Question 1

What do you accept as collateral for pawn (loans)?

Accepted Answer

We mostly accept gold and diamond jewelry, watches, and musical instruments. There may be some things we will not take (e.g. electronics, smart watches, tools and game consoles). Give us a call first to see if we accept your items before you come in!  Also, please call us first if you have musical instruments and very large items!

Question 2

Do I need to bring my ID to pawn something?

Accepted Answer

Absolutely! Your unexpired, government-issued photo id will be required at the beginning of each transaction. It could be a State ID, a Driver's License or a Passport. A physical ID is required- NO Photos on your cell phone nor paper photocopies of ID will be accepted.

Question 3

Why do I have to disclose my Social Security Number to you?

Accepted Answer

Required by law, we check all customers who pawn to determine an individual's covered borrower status for the protection of the Military Lending Act.

Question 4

How much interest do you charge?

Accepted Answer

The interest (finance charge) of your loan is calculated at 4.5% MONTHLY. Remember, loans are good for 4 months.
An 8% service charge may also apply on your loan. Ask us for details!

Question 5

How long do I have until my ticket expires?

Accepted Answer

Each pawn ticket is good for 4 months from the day you pawn. You can pay to redeem your items or renew your ticket anytime within those 4 months.
 
Keep in mind, we are closed on Sundays and certain Holidays. We cannot adjust the due date on your ticket. If your maturity (due) date falls on a Holiday or a Sunday, you must make payment prior to the date we are closed or you risk incurring more charges or potentially defaulting on your loan. Ask us for details.

Pay your loan's finance (interest) charge to RENEW using the MobilePawn app ( Apple iOS  |  Google Play Store ).

Question 6

What is "dwt"?"

Accepted Answer

"dwt" is the abbreviation for "pennyweight".
 
The pennyweight is a common weight measurement used in calculating the amount and cost of gold amongst pawnbrokers and jewelers. We do not use grams or ounces in our calculations at H.Schoenberg.

Question 7

I lost my pawn ticket - My pawn ticket was stolen - I have my pawn ticket, but its damaged-  Can you print me a new one?

Accepted Answer

All lost, stolen, or damaged tickets must be reported immediately.

A ticket is considered damaged if it is altered in any way, including writing (other than the pledgor’s signature), heavy soiling (ink, oil, blood, etc.), fading, or any other condition that affects readability. Damaged tickets are subject to a $5.00 affidavit fee.

Replacement tickets cannot be issued automatically. To obtain a new ticket, applicable interest must be paid. A valid ID is required, and the account holder must be present. Additional fees may apply.

Important: Pawn tickets are transferable. Anyone in possession of a valid ticket may redeem the item. To prevent unauthorized redemption, request a “STOP” as soon as possible.

For loans renewed through the MobilePawn app, only the account holder may claim the item. The account holder must be present with valid ID.

See your loan details using the MobilePawn app ( Apple iOS  |  Google Play Store ).

Additional restrictions may apply. See an in-store representative for full details.

Question 8

I lost my ticket! Can you tell me when my loan is due?

Accepted Answer

On the go, you can download the MobilePawn app ( Apple iOS  |  Google Play store )  to view your pawn tickets and layaways!

Original Pledgor can come to our store and present ID so we can assist.

Caution: Remember that ANYONE with the original paper pawn ticket, so long as it is an active loan,  CAN claim your loaned items- no ID required. Ask us for details on preventative measures you can take! The MobilePawn app is NOT a replacement for the original pawn ticket! Other restrictions may apply, so ask us in-store for details!

Question 9

What is a "STOP" on my pawn?"

Accepted Answer

A STOP is issued when a Pledgor (the person who pawned) requests a STOP to prevent third-parties from claiming items under Pledgor's name should third-parties obtain the Pledgor's pawn tickets. Once a STOP is in place, pawn tickets become void and cannot be reversed. In order to renew or redeem pawned items that have been stopped, Pledgor must then claim items with an unexpired, government-issued photo ID plus any payments that are due. Any items placed under a STOP is subject to an additional $5.00 affidavit fee.

Question 10

Can I make a payment on my pawn using a debit or credit card?

Accepted Answer

All in-store pawn (loan) payments MUST be made in CASH ONLY.

Whether you're stuck at work, on vacation, or sick and can't come to our shop for other reasons, you may be able to make interest-only payments (for renewal purposes only) online using a DEBIT card on the MobilePawn app ( Apple iOS  |  Google Play Store )! No credit cards accepted. Restrictions may apply. Ask store representative for details!!

Please, try not to wait until last minute to make online payments! Always allow yourself enough time to account for any technological errors that may occur! Also, it's important to know that there is NO auto-pay feature. Saving your preferred payment method/debit card info in the app does NOT enable any auto-pay feature.

MobilePawn payments only RENEWS your loan for 4 more months- it does not lower your principal. If you want to lower your principal you must make an in-store cash payment. Do NOT use the MobilePawn app to make payment if you are planning to lower your principal or redeem, especially on the same day!!  If you have any questions regarding your loan and how to pay, call us for details before you make that payment!!

Question 11

What happens if I don't pay my loan on time?

Accepted Answer

You risk defaulting on your pawn and losing possession of your items! Your items may be sent to get scrapped. Once scrapped, the items are unretrievable.

Frequently Asked Questions