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Winning Futures: Les Gold to serve as celebrity auctioneer

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Please Join Les Gold at our 9th Annual Corks & Forks Fundraiser February 25th at The Townsend Hotel. Guests will sample wines by Woodberry Wine, enjoy an elegant dinner, and live entertainment.

VIP tickets are sold out! General tickets are $175 and available at http://winningfutures.ontrapages.com/corks-and-forks

Must be 21 or older to attend

Semi-formal attire (suits, knee-length or floor-length dresses)

To learn more about the event and to purchase tickets visit http://winningfutures.ontrapages.com/corks-and-forks

To learn more about Winning Futures visit www.winningfutures.org

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BIG WAVE SANTA TO DELIVER DONATED ITEMS TO OAKLAND HOPE

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Santa Claus is coming to Pontiac, Michigan! This special evening begins on Friday, December 9th at Elizabeth Lake Urgent Care in Waterford, Michigan at 5 pm where Santa will greet families and children with candy canes. Then, around 6:30, he’ll make a special stop at American Jewelry and Loan’s Pontiac location to pick up donated items which he’ll then deliver to Oakland Hope at 73 Summit Drive in Pontiac.

“We’ve been collecting items including paper goods, toiletries, and diapers to donate to Oakland Hope and we’re excited that Santa will deliver them for us,” said Les Gold, owner of the iconic pawnshop “he’s probably the only guy busier than me at this time of year.”

“We have made a significant investment into Pontiac, and we’re thrilled to meet fellow business owners like the team from Elizabeth Lake Urgent Care and of course community partners like Oakland Hope,” added Seth Gold “giving back to the community is important to our family, our employees, and our business.”

Both American Jewelry and Loan and Elizabeth Lake Urgent Care have been collecting items to benefit Oakland Hope. “The need in this area is great, particularly at this time of year,” said Norma Okonski, Executive Director. “We look forward to Santa’s special visit and look forward to this opportunity to welcome the community to our new facility.”

 

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Understanding Pawnshops–from the Inside Out

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Pawnbroking is one of the world’s oldest business models, dating back to ancient times.  Television shows like the one based on our Detroit pawnshop, American Jewelry, and Loan, have helped to raise consumer awareness of the industry which makes us very proud. For all of the positive light, however, there still exists a lot of confusion about what a pawnshop truly does.

We work, therefore, to educate consumers about pawn loans. Pawn loans are non-recourse collateral loans. We recently partnered with three nationwide nonprofit organizations who help many of the unbanked or underbanked customers that pawnshops often serve: Operation Hope, Greenpath Financial Wellness, and Junior Achievement. We hosted a workshop that was designed to inform our customers about their lending options and connect them with resources that could make a positive difference in their lives. We believe that everyone has the right to make informed choices when they need quick access to cash.

We are often asked about how pawnshops determine the value of merchandise that’s brought in. Recently, we’ve seen some very misleading information in the press that talks about the disparity of values from one pawnshop to the next. It’s time to set the record straight, so we’ve consulted with some of our pawnbroking peers from all over the country and asked them to weigh in on just how the value of an item that a customer brings to a pawnshop is determined.

“It is imperative that we see the item in person to ensure condition and proper valuations for both parties involved,” says Brad Blaylock from Marble Falls, Texas. At his store, Best Little Pawn Shop, he notes that they never suggest shopping valuations from store to store by electronic means or without taking the item with you as that will frequently end in disappointment when the pawn shop finally does see it in person. “Another reason for valuation differences may be simply demographics. “We may be able to value a farm implement significantly higher than a competitor  20 miles away in a larger city. Valuations can vary drastically within our state of Texas, many times just from one town to the other.”

Third generation pawnbroker Taylor Packwood adds “It is very apparent that many of our customers are in stressful situations, and for many of them, we are their first stop for help. We follow the Golden Rule with every customer” noting that while customers want the highest value for their item, his staff is careful not to over-loan which can lead to higher default rates. Nationally, the average redemption rate is 80% or higher.

At Iowa’s Allied Pawn, Jamie Smith notes that his team “Always qualifies the customer first” before looking into market value. “We always look for creative solutions we try to avoid saying ‘no.'”  Kim Foster, whose family operates six locations of Uncle Dan’s Pawnshop in the Dallas area, concurs noting that they always cite numerous sources when arriving at a value for an item.

Cliff Zlotnik captures the personal nature of the business “When we believe the customer is strongly attached to an item and wishes to try and redeem it, we offer to either loan or buy the item at the same price.” At Sparklez Jewelry and Loan, he says, “We don’t want them to have to sell an item and endure undue stress just to get a little more money.”

Pawnbroking is a complex collateral lending model with a history as long as civilization itself, and a promising future. Like most pawnbrokers, we always welcome the opportunity to help curious customers learn more about the work that we love. Learn more at our website or drop by your local pawnshop today!

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Cash in YOUR Closet!

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Every day, American Jewelry and Loan helps metro Detroiters get the cash they need for their unwanted gold, jewelry, or other valuables. Still, not everyone is familiar with how a pawnshop works.

Therefore, we’ll be hosting a ‘Cash in Your Closet’ event on Saturday, November 19th so that new customers can bring their items in to our experts for assessment. Consignment can take weeks and selling online can be a hassle — stop by one of our THREE Metro Detroit stores to get the cash you need to fund your holiday shopping list!

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WAREHOUSE SALE: November 1-5

By | Business, from Staff | No Comments

We’re cleaning out the warehouses of all THREE of our Metro Detroit stores as we get ready for the holidays! Our loss is your gain–come and take advantage of MASSIVE savings on game systems, televisions, electronics and sound equipment, fur coats, and more! TRIPLE Gold Bar savings on any clearance item for our loyal customers. Stop by Hazel Park, Detroit, or Pontiac!

Learn more at our Facebook page ‘Events’ tab!

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Join our team

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American Jewelry and Loan is experiencing unprecedented growth and has openings in key positions for our three Metro Detroit locations. Interested candidates can submit resumes to [email protected]

LOAN CLERKS

RETAIL MANAGERS

SALES ASSOCIATES (click HERE to learn more)

TECHNOLOGY ASSOCIATE (click HERE to learn more)

CONTROLLER

 

 

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Welcome Dream Cruisers!

By | Detroit Love, from Staff | No Comments

from Seth’s blog: Every year, Detroit rolls out the red carpet for muscle car enthusiasts from all over the world to attend the Woodward Dream Cruise.

Most people know that my dad and I love cars (I talked about my taste in cars with Motor Trend and one of Les’ restorations was featured in Car and Driver). But one of our favorite parts of the Woodward Dream Cruise is the opportunity to meet new customers from all over the world.

In town for the Woodward Dream Cruise? Stop by, we’d love to see you — Welcome to Detroit! [Read more at www.sethgold.com]

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Les and Seth Gold Attend National Pawnbroker’s Convention

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As they do each year, Les and Seth Gold traveled to the annual convention and tradeshow of the pawnbroking industry, Pawn Expo, July 12-14, 2016.

Among the many highlights was  the selection of Greg Engstrom, founder of Ameripawn in Valparaiso, IN, as the recipient of the 2016 Pawnbroker of the Year Award. Other award recipients are listed at the NPA website.

While in town, Les stopped by the Morning Blend to talk about trends in the pawnbroking industry as well as American Jewelry and Loan’s workforce diversity program which employs individuals with autism via Power to the Grid. Click below to watch the video via MSN:

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Detroit's Biggest & Baddest Pawn Shop, American Jewelry & Loan, is located in the heart of 8 Mile.

We’re Hiring: Walk-in Interviews

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About American Jewelry and Loan: American Jewelry and Loan sets the industry standard by providing the best pawnbroking experience to anyone that connects with us. We value team members who are: able to think fast on their feet, passionate, hard-working, and proactive. This is a fast-paced workplace which has been the subject of a highly successful television show. This makes it one of the most recognized businesses in the world. But despite its visibility, American Jewelry and Loan still operates like other family-owned businesses every single day.

Currently hiring for positions including:

Sales – Ability to provide top notch customer service while meeting the client’s and company’s needs. Able to work in a fast paced, competitive environment while promoting the company’s mission, vision, and values every day. Current product knowledge with electronics, tools, collectibles, etc. is a plus.

Loans – Able to work in a fast paced environment while providing top notch customer service, meeting customer’s needs, and securing items for the company. Current knowledge of electronics, tools, collectibles, etc is a plus. Ability to resolve conflict by creating a win-win situation.

Jewelry Loans – Able to work in a fast paced environment, while providing top notch customer service, meeting customer’s needs and securing items for the company. Willingness to learn while supporting all management initiatives and providing assistance to peers. Looking for detailed individuals that can multi- task and work with others.

Jewelry Sales – Able to work in a fast paced, dynamic environment that provides countless opportunities for multi-tasking. A basic understanding of jewelry and its properties is a plus. Willing to work in a rewarding, competitive atmosphere while promoting the company’s mission.

Warehouse – Able to work in a fast paced environment, that demands detail and top notch customer service. Able to lift 30lbs and stand for long periods of time. Ability to support management, assist peers, and drive the company’s mission.

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Merry and Bright!

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The holidays have always been a busy time for American Jewelry and Loan — whether it’s shoppers looking for fast cash to finish buying for everyone on their list or bargain-hunters who are looking for that perfect gift at a fraction of the retail price, we’re always rockin’ at this time of year!

Follow us on Instagram to see photos of Les carving the turkey and other perspectives from the showroom to the warehouse! Check out the Gold Tone podcast on Play.it or iTunes to hear the Golds talking about their holiday traditions at the store!