That's something Chad Elliott and Cara Coogan Coogan hope to demonstrate at Oceanside Jewelers in the heart of downtown Oceanside.
The City Council in a 4-1
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vote this week approved a permit to allow Oceanside Jewelers at 222 N. Coast Highway to loan cash for jewelry, watches, diamonds and other gems, gold, silver coins and bullion.
"The change will be imperceptible to the public," said Chad Elliott Coogan, who uses Elliott as his last name professionally.
For starters, Elliott said, there will not be any big signs outside his store Identifying it as a pawnshop.
Under conditions imposed by the council,
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"We're restricted from using the word pawn or pawnshop," he said.
Oceanside Jewelers therefore will not loan money on some of the other staples of pawn shops, seeking as musical instruments and electronics.
Since he opened the store five years ago, Elliott said, he's built a loyal, high-end clientele.
Aside from the pieces he buys for resale, he makes the jewelry he sells in a workshop at the back of the store, where he hunches over a microscope to do fine engraving work or set stones in jewelry pieces.
. "I'm an old-school, traditional jeweler," he said
Besides finished jewelry, Elliott has diamonds and other gems from loose Which customers can choose to customize what they buy.
"A lot of people want to spend more money on the stone, knowing they're going to move it from ring to ring over the years," he said.
Elliott said most of the jewelry in his store sells for $
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1,200 to $ 3,500, although he does have some less expensive wedding bands for the bridegroom on a budget.
"We run a really quality shop. We take pride in the quality stuff we produce, "Elliott said.
He said he has won awards for jewelry he has designed from the Platinum Guild International and the American Gem Association. The award-winning pieces are on display in the store's front counter, as is the Gem Association award,
Just how much of his business will be loaning money on jewelry is an open question. "We really do not know," Elliott said. "With the downturn in the economy, a lot of jewelry stores can not rely on retail sales anymore."
Elliott said he decided to apply for a pawnbroker's permit after the City Council in 2010 approved a pawnshop across the street -. Coast Jewelry & More, Which has yet to open
When it does, Coast Jewelry would have an advantage
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if it could loan money on jewelry and he could not, Elliott said.
"I do not mind competition, as long as it's a fair playing field," he said.
Main Street Oceanside, Which promotes downtown businesses, backed the couple's request for a permit.
"It seems counterintuitive for us to be supporting a pawnshop," said Main Street Executive Director Rick Wright. "In this case, it's a matter of parity."
Two years ago, Wright vehemently opposed Coast Jewelry & More pawnshop's proposal, but now that it's there, he said it was only fair to allow Oceanside Jewelers to give loans on jewelry. He said this should be the last pawn business should allow the city downtown.