Pawn Broker

Pawnbroker

A pawnbroker is an individual who offers secured loans to people by taking items of personal property as collateral. A pawnbrokering entity is called a pawnshop or pawnbrokerage. While many items can be pawned, pawnshops typically accept jewelry, musical instruments, coins, gold, silver and firearms. Home-audio equipment, computers, video-game systems, televisions, cameras, and power tools became pawnable as the world entered the Information Age. The items pawned to the broker or shop are themselves called pledges, pawns, or simply the collateral.

Broker

A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confused with that of an agent—one who acts on behalf of a principal party in a deal.

pawn

Noun

1. The state of being held as security for a loan, or as a pledge.
2. An instance of pawning something.

Verb

1. To pledge; to stake or wager.
2. To give as security on a loan of money; especially, to deposit (something) at a pawn shop.

broker

Adjective

1. comparative form of broke: more broke

Noun

1. A mediator between a buyer and seller.
2. A stockbroker.