www2.ljworld.com/news/2008/oct/20/secondhand_shops_see_ -
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Last Visited: 10/30/2008
Doug Wahl, owner of Lawrence Pawn and Jewelry, 944 E. 23rd St., said he has recently noticed more people pawning goods to pay for everyday items.
"It's been pretty busy," Wahl said.
"We've seen quite an increase in loans from people just needing short-term loans, for people just getting gas at the end of (or) right before the end of the pay period."
Wahl said the majority of his business comes from repeat customers whose need for cash follows a pay cycle.
Close to the entrance of the pawn shop is a display full of precious stones, gold and pearls.
Most people in need of loans are bringing in jewelry.
"Gold," Wahl said.
"Scrap gold, even if it is broken gold, they bring it in."
They are also offering up firearms and power tools, which Wahl says are not selling.
"I think the recession and people out of work are having an effect on our tools sales," he said.
Wahl said he believes pawn shops provide a service that banks cannot.