In southern and western states, they are pawned at a disproportionately high rate while in Colorado and Florida, vehicles are the most likely item. PawnGuru conducted an analysis of the American pawn landscape, finding there are considerable regional distances in the items people actually pawn. That has been enhanced even further by digitization and the relatively new phenomenon of online pawning. Pawn shops are attractive options for people seeking a quick and uncomplicated loan with long operating hours and no requirement to check credit scores boosting their popularity. and the industry has over $14 billion in revenue. Today, there are more than 11,000 pawn shops dotted across the U.S. Today, it is still going strong with an estimated 30 million Americans using pawn shops every year, using their property as collateral to secure loans. Pawnbroking has been around for a very long time, tracing its origins as far back as 5th Century China.
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