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Pawnbroker: meaning, definitions and examples

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pawnbroker

 

[ ˈpɔːnˌbroʊ.kər ]

Noun
Context #1 | Noun

financial service

A pawnbroker is a person or business that offers secured loans to people, with personal property used as collateral. When an item is pawned, the pawnbroker takes possession of it and provides a loan based on its estimated value. If the borrower fails to repay the loan within the agreed time, the pawnbroker has the right to sell the item to recover the loan amount. This practice is often utilized by individuals seeking quick cash without a credit check. Pawnbrokers operate in accordance with local and national laws governing their trade.

Synonyms

loan shark, moneylender, pawn shop owner.

Examples of usage

  • She visited the pawnbroker to obtain a loan against her jewelry.
  • The pawnbroker appraised his guitar before offering him a loan.
  • Many people rely on pawnbrokers during financial emergencies.

Translations

Translations of the word "pawnbroker" in other languages:

🇵🇹 agente de penhor

🇮🇳 गहनों का ब्रोकर

🇩🇪 Pfandleiher

🇮🇩 tukang gadai

🇺🇦 лотерейник

🇵🇱 pawnbroker

🇯🇵 質屋

🇫🇷 prêteur sur gages

🇪🇸 prestamista

🇹🇷 rehinci

🇰🇷 전당포

🇸🇦 مرابح

🇨🇿 zástavár

🇸🇰 záložňa

🇨🇳 典当商

🇸🇮 zlatar

🇮🇸 veðmálamaður

🇰🇿 заем беруші

🇬🇪 ზედაზაური

🇦🇿 pawn broker

🇲🇽 prestamista

Etymology

The term 'pawnbroker' originates from the late Middle Ages, around the 15th century. It is derived from the word 'pawn', which comes from the Latin 'pannus' meaning 'cloth' or 'piece of cloth'. This links to the practice of exchanging goods, such as textiles or tools, for financial assistance. Over time, the practice of pawning evolved, and by the 16th century, pawnbrokers became more formalized as businesses, particularly in urban areas. Regulations started emerging to govern the operations of pawnbrokers, ensuring fair treatment of borrowers and preventing exploitation. The industry retained its relevance through the centuries, adapting to societal changes and becoming a popular option for individuals facing financial difficulties, especially during economic downturns.

Word Frequency Rank

At rank #27,702, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.