Pawn Shops Offer Used Goods, Loans to People in Need

 

You never know what you will find in a pawnshop, stores which sell used goods.

Where else can you find snow removal equipment sitting next to a costly² piece of clothing? Or a beautifully designed time-keeping instrument from 19th century France next to a laptop computer?

Top Dollar Pawn¹ is a pawnshop in Waldorf, Maryland. On a recent day, the store’s manager met with a man who wanted to sell gold caps from the teeth of his grandfather, who had died.

Some people might be shocked by the man’s proposal. But store manager Stuffie Carroll was not. He explained that Top Dollar Pawn would only buy the gold after it had been removed from the teeth.

“This happens all the time,” Carroll told VOA.

Top Dollar owner Michael Cohen has two pawnshops in Maryland, both close to Washington, DC. He buys and sells “anything of value,” which includes costly jewelry³, musical instruments and power tools.

His biggest seller is jewelry, he said, as he showed a collection of diamond rings and gold necklaces.

How pawnshops earn money

Sales of used objects bring in money. But pawn shops make most of their profit through loans to people in exchange for something of value. There is interest on the loan that is higher than a bank rate. If the money is repaid within 30 days, then the owner gets their item back. But in other cases, the store keeps it for resale.

The average loan is $150. For people without credit or financing, pawn shops can help them get the money they need. About 85 percent of borrowers pay back their pawn shop loans.

Top Dollar manager Mike Thomen said a lot of people who visit his store talk to him about their problems and he supports them when “they’re down on their luck.”

“In a lot of cases, people don’t have any other outlet⁴ to get the money they need to get through the week to … put gas in the car, or pay the electric bill,” he said.

In the past, many Americans thought of pawn shops as seedy places, often connected to dark or disreputable activities. But today, the mostly independently-owned stores are more brightly lit and welcoming.

Eric Rizer, owner of three stores in Virginia called Royal Pawn, says pawn shops are now more popular with the general public. “We have tons of different stuff like artwork, antiques … and sports memorabilia,” he added.

“Customer service is a huge part of our business … and hopefully that keeps people wanting to come back to us,” said Michael Cohen.

Millions of customers every year

Experts estimate about 30 million people visit the nearly 11,000 pawn shops in the United States every year. Some of those customers find hidden treasures. Eric Rizer said his store once held a piece of art from painter Pablo Picasso.

“We actually had a bird head that I sold to a man for $500,” he added. Later Rizer discovered that kind of bird was last alive more than 100 years ago, and the head was valued at $20,000. He also noted⁵ that used guitars are finding a new market in pawn shops.

Cohen said his business has suffered because of sales of used items on the internet. He recognizes that more pawn shops may have to start selling products through the internet. Yet he thinks the physical stores are here to stay.

“There’s people who go from pawn shop to pawn shop looking for a good deal,” said Cohen. “We definitely have our regulars that like to bargain with us every week.

This includes customer Keith Winslow who recently tried to bargain over the price of some power tools.

“I want to talk to the people I’m buying products from,” he said. “I don’t want something from online that may not be exactly what I want.”

I’m Pete Musto.

Words in This Story

manager – n. someone who is in charge of a business or department

outlet – n. a place or opening through which something is let out

seedy - adj. not respectable or decent

disreputable - adj. not respected or trusted by most people?

antique(s) – n. art, furniture, jewelry and other items that were made at an earlier time and are often valuable

memorabilia – n. objects or materials that are collected because they are related to a particular event or person

customer – n. someone who buys goods or services from a business

guitar(s) – n. a musical instrument that is held against the front of your body and that has usually six strings⁶ which are played with your fingers or with a pick

bargain – v. to discuss an agreement or price in order to make it more appealing

1 pawn   

n.典当，抵押，小人物，走卒；v.典当，抵押

参考例句：

• He is contemplating pawning his watch.他正在考虑抵押他的手表。
• It looks as though he is being used as a political pawn by the President.看起来他似乎被总统当作了政治卒子。

2 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

3 jewelry   

n.（jewllery）（总称）珠宝

参考例句：

• The burglars walked off with all my jewelry.夜盗偷走了我的全部珠宝。
• Jewelry and lace are mostly feminine belongings.珠宝和花边多数是女性用品。

4 outlet   

n.出口/路；销路；批发商店；通风口；发泄

参考例句：

• The outlet of a water pipe was blocked.水管的出水口堵住了。
• Running is a good outlet for his energy.跑步是他发泄过剩精力的好方法。

5 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

6 strings   

n.弦

参考例句：

• He sat on the bed,idly plucking the strings of his guitar.他坐在床上，随意地拨着吉他的弦。
• She swept her fingers over the strings of the harp.她用手指划过竖琴的琴弦。