Pawnbroking across the Known Realms

The fee rune is perhaps the oldest and most well-known across all the kingdoms and provinces of man. It is universally known as the symbol for pawnbrokers. It is believed to have be born in the dissolution of the Vyrum civilization by former servants and slaves selling the goods of their absent masters. The practice of pawnbroking is to offer secured loans to people, with items of personal property used as collateral.

The practice is strictly the province of the free born yeomanry, as no gentleman and no nobleman would consider such a practice seemly. It is through the practice of pawnbroking that some common man have amassed fortunes to rival the great lending houses. While unseemly, it is undeniable that the better born have availed themselves of pawnbrokers services more than any other class, and for obvious reasons. There are even reports of kings pawning their crowns and scepters to fund military excursions.  

The items having been presented as collateral are called pledges. The most common type of pledges are jewelry, gem stones, musical instruments, coins, gold, silver, weapons, armor, books and objets d'art. The amount that is universally loaned on an item is half of its resale value (often half of the price of the item when it is purchased new except in the case of items which appreciate in value). The loan is typically made for a period of 4 weeks, at which point, the owner can pay 110% of the loaned amount and see the safe return of his property. Barring that, he can extend the loan for another four weeks by simply paying 10% of the loan value.

Unlike other lenders, the pawnbroker does not seek to make right on a defaulted loan. Since he retains possession of the collateral, and simply offers it for sale to recoup any losses.