Pawn shops represented by a pawn chess piece

How do pawn shops work?

Pawnshops have been around for centuries, and despite popular misconceptions, pawning is a legitimate business recognised by trade laws. Merchants known as pawnbrokers run the pawnshops. They operate by either lending out pawn loans or purchasing items at a fraction of their value. Most pawnbrokers prefer loaning to purchases; some exclusively trade in loans. Loaning […]