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Pawnbroking Origin, Where Did it all Begin?

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Pawnbroking Origin

Have you ever wondered when and where pawnbroking started? Well, the origin of pawnbroking first started in China around three thousand years ago. Later on, Hong Kong followed the same tradition where the counter of the shop was higher than the person for security. The privacy of the customer was provided through a wooden screen between the door and the counter and the customer could only hold up his hand to present his belongings. The first symbol of pawnbroking in Hong Kong was a bat holding a coin; the bat was a sign of kismet and the coin showed benefits. Scroll down to know more about the origin of pawnbroking.

What does the Pawn Symbol Show?

The “three gold balls” is the current symbol of pawnbroking. It dates back to the two money lender families in Europe. These families were the Medici family, of Italy, and the Lombard family, of England. The historians tell that one of the members of Medici family; they fought and won a fight with a monster and took with him three sacks of rocks as a souvenir. His family used three balls or globes as a family symbol, from here on that became the signature of pawnbroking.

How did Pawnbroking Grow?

Pawnbroking is simply the lending of money against anything left by the borrower. The tradition started by the Medicis and Lombards family continued to grow, and after the World War II, there were 5000 pawn shops in Ireland and the British Isles, who lend money for almost everything, from clothes to jewelry. However, the number of pawnbroking companies reduced significantly by the 1970s, but the figure elevated again only after a decade. Today, the banking system and pawnbroking companies are providing loans to the borrower.

The pawnshop industry in Los Angeles is the best example of pawnbroking in the 21st-century offering loans on high end collateral loans. The best Los Angeles Pawnbroker is located at Beverly Hills Pawnbroking & Lending and its the place to sell or purchase loans high end items such as fine jewelry, watches, art and cars, and expensive antique products. Beverly hills Pawnbroking and Lending is located at 9615 Brighton Way, Suite 210, Beverly Hills, CA 90210. or call them at 424-335-0650. They are the best Beverly Hills Pawnbroker. 

Even the Queens and Kings use pawnbrokers as commonly as an ordinary person. Do such wealthy people have to lend money? No, it’s just because the shop that displays recognizable signs are reliable. So, they prefer to depend on those shops.
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