Wednesday, 2nd May 2007 (3717 views)

One of the most visible gold emblems on the high street, the pawnbroker's three gold balls, is becoming a more common sight as pawning gains respectability, the National Pawnbrokers Association has claimed.

The items customers bring to pawnbrokers are beginning to reflect the changing clientele, with a higher proportion of gold jewellery presented for pawning purposes.

Moreover, pawnbrokers report that the appeal of pawning has soared among sectors of the population who might not seem typical customers.

"Over the last three to four years, we have noticed the amount of professionals coming into our stores increase," marketing manager David Towse of pawnbrokers Harvey and Thompson told Reuters.

With 77 shops across Britain, Harvey and Thompson is one of two pawnbrokers listed on the London Stock Exchange, the other being Albemarle and Bond, Britain's largest pawnbroker.

"People are beginning to accept pawnbroking", remarked Mr Towse, adding: "The Dickensian image of the backstreet pawnshop is fading".

Customers looking to pawn their gold are finding that they receive increasingly large loans in return as gold goods soar in value on the street.

Britain now has 800 pawnbroking outlets, a signal increase on 50 to 100 in the early 1980s.

 

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