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Pawning is a great way to make money but only if you avoid common pawning mistakes. Here are five such pawning mistakes and how to avoid them.
1. Misunderstanding Gold
Gold is one of the most common items that come through the doors at a pawn shop, yet gold itself is one of the least understood items on the planet. You see, the price of gold doesn’t operate like regular fluctuating stocks. It’s remarkably stable and, as a result, pawn shop owners understand the worth of an item mostly by placing it on a scale. Many people who try and pawn gold items try to over-negotiate when the pawn dealer understands just how much they can make by selling it to be melted down.
2. Being Sentimental
Sentimental value is important to some people, but your love of an item isn’t a big factor in pawning. In fact, it works against you when buying and selling. For buyers, they will often pay more than they need to for something they really want. For sellers, they will hold off on a fair price because they are convinced the item is worth more when it really isn’t.
The best way to avoid getting sentimental is to seriously assess whether you want to part with items you are pawning, and to not get overly-invested in items you want to buy before you make your offer.
3. Extreme Negotiating
There is rarely an item in a pawn shop that has a 300 per cent markup, yet many people buying things will try and lowball to save money. Negotiation can be part of the pawn shop experience but assuming large profit margins will shut down negotiations before they get you a stellar deal. The same applies when you are pawning items off. Understand the value of your items and negotiate from there.
4. Not Doing the Research
If you walk into a pawn shop with some items to sell and you haven’t done any research, you will often leave with those items still in your possession. The reason? Pawn shops don’t buy just anything. Be sure to head online and figure out what pawn shops are usually looking to buy and, while you’re there, do some research on what to expect in terms of cash in hand for those items.
5. Breaking Up Collectible Sets
Collectibles are a large part of the pawn shop market, but many people do not understand how to sell their collectibles to make the most amount of money. The best example is collectible sets. Too often, people will try and sell collectible sets as individual items, not understanding that they can often make more for the entire set. After all, not having to hunt down the individual pieces is a major convenience that many people will pay for.
If you are looking to pawn some items, it is in your best interest to do some research on what you want to sell. By taking the time to learn about pawning and your items, you can actually negotiate a better deal and sell more things. Also, be sure to always go to a reputable pawn shop for your pawning.
Watches are the one piece of men’s fine fashion where you are encouraged to go all out. In a world where plain-coloured suits and modest ties are dominating board rooms, watches are the place to show off. While watches are expensive, some of the best, most eye-catching pieces can be found at your local pawn shop.
If you love the flash of a great watch, check out these pieces. They rank as some of the most expensive watches ever made.
7. Rolex Daytona Ref. 6263 Oyster Albino- $4 million
As the most expensive Rolex ever sold, the Daytona Oyster Albino had a run of just four watches. The watch features unique white chronograph sundials. For a company that is synonymous with fancy watches, this piece remains its most expensive and possibly most notable watch.
6. Louis Moinet Meteoris– $4.6 million
Just like the Rolex Daytona, there were only four versions of this watch made, and for good reason: the watch contains an actual moon rock. Each of the pieces are truly unique for what’s hidden inside. These pieces are really out of this world!
5. Hublot Big Bang– $5 million
With 1280 diamonds, the Hublot Big Bang is a total lesson in luxury. Each diamond is cut by the same jeweler in New York to ensure complete consistency. The entire piece is a seamless band and watch of diamonds that takes lavishness to a whole new level.
4. Patek Philippe Ref. 1518 in Stainless Steel- $11 Million
Patek luxury watches are known for their extravagance but they made a big splash with the Philippe 1518 because of its casing. Instead of rose or yellow gold, this piece features a stainless steel casing. Only four were made, which is another reason for its high price tag.
3. Jacob & Co. Billionaire Watch- $18 Million
While not worth billions itself, this watch is expensive enough to only be afforded by the ultra-wealthy. Made with 230 collective carats of diamonds, each emerald cut, this piece has a skeleton face that is as striking as its diamond band.
2. Patek Philippe Henry Graves Supercomplication– $24 Million
Created exclusively for Henry Graves Jr., the famous banker and watch collector, the Supercomplication is named for its 24 complications. It also features a perpetual calendar, minute repeater with Westminster chimes, times for sunrise and sunset, and a celestial chart based on the night sky above Graves’ New York home.
1. Chopard 201-Carat Watch- $25 Million
201 refers to the total number of carat diamonds on this watch, which includes a 15-carat pink diamond, a 12-carat blue diamond, and an 11-carat white diamond – 163 carats of white and yellow diamonds make up the rest.
If you have a love of watches, your local pawn shop is the perfect place to find all kinds of pieces at reasonable prices. From practical pieces to luxurious watches that make your outfit pop, there are fantastic finds at your local shop.
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.
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.
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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Ah, summer. The season to fill your days with warm sunshine, cool water, and relaxing vacations. However, if you’re planning any kind of summer get-a-way, you have to know how to protect your valuable items.
For the most part, you’ll simply need to take some basic precautions in order to protect your valuables this summer, although sometimes the most obvious precautions are the ones most easily forgotten! For example, before you go anywhere, ensure that your windows and doors are locked, and do not leave a spare key in an obvious place (such as under a door mat, a potted plant, or in the mailbox). If you have a security system installed, make sure that it’s in proper working order, and always tell a trusted neighbor or friend to keep a watchful eye on your place while you’re gone.
Protect Your Documents
People worry that a burglar will steal their valuable antiques, electronics, jewelry, or furniture. While these items are certainly not outside of a thief’s purview, we often forget that some of our most important valuables come in the form of documents: credit card information, bank statements, birth certificates, mortgage details, passports, etc. These documents can be used to steal someone’s identity. One of the best ways to keep these documents safe is to lock them away in a bank’s safety deposit box. In other words, secure your information by keeping it out of your home, and away from prying eyes!
Check Your Protection
Even if you’re only going away for a short summer vacation, make sure you know exactly what your home insurance covers, and for how long. Depending on the duration of your vacation, you may need to extend your insurance, or purchase extra insurance for items that are not covered. Having proper insurance is one of the best ways to protect your valuables this summer, because even if you do have the misfortune of having your home or property broken into, with the right insurance, you’ll be able to claim your losses.
For a claim to pay out, you may need someone checking on your property daily or a few days a week while you were away. Check your policy carefully for this clause.
Look Like You’re Home
One of the ways to dissuade thieves from breaking in is to make it look like you’re home. If you’ve got a pile of unread newspaper subscriptions outside your door, or your mailbox is piling over, it’s easy for burglars to realize you’re not home and target your valuables. Have your mail temporarily halted or have a friend or neighbor pick up your mail and newspapers. Leave a few lights on and close the blinds.
Taking a few necessary precautions before your summer vacation means you can go away and relax without having to worry.
Jewelry is an essential part of everyone’s wardrobe. It can accentuate your natural beauty and bring extra zest to any outfit. There are a lot of options for gold and silver jewelry and trends change every year and every season, just as they do with clothing. Before you spend a lot of money on a new piece of jewelry you should know if it is on point for this season. Here are some of the biggest trends you will see with gold and silver jewelry in 2016.
Stacking / Layering Pieces
One big trend you will see in with gold and silver jewelry are delicate pieces that you can layer together. Think bangles, dainty rings, even necklaces that you can pile on without the overall look being too “heavy” or overdone.
Large, elaborate earrings that make a statement will be seen a lot this year. You will find them in all sorts of styles too from hoops, geometric shapes, and even nature-inspired floral pieces
You will also find a lot of chunky necklaces made from gold and silver. You’ll see industrial looking chains, thick chokers, and fringed pieces. We definitely recommend only wearing one chunky piece at a time to avoid over accessorizing.
Another attractive trend you will see with gold and silver jewelry is asymmetry. Asymmetry is very visually interesting and you will probably enjoy a lot of compliments on these statement pieces!
Arm and Ear Cuffs
Edgy and at the same time very chic, gold and silver arm and ear cuffs can be a great way to add a little attitude to your look. It can be a great way to show off your individuality when you must dress more conservatively or wear a uniform.
Jewelry Made With Rose Gold
Rose gold looks amazing on most skin types which is why it’s become so popular over the last couple of years. You can see bangles, rings, bracelets, and watches all made from this beautiful metal.
In this struggling economy, forget handing over a bunch of money for expensive stones! The best part is, you don’t have to. Instead, choose to put semi-precious stones in your gold and silver jewelry. Cubic zirconia, amethyst, garnets, opals, and onyx are stunning and will open up a world of design options. You can also opt for lab manufactured gems. It’s nearly impossible to tell these gems from mined stones, except when it comes to the price tag.
Have fun with your style
Trends are great, but the most important thing is to choose pieces of jewelry that you love and will be proud to wear. We have a great selection of affordable jewelry and other items in our discreet, upscale pawn shop.
If you have jewelry to sell or are looking for a great deal on a gift for someone special, please call us today at: 780-424-2274 or come down to the shop!
Come by our shop and browse our selection of jewelry. When you find that perfect piece, let us know you’d like to buy it on our layaway plan.
We take 20% of the total cost of the item as a down payment.
We’ll also take the item off our shelf and set it aside for you. After that we’ll set up a monthly schedule, where you pay 20% of the total cost of the item each month. Then at Christmas when the item is paid in full, we’ll give it to you so you can really wow that special someone.
Benefits of a Layaway Plan
We all know sometimes it can be hard to afford the gifts your loved ones deserve. By making easy monthly payments, you can free up room in your budget.
Layaway plans don’t build interest, unlike a credit card.
With layaway you’ll pay the price of the item and that’s it. Buying an item on a credit card before you can afford to pay in full can cause the costs of the item to sky rocket with never ending interest payments. With layaway you’ll save money.
Finding the gift for someone special can be a real challenge. Especially when it feels like everything has already been picked over and you’re forced to settle for something less than perfect. By doing your shopping early you can find that perfect piece for that special someone before everyone else.
No credit card? No problem! We take cash, debit and credit for our layaway plans.
Call us today for more information on our jewelry layaway plan!
If you’re looking for a meaningful piece of jewellery, why not pick out a beautiful piece from our pawn shop with your partner’s birthstone? Birthstones are a great way to show someone that you are thinking of them because each birthstone has its own meaning that is special. There are many different interpretations of the meanings and some months have two are three stones. Here is a quick guide to the most common birthstones and meanings by month.
January – Garnet: A garnet is a deep blood red stone. These bea
uties will keep the wearer safe during travel. Garnets are a great alternative to rubies as they are often less expensive.
February – Amethyst: Amethysts are a beautiful purple colour. They are said to give the wearer courage and to strengthen relationships.
March – Aquamarine: These blue-green stones are the colour of the sea and are said to help people make friends.
April – Diamond: This classic and popular stone means – you guessed it – everlasting love.
May – Emerald: Emeralds have a beautiful deep-green colour and have several meanings. Fertility, rebirth, wisdom and patience are al qualities represented by this semi-precious gem.
June- Pearl: Purity and chastity surround this treasure of the sea. Natural pearls come in all different colours and shapes and the trick to discovering whether or not you have a real pearl is to run it lightly on your teeth; a real pearl will feel gritty.
July – Ruby: The red ruby connotes love and passion for the wearer. Rubies, emeralds and sapphires are wonderful alternatives to diamonds for engagement rings.
August – Peridot: August’s birthstone is one of the only gems to come in only one colour: olive green. They may have varying tones, but they are always this green. The peridot represents strength.
September – Sapphire: Most recently made popular by Princess Diana and her daughter-in-law Catherine, Duchess of Cambridge, the sapphire is a beautiful blue stone that is supposed to give the wearer wisdom.
October – Opal: The often milky white stone gives flashes of iridescent colours and is a beautiful stone set off by yellow gold. It means faithfulness and confidence and is a beautiful addition to anyone’s jewellery box.
November – Topaz: One of the hardest gems, topaz can be colourless, red, blue, green, brown… Its hardness is what distinguishes it from other stones. Each colour has a different meaning, the most common golden topaz meaning confidence and stamina.
December – Turquoise: This beautiful blue stone is relatively inexpensive as it is widely available. Is protects the wearer and may give a stronger connection to the spirit world.
Are you shopping for a meaningful gift? Come in and take a look at our jewellery selection – it varies day to day.