Pawn


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Related to Pawn: Pawn shop

Pawn

1. To give at item to a pawnbroker in exchange for a loan. When one pawns an item, one receives the loan and gives the pawnbroker possession of the item. One may receive the item back within a certain period of time if one repays the loan with interest. If the loan is not repaid, the pawnbroker may sell the item in his/her shop. Because the pawnbroker already has possession of the item, he/she does not report non-payment of a loan and it does not affect the borrower's creditworthiness.

2. A fairly uncommon term for collateral.
References in periodicals archive ?
Today's economy has affected pawn sales, as it has most other industries.
PawnSearcher is a website where consumers can send inquiries to pawn shops all over the US.
Theodore DeVries of Abe's Newhall Pawn Shop and Diamond Exchange is seeing the same thing.
is engaged in acquiring, establishing and operating pawn stores, which lend money on the collateral of pledged personal property and retail previously owned merchandise acquired through loan forfeitures.
The London based pawnbroker was and still remains the market leader in pawn lending in the United Kingdom.
The three pawn shops were acquired for a combination of cash and
In addition, Cash America, which owns and operates 469 pawn stores in the United States, the United Kingdom and Sweden, has converted all of its domestic stores onto the l.
Van Gundy, US Pawn's CEO, stated, "Though the rapid growth and development of the Internet, E-Commerce and Online Auctions has greatly impacted many industries, none will be more positively affected than the Pawn industry.