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Definitions

pawnshop

A store which buys and sells miscellaneous goods of value, or holds goods temporarily as collateral for secured loans to clients.

A pawnshop is a store where the proprietor, or pawnbroker, buys and sells personal properties which were either sold directly for second-hand resale, or given as collateral for a secured loan. When an item is pawned for a loan, the customer has the option to keep the money and leave the item for sale, or to claim it back later at a higher price.

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