What the Falling Price of Gold means to you!

Within the past 5 years, the price of gold has been as high as $1,900 an ounce and as low as $1,061. When the price is high, you could sell your old jewelry for more money but it becomes harder to buy new gold jewelry because the price of that was higher too.

Empire Loan has been buying and lending money based on the price of gold since opening in Boston’s South End in 1985. As we enter the holiday shopping season (2014), the price of gold has been dropping, which means now is the time to buy at a store like Empire Loan. While Jewelry stores have higher margins and have paid more for their merchandise, Empire Loan has actually lowered the price of their gold jewelry meaning you CAN afford beautiful gold and diamond jewelry.

“In the past year and a half, the price of gold has dropped by over $400 an ounce” said Bob DeNutte, Sales Manager for Empire Loan. “This means we can sell the pieces we get for less, saving consumers 30, 40 and even 50% off our regular prices. And remember, our prices were a fraction of what most retailers were charging in the first place. Typically an item that we were selling for $500, most jewelry stores were selling for $1,000, $1,500 and even $2,000. Now with the falling price of gold, that same item at Empire Loan locations would be priced as low as $350”
National jewelry store chains and department stores pay more for their inventory and pass those costs onto consumers. Empire Loan pays less for their merchandise and passes those savings onto customers.

“Most customers who walk into an Empire Loan store look around and say it’s not what they expected and that’s what we hope for” said DeNutte from behind the counter of the Boston store at the corner of Washington and East Berkeley Street in the south End. “All I ask is that people take a look before they buy something elsewhere. You will not find better prices for this quality of merchandise anywhere and we stand behind that. If you’re not happy, come back and we’ll do what we can to make you happy”.
What do lower gold prices mean to you? Stop into Empire Loan and see for yourself.




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Got Gift Cards? Get Cash!

Cards for cash


Gift cards have grown to be one of the leading forms of gift giving over the past few years. Now the question is: what do you do with gift cards you don’t want? Empire Loan has an answer: Turn it into cash.

Gift cards have become an easy way to shop for anybody on your holiday list. Just pick up a gift card for a clothing store, restaurant or home improvement center and hand it over. No worries about correct sizes, colors or styles, just drop it in an envelope and hand it over. Many companies offer them as incentives to employees or as rewards to their faithful customers, friends and families exchange them back and forth, even the mailman and trash collector get them. But what if you are the recipient of an unwanted gift card? What can you do with these?



Empire Loan recently rolled out a program where people can sell their unwanted gift cards for instant cash. People simply walk into any Empire Loan location with the gift card and their ID and walk out with cash in hand. It’s that easy! Empire Loan is buying gift cards from over 650 merchants. From clothing and toy stores to restaurants and health spas, Empire Loan has literally helped hundreds of customers convert gift cards into cash.

In Massachusetts, gift cards don’t expire. This means if you have an old gift card you forgot about just sitting in your wallet or in the back of their sock drawer, you could potentially walk into any Empire Loan location and turn it into cash.

Since 1985, Empire Loan has been New England’s one stop money shop, and now Empire is your one stop gift card stop too!



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A Pawn Loan for a Debt Free Holiday Season

Every year during the holiday season, people struggle with how to create a happy holiday season without going into debt. The kids put together a wish list that keeps growing longer and more expensive every year. Trips home to visit family, or family vacations are a regular part of the season and there’s always the holiday parties you attend. The prices keep going up as consumers rang up $32.5 billion dollars in credit card debt last year according to NBC News.

Many consumers have turned to pawn loans as a way of avoiding this problem. Consumers take items such as gold jewelry and turn that into a cash loan that will let them cover their expenses for the holidays without incurring any debt. Here’s how it works:

A customer brings a gold chain into a pawn shop where the representative tests and weighs the chain to determine the assay or karat of the gold and its weight to determine how much they can borrow on the item. The pawn shop holds onto the item for up to 4 months until the customer returns with the money they were lent along with any interest or fees incurred. The length of time and interest is set by local authorities who license pawn shops.

The advantage to consumers with a pawn loan is there are no credit checks required, no background searches or waiting period for approvals. In most cases the only thing required of the consumer is a valid government issued ID. Even if the consumer defaults on the loan and the pawn shop forecloses on the item it does not affect the consumer’s credit report since the loan was secured by the item and pawn shops do not report to credit agencies.

Pawn shops like Empire Loan, with 8 locations in Boston, Providence, New Bedford, Worcester, Stoughton, Lowell and Lynn have been helping their customers make ends meet around the holidays with these fast cash, no hassle loans since 1985. “Customers call and tell us what they need the money for but it really doesn’t matter to us” said Empire President and CEO Michael Goldstein. “Since we opened we have had more people come in and tell us how we helped them get everything on their kids wish list, or afford a trip home to see family. In the end, we’re happy to help by lending them the money they need when they need it.”

Empire Loan offers pawn loans against the value of gold and diamond jewelry, electronics, musical instruments, tools or just about anything with a resale value.


Make this holiday season happy and debt free with a pawn loan from Empire Loan, and now with the Cashcam its never been easier!


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What’s Hot and What’s Not in the world of Game Consoles


Pawn shops are often known for taking in various electronics as collateral for loans, but electronics can also be the most challenging items to evaluate. The minute you buy a new TV, computer or sound system, there seems to be a newer model coming out that lowers the value of what you just purchased. Game consoles are the same way but surprisingly, the value of some game systems have actually remained strong.

Play Station 3: When Sony introduced the Play Station 4 (PS4), everybody predicted that prices were going to fall. Now, almost a year later, PS3’s are still selling strong on sites like EBay meaning pawn shops like Empire Loan would be offering loans for as much as $30 to $60 depending on the number of gigabytes, conditions and accessories or games.

Play Station 4: As of this writing, the new PS4’s from Sony are selling for anywhere from $350 to $600 depending on what is included. The average price seems to be right around $400 which means Empire Loan would be offering around $100 on a loan. At this time, that seems to be the game console that gets the largest loan.

Xbox 360: Microsoft’s game system, the Xbox 360 has not held its value as well as Sony’s Play Station has, selling for anywhere from $70 to $150 depending on condition, GB and accessories. This means we’d buy or loan as little as $20 but probably not much more than $30 or $40. , but could offer a loan for as much as $60 for the right system.

Personal Gaming Systems: Items such as the Nintendo DX-XL and Sony PS Vita are also popular items that customer have been able to get loans on for up to as much as $50 or $60. As with any electronic device, they must be in great working condition and come with all necessary accessories.
Finally: Why go to a pawn shop when game stores “buy’ items? Simple, Pawn shops like Empire Loan pay cash on the spot. Many gaming stores offer credits for in-store use only. Which would you prefer?

If you want to play, make a pawn shop like Empire Loan your first stop!


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Christmas Gold!


Christmas and Gold have gone together since the beginning of time. One of the three wise men brought Gold as a gift. Gold rings and necklaces have been given to men, women and children as “forever” keepsakes. Gold is the gift that lasts forever and ends up being passed down through the generations. It’s also become more expensive to give gold than ever before as gold prices have skyrocketed over the past 5 years. But all is not lost.

As the price of gold jewelry has gone up, there is one place you CAN afford beautiful one-of-a-kind gold jewelry: Empire Loan. Since 1985, Empire Loan has been buying and lending people money for their gold jewelry. This means that unlike traditional jewelers, Empire Loan has been paying less for gold jewelry than most retailers do. While department stores, national chain jewelry stores and individual retailers are paying big markups to manufacturers and wholesalers, Empire Loan gets the jewelry they sell directly from consumers based on the scrap value of the gold. This means Empire Loan buys jewelry for a fraction of the price these other jewelers pay. More importantly, that means you pay a fraction of the price other jewelry stores might charge too!

“I was shopping at the mall with my family one day and stopped into one of the better known national chain jewelry store chains just to see what they were charging and was amazed at how much they wanted for the same merchandise we sell” said Empire Loan Marketing Director Neal Perlstein. “They had silver rings for $200, $300 and $400, while our stores sell the same ring for as little as $30 or $40. When it came to gold it was ridiculous. Bracelets and chains that Empire Loan sells for $400-$500, they had on sale for over $2,500! It was literally shocking.”

“The inventory at each Empire Loan is unique and offers a wide range of choices at prices everyone can afford. We have customers who have been able to buy gold pendants and earrings for under $100, and others who have purchased big heavy chains and rings for a few thousand dollars. The one thing they all have in common is that those other retailers are charging people as much as 10X as much as Empire Loan does. I defy anybody to look at what we have to offer and not get a better price at Empire than they would anywhere else” said Empire Loan’s Perlstein.
You CAN afford gold jewelry at Empire Loan!


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