Pawnshop owners decry Law G
The intent of Law G — also known as the Pawn Shop Law — is to reduce crime, but recently, pawnshop owners were saying it would be a crime for the Albany County, N.Y., executive to sign it. In November, the Albany County legislature voted 20-14 to pass the controversial bill, now the issue is in the county executive's court. Ill-conceived and burdensome is how second hand dealers refer to Law G. If enacted, it would require all pawnshop owners in Albany County to collect names, addresses, and telephone numbers of their customers, record detailed descriptions of the items they buy, and provide those records to police. More
Musical Instrument Gift Day and The Mr. Holland's Opus Foundation keeping music alive in America's schools
National Pawnbrokers Association Share
On Dec. 6, the National Pawnbrokers Association (NPA) will sponsor its fourth annual Musical Instrument Gift Day, during which pawnbrokers from around the country generously donate musical instruments to organizations in need.
This year, NPA is working closely with The Mr. Holland's Opus Foundation, a non-profit organization that donates both new and quality refurbished instruments to under-funded music programs. These programs lack the resources to keep up with equipment loss and/or provide students on waiting lists, or who have to share instruments, with instruments of their own.
Our event is held on December 6th in honor of St. Nicholas Day and National Pawnbrokers Day. St. Nicholas was famed for his generosity and his charity to the poor and is the Patron Saint of Pawnbrokers.
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Pawnshops become a low-budget alternative to Santa's workshop
The Denver Post Share
If power tools, musical instruments, jewelry and DVDs are on your shopping list, consider shifting your attention from Santa's workshop to a pawnshop. Go with a discerning eye, some knowledge about how to assess the object of your quest, and this question: "What are your warranty terms?" "It varies by location, but most of the chains offer some kind of warranty, and check with individually owned shops," says Eric Garman, president of the Colorado Pawnbrokers Association and regional director of More
Pawnshops fill a need for the cash-strapped
The Fayetteville Observer Share
Pawnshops once were ubiquitous along the roads leading to Fort Bragg, N.C., operating in old strip centers and smoky storefronts. But the recession and prolonged recovery have changed the way many shops do business, brokers say, bringing in a new variety of customers seeking quick loans. "It's everybody now," said Trey Pugh, general manager of Jim's Pawn Shop. "Most of our customers need short-term loans and need it for 10 to 20 days." More
Pawnshops doing what big banks won't
If you don't need a loan, getting one shouldn't be too much of a problem. According to the Small Business Administration, large business loans (in excess of $1 million) increased by 5.8 percent, up from negative levels the previous year. But the same study, released by the SBA in July, found that the number of small business loans — those under $1 million — dropped 5 percent last year, with a $45.3 billion decrease in value, or 6.9 percent. More
Pawnshop sales solve burglary
The Arizona Daily Sun Share
A northern Arizona man has been arrested on a variety of charges in connection with a series of burglaries in the Garland Prairie area. The case broke with a check of pawnshop records. More
China Daily Share
Banned after the founding of the People's Republic of China, pawnshops have reemerged with a new and friendlier face The traditional image of a pawnshop is dark and desperate. Typically in China, as elsewhere, they were a place where the poor went to put food on the table and entering one came with a large slice of social stigma attached. More
American Canyon, Calif., extends moratorium on new pawnshops
Vallejo Times-Herald Share
No one will be opening a pawnshop or precious metal exchange business in American Canyon, Calif., until at least mid-October, a unanimous vote at a special city meeting ensures. The moratorium on these types of enterprises adopted last month, was extended by 10 months, 15 days. More
Pennsylvania woman accused of stealing necklace worth $20,000 and pawning it for $225
The Tribune-Review Share
A cleaning woman accused of stealing a $20,000 necklace from a client will face a preliminary hearing. Sewickley Heights, Pa., police charged Jessica Gale Cox, 28, of Coraopolis, Pa.,c with theft and receiving stolen property. More
Why do many in the Philippines go to pawnshops more than banks?
Philippine Daily Inquirer Share
For many Filipinos, pawning jewelry at a neighborhood pawnshop has been the most common and quickest way to address an urgent need for relatively small amounts of cash. Compared with banks, pawnshops do not impose as many documentary requirements before releasing cash to customers. More