Compilation of Reports
MONEY AND BANKING:
PAWNSHOPS
BY:
JUNAISAH NISSI DEGOMA
CHARLYN MAYBITUIN
JEMAR PARACALE
ESTHER ROSE TABUGO
ZEANNEVILLE TINDOC
ROZLENE TORRES
DIANA GRACE VINA
The History of Pawn Shop * Pawn Shop- is a store which offers loans in exchange for personal property as equivalent collateral. * Pawn broker- A small lender who lends money with interest rate and holds some of the borrower's personal goods as collateral. * The word ‘’pawn” stems from latin word ‘’patinum” meaning cloth or clothing because for the working class, clothes were often the most valuable items they owned. * It was believed that Pope LeoX once had pawn his palace furniture and silver to cover his luxurious lifestyle. * And Queen Isabel of Spain also pawned his crown jewels to finance Columbos’ voyage to America. * St. Nicholas- he was the patron of the pawnbrokers during those times. * He was the reason why pawnbrokers would hang three golden balls above the doors of their shop. * Pawn shop started in Ancient China over 3000 years ago. * Through middle ages, English Lombards and Medicis of Florence were the money lenders in Medieval Europe. * The Lombards counted King Edward III, who pawned his jewels to raise funds for English Military, among their clients in 14th century. * Dolly Shops- it charges very high interest rates during 18th and 19th century. * Pawnbrokers Act of 1878- is a regulation that laid down what could be charged for various loans and their duration. * Consumer Credit Act of 1974- is an act that lays down new restrictions but removing others and making a trade practical once again for pawnbroker and customer. * Tambunting Pawnshop- it was the earliest pawnshop in the Philippines that started since 1906. * It was owned by Don Ildefonso Tan Bunting, a son of a Chinese immigrant from Fujian, China.
Kinds of Pawnshops 1. Electronic Pawnshops 2. Musical Instruments Pawnshops 3. Jewelry Pawnshops 4. Television and Computer
PAWNSHOPS
BY:
JUNAISAH NISSI DEGOMA
CHARLYN MAYBITUIN
JEMAR PARACALE
ESTHER ROSE TABUGO
ZEANNEVILLE TINDOC
ROZLENE TORRES
DIANA GRACE VINA
The History of Pawn Shop * Pawn Shop- is a store which offers loans in exchange for personal property as equivalent collateral. * Pawn broker- A small lender who lends money with interest rate and holds some of the borrower's personal goods as collateral. * The word ‘’pawn” stems from latin word ‘’patinum” meaning cloth or clothing because for the working class, clothes were often the most valuable items they owned. * It was believed that Pope LeoX once had pawn his palace furniture and silver to cover his luxurious lifestyle. * And Queen Isabel of Spain also pawned his crown jewels to finance Columbos’ voyage to America. * St. Nicholas- he was the patron of the pawnbrokers during those times. * He was the reason why pawnbrokers would hang three golden balls above the doors of their shop. * Pawn shop started in Ancient China over 3000 years ago. * Through middle ages, English Lombards and Medicis of Florence were the money lenders in Medieval Europe. * The Lombards counted King Edward III, who pawned his jewels to raise funds for English Military, among their clients in 14th century. * Dolly Shops- it charges very high interest rates during 18th and 19th century. * Pawnbrokers Act of 1878- is a regulation that laid down what could be charged for various loans and their duration. * Consumer Credit Act of 1974- is an act that lays down new restrictions but removing others and making a trade practical once again for pawnbroker and customer. * Tambunting Pawnshop- it was the earliest pawnshop in the Philippines that started since 1906. * It was owned by Don Ildefonso Tan Bunting, a son of a Chinese immigrant from Fujian, China.
Kinds of Pawnshops 1. Electronic Pawnshops 2. Musical Instruments Pawnshops 3. Jewelry Pawnshops 4. Television and Computer