What Is A Pawn Shop?
A pawnshop is a business that is licensed and regulated to give you cash using your merchandise as collateral to secure the loan.
The pawn shop is one of the oldest businesses around. They were around in Ancient Greece and the Chinese have had pawn brokers for over 3000 years. It is rumored that Queen Isabella of Spain pawned her jewels so that Christopher Columbus could sail in search of a new route to the west Indies. Instead, he stumbled upon America.
The universal symbol of pawnbroking is the three gold balls that was part of the Medici family crest. According to legend, a Medici employed by Charlemagne an (Emperor), slew a giant using three bags of rocks. The medici were money lenders thus the three balls became the symbol of pawnbroking.
Saint Nicholas is the patron saint of pawnbrokers. The symbol has also been attribute to the story of Nicholas giving a poor man’s three daughters each a bag of gold so they could get married.
Throughout history, people from all walks of life have used pawn shops from Kings and the rich to your average everyday individual. You can buy and sell things at a pawn shop and use your valuables as collateral for a loan.