Top

How San Diego Pawn Shops Work

November 14, 2008 by Administrator 

case1.jpg

Featured at the website HowStuffWorks.com is a good article about How Pawn Shops Work. The article rightly points out that pawn shops don’t really deserve the “shady” image that many people hold of them–often due to the way Hollywood depicts them as fence operations for stolen goods. For centuries, pawn shops have been the quick and convenient way for people to borrow money.

In this article the author takes the reader behind the workings of a real pawn shop to see: 1) the manner in which people borrow money by putting something down as collateral; 2) how pawn shops sell used merchandise; and 3) how customers buy new and used merchandise, ranging from gold, jewelry, and diamonds to musical instruments and electronics equipment.

A pawning of a wedding ring is used in the article to demonstrate how a transaction at a pawn shop works, including how monthly interests are applied and contracts are enforced. It also discusses the ability that pawn shops have to test the validity of gold and diamonds, as well as the privacy laws that many pawn shops have to follow. One very important thing which the article notes is the fact that pawn shops must submit a list of all merchandise received every day, including serial numbers, to the police. This is done so that the police compare the serial numbers against records of stolen merchandise, which protects both the pawnbroker, as well people who have had objects stolen. Don’t believe it when the movies tell you otherwise.

###

Pawn shops and jewelry buyers in San Diego and across the state have been doing more business lately, which just goes to show how much more comfortable people are with pawnbrokers. Read more at: California Pawn Shops Increase Business.

San Diego Pawn Shops, Gold Buyers, Gold Refineries, & More

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!





Bottom