Frequently Asked Questions

1. What is Garden City Exchange?

a. Garden City Exchange serves our customers in 3 ways: 1). We buy your items of value for fast cash on the spot. 2). We act as a reseller by selling the slightly used merchandise we purchase to customers at a much more reasonable rate than retail. 3). We serve as a pawnshop in which customers can receive a cash loan in exchange for items of value that serve as collateral.

2. How does a Pawn Shop work?

a. Pawn shops are regulated by state and federal laws and offer customers an alternative lending option to traditional loans from financial institutions, credit cards or family members in order to meet short-term cash needs. The biggest benefit is cash on the spot, in exchange for items of value that serve as collateral. Items that are not reclaimed at the end of the redemption period are then placed for sale. There is an agreed upon Repurchase price that includes Sales Tax and a timeframe that your items must be paid back. Once paid, the item is returned to you.

3. How can I be sure the merchandise I purchase at a pawnshop isn’t stolen?

a. Less than one fifth of one percent of all collateral is even suspect as having been misappropriated in any manner. Thieves and robbers are a pawnbroker’s worst enemy. Pawnbrokers work closely with local law enforcement to catch and prosecute these perpetrators. A customer must provide positive picture identification to show evidence of the transaction. This information is then presented to the police department, therefore decreasing the likelihood that a thief would bring stolen merchandise to a pawnshop. Pawnbrokers are trained to look for signs of stolen property to avoid these costly mistakes. it is not in the interest of the pawnbroker to accept potentially stolen merchandise because the police can seize the merchandise and the pawnshop loses the collateral and the loaned money. You must also be at least 18 years old to sell merchandise.

4. Why can I get $ for my gold?

a. It is thought that the price of gold will continue to rise because there is a relatively limited supply of the precious metal. With government spending increasingly out of hand and unrest in the Middle East, investors are feeling more secure in putting their money into gold and silver that hold a higher value. Many feel that because of the continued printing of money while the country faces such enormous debt, it is inevitable that the US dollar will eventually collapse. However, gold and silver will still retain their worth.

5. What makes Garden City Exchange different than other pawn shops?

a. At Garden City Exchange, we flat out pay you more money. And we care about our customers. We strive to bring you the best possible experience, which is why our pawn shop is clean, organized, safe and friendly. We have a 2,500 square foot showroom and we treat all of our customers with respect. We also offer additional cash services.

6. What other services does Garden City Exchange offer?

a. We also offer cash advance services, bill pay services, pre-paid debit cards, lotto, keno, online store on eBay, and free quotes.