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And you're probably wondering, “Can you pawn something if you already have something pawned?” The answer is a definite yes. Pawn Shops allow you to take out multiple loans even if you already have one.

Cons. Loss of collateral: If you're unable to repay the loan, you may lose the item you used as collateral. This is why it may be wise not to put down any items you're not comfortable losing should you not repay the pawn shop loan. High interest costs: Pawn shop loan interest and fees can be expensive.

Another option is to pawn multiple items for multiple loans. Many pawn shops might set up multiple loans at once with a person for different items, like a watch and a diamond ring. Each item might have its own loan amount and need to be paid off.

You can pawn your items as many times and as often as you want. However, it's important to note that the item will lose value every time you sell it.

These loans don't require a credit check or have any specific requirements other than the item you leave as collateral for the loan. You'll typically walk away with around 25% to 60% of the pawned item's value, with the average loan being $75 to $100.