What is National Pawnbrokers Day?

National Pawnbrokers Day, each year on December 6th, honors a career that provides a valuable service to their clients. Many that are in need of cash and also those looking for a good price are utilizing pawnbrokers' services.

In the west of Ancient Greek and Roman Empires, thousands of years ago, and in China, over 3000 years ago. In exchange for property or products as collateral, the pawnbroker offers a loan of cash in exchange for a pledge of cash. When the loan plus interest is repaid, the pawnbroker returns the house. However, if the customers don't pay the loan, they forfeit the house, and the pawnbroker may sell it to recover the loan.

In fact, government and churches even became involved in public pawnshops, although no one ever established this type of brokerage in the United States.

The National Pawnbrokers Association began a wonderful service on National Pawnbrokers Day, called Musical Instrument Gift Day, five years ago. Pawnbrokers around the country make generous contributions of musical equipment to charities in need. They worked with the Mr. Holland's Opus Foundation and collected instruments for a high school in Mississippi from December 6, 2012.