History Of Pawn
Pawnbroking is not a new practice nor does it appeal to just one social class.
As Humankind’s oldest financial institution, pawn loans can be traced back at least 3,000 years to ancient China as well as early Greek and Roman civilizations.
During the 14th Century, King Edward III of England is said to have frequented pawn stores in Europe. Queen Isabella is reported to have pawned her royal jewels to finance Christopher Columbus’ voyage to the New world.
Traditionally, the pawnbroker’s symbol is three gold spheres hanging from a bar. This stems from St. Nicholas, referred to as the patron saint of pawnbroking. He is reported to have left three bags of gold so the daughters of a poor man could afford to marry thus saving them from a life of slavery or prostitution. Later the tradition transformed the bags into three gold balls, which became the symbol of pawnbrokers.
Pawn customers have regular jobs, from working in hospitals to home construction. They support our country and its economy by working in government, teaching our children and caring for the elderly.
Just like you, pawn customers have dreams; want better lives for their children and a sense of security. However, they also have pressing bills and unforeseen financial issues. This is where pawn shops can help these customers in a situation where other short-term financial help is not available.
Put simply-customers pledge property as collateral, and in return, pawnbrokers lend them Money.
The items are then returned upon repayment of the loan. The pawning experience has been around for many years and will always be around to provide a great service to people in need.