Pawn

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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 classic literature ?
thought Alice), there was no way of guessing, but she was gone, and Alice began to remember that she was a Pawn, and that it would soon be time for her to move.
He says true," said the commissary, "for he has himself written his story as grand as you please, and has left the book in the prison in pawn for two hundred reals.
He'd pawn anything he could, but he's pawned everything already.