Pawn Tickets: Learn How Pawn Shops Record Pawn Transactions

How Does A Pawn Ticket Work?

Pawn tickets are issued by pawn shops when you pawn an item. Pawn tickets are legal documents detailing transactions between a pawn shop and its customers. Pawn tickets and the information required are determined by local, state, and federal laws that regulate the pawn industry.

When you pawn an item, the pawnbroker will collect the information required to fill out the pawn ticket. The pawnbroker will copy information from your government-issued ID (see minimum age requirements and documents you need to pawn) and collect information related to the item you are pawning. The pawnbroker then will give you a copy of the pawn ticket as proof of the exchange, and the pawnbroker will keep a record at the store.

Pawn tickets are usually filled out on special forms created by pawn ticket printers like Burrell Printing. Pawn ticket printers create tickets specialized for each state given each state’s reporting requirements differ.

What Information Does A Pawn Ticket Contain?

Pawn tickets vary state-to-state based on laws. Generally, pawn tickets contain the following information:

• Business name, address, phone number, and license number of the pawn shop.
• Terms & conditions of the transaction.
• Borrower (pledgor) information - name, address, phone number, government-issued ID number, birth date, gender, weight, height, hair color, eye color, and other descriptive factors.
• Merchandise information - description of the item pawned, serial number(s), and any other specific information to identify the item.
• Pawn ticket number - a unique transaction number.
• Transaction date - the date on which the pawn loan was issued.
• Due date - the date on which the pawn loan is due.
• Amount financed - total loan amount.
• Finance charge - interest charge for the loan duration.
• Service fees - any non-interest fees associated with the transaction.
• Annual percentage rate - the effective interest rate charged for the loan.
• Borrower (pledgor) signature

Below is a sample pawn shop ticket from the Pawn Stars Gold & Silver Pawn Shop in Las Vegas. Mike Kimbro pawned his watch for $20 on May 26, 2014.

Redeeming A Pawn Ticket

Pawn tickets can be redeemed any time before the loan due date. The borrower can repay the loan plus interest and service fees to the pawn shop to reclaim the item. The borrower can bring the pawn ticket to the pawn shop to redeem the ticket.

What Happens When A Pawn Loan Is Not Repaid

Pawn shop loans are collateralized loans, which means that the item you pledge as collateral secures the loan. Pawn shops can take ownership of the pledged collateral when the loan is not repaid. Failure to repay a pawn shop loan does not affect your credit score or credit history - neither your bank nor your employer will learn of the event. You can read more about how pawn shop loans work here and credit scores here.

According to industry data published by First Cash, a publicly traded pawn stock, about 25% of pawn shop loans are not repaid. Non-payment of pawn shop loans is normal in the pawn industry - it is part of business and how pawn shops work.

Pawn shops sell the merchandise pledged to get their money back. Often the item ends up for sale in the store. The pawn shop does not advertise or disclose that the item was related to a pawn shop loan. People browsing the store will not know if the item was sold directly to the store, or if a loan had not been repaid.

Some pawn shops allow customers to reclaim their items after the loan due date has passed. Pawn shops are not required to do this by law, so it varies from store to store. You should always understand the pawn terms before signing the pawn ticket and handing over your item. For example, the Gold & Silver Pawn Shop in Las Vegas pawn terms and conditions states: If you do not come back to claim your item before the 90-day loan period expires you can still pick up your item if we still have it in inventory. You will simply pay the additional interest and a $10 late fee.

Dealing With Lost Tickets

Often pawn tickets can become lost or misplaced. Most pawn shops can re-issue your pawn ticket for a small fee (usually $5 to $10). Service fees to re-issue your pawn ticket vary by store - you should ask the pawnbroker about fees before pawning your item.

Losing your pawn ticket does not affect your pawn loan. You should be able to reclaim your item when you repay the loan and show your government-issued ID.

Extending Pawn Shop Loan / Renewing Pawn Tickets

Many pawn shops offer the ability to extend pawn tickets / extend pawn loans beyond the initial loan due date. Typically pawn shops will require the borrower to pay all accrued interest and service fees before they will extend the loan beyond the due date. Not all pawn shops offer loan extensions, so you should ask about it before you pawn your item.

Pawn shops often have a limit to how long they will extend a loan. Some may limit it to 90 days, while others might be shorter or longer. Loan duration is often regulated by state laws and varies by region. You should ask your pawnbroker about loan terms in your region.

Some pawn shops allow customers to renew their pawn tickets online. You can ask your pawnbroker if they have an online app that allows them to manage the pawn ticket.

Finding Local Pawn Shops

Pawn Shop Map features a powerful tool to help you find local pawn shops in your area. You can use our tool to filter pawn shops by category. We include all of the contact information for your local pawn shops, so you can contact the stores before pawning your item to understand all terms and conditions of the pawn loan.

Example State Pawn Tickets

Below are examples of pawn tickets for specific states. All pawn tickets are from Burrell Printing.

Texas Pawn Ticket

California Pawn Ticket

Florida Pawn Ticket