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Hurricane Sandy Causes Gold Price to Drop

By   /  October 31, 2012  /  Gold Price  /  No Comments

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The massive east coast storm caused price of gold and other precious metals to fall on Monday.  Due to mandatory evacuations in many areas the commodity exchanges and stock markets were closed and bond trading ended early.  Trading was light as people were focused on the storm’s impact on the region.  Investors mostly shied away [...]

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New York City Taking a Close Look at Albany’s Pawn Shop Legislation

By   /  October 30, 2012  /  Pawn News  /  No Comments

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New York City lawmakers are interested in recent legislation passed by Albany County.  Under the new law, pawn shops, referred to as “second hand dealers,” would be required to keep detailed records of people they buy from and relay the information to local law enforcement agencies.  Law enforcement would then be required to create a [...]

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United Kingdom’s NPA Annual Conference a Success

By   /  October 30, 2012  /  International Pawnbrokers  /  No Comments

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United Kingdom’s National Pawnbrokers Association’s 81st annual conference took place this month with a theme of excellence in pawnbroking.  It was described by the Birmingham Assay Office as “a lively affair with pawnbrokers generally upbeat and positive as their businesses continue to prosper.”  There was a variety of guest speakers.  Birmingham’s Fellows Auctioneers spoke on [...]

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Cash America’s Earnings Affected by Reorganization in Mexico

By   /  October 30, 2012  /  Pawn News  /  No Comments

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Cash America, a pawn shop and payday lender that also operates under the names ”SuperPawn,” ”Cash America Payday Advance,” ”Cashland” and “Mr. Payroll,” reported a major drop in earnings but still beat Wall Street’s expectations for the third quarter.  The company recently trimmed operations in Mexico and lays most of the blame for the recent [...]

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Pawn Shops a Viable Lending Option for Families under Economic Stress

By   /  October 27, 2012  /  Collateral Loan, Pawn Shops  /  No Comments

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Pawn shops have evolved from a shady last resort to a viable lending option for families with poor credit.  According to Paige Marta Skiba, associate professor of law at Vanderbilt University, pawn shops are becoming more legitimate.  She calls pawn shops a “more efficient Craig’s List.”  The appeal to a pawn loan says Skiba is [...]

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Upscale Collateral Lender Bringing their Knowledge to Television

By   /  October 25, 2012  /  High End Pawn, Pawn TV  /  No Comments

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Biltmore Loan & Jewelry, an upscale collateral lending business in Scottsdale, AZ, will be taking to the local airwaves in a segment called “What’s it Worth AZ?”  The show debuts on November 6th and will air once a week with experts from Biltmore estimating the value of viewers’ prized possessions to give them an idea of [...]

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Pawn Loans Help During Time of Need

By   /  October 24, 2012  /  Pawn Shops  /  No Comments

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It’s not always easy to get a loan, and if you only need a small amount it doesn’t make sense to go through the bank.  Pawning an item is an easy alternative.  Interest rates are high compared to traditional loans, but according to Vanessa Richardson at Bankrate.com, “if the bank won’t lend and you think [...]

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Pawn Shop Industry Helped by Reality TV Shows and Economy

By   /  October 24, 2012  /  Pawn TV  /  No Comments

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With TV shows like Pawn Stars making pawn shops look fun, reputable and safe and the economy increasing the need for a pawn shop’s services, the industry’s image has undergone a huge change in the last few years.   The preconceived notion that pawn shops were seedy and full of stolen merchandise has been helped greatly [...]

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Poor Economy and Reality TV bring Pawn Shops into the Mainstream

By   /  October 20, 2012  /  Pawn News  /  No Comments

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Marilyn Vigil recently earned a master’s degree, but remains unemployed.  She visited EZPawn in Denver for the first time hoping for a loan on her gold chains that were just sitting in her jewelry box in order to get new tires for her car.  “You can’t trash your credit at a pawnshop,” she said of [...]

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Profits are up for First Cash Financial

By   /  October 20, 2012  /  Pawn News  /  No Comments

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Profits are up for Arlington, TX company First Cash Financial Services Inc. Third quarter net income for First Cash rose 3 percent due to continued strength in Mexico and more income from pawn shops and fees.  In the three months ending on September 30th, First Cash earned $18.9 million, or 64 cents per share.  In [...]

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