double aught said:
So how does it work if the owner of an Aggie ring shows up to a pawn shop and wants their ring back? I guess they just have to pay to get it, regardless of how it got there?
If your ring is stolen and if a pawnshop violates state law and purchases said ring with someone else's name then you simply report it to the police, they'll place the item on hold to investigate, once they find probable cause that it's in fact your ring and it was in fact stolen then they will set up a property hearing where you will be given the opportunity to prove it's yours. Once the judge awards the ring back to its rightful owner you can get your ring back.
Pawnshop's are highly regulated by numerous agencies. If you're caught buying class rings with differing names you will lose your pawn license which is very hard and expensive to get. When I buy class rings I check the name, if it doesn't have a name I ask what school they graduated from, what class year they were etc. Petty criminals are stupid. They won't put in the time to actually understand what they have.
I've loaned on many Aggie rings, all of which were Aggies who needed some cash. Most came back for them and I have several in my possession stilll who have not come back. I'll hold onto these forever.
There are no doubt a select few of bad or less than honest pwnbrokers out there but they're weeding out quickly. This is a profession where money can be made honestly. Publicly traded companies and small entrepreneurs aren't willing to risk hundreds of thousands of dollars on stolen merchandise
If anyone ever wants to experience a pawnshop for a day just let me know. I'd love to host any of you.
