1960s Pawnshops

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Sunday 8 July 2012 8.09pm
Hi everyone.

Fingers crossed that one of you good people will be able to help with my question?

Back in 1969 my mum had to pawn her wedding ring in order to feed us kids. Unfortuantely she couldn't afford to pay back the money so sadly lost her ring.

My sister and myself have been trying to work out how much mum would have got from the pawnbroker, for a plain 9ct band. And how much he was likely to have sold it on for?

We think she may have received about 2 and maybe the broker sold it for about 4? Would anyone know if these amounts are close to the mark?

Thanks.
Tuesday 24 July 2012 2.02pm
Annie May, a friend of mine tried to sell her heavy wedding ring about that time, all the shop would offer her was 3.00

She also tried to sell a very heavy gold bangle about 2" thick and was offered 12.00 for it....which she took, she needed the money.

In theory I think the shop was legally obliged to show in a ledger that they can only 'recuperate' the cost of the loan...if they sold it after the ticket had expired.
Tuesday 31 July 2012 4.59pm
Thanks Jan for replying.

I was probably right in thinking mum got about 2.00 given what you have mentioned. I always thought that if you didn't collect the item they sold it on for a hefty profit! But thanks again for your input.

Annie-May

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