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A spirit that is not afraid

Pawnshops thrive despite economy

Guns sit on display at Money Mizer Pawn and Jewelry. (Rebekah Weaver / Assistant Photo Editor)
Guns sit on display at Money Mizer Pawn and Jewelry. (Rebekah Weaver / Assistant Photo Editor)

With the current state of the economy, pawnshops are no longer attracting just gun enthusiasts.

Hank Richards, co-owner of Money Mizer Pawn and Jewelry on Opelika Road, said the shop gets a wide range of customers.

"It's been a cross section between high-end people and people just struggling to get by," Richards said.

Co-owner of Money Mizer Pawn and Jewelry Rick Snell said people are attracted to pawnshops because it's a lot easier than going to the bank to borrow money for household expenses.

"With employment the way it is, people don't have access to go to the bank anymore," Snell said. "They can't do it. Most banks have a $5,000 minimum."

Snell, a former banker, said 28 percent of the population doesn't even have a checking account.

"If they default, we don't report it to the credit bureau, so it won't go towards their credit," Snell said.

The pawn business thrives most during January, February and March.

Matt Hill, manager of Title Bucks on Opelika Road, said he's recently had an abundance of people paying off their pawns, especially with their tax refund money.

"In the past, people borrowed more money and didn't pay it off," Hill said. "Now, a lot more people are paying them off and being smarter with their money."

People are also frequenting pawnshops to get a little extra money for spring break trips.

Aaron Bushey, owner of Almost Anything Computers on North Gay Street, said when Spring Break comes around, students will ask themselves two questions when pawning their possessions.

"'Can I buy an extra night at the hotel or get an extra case of Bud Light?'" Bushey said as an example.

Bushey said he caters mainly to students because the store is near campus.

Bushey said the most popular items his store receives are iPods.

"They pawn stuff they don't have to have," Bushey said. "They will trade in their 30 gig iPod when they use their 60 gig iPod."

At other pawnshops farther away from student living, their most popular items are guns and jewelry.

Richards said people have realized they have the same ability as a department store to sell quality items.

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"We keep the store clean and looking like any retail store," Richards said. "They can come in and browse in comfort without the store looking junky."

During the latter parts of the year, Snell said they do just as well.

"Business does good in good times and in bad," Snell said.

Snell said people will always need money, especially for special events like graduations, birthdays and Christmas.


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