National Pawnbrokers Day

National Pawnbrokers Day is on December 6 in the United States. Pawnshops offer quick loans secured by personal property. While using a pawnshop may not signal success, it can provide vital assistance during tough times. Have you ever used a pawnshop’s services?

History

Pawnshop-like services date back around 3,000 years to ancient Egypt and China, where lenders issued loans against collateral such as livestock, grain, or even people. Under Hammurabi’s Code, debtors and their families could face enslavement if they defaulted. Today’s pawnbrokers operate under regulated frameworks, giving anyone in need the right to obtain short-term credit against pledged items.

Interesting facts

• At a pawnshop, your collateral remains under your control—you can redeem it by repaying your loan plus fees.
• If you choose not to repay, the pawnshop will sell your item on your behalf for a predetermined commission.
• Pawnbrokers assume risk that some items might be stolen property, so many shops work closely with law enforcement.
• Saint Nicholas is traditionally considered the patron saint of pawnbrokers for his generosity to the needy.

How to take part

• Visit a local pawnshop to learn how pawnbroking works.
• Compare pawnbroker loan rates versus other short-term credit options.
• Share the holiday with friends and discuss the role pawnshops play in communities.

When is National Pawnbrokers Day in 2025?

National Pawnbrokers Day is observed on December 6 each year.

Observations