Located in Durango, Colorado
Colorado Coin Loan Program
We offer low-interest loans on gold, silver, and platinum bullion as well as semi-numismatic precious metals.
Coin Loan Program in Colorado
Colorado Coin Dealers has partnered with KP Pawn to offer low-interest loans on gold, silver, and platinum bullion, as well as semi-numismatic precious metals. Located in Durango, Colorado, we chose KP Pawn due to their reputation as the leading pawn shop in Southwest Colorado, with locations in Durango, Cortez, and Ignacio.
At our Durango location, Colorado Coin Dealers offers low-interest loans on gold, silver, and platinum, lending up to $10,000. Our certified graders are on hand to evaluate your precious metals, allowing us to lend up to 70% of their market value, depending on your specific needs.
Here’s How it Works…
1. Call one of Colorado Coin Dealers metal specialists to help determine your loan needs as well as what metal(s) you want to use as collateral.
2. Our specialists will get you set up in KP Pawn’s mobile pawn app, an app where you can take a photo of your precious metals to begin the process via online.
3. Once we both agree to a loan amount, you can either physically bring in your precious metals or have them shipped to Colorado Coin Dealers via registered mail.
4. Upon receiving the metals, we open everything under 4K security cameras and have multiple graders sign off to ensure your metals are completely secure.
5. We write a 30-day loan agreement with an interest payment due every 30 days. If you physically bring your metals in we can give a cash loan or if you ship your metals in we can wire transfer, pay with Paypal or mail a cashier’s check and shortly have funds delivered to you, the choice is yours!
Colorado Coin Shop
and Coin Brokerage
Let’s go over a scenario with a coin collector (in this case, we will call her Jane.)
Jane has been stacking up gold and silver bullion for the last 10 years. Due to life circumstances, she has now found herself needing $10,000 to pay some bills, but she doesn’t want to sell her gold because it has been a good investment for her that she trusts.
She also knows she is due for a $10,000 tax return and should be receiving it in the next couple of months. Jane calls Colorado Coin Dealers and wants to know how many of her 1-ounce gold Canadian Maple Leafs she needs to send to us for collateral. We tell her that we can lend her $10,000 if she sends us 7 Maple Leafs for collateral.
Colorado Coin Dealers walks Jane through the mobile pawn app and emails her the contract. Jane signs the contract and ships her gold via registered mail. Colorado Coin Dealers receives the gold and grades the Maple Leaves as “BU” just as Jane stated.
Colorado Coin Dealers then releases funds to Jane via wire transfer and she tells us she will drive down from Denver, Colorado as soon as she gets her tax refund.
After 30 days, Jane has yet to receive her tax refund and checks her mobile pawn app and sees that a $300 interest payment is due. Jane makes a payment and renews the loan for an additional 30 days. After 2 more weeks go by, Jane finally gets her tax return and calls Colorado Coin Dealers to arrange payment. Jane still wants to come to Colorado Coin Dealers to visit Durango, Colorado but cannot make the trip for another month or so.
Jane doesn’t want to continue paying interest on her loan so she mails us a cashier’s check for the sum of $10,300 and asks Colorado Coin Dealers to continue storing her gold in the vault for another few weeks. The following month Jane makes the trip to Durango to pick up her gold and while she is there she checks out Colorado Coin Dealers’ outstanding coin collection. Through this short-term loan, Jane only paid $600 in interest and realizes that she is money ahead of her other option of refinancing her home. Jane totals up the amount she would have paid for an appraisal, loan origination fee, closing costs, and interest on the $10,000 amortized over 30 years and recognizes Colorado Coin Dealers has saved her thousands.
Jane is impressed with Colorado Coin Dealers’ integrity, value, and ease of doing business and wants to learn more about Colorado Coin Dealers buy program to sell some of her silver bullion.