How much do pawn brokers charge?
The interest rates for pawnbrokers vary, but you can usually expect to pay between 3% and 10% per month, dependant on the size of the loan and the individual company. They are higher than a bank will charge for a loan, but less than payday loan providers.
What do pawn brokers buy?
If you're looking to secure a pawn loan against one or more items, you must be the legal owner of these items. The valuables you can use to put up for a pawn loan include almost anything of value, such as: Gold, silver or platinum items, including jewellery. Diamonds.
What do pawn broker do?
A pawnbroker is an individual or business (pawnshop or pawn shop) that offers secured loans to people, with items of personal property used as collateral. The items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral.
Why do pawn brokers have 3 balls?
Pawnbrokers were easily identified by their signs of three golden balls, a symbol of St Nicholas who, according to legend, had saved three young girls from destitution by loaning them each a bag of gold so they could get married.