About Pawning
- The first pawn shops emerged in ancient China more than 3,000 years ago.
- Today, there are more than 12,000 pawn shops operating in the United States alone.
- It is estimated that approximately 25 million Americans do not have a bank checking account. Pawn shops serve this population by offering a source of short- term loans.
- Pawn shops are often referred to as the “Lombard” in Europe, in reference to the House of Lombard, a prominent lending family in medieval London.
- More than 90 percent of all items pawned at Western today are reclaimed or redeemed.
- The average loan granted for a pawned item is $75. The average pawn loan at Western is $125.
- Most states have laws limiting the amount of interest charged on pawn loans.
- State laws mandate that customers pawning items provide detailed information including name, address, and date of birth, and show government issued ID.
- The symbol of the pawnbroker is three spheres suspended from a bar. Some connect this symbol to the Medici Family-legend has it that one of the Medicis working for Emperor Charles the Great killed a giant with three sacks of rocks. The three balls or globes later became part of their family crest, and ultimately, the sign of pawnbroking.
- Saint Nicolas is the patron saint of pawnbrokers; the symbolism of the three balls or spheres associated with pawnbrokers has also been connected with his gift of three bags of coins to the three daughters of a poor man so that they could marry.
Pawn Shopping
Take a look at our great deals!
Buy, Sell, Loan
We offer the best prices for your items to ensure that you receive the best deal available.
Facts About Pawning
Find out information about the history of pawn shops and how our services can benefit you.
Visit Our Store
Our shop has been located in the heart of East Los Angeles since our opening in 1964.