National Pawnbrokers Day:
Celebrated every year on the 6th of December, the National Pawnbrokers Day recognizes the services offered by the pawnbrokers to the community. This day also aims at mitigating the prejudice against this profession.
Related: Other National Days Celebrated on December 6th:
Why National Pawnbrokers Day?
Pawnbrokers existed thousands of years ago in the ancient Greek, Roman empire and China. The word pawn is derived from the Latin root word “pignus’’ which means pledge. The pawnbroker’s loan cash in exchange for a certain amount of interest in addition to collateral, in the form of goods or property that is kept as security. The items that are pawned are known as collateral, pledges or pawns.
When the loan and interest are paid off, the property or goods are returned to the customer. If the clients fail to repay the loan, the property might be sold in order to recover the capital. In the past churches and governments have also taken advantage of pawnshops. These brokerages are not permitted in certain religious sects.
Depending on pawnbrokers for long is certainly not a good practice, it only means that you are under more debt than you can handle. And with this habit, you will soon drown in debt, more than you can ever repay. But when you have an emergency, trying to convince a bank to loan you money, following all their protocols and requirements is both time consuming and tedious. Well, you can count on pawnbrokers in your hour of need. Pawnbrokers also save you from the embarrassment of lending money from your nagging relatives, who will continue to tell this story for generations.
This day aims to acknowledge the role of pawnbrokers and their service to various communities by lending money when people have no source to depend on.
According to the records, musical instruments are considered as one of the most commonly pawned items for centuries. Almost anything can be pawned valuable items, electronics, tools. There are instances where even handbags were pawned! The musical instruments that were not claimed were donated to charity or schools by the pawnbrokers. Children who couldn’t afford musical instruments or war veterans who wanted to pursue or perfect their hobby benefit from these donations.
The National Pawnbroker Associations was founded in 1987 as a trade association in the US. It is a trade association that supports independent pawnbrokers and provides education and promotes networking among its members. NPA also works towards strengthening the industry while encouraging a positive image of the profession. They believe in working together with the government officials at the state and local levels by building lasting relationships.
The NPA initiated a program on National Pawnbrokers Day known as the Musical Instrument Gift Day. Musical instruments were generously donated to organizations and people who are in need.
While pawnbrokers have contributed largely to the society the profession has always had a sense of negative stigma associated with it. This day urges us to redefine our ideas and prejudices against this line of profession.
How Can We Observe National Pawnbrokers Day:
- You can dive into the history of pawnbrokers and observe their roles in various communities throughout the centuries through books like;-
The Pawnbroker by Edward Lewis Walland or A History of Pawnbroking Past and Present by William A. H. Hows.
- Donate to Mr. Holland Opus Foundation and contribute to the Musical Gift Day.
- You can also shop at a pawnbroker business.
- Donate the things that you do not use or require or you can even sell them in the pawnshop.
- Share the photos and videos of your celebration on social media using #NationalPawnbrokersDay and #PawnbrokersDay.
Interesting Facts On National Pawnbrokers Day:
Here are some interesting facts surrounding Pawnbrokers for you!
- According to NPA, the average collateral loan amount in the US is 100$
- 80% of the pawn customers repaid their loans with the return of their collaterals. This indicates that the loans successfully met their financial needs.
- There are around 13,000 pawn stores in the United States. The majority of these stores are privately-owned small shops. Family-run shops are also common.
- Customers of the pawnshop are usually young adults with an average age of 36.
- Pawn store customers in the US are estimated to be more than 30 million
- The pawnshops neither require a credit check nor do they impact your credit.
- On December 6, 2012, the NPA along with Mr. Holland Opus Foundation collected instruments for distribution for a high school in Mississippi known as part of the Musical Gift Day celebration.
History Of National Pawnbrokers Day:
Though the origin and the founder of this Day are unknown, National Pawnbrokers Day is celebrated on International St Nicholas Day. St Nicholas is recognized as the Patron Saint of pawnbroking.