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Did You Know
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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.”
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Did You Know
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Pawnbroking is the oldest method of lending money. Evidence of transactions date back to China as early as 2,000 – 3,000 years ago. However, modern pawnbroking became more distinguishable in the Middle Age.
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Did You Know
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A pawnbroker accepted Queen of Spain, Isabella of Castille’s royal jewels as collateral to finance Christopher Columbus’ expedition ships, the Nina, the Pinta, and the Santa Maria for their voyage to America. Queen Isabella’s quote inscribed on the statue, “Columbus’ Last Appeal to Queen Isabella,” in the rotunda of the California State Capitol says: “I will assume the undertaking for my crown of Castille, and am ready to pawn my jewels to defray the expenses of it, if the funds in the treasure shall be found inadequate.”
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Did You Know
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The work “pawn” originates from the Latin word “patinum” that means cloth or clothing. The French work “pan” refers to a skirt or blouse. In the early centuries, the principal assets people had were their clothes and they borrowed money by pawning their clothes.
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Did You Know
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The universal symbol of pawnbroking is the three gold balls and is one of the most easily recognized in the world. The Medici families in Italy along with the Lombards in England were money lenders in Europe. Legend has it that one of the Medicis, under the employment of Emperor Charles the Great, fought a giant and slew him with three sacks of rocks. The three gold balls or globes later became part of their family crest, and ultimately, the sign of pawnbroking.
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Did You Know
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In 1971, Fashion designer Diane Von Furstenburg raised capital to launch her “wrap dress” business by pawning her diamond ring. Her signature wrap dress became a fashion craze in the 1970s and earned her the reputation as one of America’s most well-known designers. Today, Von Furstenberg’s business has grown into a multi-million dollar corporation and has extended beyond clothes into luggage, perfume and assessories.
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Did You Know
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Dec. 6, 1996, marked the first annual National Pawnbrokers Appreciation Day. The celebration was created by Nancy Michaels of Impression Impact in Concord, Mass., and listed in Chase’s Calendar of Events as a holiday “designed to celebrate and acknowledge the valuable lending and retail services provided by pawnbrokers throughout the country.” The chosen date of Dec. 6 was no accident – it’s also St. Nicholas’ Day, the patron saint of pawnbroking.
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Did You Know
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Free enterprise in the form of pawnbroking has reappeared in Communist states such as China, to fill the gaps of their national banking system.
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Did You Know
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Between 70 and 80 percent of all items pawned are also redeemed. Many shops that cater to a more “repeating” customer base, have redemption of over 90 percent.
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Did You Know
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Florida has more than 1,300 pawnshops, the greatest number of pawnshops in the country.
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Did You Know
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Pawnbrokers have state, regional and national industry association which work diligently toward self-policing the industry. In the case of public companies, the Federal Securities and Exchange Commission can be added to all of the other agencies that oversee the industry.
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