Little history about pawnbroking

Hard Core Pawn & Pawn Stars have brought pawnbroking into the spot light. So a little history about pawnbroking. Pawn shops originated around 3,000 years ago in Ancient China, acting as a way for struggling peasants to get their hands on cash, fast! The pawnbroker would hold items of value for an agreed amount of time until the loan could be paid back and with the agreed sum of interest.

 

pawnhistPawnbroking became an important way of financing business ventures in the 14th and 15th centuries for the well-off families as well. King Edward III famously pawned some of his jewels to help raise funds for the war against France