CORE VALUES
You Can Count On
We Start With the Hard Data
To enter the ring and negotiate with a buyer and get the best price for your pawn business, you need your shop in its best shape.
As the Market Shifts, So Do We
Stallcup Group knows how to keep your pawn shop marketable; staying on top of the shifts while maintaining flexibility that keeps the communication with buyers on equal footing.
Analysis and Results Driven Marketing
Having a representative that understands the true value of your pawn shop and is aware of your own vested interests is critical. Using tangible, datadriven analysis with multiple buyers, Stallcup Group takes negotiation out of the selling/closing process and keeps the discussion favored on your side of the table.
We Represent You, The Owner
Stallcup Group’s history started in the pawn industry. Having experienced both sides of the negotiation table, we understand how to use your knowledge as a pawn shop owner to fuel and optimize your selling power.
Another Six Pawnshops Sold!
Stallcup Group facilitates the sale of six stores in Chicago, IL!
January 2026 | Stallcup Group, Inc., an Exit Strategy Consulting firm, is excited to share our successful involvement in the sale of Sterling & Knight Jewelry & Pawn , an independent pawn shop chain in Chicago, IL. We were the exclusive financial advisor to the seller, ensuring a smooth and profitable transaction. Choose Stallcup Group for your exit strategy needs and achieve success.
Stallcup Group’s detailed examination of the seller’s financial data played a pivotal role in guaranteeing our client’s achievement of all their selling objectives.
Another Eight Pawnshops Sold!
Stallcup Group facilitates the sale of eight stores in Las Vegas, Phoenix, and Utah!
January 2026 | Stallcup Group, Inc., an Exit Strategy Consulting firm, announced its successful facilitation of the sale of TNT Pawn & Jewlery. TNT Pawn & Jewlery is an independently-owned business comprised of eight pawnshops located in Las Vegas, Phoenix, and Utah. Stallcup Group served as the exclusive financial advisor to the seller in this highly successful transaction.
Stallcup Group’s thorough analyses of the seller’s financial data, and the unique attributes and characteristics of both the company and individual store helped ensure their client achieved all of their selling goals.
I worked with the Stallcup Group in the sale of my pawn business, and the experience was excellent from start to finish. Their deep industry knowledge, professionalism, and credibility were evident at every step of the process. They were instrumental in creating a clear, concise, and well-managed transaction that stayed on timeline and aligned with the outcome I set out to achieve. I genuinely appreciated their guidance, responsiveness, and steady leadership throughout the process.
Anthony Twist - CEO TNT Pawn & Jewelry
For those in the pawn industry considering a sale, I wholeheartedly recommend consulting with Steve Stallcup at Stallcup Group. His expertise not only secured an unprecedented industry price for my business but also ensured a smooth transition to the new ownership, minimizing the impact on our staff and preserving the legacy we built over decades of hard work.
Bob Moulton National Pawn and Jewelry, NC
KRISTEN WILLIAMS
Executive Director Kristen@nationalpawnbrokers.org
BUSINESS DEVELOPMENT
JODY KUDLESS Director of Business Development Jody@nationalpawnbrokers.org
DAVID LAFLEUR
Communications and Partnerships Manager David@nationalpawnbrokers.org
EVENTS
CHRISTY NORCROS S
Events Director (PT) Christy@nationalpawnbrokers.org
VERONICA COSTANZA
Events Support Associate (PT)
Veronica@nationalpawnbrokers.org
MARKETING
LAURA WASILESKI
Marketing and Media Director Laura@nationalpawnbrokers.org
MEMBERSHIP
AMY KEHOE
Membership Services Manager Amy@nationalpawnbrokers.org
PEG KOCHY
Administrative Assistant (PT) Peg@nationalpawnbrokers.org
National Pawnbroker is the official publication of the National Pawnbrokers Association (NPA) and is published quarterly. No part of this publication may be reproduced without the written consent of Kristen Williams, NPA Executive Director. Sale or distribution of any or all of the contents of this magazine is prohibited. All rights reserved. For more information on advertising or to obtain additional copies of National Pawnbroker, call 817-337-8830 or send an email to info@nationalpawnbrokers.org.
EDITOR’S NOTE:This publication is designed to provide accurate and authoritative information on the subject matter covered. It is provided and disseminated with the understanding that the publisher is not engaged in rendering legal or other professional services. If legal advice is required, the services of a competent professional should be sought. Expressed opinions are those of the author and do not necessarily reflect the views of ownership.
EXECUTIVE OFFICERS
BILL DAWSON
President LDPM, Inc. Morrisville, NC
JOHNNY WHITESIDE
Immediate Past President Kendale Pawn Shop Sanford, NC
LISA LITTLE
Vice President
Fieldstone Jewelry & Pawn Conyers, GA
KERRY RAINEY
Secretary Bayou Pawn Hammond, LA
DAVID EHRLICH
Treasurer City Pawn Shop Montgomery, AL
KRISTEN WILLIAMS
Executive Director National Pawnbrokers Association Victor, NY
BOARD OF DIRECTORS
Beth Anundi, Capital Pawn, Salem, OR
Robert Barnett, Elk River Trading Co., Fayetteville, TN
Randi Butterfield, Big Dog Pawn, West Jordan, UT
Tim Collier, Pacer, LTD., Little Rock, AR
Jay Dunbar, Superior Pawn Company, Hampton, VA
Tara Kaminsky, EZ Pawn, New York, NY
Perry Lewin, Decatur Jewelry & Pawn, Decatur, IL
Boyd Naylor, Bali Credit Corp, San Antonio, TX
Scott Paulsen, Peninsula Pawn, Seaford, DE
Jeremy Powell, BJ Pawn & Gun, Denham Springs, LA
Scott Tiemann, Central Mega Pawn, Ontario, CA
Anthony Vanegas, Sunbelt Pawn, Houston, TX
LEGISLATIVE CONFERENCE 2026
The NPA Legislative Conference provides NPA members a unique opportunity to speak face to face with congressional leaders. Join us to build relationships and educate lawmakers on the real-world impact legislative policies have on pawn businesses and their customers.
Have a voice!
To register and book your hotel room, scan the QR code:
SCAN ME
Your Membership:
Priceless
Dear Members and Friends of the National Pawnbrokers Association,
As a pawnbroker, I have for many years viewed precious metals as an extremely liquid medium. I could call a refiner with whom I had a good working relationship with an estimate of the net recyclable gold I was sending, lock in a price, and the next day I would have a bank-wired advance deposited into our account. We based our pawn and purchasing decisions heavily on that liquidity. Friends and acquaintances conducted their business the same way. This all began to change in the silver markets late last year and subsequently the same thing began to happen with gold. Not only was this a concern for our company, but I also knew for the NPA and our members it was significant.
At the same time gold and silver were headed for historical highs. By late January, gold was over $5300 an ounce and Silver over $116. The markets could do what they would, but if we could not instantly liquidate the material, where did that leave us?
Recognizing the urgency, our diligent NPA staff teamed up with member Vito Granters and his online community, Pawnbrokers Helping Pawnbrokers, to host a town hall on January 28th. The live Zoom session, “What’s the Deal with Silver and Gold,” brought together a panel of Industry Partners from the refining business to break down exactly what was happening. With a better understanding of the situation, I put it into Eastern North Carolina terms: we were trying to push a bowling ball through a 2” hose pipe. No longer were we able to lock in prices or secure advance payments. This tightening has eased a bit since, but it’s still not like it was. I don’t know if it ever will be.
In late January (at the same time all this was happening) a neighbor inquired about selling silver. He told me he had been collecting the metal for years but was not sure how much he had. You all know what that is like. He may have a few coins, or he may have hundreds of ounces. Not having any notion about how much he had I arranged to meet him on January 29th. (Remember, the price of silver at that time was over $116.) I work tightly for friends, family, and neighbors as I am sure you all do. I treat them well; confident they will refer good business to me in the future. Historically this has borne out. It turns out my neighbor had a bunch!
Fresh off the aforementioned Zoom call, I built a little more than the old “normal” margin into the transaction. In the back of my mind, I’m thinking “it’s going to be months not weeks before I could be out of this inventory!” Explaining to him the state of the market, I quoted him a fair price and we did the deal. By that same time the
next day, silver was trading below $85 per ounce. Ouch. Silver dipped into the $60s over the next couple of weeks, and as of this writing, that’s where it remains. I lost money on that deal. Of course. I have not sold that silver, and time will tell how this transaction will turn out, but I will say this: Had I not been on that call the day before, it would have been much worse.
I won’t get into the intricate details of the transaction; my pride won’t let me disclose how poorly I did on that deal, one of my worst in 35 years. However, I can honestly say that the money I saved through the market-driven adjustments learned on that call will pay our company’s NPA dues for the next three years. Sure, I would have eventually gathered this information by other means, but not in time to save me from this specific deal. And this is not a one-off.
NPA dues pay for themselves. Simply paying dues is valuable because advocacy is our primary mission; however, active participation has its own rewards. The relationships I’ve established are invaluable. Formal educational opportunities keep me sharp; the informal ones are even better. When we come together for Pawn Expo or the Legislative Conference, the stories, shared experiences, and relationships I bring home are put to immediate use. I can’t put a monetary value on that—it’s priceless.
With respect and determination,
Bill Dawson, NPA President
Lessons from the Road: Finding the “Why” in Every Storefront
Dear Members,
Last month, while traveling in Florida, I had the opportunity to sit down with a prospective member who operates more than 30 stores. They shared an incredible story—one built from the ground up through grit, perseverance, long hours, and an unwavering drive to succeed. It was the kind of story that defines our industry, and I left that part of the conversation feeling inspired.
They were well aware of the work the National Pawnbrokers Association has done over the years. Yet when the conversation turned to membership, they shared something that stopped me in my tracks: they simply could not justify the expense.
I’ll be honest—that response surprised me. It stayed with me long after I left their office. I found myself reflecting on the work we do at the NPA and wondering
how it could feel invisible to someone who stands to benefit from it so directly. I shared with them what many of you already understand—that our Government Relations team is working 24/7/365 to serve and protect this industry. That every single day, legislation at the state and federal level is monitored, analyzed, and acted upon. That since January 1 alone, we have reviewed more than 6,000 bills and issued nearly 200 alerts to state leadership—each one with the potential to impact how pawnbrokers operate.
And still, it wasn’t enough to make the case.
I left that meeting feeling like I had lost a bit of wind in my sails. But as I continued my travels, something shifted. I spent the next two days with current NPA members—members who do understand the “why.” Members who proudly display the NPA sticker on their front doors, who are eager to share their affiliation on social media, and who recognize that being part of something larger than themselves matters.
That contrast was powerful.
It reminded me that while we may not win every conversation, our mission remains clear. There is still work to be done—not just in advocacy, but in education. We must continue to communicate the value of this association, to tell our story more effectively, and to ensure that pawnbrokers across the country understand what’s at stake.
The truth is, the work we do often happens behind the scenes. Success sometimes looks like the absence of harmful legislation, the quiet resolution of a regulatory threat, or the steady protection of your ability to operate your business. It’s not always visible— but it is always critical.
To those of you who support the NPA— thank you. You are not just members; you are partners in protecting and advancing this industry. Your belief in this work makes it possible.
And to those still asking “why,” we will keep showing up, keep advocating, and keep telling the story—because this industry, and the communities it serves, are worth it.
Thank you, as always, for your continued support.
Kristen Williams NPA Executive Director
While we may not win every conversation, our mission remains clear. There is still work to be done—not just in advocacy, but in education.
YOUR MEMBERSHIP DUES AT WORK
So far in 2026, our GRC team has already reviewed 6,750 bills to ensure your interests are protected. We’ve also dispatched 121 state alerts to ensure state leaders are briefed on legislation moving in their backyards.
Your NPA Membership dues are fueling non-stop advocacy so we see the threats before they reach your counter.
The Rate Cap Policy Debate is Alive in Washington, D.C. and It Is Not Going Away
Cliff Andrews CapCity Advocates
The debate on federal annual rate caps on consumer credit transactions has been going in in Washington, D.C. for several decades. While a national cap
for all consumers has not been passed into law, bills continue to be filed and there is a growing populist movement that transcends party lines centered around affordability that lends itself to an environment where caps are making news again. This issue is not going away.
In 2006, a key toehold for rate cap proponents was secured when a bipartisan group of Senators successfully pushed for enactment of the Military Lending Act (MLA). This bill placed a federal 36 percent annualized cap on certain credit products offered to service members and their dependents. The NPA worked hard during the rulemaking process to ensure that pawnbrokers were not included. However, ten years later there was strong pressure from Congress to expand the MLA to ensure it applied to most financial service providers in the name of uniformity, which ultimately resulted in pawnbrokers being covered in 2016.
Since the MLA, we have witnessed numerous pieces of legislation being introduced and reintroduced, along with Floor amendments, each cycle of Congress that would amend the Truth in Lending Act to place a 36% APR or MAPR cap on most consumer financial services products. It is important to highlight that these caps are not interest only caps. The proposed APR caps include interest and finance charges, while the MAPR is considered an “all-in” cap, as it includes interest, finance charges and all other fees. While none of these bills have passed out of either the House or the Senate, there are strong supporters in both chambers, and a growing list of thirdparty groups is pushing for passage. And to throw more of a spotlight on caps, there are several bipartisan bills to cap credit card interest rates and recent statements from the President suggesting capping card rates via executive order.
Continue to next page
The NPA worked hard during the rulemaking process to ensure that pawnbrokers were not included.
Continuation of
The Rate Cap Policy Debate is Alive in Washington, D.C. and It Is Not Going Away
In this Congress there are two primary rate cap bills that we are monitoring. The first is S. 3793, the Predatory Lending Elimination Act introduced by Senator Reed (D-RI), which would extend the Military Lending Act to all consumers for most consumer credit transactions. The second is S. 2781, the Protecting Consumers from Unreasonable Credit Rates Act introduced by Senator Durbin (D-IL), which would establish a national 36% APR usury rate.
In support of his bill, Senator Reed noted, “Hundreds of millions of American consumers could benefit from a 36-percent APR cap. In States that do not have such a cap, predatory lenders can offer loans with triple-digit APRs that trap individuals in cycles of debt.” He further stated, “The MLA’s successful track record demonstrates that providing reasonable, responsible limits on interest rates does not cut off consumers’ access to credit.”
In a similar statement in support of his legislation, Senator Durbin said, “Too many Americans suffer long-term financial harm from predatory loans
and deceptive tactics. We need federal legislation that cracks down on predatory lending and closes loopholes used to exploit hard-working Americans.” Also, he added, “The Protecting Consumers from Unreasonable Credit Rates Act would eliminate high-cost payday loans and other costly forms of credit that trap vulnerable consumers in endless debt cycles.”
If these bills were signed into law, the consequences for pawnbrokers would be devastating. A 36% APR on an average $180 transaction will only return $5.40 to the pawnbroker, which does not cover ordinary business expenses. The result would be a severe limitation of a responsible, non-recourse, and safety-net option like pawn, which ultimately hurts the very consumers these lawmakers aim to protect.
Fortunately, the votes are not there this Congress to move the bills. However, the coalition of interests behind these bills has grown over the years and the pendulum of power eventually will change possibly providing a path for passage. In particular, it is significant to
note that Senator Reed’s legislation has 15 prominent Democratic cosponsors and 176 consumer advocacy groups, faith-based organizations, veteran service organizations, and trade associations that support his bill. Therefore, we can’t let our guard down. The NPA will continue to work to ensure pawnbrokers are protected as we focus on the primary committees of jurisdiction, which include the House Financial Services Committee and the Senate Banking Committee, where we have spent many years proactively engaging with policymakers.
We need your help carrying the message about what you do for congressional constituents every day and to push back against these misguided onesize-fits-all policies that will reduce choice. Each spring the NPA organizes a legislative conference in Washington, D.C to provide an opportunity for NPA members to build relationships. For those members who can’t attend, the NPA can guide you on how to meet with your elected officials at home. Please join us in this ongoing mission critical effort to make our voices heard!
The Protecting Consumers from Unreasonable Credit Rates Act would eliminate high-cost payday loans and other costly forms of credit that trap vulnerable consumers in endless debt cycles.
Psst! Check out the full program lineup on page 33.
Not a Member? Join the
• Expert-led insights and peer breakout sessions
• Bustling exhibit hall with 125+ vendors
• Networking events every day
• Endless ways to grow your business
DIAMOND SPONSOR
Emmy Winner Lauren Sisler to Keynote Pawn Expo 2026
Two-time Emmy Award-winning sports broadcaster Lauren Sisler is set to take the stage as the keynote speaker for Pawn Expo 2026. Held on Tuesday, July 21, Sisler’s presentation will feature powerful insights on resilience and authentic leadership.
A staple on ESPN and the SEC Network since 2016, Sisler has built a career covering elite collegiate athletics. However, her message goes beyond the sidelines. In her keynote, "Shatterproof Leadership: Elevating Resilience & Purpose in the Workplace," she explores how to transform personal and professional challenges into a foundation for
success. Sisler’s session will focus on several core pillars:
• Learning to use adversity to build a mindset that thrives under pressure.
• Leading with authenticity to inspire bravery and trust within a team.
• Using personal and professional "why" as a compass to navigate industry shifts.
• Practical strategies to foster a workplace culture centered on growth and joy.
As the pawn industry continues to evolve, Sisler’s perspective offers a roadmap for leaders looking to strengthen their teams and personal resolve. Attendees can look forward to a session that balances inspirational storytelling with actionable leadership tools.
Catch Lauren Sisler’s keynote on Tuesday, July 21 2026!
DIAMOND SPONSOR
By Carol Ryan
Source: The Wall Street Journal, Feb. 24, 2026
THE LUXURY RESALE MARKET IS BOOMING. BRANDS ARE STRUGGLING TO CASH IN.
Luxury companies look like a rabbit caught in the headlights. The market for secondhand luxury goods is approaching a tipping point, but many brands can’t decide which way to jump.
Last year, the value of the luxury resale market hit 50 billion euros for the first time, based on estimates from Bain & Co., equivalent to $59 billion at current exchange rates. The resale business is growing faster than the primary market and is now the same size as all of the trade that luxury brands do through off-price outlets—their third-largest channel by sales.
Luxury companies have an uneasy truce with the biggest resale platforms such as Fashionphile and
The RealReal. Top brands including Chanel have used litigation to police what resellers can and cannot do.
“Resale is one of the fastest-growing corners of the luxury market, but brands haven’t figured out how to compete.”
logos to describe the products they are selling, but can’t plaster them all over their advertising campaigns or social-media content. And they avoid creating the perception of an affiliation with luxury brands in their marketing if none exists.
The problem is the thousands of small resellers popping up every year. Luxury goods are being resold by livestream on social-media platforms, through Shopify accounts and peer-to-peer resale sites like Vestiaire Collective where imageconscious brands have no control over how their goods are shown.
To stay out of the legal crosshairs, resellers must avoid using brands’ trademarks any more than is necessary. This means they can use
New and used luxury products are increasingly sold under the same roof as department stores get in on the act. Fashionphile has a partnership with
Neiman Marcus where customers can trade in their used luxury goods for credit to spend on new luxury goods at the store.
According to Boston Consulting Group, the share of secondhand goods in shoppers’ wardrobes has risen 7 percentage points to 28% since 2020. Traditional retail and newer business models such as rental and subscription services have lost out. Handbags, one of the most lucrative products for luxury brands, are particularly exposed to the shift. Young Gen Z consumers are now making nearly half of their bag purchases at secondhand retailers.
Luxury brands have experimented with resale platforms in the past. Gucci had a temporary tie-up with Vestiaire Collective. Chloe and Coach currently have initiatives that let shoppers quickly list their goods if they decide to resell them. A digital product passport imports all of the product’s authenticity data and specifications into a new resale listing.
Others are doing resale in-house but at a niche scale. Ralph Lauren RL 2.23%increase; green up pointing triangle sells vintage designs on its website at very high prices, including 1990s-era baseball caps for $295. LVMH MC 0.68%increase; green up pointing triangle-owned Rimowa lets customers bring their old suitcase to the brand’s stores to trade in
for credit on their next purchase with the brand. The company then refurbishes and resells the suitcases.
Rolex could provide a template. The watch brand’s certified preowned program did more than $500 million in sales last year, according to estimates from data-analytics firm WatchCharts. It keeps tight control over how the program is run, but outsources logistics to thirdparty retailers who handle all of the sales and pricing. This provides a distinction from unauthorized watch flippers and is helping Rolex slowly gain control over how its products are resold.
An option for luxury brands following this model might be to create permanent, authorized secondhand programs with high-end department stores, or well-run resale platforms like Fashionphile. They could negotiate full control over how the initiative is run, in return for providing an authenticity guarantee to customers.
Luxury brands have been understandably reluctant to get involved with the messy business of selling secondhand goods. The problem is, resale is proving such a hit with consumers that they risk losing market share by staying on the sidelines.
Caitlin Ochs for WSJ
Refining Delays, Market Volatility, and What Pawn Operators Should Know
In collaboration with PHP and the National Pawnbrokers Association, industry leaders recently convened to address one of the most pressing operational challenges facing pawn operators today: refining delays, metals volatility, and tightening liquidity across the precious metals pipeline.
With refiners, processors, and multi-store operators represented, the objective was clear: provide context, clarity, and practical guidance. What is happening in the market? Why now? And how should pawn operators respond?
The discussion revealed that the current strain on the refining system is not the result of a single event, but a convergence of structural capacity limits, financial tightening, and global economic uncertainty.
The Financing Chain: Why Payments Are Slower
A question echoed throughout the session: if material has been processed and sold, why are payments delayed?
The answer lies not in production, but in financing.
Large refiners rely on precious metal lease facilities, essentially credit lines extended by major banks that allow refiners to advance capital while awaiting final settlement. As volatility in the metals markets intensified, lease rates spiked dramatically. Banks tightened lending exposure to reduce risk.
When financing slows, settlement slows.
Processors waiting on funds from primary refiners cannot release payments downstream until capital clears. This does not signal insolvency. It reflects timing strain within a layered financial structure.
When both refining capacity and financing availability tighten simultaneously, delays become inevitable.
The Capacity Problem: How Silver Became Constrained
Today’s refining delays are rooted in long-term structural shifts. When Republic Metals shut down several years ago, roughly 20 million ounces of annual refining capacity disappeared from the U.S. market. That production volume did not vanish; it shifted to a small number of remaining domestic refiners.
Thesystemtightened,butitfunctioned.
Recent global events changed that balance. Concerns over tariffs and geopolitical instability triggered the movement of large volumes of vaulted silver from London into U.S. COMEX facilities. At the same time, rising silver prices encouraged increased selling from retail and commercial holders alike. As prices crossed psychological thresholds, inbound scrap volumes accelerated.
Refining infrastructure, already operating with limited excess capacity, became overwhelmed.
Thisisnotademandcollapse.Itisathroughput bottleneck.
Turnaround times that once averaged two weeks have stretched to eight or even twelve weeks in certain cases. Some refiners have temporarily paused accepting additional hard silver scrap in order to manage backlog and financing exposure.
continued on pg. 20
Gold: More Stable, But Not Immune
Gold has experienced fewer bottlenecks than silver, but it is not entirely insulated.
Exposure varies depending on the refiner and its business model. Some refiners experienced temporary purchasing pauses when financing channels froze. Others — particularly vertically integrated refiners with manufacturing and distribution arms — continued operating with only extended settlement timelines.
In practical terms:
• Gold refining continues.
• Settlement windows are longer.
• Liquidity planning is essential.
Pawn operators are encouraged to understand which primary refiners their processors rely on and how exposure flows through that network.
Market Volatility: Bubble or Structural Shift?
No panelist claimed to predict price direction. However, several macroeconomic drivers were identified as contributors to current volatility:
• Global economic uncertainty.
• Geopolitical conflict.
• Tariff speculation.
• Capital rotation from equities into hard assets.
Historically, precious metals benefit during periods of financial stress. Whether current pricing reflects short-term fear or longer-term structural repricing remains uncertain.
What is certain is that volatility should be anticipated, not ignored.
Operators should build plans around continued price movement, both upward and downward, rather than assuming stability.
Counterparty and Insurance Considerations
Another topic raised during the session was risk exposure while material is in refining.
Most refiners carry privately underwritten insurance covering physical metal in custody. However, this is not government-backed deposit insurance, and coverage terms vary by provider.
Some processors carry additional policies protecting pooled positions at primary refiners.
Operators should ask direct questions about counterparty relationships, insurance layers, and how risk is distributed across the refining chain. Understanding exposure is part of responsible liquidity management.
Operational Adjustments: How Pawn Operators Are Responding
Multi-store operators shared how they are navigating this environment. While approaches vary, several themes emerged.
Liquidity First
Operators are proactively securing additional lines of credit before they are required. Access to capital provides flexibility to maintain competitive buy prices and remain relevant in the market, even as settlement timelines extend.
Waiting until liquidity tightens significantly reduces options.
THE CAPITOL CLUB
Introducing the Inaugural Members of The Capitol Club
Through participation, these generous NPA members are helping to strengthen our collective voice, empower their peers, and move the industry forward.
• Braswell & Son Pawnbrokers
• Capital Pawn
• Empire Collateral Loan Co., Inc
• Pawn USA Gold & Jewelry Exchange
• LDPM, Inc.
• Paradise Pawnbrokers Inc
• Tom’s Pawn Central
• Alan’s Jewelry & Pawn
• Dynasty Jewelry and Loan, LTD
• Fieldstone Jewelry & Pawn
• Jery’s Pawn
• Pacer, Ltd.
• Peninsula Pawn
• Walt’s Pawn & Jewelry Buyer Inc.
SPOTLIGHT ON:
NPA Capitol Club Founders Council Members
The National Pawnbrokers Association recognizes the following Capitol Club Founders Council members for their leadership and support. These businesses actively strengthen the pawn industry’s advocacy, awareness, and national growth.
Braswell & Son
An NPA member since 2012, Braswell & Son is a proud NPA Founders Council participant. Douglas Braswell served on the NPA Board of Directors for many years and as Treasurer, shared a vision that led to the inception of The Capitol Club. Braswell & Son are longtime supporters of the pawn industry and the Arkansas communities they serve.
Capital Pawn & Couture
Since joining the NPA in 2012, NPA Capitol Club member Capital Pawn & Couture has championed the pawn industry as a dedicated supporter of Oregon communities. Both Beth and Adam Anundi are actively engaged in the association, with Beth offering her time and expertise to spearhead NPA’s Pawnbroker Peer Group program. Beth has served on the Board of Directors for many years and is currently NPA’s Membership Committee Chair.
Empire Loan
An NPA member since 1992, Empire Loan continues its legacy as an NPA Capitol Club supporter, committed to the pawn industry and the Massachusetts communities they serve. Michael Goldstein served on the NPA Board of Directors for 10 years, with three of those years being the NPA Treasurer.
Pawn USA, Inc.
A dedicated NPA member since 2013, Pawn USA, Inc. remains a longtime advocate for the pawn industry and the Virginia communities they have served for years. Pawn USA is an annual supporter of both Pawn Expo and the Legislative Conference.
Picasso Pawn
Picasso Pawn has been an NPA member since 2008. As part of the NPA Capitol Club, they provide steadfast support to the pawn industry and North Carolina communities. Bill Dawson has served on the Board of Directors for many years. Bill served as NPA’s Government Relations Committee Chair for two years and is currently serving as NPA President.
Join the Capitol Club
to our Thank You 2026
sponsors
July 19-22, 2026 | Paris Hotel & Casino, Las Vegas, NV
EMERALD
David h. Fell & Company
JM Insurance Agency Partners, Inc.
Shergo Systems
United Precious Metal Refining, Inc. (UPMR) Yehuda Company
SAPPHIRE
Instappraise, Inc.
Rapaport Group
July 19-22, 2026 | Paris Hotel & Casino, Las Vegas, NV
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Planning for the Unthinkable: 5 Lessons from Capital Pawn
In2020, NPA members Adam and Beth Anundi of Capital Pawn (Salem, OR) faced the unthinkable: a catastrophic fire had destroyed their 5,000-square-foot flagship location. The cause was traced to a lithium battery skateboard taken in on loan just before closing. Within minutes, the building was engulfed in flames. The rebuild would take a full year. Their core takeaway? Hope for the best. Plan for the worst.
While sharing their experience during a recent NPA Lead and Learn session, the Anundis emphasized that simply having insurance is not enough. Understanding how it is structured determines whether your business survives a major loss.
Insurance should evolve with your inventory, market conditions, and growth. Their policy was divided into two primary categories: jewelry and firearms, and general merchandise. Because they carried replacement cost coverage, they were able to reimburse pawn customers appropriately, replace merchandise at retail value, and protect long-term customer relationships. Annual reviews now include:
• Replacement versus market value coverage
• Category limits and sublimits
• Deductibles
• Total insured inventory
• Gold value fluctuations
Business interruption coverage buys time; time determines whether you re-open. Capital Pawn carried three months of business interruption coverage. The rebuild took twelve. Delays included city permits, inspections, engineering requirements, and contractor scheduling. Payroll continued well beyond the insured period, and Adam and Beth chose to support their staff
throughout the closure. Today, they recommend carrying at least twelve months of business interruption coverage, particularly for single-store operators.
Redundancy protects your business when primary systems fail. If your emergency plan is stored inside your building, it may not help when you need it most. When the fire destroyed Capital Pawn’s primary camera system, a cloud-based backup preserved critical footage that helped identify the origin. The Anundis recommend:
• Cloud-backed camera storage
• Off-site digital document backups
• Virtual emergency contact lists
• A disaster response plan accessible remotely
Preparedness protects relationships as much as revenue. For Adam and Beth, the most difficult aspect of the loss wasn't the store's inventory, but the property customers had entrusted to them. More than 2,000 loans required individual resolution after the fire. Because of their insurance structure, the Anundis were able to resolve claims efficiently, negotiate directly with customers, and preserve trust within the community.
Strengthen industry relationships before they are needed. Support from friends, contractors, and fellow pawnbrokers played a critical role in recovery. Industry peers provided documentation systems, operational guidance, and encouragement during the rebuilding process.
Review your coverage annually, digitize important records, and build system redundancies. As Adam and Beth noted: “Stop assuming it won’t happen to you.”
Lesson 1:
Lesson 2:
Lesson 3:
Lesson 4:
Lesson 5:
BOTTOM LINE
Welcome to your all-new membership portal, built to empower pawnbrokers with the tools, knowledge, and connections you need to succeed.
Inside the InfoHub, you’ll find:
• Exclusive On-Demand Education
• Advocacy Updates That Matter
• Member-Only Business Resources
• Industry Insights
• Networking Opportunities
Over 45 Years of Excellence - No Wonder Why We Keep Growing!
We’ve built our business and our reputation by providing the highest returns with integrity, transparency, and unparalleled service - every day for every melt. Our loyal customers count on us for:
✦ Large-Scale Capacity: Shipments/lots of any size handled with precision & care
✦ Highest Accuracy: Fire assay analysis by highly trained chemists
✦ Increased Value: State-of-the-art, in-house diamond & gemstone recovery
✦ Financial Strength: Full Þnancing/settlement ßexibility with experienced, in-house trading dept.
✦ Concierge Service: Full transparency and communication throughout the process ConÞdence. Trust. Results. MID-STATES.
“Earning
Professionals? Young
YOUNG PROFESSIONALS DINNER – 2026 LEGISLATIVE CONFERENCE
Join the Young Professionals Committee and other under 40 conference attendees for a special dinner offsite the night before your visit to Capitol Hill. Sponsored by GIA®, this is a great time to get to know everyone, ask questions about the day ahead, and have some fun!
PAWNBROKER PEER GROUPS
Connect with other Young Professionals on Zoom each month to solve problems, share ideas, and learn from one another. Thanks to popular demand, the NPA has added a second group specifically for managers that meets every third Tuesday of the month. Want to join? Visit nationalpawnbrokers.org/young-professionals.
YOUNG PROFESSIONALS PRE-GALA RECEPTION
When the sessions end, the fun begins! Meet and network with other Young Professionals at the YP Reception before the Annual Gala & Auction begins! There will be plenty of drinks and snacks to get you in the spirit.
APPLY FOR THE FUTURE BUSINESS LEADERS SCHOLARSHIP FUND
Do you know someone who might qualify for the Future Business Leaders Scholarship?
The NPA is proud to provide scholarships for the children and grandchildren of NPA members and their employees. Now through May 31, 2026, eligible students may submit an application to be considered for the 20256-2027 scholarship fund.
July 19-22, 2026 | Paris Hotel & Casino, Las Vegas, NV
The Future of Pawn: High Tech Meets High Stakes in Las Vegas
Join the National Pawnbrokers Association this July 19–22 at Paris Las Vegas for three days of elite networking, regulatory insights, and the latest in retail innovation.
THE FUTURE OF PAWN: HIGH TECH MEETS HIGH STAKES IN LAS VEGAS
Why This Year is Unmissable
Pawn Expo 2026 isn’t just a convention; it’s a high-ROI investment for your business. With an attendee profile consisting of 48% store owners and 32% executive management, the networking floor is a concentrated pool of industry leadership. Whether you are a veteran of 30 years, new to the industry, or a rising Young Professional, the 2026 program is designed to move inventory and protect your margins.
The Main Stage: Keynote & Kickoff
• Keynote Speaker: Lauren Sisler takes the stage Tuesday morning to set the tone for a week of resilience and growth.
• State of the Nation: Get the essential legislative update from the Government Relations Team to stay ahead of federal and local shifts.
Monday: The Foundation
• Industry Insights: A full day of partner-led sessions featuring experts from: Bluestone Trading Company, Inc., P2M.ai, Stallcup Group, Inc., Exit-Strategy Consultant, GIA®, The Watch Register, Pawn One Trading LLC, Box Brokers Group, Yehuda, Pawnshop Consulting Group LLC, Bravo Store Systems, JM Insurance Agency Partners, Inc., Armslist.com, United Precious Metal Refining, Inc., NSSF, Summitt Gun Auctions, and Marshall+Sterling.
• The Jewelry Exchange: Kick off your trading early with dedicated hours to buy, sell, and network with the industry’s top wholesalers.
• Welcome Mixer: End the first day with highenergy karaoke and networking at the Paris Las Vegas.
DIAMOND SPONSOR
July 19-22,
Mastering the New Markets
From AI integration to the sneaker boom, 2026’s breakout sessions provide the roadmap for modernizing your shop.
Featured Breakout Sessions
• AI Made Simple & AI In Practice: Two dedicated sessions breaking down how Artificial Intelligence can save time in your shop today, followed by an interactive peer-driven discussion on real-world experiments.
• Sneakers in Pawn: Turning Hype into High Margin. Learn how to authenticate and capitalize on the explosive sneaker resale market with Ed Best.
• Live Selling Strategies: Natalee Peppitt demonstrates how to use Facebook Live and in-store streaming to clear aged inventory and build a digital following.
• The Firearms Market: A deep dive into compliance, risk management, and pricing cycles with a panel of veteran experts.
• Turning Color Into Cash: Moris Adato shares practical tips for valuing and marketing colored gemstones to offset the shifting lab-grown diamond market.
Event Highlights
• Annual Meeting & Awards Luncheon: Celebrate the best in the business during Tuesday’s midday ceremony.
• Grand Opening Welcome Reception: The Exhibit Hall officially opens Tuesday evening with a massive reception among the industry’s leading vendors.
• NPA Annual Gala & Auction: The Wednesday night grand finale. An evening of camaraderie, good food, and the high-stakes annual auction. Wear your cocktail best!
Spark Your Calendars!
Fast Facts
• Where: Paris Las Vegas
• When: July 19–22, 2026
• Who: Pawnbrokers at all levels
• Must-See: The Jewelry Exchange and the 2026 Exhibit Hall floor
12 Hours of Uninterruupted Exhibitor Time
Exceptional Educational Sessions
After-Hours Events
Pawn Expo 2026 is being held in Las Vegas from July 19 to July 22. Don’t miss this opportunity to invest in your business and connect with the best in the pawn industry. Visit pawnexpo.com to register and secure your spot. Early bird discounts are available through May 15, 2026.
Jewelry Exchange
Introducing Jewelry Services
Our legacy of trust, now available for jewelry.
For generations, the world has trusted GIA to provide accurate reports for loose gems.
Now, we're bringing our global leadership to new horizons by providing jewelry services.
Expect the same rigorous GIA standards, deep expertise, and advanced technology to add confidence and credibility to every jewelry report.
Colorado
Steven Adsit
President of the Colorado Pawnbrokers Association
Colorado continues to face significant challenges in the firearms arena. New legislation is taking effect this year, and additional bills have already been introduced that will directly impact pawnbrokers across our state. Staying informed and unified has never been more important.
We are continuing our push to bring every Colorado pawnbroker into our 100% Free State Association. A strong, organized membership ensures we have a collective voice and the ability to respond effectively to regulatory changes. Colorado pawnbrokers — please connect with your neighboring shops and make sure everyone is signed up. For information or to join: coloradopawnbrokers@gmail.com
Illinois
Jason Vandiver, President, Illinois Pawnbrokers Association
For the first time this year upon renewal of our licenses the state of Illinois required that we complete a continuing education course. While this caught many people off guard it was relatively simple and many pawnbrokers found the course very useful, especially for newer pawnbrokers and employees. This course was developed and provided in a very short time period by the IPA. We will be working on updating and perfecting the course itself and the distribution of it.
For many years Illinois pawnbrokers could expect to see our state regulator stop by their stores for an audit. This has not happened in quite some time as the department did not have the manpower to complete audits around the entire state. With the continuation of these audits came additional licensing fees distributed annually to pawnbrokers in Illinois. During the negotiations of a proposed fee for audits the Illinois Pawnbrokers Association worked very hard to negotiate a
reasonable rate for Illinois pawnbrokers. Illinois pawnbrokers should not be surprised to see a representative from the department stopping by their stores to conduct an audit.
In non-legislative news we are working on Fundraising for the Frank Ingram Memorial Scholarship which is open to applicants from april first to april 30. Each year the Illinois Pawnbrokers Association proudly comes together to support a scholarship that carries special meaning for our industry This scholarship is funded in honor of the late Frank Ingram a man whose dedication, leadership, and generosity left a lasting mark on the pawnbroking community throughout Illinois.
Lastly, I know that many Illinois pawnbrokers are very much looking forward to the Midwest Pawnbrokers Convention in May. This year’s Convention is full of powerful speakers from the paw industry and is sure to be one of the best conventions yet. You can find more info and register at WWW.THE-MIDWEST.COM.
Texas
Tammi Springett
Managing Director, Texas Association of Pawnbrokers
Our TAP convention will be April 10-12, 2026 @ Embassy Suites by Hilton in Roundrock TX. We will have Country Night on Friday night and Rock N Roll on Saturday! Costumes are welcome! All pawnbrokers welcome!
Oregon
Beth Anundi
President of the Oregon Pawnbrokers Association
The Oregon Pawnbrokers Association (OPA) continues to actively advocate for our industry while supporting education and collaboration across the Pacific Northwest. Through the work of our dedicated lobbyists and member engagement, Oregon pawnbrokers have successfully
State Associations,
helped prevent burdensome legislation that could have significantly impacted daily operations and customer access to pawn services.
At the same time, the PNW Pawn Conference continues to grow as one of the most hands-on educational events in the industry. The 2026 conference, themed “Back to School,” will bring pawnbrokers and industry partners together April 17–19 in Tacoma, Washington for practical classes, networking, and collaborative learning designed to strengthen businesses across the region. OPA also remains committed to supporting members through training initiatives, shared resources, and continued advocacy at the state level to ensure pawnbrokers can operate responsibly while serving their communities.
Virginia
Sydney Wood, Virginia State Contact I am working on bringing back the Virginia Pawnbrokers Association and would love to connect with anyone in the state who’s interested in being a part of it. Whether you’d like to join, share your ideas, or get involved on the board, I’d love to hear from you. Please feel free to text or email me at 571-294-0226 or sydneywood2001@gmail.com.
THE FUNDS YOU NEED TO
ARMS / AMMUNITION
Armslist.Com
Charter Arms
FFL Consultants
GunBroker.com
Guns.com
Hicks, Inc.
NSSF - National Shooting Sports
Foundation
Rounded, by Concealment Express
Summit Gun Auctions
AUCTIONS / RESELLERS
OfferUp for Business
Rapaport Group
AUTHENTICATION / DETECTION
Authentic Detective
Entrupy
Thermo Scientific Niton Analyzers
Watch Certification Services of America
BANKING / FINANCE / PAYMENT
PROCESSING
FlexApproved
Fortis
North
Pawn Shop Books
Pawnbroker Financing
Paychex
Payroc
Signature Processing, Inc.
COIN / WATCH BUYERS & SELLERS
Bezels for Watches
Isaac Watches & Jewelry LLC
Times Past
COMPUTER SERVICES / SOFTWARE
Arch Crown Inc.
Bravo Store Systems
Coreware
Dargentna Inc.
Elefta
Hi-Tech Pawn Software
P2M.ai
PawnMate, Inc.
Shergo Systems
Shopik
Snap Software Inc.
Torchsec Technologies
Whatnot
DIAMOND BUYERS / SELLERS
Aaria, Inc.
ABC Diamond Buyer, Inc.
Adamas
Andreana’s Diamonds
Bluestone Trading Company, Inc
Demond Gems, Inc.
Diatrendz
Di-Moksh Diam Inc
GemstoneGuru
Gemxo LLC
Georgia Carbon Jay Pays
Jebel Gems Inc/Shri Diamond Inc.
Jewelry Group
M. Schamroth & Sons
MAKS D LLC
Padmavati Exports, Inc
Palak Diam Inc
S. Padmavati Exports, Inc.
Smart Grown Diamonds LLC
Solitaire NY Inc
Sparkle & Dazzle LLC
StarDimon, Inc.
SunDiam, Inc.
The Dealer of Diamonds
EDUCATION / TRAINING / CONSULTING
AML Gurus
GIA - Gemological Institute of America, Inc.
IGI - International Gemological Institute
Pawnshop Consulting Group, LLC.
PawnTrain LLC
Stallcup Group, Inc Exit-Strategy Consultant
HR / INSURANCE / HEALTHCARE
JM Insurance Agency Partners, Inc.
Marshall+Sterling McLarens
JEWELRY BUYERS / SELLERS
Brilliant Elements
Burns Estate Jewelers
Classic of NY
Global Liquidators
Guruliq, Inc.
Nikos Jewelry Inc.
Pawn One Trading LLC
Sopraffino Jewelry, Inc.
Zafrani Gold
JEWELRY TECHNOLOGY
GemLightbox
Instappraise, Inc.
Jewel-Craft Inc.
Jewelry Appraisal and Gemological Institute (JAGi)
JTR Jewellery Technology Research, Inc.
Polygon
VTron Lasers
Yehuda Company
JEWELRY TOOLS / COMPONENTS
Ed’s Box & Supply Inc.
MARKETING / MEDIA / ADVERTISING
Strive Marketing Studio
PRINTING / PROMOTIONS
Burrell Printing Co, Inc
PRODUCT WHOLESALERS / DEALERS
Famous Gold, Inc.
Fashionphile
M & M Merchandisers, Inc
MIRC, LLC
Tiger Wireless
WBC Designer Luxury
REFINING
AAA Precious Metals, Inc
American Refining LLC
Core Scientific
David H. Fell & Company, Inc
Dillon Gage Metals
DLight Refiners
Elemetal LLC
Garfield Refining
General Refining Corporation
Hi-Tech PMR
Hoover & Strong
LGS Refining
Manhattan Gold & Silver
Midsouth PM
Mid-States Recycling & Refining, Inc
Noble Metal Refining
Noble Metal Services
Pease & Curren, Inc
PMRS
Refine Max Inc
United Precious Metal Refining
Upstate Coin & Gold
US Metals LLC
Williams Gold & Silver
RETAIL/SUPPORT TECHNOLOGY
Pawn Leads
STORE DESIGN / EQUIPMENT
Box Brokers Group
Eastern Lighting
Noble Display & Packaging
Rack’em Racks/Horizon Manufacturing
Sigma Metalytics
STORE SECURITY
Blue Dot
Camacho’s Safes LLC
Density USA
Elite Security Group Inc
Eyeson Digital LLC
Fortress Display
Rolland Solutions
Engage with lawmakers, strengthen relationships, and directly influence the policies that impact your business.
No one else should tell your story.
Authentic Detective
Alex Shtutman, Bulverde, TX
Coreware
Joel Cheney, Columbus, NC
Florida Gun and Gold
Jacob Kowalsky, Fort Lauderdale, FL
Instappraise, Inc.
Raphael Boivin, Calgary, Canada
-Charles Fouche, Beach Pawn
Miami Gardens Jewelry & Loans
Rey Chavez, Miami Gardens, FL
OfferUp for Business
Betsy Kennedy, Bellevue, WA
Pawn 1, Inc.
Sam Lax, Spokane, WA
William S. Rich and Son
Tracy Grantham, Newark, NJ
RETAIL READY
Guitars
PEOPLE OF PAWN: QUEEN OF PAWNS
OnMarch 28, 1995, a single pawn shop opened its doors in Lake Worth, Florida. That small storefront served as the foundation for what has become a second-generation, family-owned business with 17 locations across South, Central, and West Florida. Today, Queen of Pawns is proving that the secret to longevity in the pawn industry isn't just about the transactions—it’s about the people behind the counters.
Queen of Pawns’ success is rooted in its people, many of whom have built their entire careers within its walls. Daniel Gil, Manager of the Okeechobee location, joined the company 21 years ago when he was just 16. He recalls leaving school and heading straight to the shop. “It feels like family,” Daniel says. “You build
You see a lot of new things. You meet a lot of good people.
relationships with customers. You grow with them. You see families come in with kids, and then those kids start coming here as they grow up.”
This is a common thread throughout the company. Team member Santi Quintero also started at 17, following in the footsteps of his father, Walter, a veteran Queen of Pawns leader. Now 29, Santi believes the internal culture is what makes the business special: “If you have a good team, you’re going to have good results.”
The family-first mentality starts at the top, with leadership that prioritizes treating every team member with equal respect and creating an atmosphere that makes coming to work a joy.
“They know your name, they know your family, they literally know your parents,” says Maria Avilez, Queen of Pawns’ Marketing Manager.
“They actually connect with you on a personal level, and it definitely extends to the customers.”
experience: well-lit, organized, and spotless. Customers can find everything from antique gemstones and luxury bags to specific Rolex watches, which team members can locate using a new inventory system that searches across all 17 stores.
This modern transformation is supported by a creative team built from within. Maria joined a year ago, bringing 22 years of industry experience to build a marketing department from scratch. She works alongside Carol Bracero, who moved from the Dominican Republic and started at Queen of Pawns as a pawnbroker. Carol’s marketing talent was discovered during an internal company video challenge, and today she helps lead the rebranding efforts to reflect the high-quality environment the stores maintain.
What truly sets Queen of Pawns apart is a commitment to the core values of integrity, empowerment, and empathy. They offer generous layaway and pawn options, often holding items well past the 90-day mark as long as the customer communicates and makes small payments. Team members are open-minded about items and try not to turn anything away. They are trained to put themselves in the customers' shoes, seeing the potential in every person who walks through the door. “That's what we're here for,” says Santi, “to build relationships and bonds.”
As Maria puts it: “You’re not just an ID number. You’re a human being.”
The growth of the business is etched into the very buildings Queen of Pawns occupies. On the floor of the Okeechobee shop, a slight change in the tile work acts as a physical timeline, marking the spot where a once-small storefront expanded to meet the needs of its growing community.
Visually, each store is a mirror of the neighborhood it calls home, using bold graphics to reflect the unique character of the surrounding area. The company invites local artists to showcase their talent through mural art, music, and video projects in the stores—even serving as a backdrop for professional music videos. These artistic collaborations are part of a broader effort to strengthen neighborhood connections, support the local artists, and celebrate the communities Queen of Pawns serves.
In Lake Worth, the original store remains a landmark 31 years on, now distinguished by Jennifer Chaparro’s “Mandala of Togetherness” mural. It stands as a vibrant tribute to the relationships built there—one transaction, and most of all, one family at a time.
