Why do pawn shops need id

Pawnbrokers take in a wide range of items from their customers everyday including gold and diamond jewelry, musical instruments, televisions, electronics, tools, household items, firearms, power tools, and more.

These items can be used as collateral to secure a pawn loan against the value of the items or the shop may buy it outright to resell. Pawn shops gather personal information in order to comply with state and federal laws and regulations that govern people pawning or selling merchandise to the pawn shop.

During every transaction, pawn shops will ask for a government-issued photo ID for record keeping. The shop will also keep a log of every new item that comes into their inventory and submits it to a nationwide database that police departments monitor on a daily basis in the event that an item on a police report matches the description of an item found at a pawn shop.

Law enforcement authorities have the ability to download information about the items pawned or sold to the pawn shop as well as the description and identification of the person that sold or pawned items to the pawn shop. How long a pawn shop keeps records is limited to the software or lack thereof used in that pawn shop as well as state laws that may apply. The law varies by state regarding how long records should be kept and what information is required when pawning or selling merchandise to a pawn shop.

On average, records are kept between 3 to 5 years. After a certain period of time, pawn shops discard personal information by shredding paper records or deleting electronic records from their computer systems in order to protect your personal information from being stolen or otherwise compromised. Have more questions about pawn loans? Quik Pawn Shop in Alabama is a family owned business with a customer first mentality. They do their best to cater to the needs of their customers and help them find what they are looking for at the best price possible.

Ownership Affidavit : Provident can require an Ownership Affidavit for any collateral loan. The person signs the Ownership Affidavit before a notary public and attests, under law, that they actually own the item and that there are no liens or other encumbrances against it. Again, not a foolproof way to ensure ownership, but it helps. Examining the Item: Another way to determine if an item has been stolen is to simply look closely at it.

For example, if an engagement ring looks brand new i. Are they jittery and nervous? Are they willing to take a loan for a lot less than the object is worth, with no argument? These could be tell-tale signs that the item is stolen. In a case like this, our branch managers really have to use their gut feeling to make a determination on whether or not the person is telling the truth.

While we like a good bargain here at River City Pawn, we will still ensure that you leave knowing you got the best deal possible. Here are four things you should do before selling your gun to a pawnshop. Pawnshops must adhere to strict municipal and federal laws, especially when it comes to firearms.

A pawnshop must be a certified FFL dealer, which means it is certified to buy and sell new or used guns. It should also transport them from one branch to another for your convenience. The most significant benefit of pawning a pistol is that you receive immediate cash for it. However, you will not earn as much for it as you would if you took the effort to sell it through other means.

This refers to auctions, where you can get incredible prices, especially for historical pieces. Prep Your Gun Before Going Unload your guns entirely and store any ammo and attachments in a separate, sealed container.

Before entering the pawnshop, place the weapons in their cases. River City Pawn's pawnbrokers and appraisers adhere to the strictest safety protocols when it comes to weapons. Prepare for a Background Check One last point to remember is that pawnbrokers will most likely screen you through a routine background check before or during the transaction. It makes no difference if you already owned the pistol before pawning it.

In any case, routine background checks are required by state law across the country. Knowing this, save yourself time by bringing your government-issued ID, driver's license, and any other documents usually required when purchasing a gun from a licensed store.

Most pawnshops will pawn or sell any quality pistol or rifle that has been severely worn but still functions correctly. A "like new" gun will be much more precious, and it will be even more valuable if you have an antique rifle, such as one from the Civil War.

Regardless, expect them to vet and inspect your antique gun to ensure its authenticity—even if you know the history, a pawnbroker would still follow their standard procedures. Conclusion Selling a firearm to a pawnshop or obtaining a loan on a firearm from a pawnbroker is an excellent option to obtain quick cash.