In the News

American Jewelry & Loan hosts a financial literacy workshop for customers.

Financial literacy seminar helping people make smart money decisions

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WXYZ: A financial literacy seminar taking place Tuesday is meant to help people understand how to make smart decisions about money.

You usually don’t go to a pawn shop to get a financial lesson, but American Jewelry and Loan is trying to help people better understand their money.

Seth Gold said, “People think it’s kind of weird that a pawn shop would host a financial literacy course. So the first reaction is kind of surprise.”

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Meet Les Gold in Plymouth, Indiana

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Les Gold will visit P & N Pawnshop’s Plymouth, Indiana location on Friday, October 28th from 2 until 4pm. P & N Pawnshop is located at 1842 West Jefferson Street. This event is free and open to the public.

Later, Les will be a featured guest at a VIP Dinner event for supporters of United Way of Marshall County where Les will share his story with attendees as well as insights to his family’s business and lessons that he’s learned in nearly 40 years as a pawnbroker. The event will feature an auction and book signing.

Les is a third generation pawnbroker who works alongside his son Seth at American Jewelry and Loan, located in the heart of Detroit. Their store has been the subject of truTV’s top-rated show, Hardcore Pawn which has broken numerous audience records and averaged nearly three million weekly viewers in the US.

“I first met the owners of P&N Pawnshop at a professional event and now I’m really looking forward to meeting their customers” Les said. “They’re a great resource to the people of Plymouth.” Fans will have the opportunity to visit with him, take photos and grab an autograph while taking advantage of specials and discounts on merchandise at the store.

“When you do business with P&N Pawn, you’re doing more than just getting the cash that you need for your gold, jewelry, and other valuables, you’re also supporting a locally owned business and keeping that money in the community” said co-owner Sue Firebaugh.

Local residents are encouraged to RSVP at the Facebook event page or learn more at

Seth Gold, vice-president of American Jewelr7 & Loan, named to Crain's Detroit 40 Under 40.

Seth Gold Named to Crain’s 40 Under 40

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[from Crain’s Detroit] Seth Gold did not always see his family’s past as his future. The vice president of American Jewelry and Loan and star of TV’s “Hardcore Pawn” said he was adamant that he would not be a pawnbroker. But at the end of college, where he was majoring in psychology, he had a change of heart.

“I realized we help a lot of people. Going to the bank is not an option for everyone. There are 25 million people in the United States who don’t have bank accounts. We are a bank to those people,” said Gold, noting that 80 percent to 90 percent of customers are able to eventually come back for the merchandise they pawned.”

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Seth has chosen the Jalen Rose Academy as his designated charity–please donate today!

Brandon Steiner: King of Sports Memorabillia

Brandon Steiner: Having What’s Next Mindset Key To Being Successful Entrepreneur

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CBS Sports: My family and I own a pawnshop in Detroit called American Jewelry and Loan. This has given us the distinct opportunity to obtain some of the rarest and unique pieces of sports memorabilia on the market. On our podcast Gold Tone, we try and ask each guest about what they collect, so it was an instant match when we welcomed the CEO of Steiner Sports, Brandon Steiner who’s widely considered the King of Sports Memorabilia.

Steiner had some great business advice and talked with us about the importance of having a ‘What’s Next’ mindset. Steiner says, “In order to be busy and effective you gotta think less about what’s immediately in front of you, but more about what’s ahead for you

“Having a ‘what’s next’ mindset is key to being a successful entrepreneur,”

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Crain’s Cleveland: Pawn shop is the ‘real’ deal

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This article from Crain’s Cleveland features our colleagues from Uncle Ben’s Pawn Shop:

Long before most people ever heard of Las Vegas’ Pawn Stars or Detroit’s Hard Core Pawn crew, Lou Tansky was already living what would become a reality show for most of us.

For more than 50 years, he’s been working at Uncle Ben’s Pawn Shop in Cleveland, a business his father started in 1947. It’s not that Tansky’s old — he’s just 59 — but he got an early start.

“I have memories of being 6 years old and coming to work with my dad, earning a nickel a day,” Tansky said. “It was more work for my father to have us down there, I’m sure,”

His father, Ben, was just out of the service, having spent more than three years in combat during WWII. He had a $500 GI loan and, coincidentally, an uncle, Sam, who taught him the pawn business at another shop in Cleveland. Ben figured he could make a go of it on his own, and he set up shop at East 49th Street and Payne Avenue, where he did business for 47 years before the store moved to its current, 2,500-square-foot store on St. Clair Avenue.

Ben’s been gone since 1994, but the business remains in Lou’s blood, and he says he still loves going to work every day.

He says there’s lots to like about the pawn business, especially for a history buff like him. It really is true about pawn brokers never knowing what’s going to walk in the door, and on a recent August afternoon, Tansky was showing off some recent prizes, including a validated signature of George Washington. Tansky already had a John Quincy Adams and a James Munroe signature, but this was a first.

Coincidentally, a plaster bust of Washington, removed from a demolished home back in the 1950s, is the oldest resident of Uncle Ben’s Pawn Shop. It still sits in the front of the shop, and the boy who brought it in recently returned as a grown man and laughed when he saw it, Tansky said.

Read the full article at Crain’s Cleveland



Screen Shot 2016-08-27 at 10.54.33 AM Addicted to pawn: Why designer handbags are the new gold

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[via BBC]: “It’s a Chanel day bag – a timeless classic. If you had 50 in the shop, you’d sell all 50,” says Nathan Finch, managing director of Pickwick pawnbrokers.

We are in the strongroom of his shop in north London, where he is showing off some of the hundreds of bags that customers pledge each year, in return for borrowing money.

Once it was mostly watches, gold or jewellery that people took to pawnbrokers. Now, designer handbags are the big growth area.

They are increasingly high in value – often worth thousands of pounds each, they are easily portable, and there is a seemingly limitless supply.

“For some women, it’s a bit of an addiction. They get their fix from buying a bag. But like most cravings, it comes again,” says Mr Finch.

“One customer brought 18 bags into our Dartford store.”
Private jets

With celebrity endorsements from the likes of Cara Delevingne and Kim Kardashian, bags offer plenty of glamour.

But on a more practical level, you can use them to borrow cold, hard cash.
Yet some of those who pledge their bags are already extremely well off.
Debbie Wynter, who runs the pawnbrokers Suttons and Robertsons in central London, calls them “the ladies who lunch”.

“One customer wanted to raise a loan so they could go on holiday on a private jet, in style,” she says.

They may live in flashy houses in South Kensington, but sometimes they don’t have access to ready cash.
However, often they are ordinary working women.

Borrowing from myself

Kim Baker, an office administrator from Kent, has three or four designer bags, which she regularly pawns at her local shop.

Her favourites are a Mulberry Bayswater, a Louis Vuitton Postman, and a Chanel clutch bag.

“I flip between the Mulberry and the Louis Vuitton because I don’t like to part with the Chanel.

They probably go in every couple of months, but they’re never in there for long.”

On occasion, she’s been tempted to pledge one bag so that she can afford to buy a different one.

“Yes, I would pawn one to buy another one. It’ll just come home until I put it in again.”

She typically borrows a couple of hundred pounds at a time, to pay for holidays or school uniforms. And she prefers to take a loan from a pawnbroker rather than a payday lender or friends.

“Because it’s my item, it feels like I am borrowing from myself, if that makes sense.”

Click HERE to read the full article at

The National Pawnbroker's Association offers guidance and support to pawnbrokers.

NPA Weekly Newsbrief: American Jewelry And Loan Pawn Shop Chain Grows With The Times

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From the NPA Weekly Newsbrief: The American Jewelry and Loan chain just got bigger.

The Detroit-based pawn business, star of TruTV’s “Hardcore Pawn,” acquired Joey’s Jewelry & Loan on John R just north of Eight Mile Road for an undisclosed amount.

Through the early June move, it increased market share while expanding its brand with a new location not far from the 38-year-old company’s original store in Detroit, said Vice President Seth Gold, the son of owner and president Les Gold.

Read the full article from the NPA Weekly Newsbrief.

Les Gold - Consumer's Digest

Reality-TV Star Goes With What He Knows

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[via Consumer’s Digest]

Les Gold is known for his business savvy when it comes to his Detroit pawn store, American Jewelry and Loan, which is the center of the TV show “Hardcore Pawn.” The cornerstone of the pawn business is to buy low and sell high—a lesson that Gold learned the hard way.

Years ago, Gold’s father-in-law had “the inside track on the price of cattle,” so he and Gold traded in it as well as pork bellies. It didn’t go well.

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