores work on a local level, they are often after things that people in the area look for. It doesn’t hurt to go into a pawn shop and ask what people are buying and what the shop owners are looking for, but the above items are generally in high demand all over, meaning they are perfect for anyone looking to raise a little cash in a hurry.
Pearls: Different Types and What They’re Worth
A piece of jewellery can elevate an outfit, taking it from plain to flashy, luxurious or sophisticated. One of the most elegant and versatile pieces of jewellery is the pearl necklace. Most would agree that pearls are beautiful, classic and timeless, but what many people don’t realize is that not all pearls are the same. There are actually many varieties of pearls with different looks, sizes and value, catering to almost every taste. No matter what your sense of style is or how you want to elevate your look, there is a string of pearls out there to suit you.
When most people think of pearl jewellery, it is the classic akoya pearl that enters their mind. Akoya pearls, a type of saltwater pearl, are known for being highly lustrous and nearly perfectly round. It’s the natural roundness of the akoya pearl that makes it such a popular choice for jewellery, as the uniform beads create a classic and quietly elegant look. The akoya pearl is typically available in shades of white and grey, with some subtle green and pink undertones.
Freshwater pearls typically come from oysters that yield several pearls at a time, meaning one of their most appealing characteristics is their lower price; but lower price doesn’t mean poor quality. Freshwater pearls are just as beautiful as any other pearl. Freshwater pearls do tend to be smaller and asymmetrical, so the look is more fun and trendy, and not typically classic. Though available naturally in a variety of shades of white and grey, freshwater pearls are often given artificial colour treatments to make them available in fun, statement hues like pink or purple.
A favorite amongst fashionistas, Tahitian pearls are bold and exotic with their large size, shimmering, satiny surface and deep, rich colours. Some of the most famous Tahitian pearls are the black variety. These are the darkest naturally occurring pearls in the world, but they also give off a stunning iridescent shimmer, offering hypnotizing glimpses of deep greens and blues. Tahitian pearls are also available in a variety of other colours, including white and gold. If you are looking to truly make a statement, the Tahitian pearl is the way to go.
South Sea Pearls
South Sea pearls are among the rarest in the world, as they have a very limited growth period and natural region. They are also some of the largest pearls in the world, and come in a variety of shapes, though truly round ones are less common.
South Sea pearls are typically available in white and gold, and they are noted for their soft, subtle shine. Because of their rarity, they come at a higher price point than most other varieties of pearls. They are the perfect choice for someone who values jewellery that is unique without being over the top, and timeless without being boring. They are a truly elegant choice.
Whether your style is classic, sophisticated, bold, trendy or somewhere in between, there is a pearl out there that is a perfect fit for you.
Why You Should Environment-Proof Your Guitar
Whether it’s acoustic or electric, your guitar is a finely-tuned system of wood, metal, glue, and other materials. Being primarily made of wood makes it vulnerable to extreme temperatures and humidity levels, as well as to rapid changes in environmental factors. If you live somewhere with extreme weather (like our fabulous City of Champions), or you plan to move your guitar from one environment to another, you want to keep it protected!
What Can Go Wrong
By themselves, extreme heat or cold can be dangerous to your guitar—too much heat can melt the glue, and cold can crack the varnish. However, you should also be wary of rapid changes in temperature, which might lead to some of your instrument components expanding or contracting at different speeds. This may result in severe structural damage, including cracked wood.
Moisture is the other threat to your guitar. Extreme humidity or dryness can warp the wood of your guitar, causing permanent damage. A warped guitar becomes impossible to tune—if the surface of the fretboard becomes uneven, your instrument may never sound right again.
What You Can Do
The most basic step you can take to protect your guitar from seasonal changes is to store it properly. First, never keep your guitar in a cold closet, a damp basement, near a window, or close t0 a heater—try to keep it somewhere with a fairly stable climate (like next to your bed). Look for temperatures within the 18°C to 23°C range and humidity levels between 45 percent and 55 percent.
Second, if you’re not playing your guitar every day, it’s best stored in a hard case. Guitar cases slow down the heat transfer, meaning that if your guitar gets hot or cold it will at least do so slowly, reducing the risk. You should also keep your guitar in a hard case when you transport it, and leave it in the case as long as possible in its new environment to let it adjust before taking it out.
Also good to note – never leave your instrument in a car! Cars, and trunks in particular, can reach extreme temperatures even in moderate weather.
If you play your guitar every day, you will have a good sense of when it needs to be tuned, and when it needs taking care of. If you don’t jam on it daily, experts recommend you inspect your instrument every six months or so to perform maintenance on it. Otherwise, over time, the changing weather can cause lasting damage.
The biggest task for seasonal maintenance is to adjust the truss rod. If you’ve never done this before, take your guitar to a local store and ask a professional to show you how. Many guitar stores offer truss-adjustment as a free service.
The truss rod balances the stress of the guitar strings to keep the neck straight, but with changes in weather, the neck will gradually drift out of alignment. Adjusting the truss rod may take a few days, as you want to make small adjustments to avoid damaging the wood, and you want to give each adjustment about a day’s time for the wood to settle before making further changes.
Add a few cleaning and polishing tasks to your seasonal maintenance and you’ll keep your guitar in beautiful condition—and a well-made, well-maintained guitar can last a lifetime!
From Pong to Playstation: A Brief History of Gaming Consoles
Video game consoles have a long and interesting history, which can be divided into 2 eras: before 1983 and after 1983. That year is significant in the gaming industry because it represented a ‘crash.’ At the time, inferior hardware and unplayable games had flooded the market and consumers responded by heading to the arcades instead of buying home consoles.
How the gaming world responded, changed gaming and offers a powerful look into how technology has changed since then!
1985-1996: Comeback Consoles
Following the bust of 1983, many video companies filed for bankruptcy and dropped out of the video game market entirely. With the large restructuring of the industry, two companies managed to bring something new and revitalize interest in console gaming: Nintendo, who released their famous NES console in North America in 1985, and Sega, who released their Master System the same year. These two companies would lead the video game console industry for the next nine years, until Sony released their first PlayStation in 1994.
This period of console gaming was dominated by the rivalry between Nintendo and Sega, personified through their mascots Mario the Plumber and Sonic the Hedgehog. Each had a number of franchises that spun out from their main titles and each garnered customer loyalty primarily through the characters they cultivated.
This was also a period of substantial creative growth for console video games and the first appearance of franchises that are still flagships to this day, such as Final Fantasy, The Legend of Zelda, and Phantasy Star. Gaming also began to move off the television screen and onto portable devices, including the Game Gear and Gameboy from Sega and Nintendo respectively.
1998-Now: Beyond the Television Screen
The video game industry took another major turn in 1998, when a little thing called “the Internet” started to change how we game. Curiously enough, this major development came from Sega’s last console, called the Sega Dreamcast. It came with a built-in modem that allowed players to connect online. While the system itself was very limited, gaining access to the Internet changed games completely and the next generation of consoles began to incorporate online interactivity into their systems.
Since 1998, video games changed from a fairly isolated or localized experience into something else entirely. Nowadays, players can compete or cooperate across the globe, buy entire games by downloading them directly to their consoles, and video games like Pokemon Go are changing how we think about gaming as home, or even personal, experiences.
This period also changed how we play games, especially with the release of Nintendo’s Wii in 2006. Instead of a standard controller, the Wii came with motion-sensitive remotes, and the now-famous ‘nunchuck.’ The new way to game proved extremely popular for almost every age demographic and saved Nintendo from a similar fate as Sega, which had moved completely into software development after the Dreamcast performed poorly. Sony and Microsoft responded with their own controllers and motion-sensing devices, to mixed success, and today Playstation is making headway into virtual reality with its own virtual headset, Playstation VR.
Despite personal computers being able to run games with better graphics, consoles remain one of the world’s most popular ways to game! With new technology coming out all the time, it can be difficult to find the system or games you may be looking for. The reward, however, can be in the hunt and heading out to find vintage consoles and games can not only be a lot of fun, it can be one of the most affordable ways to play!
If you’re a gamer, or have gamers in your family, visit us today to browse our comprehensive selection of video games and consoles!
The Lesedi La Rona Diamond: Where It Is Now?
The Lesedi La Rona Diamond: Where It Is Now?
What is the Lesedi La Rona Diamond?
The Lesedi La Rona diamond is the third-largest diamond ever found, and the world’s second largest gem-quality diamond. The stone was discovered on November 16, 2015, in the Karowe mine in Botswana. It is 1,109 carats and measures 65 millimeters x 56 millimeters x 40 millimeters! It was found 660 feet below the surface and was mined using Large Diamond Recovery (“LDR”) XRT machines. The Lesedi La Rona diamond is the largest diamond ever to be discovered using one of these large machines, which are used for automated diamond sorting. It is also the largest diamond to ever be discovered in Botswana. The Lesedi La Rona was discovered by, and is still owned by, the diamond exploration and mining company Lucara Diamond Corp.
The History of the Lesedi La Rona
Botswana, the country in which the Lesedi La Rona diamond was discovered, is one of the top three producers of mined diamonds, the other two countries being South Africa and Namibia. The Karowe mine in Botswana is located in the Orapa/Letlhakane district, approximately 500 kilometers north of Botswana’s capital city, Gaborone. The Lesedi La Rona was discovered within the AK6 pipe of the Karowe mine, which has yielded over one million carats worth of diamonds alone! It is estimated that the Karowe mine as a whole has an estimated $2.2 billion worth of diamonds within. It is also estimated that the Lesedi La Rona diamond is over 2.5 billion years old. Wow!
This gorgeous stone was given its name after Lucara Diamond Corp. held a competition in Botswana, which resulted in over 11,000 responses. Lesedi La Rona, in the Tswana language, means “Our Light”. William Lamb, the CEO and president of Lucara Diamond Corp. stated, “’Lesedi La Rona’ symbolizes the pride and history of the people of Botswana.”
Where is the Lesedi La Rona Today?
In June 2016, the Lesedi La Rona diamond was insured for $120 million. On June 29, 2016, there was a public auction held at Sotheby’s in London, England, in an attempt to sell the Lesedi La Rona diamond, however, the bidding did not reach the undisclosed reserve price, and ultimately was not sold.
The highest bid for the Lesedi La Rona was $61 million, which fell short of the $70 million price point at which the stone was expected to sell. As this public auction was a failure, it is most likely that the diamond will be sold privately at some point in the future. Lucara Diamond Corp. provided a news release the same day, stating that the diamond would be retained by Lucara for the time being.
Do you enjoy the study of fine gems and jewellery? Satisfy your curiosity at Loan Star Jewellery & Loans! We have a large selection of gold, diamond and silver jewellery for you to explore.
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Pawnbrokers: A History of the Trade
Summary: Pawn broking is one of the oldest trades in the world, tracing all the way back to almost 3,000 years ago. While the trade of pawn broking has evolved over time, responding to contemporary needs, it remains a strong and valued part of today’s society. Here is a brief history of the trade.
What is a Pawnbroker?
A pawnbroker is an individual or business (colloquially known as a pawn shop) that offers secured loans to people with personal items as collateral (jewelry, electronics, musical instruments, sporting equipment, clothing, antiques, power tools, etc.). Once an item is pawned to the broker (the pawnbroker), it’s called a pledge or a pawn.
While pawnshops are virtually ubiquitous in many of today’s societies, not many people realize that the history of the trade dates back to ancient times.
The origins of pawnbroking can be traced all across the world, from China to Greece to Italy. Indeed, evidence of pawn broking has been located in ancient Greece, Italy, France, England, Bavaria, and China, dating from Roman times to the Middle Ages. Pawnbroking is not only one of the oldest trades in the world; it’s also one of the most international! In the late 19th and 20th centuries, there were nearly as many pawn shops as there were pubs in Britain, indicating the level of the trade’s popularity and necessity.
The earliest pawnbrokers have been located in 5th century China. These early pawn shops were established, owned and operated by Buddhist monasteries before moving into secular and mainstream society. In some cases, wealthy laypeople would enter in the pawn broking business with the monasteries, forming partnerships that allowed them to open pawnshops, and subsequently avoid certain property taxes that Buddhist monasteries didn’t have to pay.
The Discovery of the (New) World
Pawn broking soon spread to other parts of the world, truly establishing itself as an international trade. In England, the history of pawn broking is tied to England’s monarchical history. The pawnbroker came in with William the Conqueror. In 1338, King Edward III actually pawned his jewels to the Lombards to raise money to finance the war with France. Henry V followed a similar strategy in 1415. Pawnbroking has a long and illustrious history of financing great moments and developments in history!
According to the National Association of Pawnbrokers, pawnbroking played a part in the discovery of the Americas, as the voyages of Niña, Santa Maria, and Pinta (led by no other than Christopher Columbus) were partially funded by Queen Isabella of Spain’s pawned jewels.
The Pawnbroker’s License
The pawnbroker’s license was established in 1785. In London, the duty for a pawnbroker’s licence was fixed at £10 in London and £5 in the country. In 1790, the interest rates on advances in England rose to 15 per cent. After many repeals and amendments, the pawnbroker’s license came to resemble (at least in the UK) shortly thereafter what the modern pawn broking industry looks like. Restrictions on interest rates and licensing costs vary from region to region and country to country. The rates in the US will not, for example, be the same as pawn broking rates in England, Canada or Spain.
The Patron of Pawn broking
Did you know? Pawn broking is such an esteemed and long-standing trade that it even has its own patron saint – Saint Nicolas (sound familiar)? Saint Nicolas is a rather busy guy, as he is not only the patron saint of pawnbroking, but also of children, sailors, broadcasters, archers, and fishermen, just to name a few!
Baby, it’s cold outside. But the winter jewelry trends for 2016 are hot, hot, hot!
Oysters and Pearls
This holiday season, it’s time to embrace the oyster. While you’re hobnobbing it at some fancy holiday party, do so with a string (or better yet, strings!) of pearls dangling from your neck or your wrist. Pearls are one of this winter’s most popular jewelry trends, which is great, because pearls go with practically everything! Wear a single strand with your black cocktail dress for that classic, sexy yet elegant look. Make that chunky sweater a lot more interesting by piling strands upon strands of pearls. Pair a pearl necklace with a pearl cuff for a look that’s bold yet in sync.
Straight from the runways of Paris, London and Milan, the single earring is perhaps the boldest of this winter holiday’s jewelry trends. Long, dangling, hoops and cuffs: it seems the only way to wear an earring right now is on its own! This isn’t a look for the style shy, but for those who are bold, fierce and confident. And what’s hotter than being bold, fierce and confident during the holidays?
The more dramatic you are with this look, the better. Wear a long and sparkling statement earring to liven up a simple black blazer or pair an oversized sweater with a jumbo hoop earring for a look that’s both casual and fun.
But why wear just one single earring when you can wear two single earrings? Earring mashups are also a super-hot trend for this cool winter season. Wear one, wear two, wear three or four earrings if you want, but make sure each piece is different. This trend allows men and women to show off their individuality and creativity, and it’s fun! Asymmetrical earrings are the thing right now.
Bracelets Over Sleeves
Despite all the latest jewelry trends coming off the runways and into the streets, let’s face it: winter is still cold. That’s why you’ll love this next jewelry trend: bracelets over sleeves and gloves! More people are wearing their cuffs, bands and bangles over their sweaters and knit top sleeves, and even their winter gloves. Looking good shouldn’t mean feeling cold, so go on: layer up those watches, bangles, bracelets and rings over your ensemble. Look chic this holiday season by staying warm!
The choker has made a huge comeback in recent years, but this winter holiday jewelry trend is the oversized choker. When it comes to this trend, the bigger, the better. Wear a bright oversized gold choker with a V-neck blouse for a look that’s sexy and elegant. Get punk with an oversized leather choker for that bad girl or bad boy edge. And since the pearl’s the thing this holiday season, why not splurge on a beautiful and regal oversized choker that will pair with anything in your wardrobe, from sweaters to jeans to cocktail dresses.
This year’s winter holiday jewelry trends are all about having fun, being bold and getting creative. Sparkle, shine, and be daring in your selections!