If you’re looking to get something pawn shops across the U.S. for less than its original retail price, then a pawn shop (also known as a pawnbroker) might be just the place for you. They’re a fast and convenient source of cash for 30 million Americans every year, providing short-term, non-recourse loans based on personal property that’s already owned. But with that convenience comes risks, too.

It’s important to understand how a pawnshop works so that you can make smart decisions and avoid any financial missteps. This article will help you understand how they appraise items, what types of items they accept, their interest rates and more.

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In a nutshell, a pawnshop lends money to people who bring in valuable items they leave with the pawnbroker until they pay back their loan plus interest within an agreed-upon timeframe. Most communities require that those who bring in their valuables show identification to deter theft. And to ensure that they’re not being used to launder stolen goods, a pawnshop has to store all pawned items for 90 days so that the police can investigate any potential theft claims.

Across the country, electronics—especially Apple’s smartphones and laptops—are the most popular items to pawn. But the data is filled with regional differences: Guns are pawned at disproportionately high rates in many Western and Southern states, while luxury watches are more popular in places like California and New York. These variations in what we pawn tell stories about regional identity, class and gender—as well as the power of specific brands like Apple.