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Pawnshops see steady business as people scrape to make ends meet
the Kalamazoo Gazette    Share   Share on FacebookTwitterShare on LinkedinE-mail article
In a time when quick cash is king, pawning is becoming a fast way to get much needed money. Pawning, which began more than 3,000 years ago in ancient China as a way to provide short-term credit to peasants, and thrived in ancient Rome and Greece, is once again a popular method for folks looking to rid themselves of assorted goods and make a few — or a few hundred — dollars in the process. More

EZCORP 1Q profit rises 73 percent
BusinessWeek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
EZCORP Inc. said its fiscal first-quarter profit rose 73 percent on higher revenue driven by demand for pawn shop loans. Looking ahead, its CEO said second-quarter profit would be below Wall Street expectations but predicted that 2010 profit would beat the Street view. More

People pawn the weirdest things
Wireless Flash— FlashNews    Share    Share on FacebookTwitterShare on LinkedinE-mail article
These days, people try to pawn the strangest things for quick cash. Emma Pankhurst of U.K.-based online pawnbroker,, says a farmer recently tried to pawn his livestock in exchange for cash. Borro had to turn down the offer since live sheep and cows can’t be easily kept in their storage facilities. More

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Residents in Kentucky city turn to pawnshops during tough times
WBKO-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Ray Cardwell of Bowling Green, Ky., tries to get the motor to kick in on a circular saw... but it doesn't want to cooperate. As desperate as a customer may be for money, Cardwell just can't take a broken item until it's fixed. "Some people they'll try to bring broken stuff and pawn it," said Cardwell, "'cause when they're gone and out the door we're stuck with the broken stuff and they're gone with our money."

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Gold futures trim losses
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold futures pared their losses, but the overall tone for the day was negative as investors were leery of riskier assets. February gold fell $13.50, or 1.2 percent, to settle at $1,089.70 an ounce on the Comex division of the New York Mercantile Exchange. The low for the day was $1,081.90. Jewelry buyers in India, the world's largest gold jewelry market, as well as market investors have been tending to increase their purchases when the metal falls below $1,100, said Carlos Sanchez, associate director of research with CPM Group. More

Pawnbroker boom in North Wales during credit crunch
The Daily Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnbrokers in the U.K. are reporting significant increases in business as consumers feel the crippling effects of the credit crunch. High Street store Cash Converters has around 10,000 customers currently registered for a buy-back service, including 4,000 new customers registered in the last 12 months. More

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New pawnshop ordinance would require electronic registration
The Fergus Falls Daily Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Ken Williams, the owner of Golden Lakes Pawn in Fergus Falls, Minn., dropped a 9-inch-tall stack of paper slips on the counter with a "thump." "That's about a year's worth [of pawn tickets]," he said. The Fergus Falls Police Department used to regularly send someone by to pick up his tickets and enter them into a local computer database, but the process became too time consuming, and there isn't enough manpower in the department for such a plan to work anymore. Williams said he has several years of undisputed tickets in storage. More

New-Demika-Self-Locking Magnetic Clasp Selling System
New self-locking magnetic clasp is for customers who have difficulty fastening their existing necklaces and bracelets.We are featuring a counter display selling system that includes 34 assorted clasps, one attached sample necklace with clasp, counter display with locking drawer, 100 free consumer brochures and 250 mailer cards to build additional traffic. more

New pawn fee to be assessed for pawn tracking system
The Arizonia Tribune-News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A proposal to implement a $3 fee on most pawn transactions was met with resistance from several pawnshop owners in Arizona, but was ultimately approved by the Navajo County Board of Supervisors, with a few caveats. Funds generated from the fees will be used to implement a new electronic pawn tracking system at the sheriff's office. More


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