A Short History of Pawnbrokers Pawnbroking is said to be one of the oldest professions in the world.

pawnbrokers can be traced back to over 3000 years ago, and has advanced with the times, still strong in today's world. In this article we look back over the history of pawnbroking and pawn brokers to see how they have remained so popular through the eras. The ancient history of pawn brokers can be traced back to China. Even then in the early days the business was heavily managed with long redemption times and maximum interest rates. Examples and evidence of pawn broking industry has been located in ancient Greece, Italy, Bavaria, France and England, dating from Roman times to the 1300s. The long history of the trade has lead to pawnbrokers having their own patron saint, Saint Nicolas. This busy saint is also the patron saint of children, sailors, fishermen, broadcasters and archers, among others. According to the National Association of Pawnbrokers in the UK pawn broking is partly responsible for the discovery of the Americas. It is said that the voyage of the Nina, Pinta, and Santa Maria were funded in large part by pawning jewels belonging to Queen Isabella of Spain. Around the same time the Medici family helped to transform pawnbroking into the industry we know today. The now international symbol of the pawn broker can be accredited to them, being symbolic of Lombardy, the Italian province where pawn broking was first thought to have been established. The success of the Medici family in banking and money lending led to other families and businesses adopting the symbol. According to the National Association of Pawnbrokers in the UK pawn broking is partly responsible for the discovery of the Americas. It is said that the voyage of the Nina, Pinta, and Santa Maria were funded in large part by pawning jewels belonging to Queen Isabella of Spain. Around the same time the Medici family helped to transform pawnbroking into the industry we know today. The now international symbol of the pawn broker can be accredited to them, being symbolic of Lombardy, the Italian province where pawn broking was first thought to have been established. The success of the Medici family in banking and money lending led to other families and businesses adopting the symbol. Come the late 19th and early 20th centuries there were reportedly almost as many pawn shops operating in Britain as there were pubs. According to the National Association of Pawnbrokers in the UK pawn broking is partly responsible for the discovery of the Americas. It is said that the voyage of the Nina, Pinta, and Santa Maria were funded in large part by pawning jewels belonging to Queen Isabella of Spain. Around the same time the Medici family helped to transform pawnbroking into the industry we

know today. The now international symbol of the pawn broker can be accredited to them, being symbolic of Lombardy, the Italian province where pawn broking was first thought to have been established. The success of the Medici family in banking and money lending led to other families and businesses adopting the symbol. Come the late 19th and early 20th centuries there were reportedly almost as many pawn shops operating in Britain as there were pubs. In the nursery rhyme 'Pop Goes the Weasel', believed to have written in the 1700s, the title is a slang term. The translation of the 'Weasel' varies from a coat to a shoemakers tool, however the 'Pop' is quite consistently referred to as a slang term for pawning. Hence 'pop goes the weasel' refers to the item being pawned. Another piece of pawn broking mythology is the spurring of the term 'Sunday Best'. It is said that even the poor would own a suit, which they would often pawn Monday to Saturday, claiming it solely for their Sunday church visit, hence the suit is their Sunday Best. According to the National Association of Pawnbrokers in the UK pawn broking is partly responsible for the discovery of the Americas. It is said that the voyage of the Nina, Pinta, and Santa Maria were funded in large part by pawning jewels belonging to Queen Isabella of Spain. Around the same time the Medici family helped to transform pawnbroking into the industry we know today. The now international symbol of the pawn broker can be accredited to them, being symbolic of Lombardy, the Italian province where pawn broking was first thought to have been established. The success of the Medici family in banking and money lending led to other families and businesses adopting the symbol. Come the late 19th and early 20th centuries there were reportedly almost as many pawn shops operating in Britain as there were pubs. In the nursery rhyme 'Pop Goes the Weasel', believed to have written in the 1700s, the title is a slang term. The translation of the 'Weasel' varies from a coat to a shoemakers tool, however the 'Pop' is quite consistently referred to as a slang term for pawning. Hence 'pop goes the weasel' refers to the item being pawned. Another piece of pawn broking mythology is the spurring of the term 'Sunday Best'. It is said that even the poor would own a suit, which they would often pawn Monday to Saturday, claiming it solely for their Sunday church visit, hence the suit is their Sunday Best. By the finish of World War 2 there were over 5000 pawn brokers in the British Isles, lending against anything people had left to pawn. As England recovered and the welfare state was introduced the demand for pawn broking reduced. Clement Attlee's Labour government was following a policy of social care that hoped to put an end to the pre-war days of poverty and want. Schools, health care and housing were all vastly improved from their pre-war states, and the decaying Britain was being mightily swept away in a wave of Socialist feeling. pawnbrokers fell out of fashion slightly.

By the 1970s the pawnbroking trade was teetering on the edge, with a negative reputation to boot. The lack of regulation of the business through the last few hundred years led to 'cowboy' pawnbroking giving bad deals to those in need of their services and reducing the number of potential customers willing to do business with them. Since the credit boom time of the 1980s pawn brokers have enjoyed far better success, with better regulation came a much improved reputation, and with the boom, unfortunately came the bust that has left many in need of the services pawn brokers offer. Pawnbrokers today offer a speedy and secure means to lend money when you need it most, giving access to money in minutes when banks may have declined.

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