Britons Love Soft Pawn
FACED with high-interest credit cards, greedy banks and high-risk loan sharks, large sections of the public are returning to the traditional pawnbroker to give them a helping hand with their finances.According to the Guardian, this ancient system of personal banking, famous for its three-balls logo, is making a major comeback thanks to internal reforms and the continuing rise in the value of gold. And – shock horror – it’s not only the riff-raff that are swapping their sovereign rings for a bit of extra cash, but the uber-sophisticated Guardian reading middle-classes themselves.
Chris Brown of pawnbrokers Herbert Brown points to the rise in prosperous families who wonder what to do with their valuable jewellery when going on holiday. “You can hide it in a sock or risk taking it with you”, he says. “But why not bring it to us as a pledge?”
What next, Hampstead liberals flocking to the high-street amusement arcade?
Posted: 10th, April 2007 | In: Money Comment | TrackBack | Permalink
