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How Much Do You Know About Pawn Shops?

Once upon a time, I was oblivious to the existence of the pawn shops and only knew what others have told me about them - Pawn shops are filthy places filled with rude employees… I realized how different my view about pawn shops have changed since I started working here at MoneyMan Pawn. I can tell you that it's different than what I imagined and it's nothing like what they told me. There are so many things I have learned since working here!

Okay guys, it is now time for you to go back to school and take your quiz!

How well will you do?
(Answers are on the bottom. DON'T CHEAT!)

  1. When did pawnbroking start?
    1. During the 5th century in China.
    2. In Medieval Europe.
    3. "Pawn Stars" started it all.
    4. During the 1890's in the Wild West.
  2. Who is the patron saint of pawnbrokers?
    1. Saint Francis of Assisi
    2. Saint Nicholas
    3. Saint Anthony of Padua
    4. Saint Patrick
  3. What percentage of items are reported stolen in the pawn industry?
    1. ALL OF IT!
    2. Half of the transactions are stolen items.
    3. Less than 0.1% of pawn transactions deal with stolen property.
    4. About 5% of transactions are stolen property.
  4. What is the international symbol for pawnbrokers?
  5. Who comes to a pawn shop for a short term loan?
    1. People who wish to sell their items.
    2. Only criminals visit pawn shops!
    3. Anyone who wants their item back after selling it.
    4. Anybody with or without financial issues.
  6. Do pawn shops need to be licensed and regulated?
    1. No on both! Pawn shops handle it all by themselves.
    2. Pawn shops are both licensed and regulated by state and local governments.
    3. Only the state governments license and regulate pawn shops.
    4. Only the local enforcement monitor pawn shops.
  7. What do pawn shops have for sale?
    1. Pawn shops only sell low quality items at a high price.
    2. Pawn shops only sell good quality items at a high price.
    3. All of it is pawned items.
    4. Pawn shops sell good quality items at a low price.
  8. In Florida, how long are pawn shops obligated to hold on an item taken in on pawn?
    1. One week.
    2. FOREVER!
    3. Thirty days.
    4. One hundred twenty days.
  9. How long does MoneyMan Pawn promise to hold items in on pawn?
    1. Sixty days.
    2. Two weeks.
    3. We don't hold anything!
    4. Sixty days plus additional thirty days when service charges are paid.
  10. What type of transactions occur in a pawn shop?
    1. Only Pawns.
    2. Pawning, Selling, Buying, and Trade-Ins.
    3. Only selling and buying transactions.
    4. None whatsoever!

So……. are you feeling confident? You think you answered them all correctly? Well, why not and check?!

Here are the answers:
1.A — 2.B — 3.C — 4.A — 5.D — 6.B — 7.D — 8.C — 9.D — 10.B

I know you got all the questions correct, but just in case, the next post will explain the more complicated questions and hopefully enlighten you more about pawn shops!

And if you have any questions, remember to ask us! We'd love to help you out!

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