Compelling Facts and History about Pawn Shops that you must know!

When banks refuse to give loans when friends and family deny landing money, there is always one option open: Pawn Shop. There are many pawn shops open nowadays, but not many people know the fascinating truth about the history of pawn broking.

•    Most pawned item according to pawn brokers

Although pawnshops take anything which is having value and quality, a majority of pawnbrokers are interested in jewelry. Jewelry of gold, silver and platinum has different values based upon their quality, weight and current price. Similarly, brokers accept gems according to its quality. There is always a risk of value fluctuation while dealing with jewelry.

Over the time, people have been pawn trade over electronics as well. For example, video games, laptop computers, television sets, and so on. But, jewelry is still the most popular form of pawning.

•    Pawn broking is not bad

The majority of people hold several beliefs about pawn shops. People see pawn business as close work which only serves pawn brokers. There is also a misconception that pawn work is not possible without getting your hands dirty each and every time. On the contrary, the history shows something different.

The story about Saint Nicholas is known for his kindness and different approach to pawn business. There was an unfortunate man who was having three daughters. All of his daughters were forced into prostitution. Saint Nicholas came to a rescue for the girls and saved them by giving three bags of gold as a dowry for marriage.

•    The great pawn history about crown of Queen Isabella

Queen Isabella of Spain, pawned her crown jewels to save her capital. She funded Christopher Columbus’s very first journey to the New World. Her ruby and pearl necklace were given to her by King Ferdinand as a wedding gift and Castile crown. Moreover, it was a belief that Queen Isabella gave some of her jewels to Columbus and it brought other investors as well Like, Santa Hermandad police organization. That foundation provided funding for the Pinta, the Nina and the Santa Marla for crossing the Atlantic Ocean.

Before the economic collapse of 2008, the rush was very less in pawn shops. But, after that time, traffic was upsurge in pawn shops as wealthy people started trading in with their valuables for loans. Very next year of it, the History Channel came up with the reality show about Pawn Stars, and it became the network’s greatest hit with removing all the misconceptions about pawn broking.  

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