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Pawnbrokers See Increase in Overall Loans Despite Dip in Gold-Based Transactions

By   /   August 7, 2013  /   No Comments

The National Pawnbrokers Association released the results of the NPA 2013 Trend Survey which assesses how economic changes have affected the industry for the year.  The survey shows that 85 percent of pawnbrokers have seen a decrease in gold-based loans and gold-buying transactions.  It’s speculated that consumers released disposable gold during peak gold price periods and future gold-based transactions may normalize.  Despite the dip in gold-based transactions, the majority of pawnbrokers reported a 10 percent increase in the number of loans made since last year.  “More Americans are turning to pawn stores at an increasing rate. Increased public awareness, a positive image, and new, consumer-friendly stores have introduced pawn to a new generation of customers,” said Ben Levinson, president of the National Pawnbrokers Association.

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