Category Archives: Pawn Shop

Boston Pawn Shop Gives Tips on Getting the Most Cash for Your Gold

Suffolk Jewelers & Pawnbrokers has anchored Boston’s historic South End district since its opening in the early 20th century. It is the oldest pawnshop in Boston and the largest store of its kind in New England. The store’s experienced personnel have processed countless gold transactions, and understand the value and nature of gold items. If […]

Jewelry Stores vs. Pawnshops: A Comparison

Retail jewelry stores and pawn shops have some major and important differences. Unlike traditional jewelry stores, pawn shops can price their gold items according to the current price of gold in the market. They have the unique ability to monitor the market and price items, such as necklaces and bracelets, accordingly. In the retail jewelry […]

What does the pawn shop symbol mean?

The Suffolk Jewelers & Pawnbrokers logo features the traditional symbol of the pawnbroker, which is three spheres suspended from a bar. As legend has it, this symbol traces back to the Medici family – a prominent family in Florence, Italy in the 15th century that was known for loaning and banking. The Medici family crest […]

Pawn Shops Great Place for Microcredit

Bank lending rates are at their lowest since the Great Depression, according to Standard & Poor’s, a leading financial services firm. This leaves consumers turning more and more to pawn shops to meet their credit needs. It is extremely difficult in the current economic environment to get small business loans and personal loans from large […]

Ever Wonder How Pawn Shops are Regulated? We’ll Tell You.

Pawn shops are strictly regulated by a number of federal, state, and local laws and standards. On a federal level, pawn shops are regulated by the Federal Trade Commission, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, and the Treasury Department. They must comply with the following federal laws:  The Truth & Lending Act The […]

5 Facts You Didn’t Know About the Pawn Shop Industry

1. The average collateral loan amount nationwide is $100, according to the National Pawnbrokers Association. This shows that collateral loaning is often used to help consumers obtain a small source of funding. Pawn shop customers tend to borrow only what they need, and often use the funds as a safety net in the case of […]

U.S. Pawn Shops Economically Resilient and Becoming More Mainstream, Study Says

U.S. pawn shops remained resilient throughout the recession and are becoming more mainstream, according to a new report from an independent market research firm. The pawn industry was worth $14.5 billion in the United States last year, and the total number of U.S. pawn shops is more than 11,000 and growing, according to “U.S. Pawn […]