What Kinds Of Items Can Be Used For A Pawn Loan?

What Kinds Of Items Can Be Used For A Pawn Loan?

A pawn loan, also known as a collateral loan, is when you provide an item of value to a pawnbroker, and in exchange, you get a cash loan. The pawnbroker will then hold on to that item until you repay the loan, at which point you will get the item back. The size of the loan will, of course, depend on the value of the item you’re using as collateral. With most items, value is determined by looking at the selling price of similar items on secondhand retailers like eBay. This means that your item’s worth is determined by what it could be sold for today, not what you originally paid for it at retail. Once the secondhand value of your item is determined, you’ll be offered a loan based on a percentage of that value. Here at Empire Loan, we accept a wide variety of items as collateral for pawn loans, including gold and diamond jewelry, electronics, musical instruments, tools, designer handbags and almost anything else that holds secondhand value! Continue reading below to learn more about the items you can use for a pawn loan, or contact us for more information! 

Jewelry & Watches 

We offer our customers loans on gold, silver, diamond, and platinum jewelry, as well as designer watches! For loans on jewelry, it is based on the scrap value of the metal and a small percentage of the wholesale value of the diamonds, not what it may have appraised for or sold for at retail. Our staff will test and weigh your gold, silver, diamond, or platinum items and make you a cash offer on the spot. Because the value of gold, silver, and platinum is constantly changing, the amount of cash we offer for a loan on these items will depend on the current precious metals market. As far as watches, we offer pawn loans on high-end watches from brands like Rolex, Tag Heuer, Breitling, and more. We do require the original box and paperwork to help identify the model and assist with authentication. As with most items, the amount of cash you’ll get for a pawn loan on these items depends on their value on the secondhand market. 

Electronics & Tools 

Here at Empire Loan, we offer our customers pawn loans on a wide variety of electronic devices: laptop computers, tablets, gaming systems, TVs, speaker systems, and more! We typically offer 20% – 25% of the secondhand value of these items for pawn loans. Electronics usually decrease in value the older they get, so the newer the item you use as collateral, the larger the loan may be. We do not offer pawn loans on broken electronics unless their parts hold significant secondhand value. Tools can also be used as collateral for a pawn loan, including hand tools, drills, impact wrenches, table saws, compound miter saws, etc. The value of the cash loan you’ll get for your tools is determined in much the same way as electronics: a percentage of their secondhand selling price on websites like eBay. Newer, better-quality tools are typically worth more. 


Empire Loan offers pawn loans on designer handbags, pocketbooks, purses, wallets, knapsacks, sneakers, and other accessories. The value of these items is determined by their secondhand selling price on websites like eBay. High-end designer bags like Louis Vuitton, YSL, Gucci, Dior, and others may sell for thousands when they’re brand-new and may retain much more of their value on the secondhand market when compared to lower-end accessories. The condition of your items when you bring them in will have a significant effect on the size of the loan we offer. 

Musical Instruments 

Our team of pawnbrokers at Empire Loan offers pawn loans on a wide variety of musical instruments! Guitars, other string instruments, brass instruments, percussion instruments, and more can be used as collateral for a pawn loan! Like with almost any other item category, an item’s condition and secondhand value will determine the size of the loan offered to you. 

Much More! 

Empire Loan also offers pawn loans on a wide range of item categories other than the ones listed above: collectibles, sports memorabilia, coins & paper money, and much more. If you possess an item that has secondhand value, there is a good chance you can use it as collateral for a cash loan.

Contact Empire Loan!

If you have any questions about the items we accept or are interested in getting a pawn loan, please don’t hesitate to contact us or come see us at one of our locations! Call us toll-free at (800) 375-PAWN or visit one of our eight locations in Massachusetts and Rhode Island! 

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May 25th through August 31st!

Monday – Friday: 9 a.m. to 6 p.m. Saturday & Sunday: CLOSED

All Empire Loan stores will be CLOSED on Saturdays for the summer!