With popular television shows on the History Channel and truTV, pawn shops and their growing popularity have seen steady growth. In fact, according to Emmett Murphy, spokesman for the National Pawnbrokers Association, “We’ve been going through a renaissance in the past few years.” Reflecting today’s tough economic times, the association’s 2,000 members now loan an average of $150 a customer, up from $85 in 2009.
A pawnshop, owned and operated by a pawnbroker, makes secured loans on personal property that customers leave as collateral. While items such as jewelry, gold, and other precious metals and coins are probably the most popular item bought, sold and/or loaned at a pawn shop, pawnbrokers also offer a wide variety of pawned items such as clocks, computers, art, electronics and other collectibles.
When a pawned item is not redeemed by the pawner, brokers are required to notify the customer that the loan period has expired and give the customer the final opportunity to redeem the property. Once expired, the broker has the right to sell the item. (It is important to keep track of your pawn ticket to ensure you return in time.)
Whether someone is in need of quick cash, selling gold, pawning jewelry, or finding great bargains on any type of item, a pawn store is the place to go.
If you enjoy the thrill of watching items bought and sold on those popular television programs, are interested in pawning something of your own, or are in search of that great gift at a bargain of a price, head into Traders Loan and Jewelry to experience that same feeling for real! You can’t miss the shop with its façade reminiscent of an old west trading store, which has been located on the northwest corner of Sherman Way and Reseda Blvd in the San Fernando Valley since 1954. Head on in today!
If you have any stories about pawn shops and their growing popularity, we’d love to hear from you in the comments.