Celebrating National Pawnbroker Day, December 6, 2024

The NPA proudly recognizes National Pawnbroker Day on December 6th. This annual observance highlights the role pawnbrokers play in their communities, providing essential financial services and supporting local economies.

“Pawnbrokers are more than just retailers,” said NPA Executive Director Kristen Williams, “They are trusted advisors, community partners, and a lifeline for many individuals and families. On National Pawnbroker Day, we celebrate the hard work, dedication, and integrity of pawnbrokers across the nation.”

According to a just-released national survey by the Federal Deposit Insurance Corporation (FDIC), 19 million U.S. households were underbanked in 2023 and 5.6 million lacked a bank or credit union account entirely. For these people, and millions more worldwide, pawnbrokers are a safety net.

Pawn transactions are often under $50, with the average being less than $180 nationwide. Heavily regulated, pawn stores fill a critical gap in the market by providing quick access, usually within minutes, to the kind of small-dollar funds that banks and credit unions do not. For someone struggling to fill up their gas tank or pay for an emergency vet visit, this flexibility is crucial.

Pawns are also non-recourse, meaning they do not affect consumers’ credit ratings; there is no collection process and no cycle of debt.

The NPA encourages everyone to take a moment to appreciate the positive impact pawnbrokers make in their communities. Whether it is providing quick cash for unexpected expenses or helping customers find affordable, high-quality items, pawnbrokers are committed to serving their customers and contributing to the local economy.