Home Contact FAQ How It Works


1. Why come to THE MONEY GUY to get a loan?

We always treat you with courtesy, respect, and efficiency. We will carefully assess your material for purity and value, weigh it accurately, and make you a fair offer. We’ll explain our valuation methods and appraisals so you understand exactly what you have and how we’ve arrived at the value.

2. Why would someone go to a pawnshop to get a loan?

Pawnshops offer the consumer a fast, convenient and confidential way to borrow money. A short term cash need can be met with no credit check or legal consequences if the loan is not repaid. A customer receives a percentage of the value the broker believes the collateral would bring in a sale. Although the loan to collateral ratio varies over time and across pawnshops, a loan of about 50 percent of the resale value of the collateral is typical. In other words, pawnbrokers feel their loan is “paid in full” at the time it is made. When a customer pawns an item, terms of the loan are printed on a pawn ticket that is given to the customer. The ticket states the customer’s name, address, type of identification provided to the pawnbroker, a description of the item, amount lent, maturity date.

3. Is THE MONEY GUY licensed?

Absolutely! , THE MONEY GUY is licensed and regulated by the Secondhand Dealers and Pawnbrokers Licensing Authority, and we work closely with NZ Police.

4. How does a pawnshop work?

Pawnbrokers lend money on items of value ranging from gold and diamond jewelry to musical instruments, televisions, tools, household items, etc.. These items maintain their value over a reasonable period of time and are easy to store, especially jewelry. All customers provide collateral, eliminating the need to distinguish high risk from low risk borrowers. Typically, loans are small averaging between $50 and $100, although they can be as small as $20 or as high as several thousand dollars depending on the value of the collateral and the needs of customers. 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.

5. Do most pawning customers lose their merchandise?

On average, 85 to 90 percent of all loans are repaid. Repeat customers make up most of our business, similar to any other lending or retail establishment. Pawnbrokers know the vast majority of their customers because they often borrow against the same items over and over again. 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 solely the choice of the customer whether he/she elects to repay the loan.

6. What is the foreclosure procedure?

If a customer defaults, the collateral becomes the property of the pawnshop after the loan is overdue by a specific amount of time.

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

Less than one fifth of one percent of all collateral is even suspected 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.

8. Can I make partial partial payments?

You are encouraged to do so  and it will make redemption much easier.

9. What is the difference between buying at a pawnshop and buying at a

retail store?

Mainly price! Pawnshops can offer you quality merchandise ranging from 1/3 to 1/2 off retail prices. Pawn shops are an excellent place to find great deals on gold, diamond & gemstone jewelry!

10. Are my items safe at your pawnshop?

We take great care in providing a safe and secured storage while your items are in our possession. We protect your safety with a high security environment. THE MONEY GUY has a sophisticated security system including CCTV, a silent alarm that links to the local security company, and motion detectors for when the store is closed.

11. How will I be paid?

In most cases, We’ll pay you cash, in a flash!

12. Do I need to bring identification?

Yes, We require valid identification when you’re selling or pawning items with us. Forms of ID we accept include a Driver License, passport ny state, photo ID by a governmental agency.

13. Do I need to do anything to my gold jewelry before bringing it in?

There is no need to clean, fix or sort your old jewelry, other than taking out the obvious costume jewelry, and plated silver or brass items.

14. How can I tell if my items are gold?

The simplest way is to read the karat markings on each piece. Any one of these indicates that your jewelry is gold: For 10 karat- 10k, 10kt, 416 For 14 karat- 14k, 14kt, 585 For 18 karat- 18k, 18kt, 750 For Platinum- 950PT, Platinum, Plat, 950PT 10%IR For Silver – STERLING, 925, SILVER 1/10 GF refers to gold filled and is not solid gold, and we cannot take it in. Vermeil refers to gold plated on Sterling Silver and will be valued as silver. Our in house experts can test your precious metals for content to ensure that you are getting a fair price for your unwanted gold.

15. How much gold jewelry equals an ounce of gold?

It takes 2.400 ounces of 10K, 1.714 ounces of 14K, 1.333 ounces of 18K or 1.091 ounces of 22K gold jewelry to equal one ounce of pure gold.

16. Why should I sell my scrap or unwanted gold today?

There has never been a better time to sell unwanted or broken gold jewelry. Gold prices are near an all time high. That gold sitting in the bottom of your jewelry box is not making interest, and you may be paying interest on your debts. Why not use the locked up capital in your scrap gold to pay off debts, or just have a good time?

17. How much time will I be given to redeem my goods?

You have up to three months to redeem your goods by paying the loan amount plus interests in full. However, loan terms can be extended by paying accrued interests. As a matter of fact, most of our customers choose to redeem their goods within one month or making regular partial payments for easier redemption.

18. Can I make payment online?

Yes. Our bank account: ASB 12-3209-0357899-00. Please use your Contract Number and Surname as reference.

19. What happens if I do not redeem my goods?

Your goods will be offered for sale at public auction or internet auction to recover our costs.