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R&J Jewelry & Loan Answers Frequently Asked Questions

Serving the San Jose area since 1978, R&J Jewelry & Loan is a family-owned and -operated pawnshop. As such, we care about our customers and providing them with short-term cash loans to help them get through rocky financial periods. If this is the first time you’ve considered a pawn loan with us, you probably have many questions about how the process works. Our friendly staff has taken a few minutes to answer common questions we receive from first-time customers. If you still have any lingering questions about pawn loans in our San Jose pawnshop, please contact us!

How does a pawn loan work at your San Jose pawnshop? Why should I borrow from you?

The main reason people choose to obtain a pawn loan from our San Jose pawnshop is convenience. Pawnshops offer you a quick, convenient, and confidential way to borrow cash. When you need a short-term cash loan, a pawn loan can meet your needs without a credit check or legal consequences if the borrower fails to repay the loan. When a customer pawns an item with R&J, they sign a legal contract stating the item that was pawned and the specific terms and conditions of the pawn loan. We fully authenticate, verify, and test all collateral items. You’ll have four months to pay back your loan or the option of renewing it for more time.

What’s the difference between pawning and selling items?

Pawning is synonymous with getting a cash loan. You bring in your item to R&J Jewelry & Loan as collateral for a cash loan. Then you have four months to pay the loan back and retrieve your item. Selling is where you sell us your item outright, and it becomes part of our store’s inventory immediately.

How long is your pawn loan period at R&J Jewelry & Loan?

All pawn loans at R&J Jewelry & Loan are for four months with a 10-day grace period. You have the option to renew your loan at the end of the pawn loan’s term for another four months. To renew a pawn loan at our San Jose shop, you must come in and pay the interest due and sign a new loan contract. You may renew your pawn loan as many times as you need to until you’re ready to redeem your collateral item.

What happens if I decide not to reclaim or extend my pawn?

If you decide you don’t want to extend the terms of your loan or you’re unable to pay the pawn loan back in full with interest, then our pawnshop keeps your collateral item, and it becomes part of our inventory. There aren’t any legal consequences if you’re unable to reclaim or extend your pawn loan, nor will it affect your credit (unlike a failure to repay a loan from a bank or other financial institution).

What types of things can I sell at your San Jose pawnshop?

R&J Jewelry & Loan accepts most quality items of value as collateral for our pawn loans in San Jose, CA. We also buy many items outright for our inventory, including gold, jewelry, diamonds, coins, watches, handbags, silver flatware, electronics, video game systems, musical instruments, and so much more!

How do you evaluate my gold, silver, coins, and jewelry?

When we buy gold and jewelry in our San Jose pawnshop, we pay 80% of the *spot price of gold when you sell it to us. When you get a pawn loan, we typically loan up to 50% of the current spot price for gold. Diamonds are evaluated on an individual basis, as long as they’re at least a half-carat or larger. Our team includes a GIA-certified diamond appraiser and buyer, as well as a Rolex watch buyer to help you get top-dollar value for your items!

* Spot price is the current market value of gold, silver, and other precious metals. You can check the spot price of gold by going to www.kitco.com.

How can I be sure my property is safe with you?

Your collateral items are treated with the utmost respect while in our possession at R&J Jewelry & Loan. Valuable items are always locked in a secure vault for the duration of your pawn loan and are left untouched until you come back to retrieve them.

What’s the difference between buying at a pawnshop and a retail store?

Depending on whom you ask, mainly price! Pawnshops are capable of offering you the same high-quality merchandise you’d find in a retail store, but usually at a third to three-fourths of the retail price. Pawnshops make an excellent place to find great deals on gold, diamonds, musical instruments, electronics, video game systems, cameras, and so much more. All you have to do is make us a fair offer – most listed prices are negotiable, and we rarely turn down a reasonable offer!

Are pawnshops regulated in the State of California?

Yes, reputable pawnshops in the State of California are regulated by the California Department of Justice. There’s a section of the California Financial Code dealing specifically with pawnbrokers, and licensing may be obtained through a local police commission or sheriff. Regulating pawnshops federally and locally helps ensure fair financial practices across the industry as a whole, as well as discourage pawnbrokers from dealing in stolen merchandise.

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