Test Your Knowledge on National Pawnbrokers Day!

The three balls, or three golden spheres, are the traditional symbol of pawnbroking. They represent the three essential components of a pawnbroker's business: lending, buying, and selling.

Pawnbrokers typically do not accept live animals as collateral due to ethical and logistical reasons. Most pawnbrokers focus on items of value that can be easily sold or auctioned if necessary.

The term used for the process of reclaiming a pawned item from a pawnbroker is redemption. It involves repaying the loan amount with the agreed-upon interest within a specified time period.

Leonardo da Vinci, known for masterpieces like the Mona Lisa, actually worked as a pawnbroker in his early career. It is believed that he used his pawnbroker status to observe and study people of various backgrounds.

The person who borrows money from a pawnbroker is referred to as a pledger. They pledge their item as collateral in exchange for a loan.

Pocket watches were the most commonly pawned items during the Great Depression in the United States. Many people were in desperate need of money and pawned their valuable timepieces to obtain funds.

In the pawnbroking industry, the acronym 'NPA' stands for the National Pawnbrokers Association. The NPA represents the interests of pawnbrokers and works towards enhancing the image and reputation of the pawn industry.

National Pawnbrokers Day is recognized by the National Pawnbrokers Association (NPA) in the United States. The NPA represents the pawn industry and promotes professional, ethical, and compliant pawnbroking practices.

The Babylonian civilization, around 2000 BC, is known to have established some of the earliest known regulations for pawnbroking. These regulations set interest rates and specified the rights and responsibilities of both pawnbrokers and pledgers.

Each year on December 6th, National Pawnbrokers Day pays tribute to a profession that provides a valuable service to their clientele.