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History of Pawn

Mankind's oldest financial institution, pawnbroking carries on a tradition with a rich history. Pawnbroking can be traced back at least 3,000 years to ancient China, and has been found in the earliest written histories of Greek and Roman civilizations.

woodcut of old pawnshop

During the Middle Ages, certain usury laws imposed by the Church prohibited the charging of interest on loans, thus limiting pawnbroking to people who had religious beliefs outside of the Church. Out of economic necessity and because of problems in the banking system, pawnshops made a resurgence in later years. The House of The Lombards operated pawnshops throughout Europe. They even counted royalty, such as King Edward III of England, among their clientele during the 14th century. The symbol of the Lombards' operations were the three gold balls that still remain the trademark of pawnshops.

3-balls symbol of pawnbrokers

Nowadays, pawnbroking is well-regulated and monitored. Our interest rates and loan periods are set by the state. This makes pawning your property or purchasing items from our sales area a safe and cost-effective activity.

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