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Home   About   Membership   Resources   Government Affairs   Meetings & Events Jan. 31, 2012

Pawnshops offer quick solutions in tight times
The Associated Press via Lansing State Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnshops are beckoning from the shadows. At a time when banks have shut their doors on those with bad credit, a growing number of borrowers are pawning their jewelry, electronics and other valuables to make ends meet. The National Pawnbrokers Association says its members are reporting record growth as a result of persistently high unemployment, coupled with soaring gold and metal prices. More

TV loves pawnshops, but should you?
MSN's Money Talks News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnshops have been around for a long time, by some estimates thousands of years. And much of that time they've probably been regarded as lenders of last resort. But these days there's apparently a strong movement afoot to change that image.

Purple heart sold at Columbus, Ohio, pawnshop
WCMH-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
What is the value of the longest running medal in the U.S. military? For one Purple Heart, it was $30. Recently, someone walked into Uncle Sam's Pawn Shop in Columbus, Ohion, and wanted to sell a Purple Heart – something the pawnshop had not seen in decades. After a not-so-convincing story about finding it on the street, the seller accepted $30 for the Purple Heart. Buyer Gary Chasin took the item, not to make a profit, but to identify the recipient of the award. More

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Man with gold teeth using fake gold to con pawnshops
WFXL-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Law enforcement on the lookout for a con artist who used fake gold to scam pawnshops in Georgia and Florida. Investigators call it "bait and trap." "You don't see it as much as you used to in the old days but it's still performed and if someone is really good they can get away with it," says Capt. Craig Dodd with the Dougherty County Sheriff's Office in Georgia. "They can get you into all kinds of conversations about all kinds of different things. They're very much like a pick pocket where the pick pocket bumps you, distracts you in some way and they're in your pocket." More

Rise in luxury goods ending up at pawnbrokers
BBC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
If you want evidence of how the recession is hitting people's pockets, take a look in a pawnbroker's window. Londoners are pawning more and more expensive jewellery, fine art and even cars as those with luxury assets decide to turn them quickly into cash.

New businesses crop up in Wythe, Va. — Pawnshops
SWVA Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnbrokers are becoming major lending institutions for individuals needing small amounts of cash in a hurry. Two such businesses have set up shop in Wytheville, Va., recently. "We're in the business of selling money, as our owner says," said McKinley Craft, manager of Gardner's Family Pawn Shop. "Our customers are from across the board – all ages, races and gender. Ninety-eight percent of them do come back and pick up the items they pawn." More

Gold prices top $1,700 an ounce as Fed keeps interest rates low to encourage economic growth
The Associated Press via The Washington Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gold prices rose after the Federal Reserve said it will keep interest rates near zero until 2014 at the earliest to help jump-start economic growth. The central bank said the economy is growing at a moderate pace but there has been slowing in global growth. It described inflation as "subdued" and held off on any further bond-buying programs. More

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Pawnbroker to open 12 sites in Scotland
Scotsman    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Pawnbroking chain The Money Shop announced plans to open 12 stores in Scotland as part of a U.K.-wide expansion program. The company, which already operates more than 20 outlets north of the Border, said the move was in response to rising demand due to less credit being made available by banks and changing attitudes to pawnbroking. More

Kentucky pawnshop owner helps catch a man suspected of selling stolen guns
WYMT-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Eleven stolen guns and other electronics connected to thefts in five counties are recovered at a pawnshop in Williamsburg, Ky. Police arrested two people in connection with the stolen items, one with the help of the pawnshop owner. More

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Pawnshops thrive in good, bad economies
Houma Courier    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Wheelchairs, welding torches, a jukebox and cases filled with handguns populate the cluttered back room of Fred's Pawn in Houma, La. Owner Jon Theriot keeps the goods on hold for three months in case their owners want to them back with 20 percent interest. More

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NPA Weekly NewsBrief
Colby Horton, Vice President of Publishing, 469.420.2601   Download media kit
Yvette Craig, Sr. Content Editor, 469.420.2641   Contribute news
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