Observed annually on December 6th, National Pawnbrokers Day is a holiday that honors the people who lend money on items pawned at their stores. The way pawnbrokers work is pretty simple: people bring valuable items to the pawnbroker, who then loans them an amount of money for these items.

The customer then has the option of either paying back the original amount lent or allowing the pawnbroker to sell the item for a profit. Although not everyone views pawnbrokers in a favorable light, they provide a valuable service to the communities in which they operate. They enable people with limited means to pawn personal possessions to get the cash they need when they need it.

Interesting Facts About Pawnbrokers

Below are some interesting facts about pawnbrokers that we believe everyone will find interesting. Even though most people are familiar with pawnbrokers, they don’t know much about them. Hopefully, the following facts will change that.

• During the late 19th century, there were more pawnbrokers in Britain than public houses.
• Over 80% of loans from pawnbrokers are redeemed.
• Two-thirds of customers are loyal to one pawnbroker.
• Pawnbroking is one of the oldest forms of lending in the world, dating back over 3,000 years.

Observing National Pawnbrokers Day

People wishing to celebrate this holiday can do so by taking a few moments to learn more about pawnbrokers and the services they provide. Individuals can also take the time to give their local pawnbroker a gift of some kind.

And if all that isn’t enough, people can also take a few moments to shop at their local pawnbroker. After all, they often have some great deals.