When #Homeschooling our children teaching them to think outside the box is one of the most important lessons we do. I wish I had knew that December 6th was National Pawnbrokers Day #NationalPawnbrokersDay when Charlie was #Homeschooling full time because it would have been another #career we could have checked into.
For a Field Trip we could have visited a #PawnShop to learn what they do and hot to start there own Pawn Shop Company. Charlie could have picked out items to sell and made money to use for other things he needs. Would you like to join us for a visit to our local Pawn Shop?
Did you know the word ‘pawn’ comes from ‘patinum,’ the Latin word for ‘cloth’ or ‘clothing.’ Pawnbroking history goes back thousands of years to the ancient Roman and Greek empires and China in the East. Pawnbrokers provide cash loans in exchange for goods and property as collateral.
The pawnbroker returns the collateral after the person repays the loan with interest. If clients don’t pay up, they forfeit their property, and the pawnbroker can sell it to recoup the loan. I don’t know about you but this has happened to me in the past and it stinks.
Pawnbrokers can also play the role of a charitable organization. In Perugia, Italy, a Franciscan Friar, Barnaba Manassei, started the Monte di Pietà initiative in 1450. The movement offered financial aid to people, giving them no-interest loans for pawned items. The idea was to get people to make donations to the Church as opposed to paying interest.
The idea gained popularity in Italy and then spread to other regions in Europe. It might surprise you to know that musical instruments are among the most pawned items over the Centuries. On Pawnbrokers Day, pawnbrokers often donate the forfeited instruments to schools or charitable organizations who need them, which allows children who wouldn’t ordinarily have access to these instruments the opportunity to use them. Talk about modern-day heroes! If you have the means and the opportunity today stop by and thank them.
They weren’t always considered heroes. From 1603 until 1872, an act was passed against brokers that aimed to undermine counterfeit brokers throughout London. Brokers in this category were referred to as fences.
In England, the Pawnbrokers Act of 1872 established regulations that protected pawnbrokers who unwittingly sold stolen items. It also established the interest rate on pawned items and general guidelines that define the industry to this day.
National Pawnbrokers Day Activities
- Pawnbroking has a storied past so why not take the opportunity to study the history of the profession to understand it better?
- Pawnbrokers are available everywhere and ready to make a deal you just have to visit a Pawn Shop.
- Take a page out of the pawnbroking book and donate because you probably have lots of things lying around that you can give to the needy.
Facts About Pawnbroking
- Did you know Queen Isabella of Spain pawned her jewels to finance Christopher Columbus’ voyage to discover the Americas?
- The modern pawnbroking industry originated in Italy during the 1400s.
- Pawnbroking boomed in the U.K. during the late 18th Century; when there were almost as many pawnbrokers as public houses.
- Over 71% of customers remain loyal to the same pawnbroker, which is one often close to their home.
- Most pawnshops enjoy repeat business from the same customers who pawn and reclaim the same item multiple times.
Why People Love National Pawnbrokers Day
With over 11,000 pawnbrokers in the United States, pawnbroking makes a sizable contribution to the economy which pulls in over $14.5 billion in revenue annually.
People love a good cause and an opportunity to make a difference and Pawnbrokers Day reminds us of the importance of giving to the needy.
Pawnbrokers provide an important service; one that the world probably can’t do without and National Pawnbrokers Day allows us to recognize their contribution to our Society.
Thank you,
Glenda, Charlie and David Cates
