Pawn shops are places where you can purchase used items at bargain prices or sell your belongings or scrap metal and gold to make quick cash. However, the practice of pawning is not a recent invention. It can be traced all the way back to ancient civilizations of China, Greece, and Rome. Below is a brief history lesson about the evolution of the pawning profession.

The Birth of Pawning in Ancient China

The concept of pawning was introduced over 3,000 years ago in ancient China. Buddhist monks would offer loans to peasants in need in exchange for collateral in the form of valuable items. At this time, they were prohibited from charging interest on the loan. The practice quickly spread across continents to Greece and Rome. When it was first introduced in these societies, interest was charged on loans. However, the Catholic Church later banned interest and lenders were forced to operate on goodwill. This decision was then overturned again once it became clear that pawnbrokers were suffering financially by giving loans without interest.

The Pawnbroker Symbol

The sign of a pawnbroker is three gold spheres hanging from a bar. There are a couple of myths that explain this historical symbol. The first legend claims that St. Nicholas, the patron saint of pawnbroking, left three bags of gold to a poor man so that his daughters could marry rather than be forced into a life of prostitution. The second legend suggests that the three balls are a symbol taken from the Medici family crest who built the financial and trading system in Florence.

If you’re interested in selling your unwanted jewelry or electronics for cash, head to Platinum Pawn Tampa in Tampa, FL. This reputable pawn shop offers a wide selection of name-brand used merchandise, including jewelry, electronics, and firearms, at discount prices. They can also provide you with loans without credit checks or instant cash for unwanted items. Give them a call at (813) 443-4622 to speak with a store associate. You can visit them online to learn more about the pawning process and their services.