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Pawned Meaning: Definition, Examples, and Translations

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pawned

[pษ”หnd ]

Definition

Context #1 | Verb

financial transaction

To pawn something is to give an item to a pawnbroker in exchange for money, with the understanding that the item can be redeemed later by paying back the loan plus interest. This process typically involves leaving a valuable item, such as jewelry or electronics, as collateral. If the borrower fails to repay the loan within the agreed period, the pawnbroker may sell the item to recover the money. Pawning is a common alternative to traditional loans for those who may not have access to credit.

Synonyms

collateralize, hock, pledge.

Examples of usage

  • She pawned her necklace for quick cash.
  • He decided to pawn his guitar to pay rent.
  • Many people pawn items during financial difficulties.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Cultural Significance

  • In many cultures, pawning represents a form of financial support, helping people in times of need.
  • Pawn shops are often associated with unique finds and collectibles, making them popular spots for treasure hunters.
  • The practice is depicted in various films and stories, often highlighting themes of desperation or clever negotiation.

Economic Insights

  • Pawn shops provide quick loans without the need for credit checks, making them alternatives for those with poor credit.
  • The pawn industry has seen growth due to economic recessions, as people look for immediate cash solutions.
  • Items typically pawned include jewelry, electronics, and musical instruments, reflecting societal value on material possessions.

Legal Aspects

  • In many regions, the laws regulating pawn shops ensure the protection of both the pawner and the pawnbroker.
  • A pawn transaction is legally binding; if the pawner fails to reclaim their items, the pawnbroker can sell them.
  • Pawn shops often require identification to prevent theft, making them safer places for consumers.

Psychological Factors

  • Pawning items can elicit feelings of loss and regret for some individuals, as it represents giving up possessions of personal value.
  • The decision to pawn often involves emotional and financial stress, showing how intertwined finances are with personal well-being.
  • People may feel a sense of empowerment when successfully reclaiming their pawned items, highlighting resilience in facing financial challenges.

Origin of 'pawned'

Main points about word origin

  • The term 'pawn' comes from the Old French word 'pan', meaning 'to pledge'.
  • Historically, the word was related to the Latin word 'pignus', which also means 'pledge' or 'collateral'.
  • The act of pawning could be traced back to ancient civilizations, such as the Romans and Greeks, who practiced similar transactions.

The word 'pawn' stems from the Latin term 'pignus,' meaning 'pledge' or 'pledged thing.' The transition to the modern term 'pawn' occurred through the Old French word 'pan', which referred to a pledge or security. Initially, the concept of pawning items was associated with securing loans and financial transactions, evolving through medieval Europe where lending against valuable items became common. By the late Middle Ages, the practice had spread widely, and pawnbrokers became established as a significant part of the financial landscape, especially in urban areas. The use of the term has expanded over the centuries, but its core meaning has remained closely tied to the act of securing money through the temporary exchange of possession.

Word Frequency Rank

At rank #29,018, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.