Frequently Asked Questions

What sets Fall River Pawn Brokers apart from the others?

At Fall River Pawn Brokers we believe that anyone can simply offer services to customers, but it is the way in which you offer those services that makes the difference. It is of most importance to us to ensure complete customer satisfaction. We are not simply trying to offer a one time service, but to gain your business and trust for life. Our top notch customer service is what sets us apart from all the others. Once you have had the Fall River Pawn Brokers experience we guarantee that you will want to do business with us for life.

How old do I have to be to receive a loan?

Pursuant to laws and regulations an individual must be over the age of 18 in order to obtain a loan.

Will my collateral (item) ever be denied a loan?

We strive to give our customers a loan on almost anything that they have. However, as you can imagine there are certain items that we are unable to use as collateral for loans. This is not because we are saying that your item is not valuable, it simply means that based on factors such as condition and the current market we are currently not able to invest any money in the item.

Is there a minimum loan amount?

In an effort to make the loans make the most sense for our customers, we do have a minimum loan amount of five dollars. However, if you have an item or items that amount to less than five dollars we do offer the option for you to sell your items outright.

What happens if I lose the paperwork for my loan?

If you lose the paperwork for your loan, don't panic, you still will be able to pick up your items with the proper identification. However, due to the process of creating duplicate paperwork there will be a small fee for lost tickets. Please refer to your local store for exact amounts.

If I lose my paperwork and someone finds it, can they pick up my items?

It is our policy that the present ticket holder may pick up the items on the ticket. We have this policy because more often than not, many of our customers have a relative or friend pick up their items. So please in the case that you lose your ticket notify your local store immediately so that they may make a note that it has been lost, and proper identification is required for pick up.

How does the loan work?

At Fall River Pawn Brokers our loans are collateral based, which means you bring in an item to be appraised and your loan is based on the items value. Our loans differ from traditional loans in that our loans require no credit checks and no information about your pay schedule. Depending on the item you use as collateral you are given a period of time ( in 30 day intervals ) to repay the loan plus the interest. If for some reason you are unable to repay the loan in the given amount of time we offer the option of renewing the loan in order to gain an extension. If for some reason you are unable to repay the loan at the end of the given time period, by default you choose to surrender your collateral as repayment.

What is a loan renewal?

A loan renewal is an option that we offer to help in the times when you may not be able to repay the total amount due, but wish to receive an extension on the due date. If state law permits, you are able to pay only the amount of interest that has accrued to date, and the loan is then rewritten/reset for the original time period. When this is done the principal amount (amount borrowed) and the interest rate remain the same, however you will have a new due date.

Will I ever lose my item(s)?

The majority of our customer's repay their loans and retrieve their items. Only by neglecting to repay the total due or arrange for a renewal by the due date will you forfeit your items. Always keep in mind that if you have no intention of retrieving your items, or do not wish to receive a loan we offer to purchase your items outright.

Jewelry VS General Merchandise?

There is a very different appraisal process for general merchandise and jewelry. For more information on the appraisal process for general merchandise please see our How We Appraise section. Jewelry has a specific process based not only on its precious metal value, but its condition and our ability to resell the piece.

How do you appraise jewelry?

We appraise jewelry by first testing the precious metals, or diamonds to determine their authenticity and value. When inspecting diamonds they go through a thorough inspection which includes: visually inspecting the pieces under magnification, weighing the item, and determining the carat size. We then notate the cut, color, and clarity of the stone to determine its resale value. We test the precious metals by using a gold testing solution which determines the karat rating of the gold. By obtaining an accurate reading it allows us to give you the highest loan amount possible.

How is the price of gold determined?

The price of gold is determined by the market price, which is constantly updated for our appraisers on a daily basis. It is important to note that the market price of gold is quoted at 24K and there is a significant difference in price between that and 14K gold for example.

Can you give a price over the phone?

Unfortunately, we are unable to give price quotes over the phone. The process of appraising items for loan is a very involved process which relies on methods we can only accomplish with the item in hand. This includes: a visual inspection, testing the item's functionality, for jewelry inspecting and verifying the authenticity of the piece, and assessing the condition of items for resale purposes. We refrain from over the phone quotes in an effort to give the customers only accurate prices.

Can I receive a loan on a firearm?

Pursuant to the laws in our current states of operation, Massachusetts and Rhode Island, we are unable to take in firearms or any weapons as collateral.