5211 Blanding Boulevard,

Jacksonville, FL 32210

517 Cassat Avenue,

Jacksonville, FL 32254


Frequently Asked Questions

Pawnbrokers lend money on a variety of items that have value – from jewelry and gold to tools and vehicles. A customer borrows money on the item, while the pawnbroker holds the item for collateral against the loan. The amount of money loaned can range from $5 to thousands of dollars. In Florida, the loan is for 30 days with an additional 30 day grace period. The interest ranges, but cannot be more than 25% for 30 days. Customers can either redeem their item by paying off the loan and fees, or they can extend the loan by paying just the interest.

The process is much the same as any other lending institution, with the primary difference being the size of the loan, the collateral and the holding of the merchandise until the interest or the loan has been repaid.

Less than one-tenth of one percent of all loans are identified as stolen items. Pawnbrokers work closely with local law enforcement. Florida pawn shops require a government issued ID – such as a driver’s license – to do a transaction with a potential customer. In addition, the item is thoroughly described (using serial numbers, model numbers, weight, color, etc.) and the information is provided to law enforcement. Because of these requirements, the likelihood of a thief bringing stolen items to a pawn shop is drastically reduced. It is not in the interests of the pawnbroker to accept potentially stolen merchandise because the police can seize the merchandise and the pawn shop owner loses the collateral and the loaned money.

Unfortunately, the media is quite neglectful when they continue to portray pawn shops as rundown fences of stolen goods. That depiction can’t be farther from the truth. Members of the United Pawnbrokers Group strive to maintain a positive reputation in their community and are quite proud of their stores.

On average, 70 percent of all loans are repaid. Pawnbrokers offer non-recourse loans, looking only to the item being pledged to recover their investment if the borrower chooses not to repay the loan. It is the choice of the customer to repay the loan.

When jewelry is used as the collateral for a pawn loan, we test the precious metals and gems to determine its worth. For example, diamond testing includes a visual inspection with a jeweler’s loupe and we determine the weight of the item, and the size, cut, color, and clarity of each stone.

Additionally we test jewelry using a metal analyzer which takes an x-ray of your jewelry and lets us know the amount of precious metals contained within it. Our metal analyzer machine is licensed and tested monthly by Federal Inspectors.

The value of gold is determined by factors including the type of gold (24K vs 14K for example), and the current market value, which is constantly changing.

Our staff updates the gold pricing every 10 seconds using a trusted resource for spot pricing precious metals.

Unfortunately we cannot give a quote over the phone. In order to give the most accurate value of your item we must personally see the condition of it and if needed, test for functionality and/or quality.

Even though your item is in pawn, you still own it. It is our responsibility to keep it in good condition and safe while it is in our care. Your item is safely stored in a secure room until you come back to pay the loan in full per the term of our agreement. Jax Jewelry & Pawn stores are fully insured for the loan value of the items we keep.

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