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Pawnbroking Fact Sheet

Pawnbroking Fact Sheet

Interested in learning more about the history of Pawnbroking?

Pawnbroking has been around for many centuries and Q's Loan is proud to play a part in continuing a legacy. Check out our pawnbroking fact sheet below to learn more!

Membership in the National Association of Pawnbrokers has in risen from 50 in the 1970s to more than 1000 today.

At Q’s Loan, approximately 90% of all items pawned are redeemed.

All items received by a pawnbroker must to be listed with the city/state’s police department, therefore eliminating the chance of a consumer receiving stolen property.

Free enterprise in the form of pawnbroking has reappeared in communist countries such as China to fill the gaps of their national banking system.

In Beverly Hills, a swank pawnshop caters to the likes of actors, producers and directors. Items one may inquire on purchasing include Rolls Royces, 10 carat diamonds and even jets.

As many as 10 percent of the adult population are served by pawnshops each year.

There are nearly 7000 pawnshops in operation throughout the United States today.

High quality merchandise such as gold and diamond jewelry, electronics and musical instruments can be found in local pawnshops for about half the price compared with retail stores.

The Nursery Rhyme “Pop Goes The Weasel” refers to pawning. A weasel is a shoemaker’s tool and to “pop” is to pawn. “That’s the way the money goes . . . Pop goes the weasel.”

Queen Isabella of Spain was prepared to pawn her crown jewels to finance Columbus’ voyage to America.