National Pawnbroker Winter 2014 by National Pawnbrokers Association

Official Publication of the National Pawnbrokers Association

winter 2014

Page 8

NPA Legislative Conference April 9 - Washington, DC Page 21

Biltmore Loan Page 30

Pawn Expo

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Message from the President

WHAT’S NEXT FOR NPA? Ben Levinson NPA President

Our industry is changing, and the NPA is working hard to make sure that the association stays relevant to its members, the independent pawnbrokers of America. Throughout 2014, NPA volunteer task force members, staff, and board members are working overtime to enhance and broaden the educational opportunities available to members as well as the benefits and programs that the association provides you. We are focusing on three key initiatives that will provide more value for each membership dollar you spend:

2014 KEY INITIATIVES Advocacy–representing your interests before elected public officials and

agencies at the Federal level and telling them, the media, and other key stakeholders why the pawn industry is vitally important to our nation’s economic and social needs.

s new ways to broadEducation–providing you, your staff, and your busines business from those en your knowledge and skills and to differentiate your who do not meet our standards of customer service and excellence.

Member Services–Stepping up the way we serve you in an ever-changing business environment.

Exciting things are already happening! NPA Legislative Conference April 9 Washington, DC

Pawn Expo July 8-10 Las Vegas, NV

Did you know th at 30% of NPA me mbers took ad vantage of the two-yea r memb e rship dues dis count?

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Table of Contents

winter 2014

highlights NPA Legislative Conference

Page 8

Member Spotlight: Biltmore Loan

Page 21

Pawn Expo

Page 30

21 30 8

In this Issue Message from the President Message from the Executive Director Government Relations Government Relations Update 2014 NPA Legislative Conference NPA Policy Statement - Online Interstate Pawn Compliance FinCEN Update Community Involvement Gift Day 2013 FBL Scholarships Available Member Spotlight Biltmore Loan Vendor Spotlight White Pine Trading Member News New Members Get More from NPA 2014 NPA Annual Awards State News

1 4 6 8 37

25 17 19 21 26 11 13 14 41

Business Sense MJSA Resources Google AdWords French Hallmarks Loss Prevention Fact about Metals Computer Passwords Human Resources Social Media Monitoring Special Events 2014 NPA Legislative Conference Pawn Expo 2014 Calendar of events Index of Advertisers Official Publication of the National Pawnbrokers Association

wiNter 2014

35 8 30 59 60

Cover Story

NPA members take the pawn industry’s message to Washington, DC during the Legislative Conference Page 8

Page 8

NPA Legislative Conference April 9 - Washington, DC Page 21

Biltmore Loan Page 30

Pawn Expo

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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 Dana Meinecke, 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 Chris@NationalPawnbrokers.org. For membership information, email Margie@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. © 2007-14 National Pawnbrokers Association: PO Box 508, Keller, TX 76244 • (817) 337-8830 •NationalPawnbrokers.org EDITOR: Chris Pearcey, NPA Communications Specialist, Chris@NationalPawnbrokers.org DESIGNER: Carla L. Butz

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Message from the executive Director

Leading The Way We’re putting on our hard hats here at NPA and getting to work building an organization that meets the ever-changing needs of our industry.

Dana Meinecke NPA Executive Director

Your input is the only way for us to make this endeavor successful! Your investment in the future of NPA puts us on the threshold of greater opportunity.

Thank You!

26% of pawnbroker members completed a needs assessment survey in November 2013! As a result, we were able to confirm the value of our initiatives and move forward.

Be Included!

We need input from members across the country so that we can make sure we’re on track. Watch for your next chance to give us valuable input.

Pawn is Main Stream

NPA is working to create industry standards that will set members’ businesses apart. From business ethics to store appearance, you will be able to earn recognition for your efforts to be the best that our industry has to offer.

Did You Know about these member services?

25% NPA pawnbroker members use the Member Forum to get answers to their most pressing questions. The NPA has a verified member seal graphic for your website to show that you are a member of an organization committed to the betterment of the industry.

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government relations

We Can’t Predict the Future But we must be ready to respond

No matter how much you try to polish that old crystal ball, it’s hard to tell what direction our nation is headed. Over 100 House and one-third of Senate seats are up for re-election in November 2014. Throw in the mix a President who is term-limited and no clear leader in the polls from either major party, and everyone is left hanging wondering what will happen next. With this uncertainty in mind, the NPA must work with both political parties in Washington to ensure the pawn industry’s story is told and our interests are protected—and I don’t mean pawnbrokers in general, but specifically independent pawnbrokers and not the large, multi-store public operations.

The large public companies will continue to push for Federal Charter legislation. It is imperative that we have all hands on deck as we work to convince Congress of the importance of maintaining a level playing field for small businesses. It is the same old story—Wall Street vs. Main Street.

Our Message

We are not like other lending products! Pawn is a non-recourse, collateral based transaction, and we must educate local, state, and federal officials about the valuable role we play for the unbanked and under-banked American consumers in need of short term, small dollar loans.

There is no better opportunity to tell our story to our representatives in Washington than at the NPA Legislative Conference on April 9. There is no better opportunity to tell our story to our representatives in Washington than at the NPA Legislative Conference on April 9. Held each year in the nation’s capital, this event provides NPA’s members with an unprecedented opportunity to visit the offices of their elected officials to discuss issues of importance to the pawn industry. This year’s Legislative Conference promises to be one of the most critical in quite some time. See page 8 for more details on how to register. NPA is committed to helping first time attendees. The association is offering one night’s free hotel room to the first five, first time attendees who register. This will save you $340!

The number one thing that you can do to protect our industry is to attend the Legislative Conference in April. If you’ve never attended before, know that we will assist you and provide everything necessary to ensure that you enjoy an exciting learning experience you will never forget.

Tim Collier NPA GRC Chair

The association is offering one night’s free hotel room to the first five, first time attendees that register for the conference.

always vigilant

The NPA Government Relations Committee (GRC) has been monitoring a host of bills in Washington and, at the same time, aiding a number of states with electronic reporting legislation. From Hawaii to Ohio to New York, state pawn associations are fighting to secure our customers’ privacy rights. (Continues on page 58)

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government relations

2014 NPA Legislative Conference April 9, 2014 Washington, DC

Don’t let anyone else walk in your shoes!

Why Attend?

•

Build and reinforce relationships between you, the constituent, and your Members of Congress and their staff.

•

Create a greater understanding of the important role the pawn industry plays in serving the financial needs of Americans.

Hotel Information

Hamilton Crowne Plaza 1001 14th St NW Washington, DC 20005 Room rate: $279 per night Reservations: (800) 263-9802. Mention the NPA Legislative Conference to receive the special rate.

•

Support the NPA’s advocacy efforts on behalf of the pawn industry.

What Should I Expect?

Prior to the event, the NPA works with attendees to set up meetings with elected officials. It is important that you are available for the breakfast and dinner portions of the conference so please plan your travel accordingly. April 8 April 9 April 10

Travel day to Washington, DC Briefing Breakfast Legislative Conference De-Briefing Dinner Travel day from Washington, DC

Register now at NationalPawnbrokers.org. Questions? Contact Matthew Church at Matthew@NationalPawnbrokers.org or (817) 337-8830

It is important that I get to be the one telling my story about the pawn industry to my Representatives and Senators. I am not eloquent, or even especially personable, but I do care greatly about my business and my industry, and that makes a tremendous difference when talking to a lawmaker or their aide. I get to speak about working the pawn counter. I get to tell the stories of the good that we have done and how our business works, with firsthand actual accounts, not just some bullet points or buzzwords. I am not a “representative” of the industry speaking to them. To me, and hopefully to the people I speak with, that makes all the difference. It conveys the genuineness of my statements, and the pride that I take in being a pawnbroker. ~Raphael Tincher, Ted’s Pawn Shop, Cincinnati, OH

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Member News

National Pawnbrokers Association New Members October 5, 2013-January 10, 2014

Pawnbrokers Alabama

Lending Bear Dothan

Scott’s Jewelry & Pawn Roebuck Tarrant

Arizona

Border Pawn & Coin Nogales USA Pawn & Jewelry Sierra Vista

California

Maxferd Jewelry & Loan San Francisco Midtown Jewelry & Loan San Francisco

Florida

82 Pawn Columbus

Pawn Max II Pinellas Park Saint Petersburg

Greenville Pawn & Bargain Center Greenville

Gold N Connection Fort Lauderdale

Market Street Pawn & Gun Pascagoula

Georgia

Happy Hocker Pawn Sandy Springs

Iowa

Express Pawn Ames

Illinois

Fullerton Pawners Chicago

Indiana

Visalia Jewelry & Loan Visalia

Jack’s Loan Office Gary

Olde Towne Jewelry & Loan Co Ventura

Kentucky

Pawn Shop of Ventura Ventura

Connecticut

TC’s Pawn Company Jewelry & Electronics Exchange Waterbury

Mississippi

Lynn Financial Starke

Tri-State Pawn & Jewelry Ashland

Massachusetts

Fall River Pawnbrokers Fall River

Maryland

Top Dollar Pawnbrokers Waldorf

Gold N Guns Ridgeland

North Carolina

National Jewelry & Pawn #9 Raleigh

Oklahoma

Quick Cash Jewelry and Loan Oklahoma City

Oregon

The Pawnshop Salem

Pennsylvania

Pawn Plus Allentown Lancaster Reading (2) York

Texas

Jewelry & Loan Co Kannapolis

Money Mart Pawn & Jewelry Corpus Christi Houston (2) San Antonio (2)

Chauncey’s Elizabeth City

Half Price Pawn Houston

New Jersey

Texas Cash Pawn Gun Barrel City

New Mexico

Family Pawn Hurricane

New York

Cashland Pawn Clarksburg Morgantown

Barry’s Jewelry Loans East Brunswick Navajo Ventures Kirtland Modell Collateral Loans #9 Brooklyn New York Loan Co New York

Utah

West Virginia

WV Pawn of Morgantown Morgantown (Continues on page 54)

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GET MORE FROM YOUR

Marketing Your Reputation

Are you promoting your business with these NPA tools? ®

MEMBERSHIP

Membership in a trade or professional association supports your business’s positive reputation because it shows that you have invested in your industry and are willing to work to maintain standards of excellence. The success of a company is built on its positive reputation.

Door Decals NPA pawnbroker members receive two window decals in their membership kit. Place these decals on your front door or window to show you are a proud member of the NPA. The decals make it easy for customers to identify you as a professional business that adheres to best business practices set up specifically for the pawn industry.

Pawn PR 101 Pawnbrokers are in the media spotlight more and more every day. To become more comfortable with the media and their questions, the NPA developed Pawn PR 101, a quick-reference public relations guide written specifically for the pawn industry. The guide provides tips on how to successfully navigate the media interview as well as pawn industry facts. A copy of the brochure and fact card are included in your membership kit.

Verified Member Seal All pawnbroker members can place the NPA Verified Member Seal on their website. When a user clicks the seal, a dynamically generated window appears with the member’s company information, activity status, accreditation, and more. To activate the seal, follow the instructions found in the Members Only area of the NPA website under Verified Member Program.

Membership Certificate Your membership kit also contains a membership certificate listing your company name and the date you joined NPA. Frame the certificate and hang it in a conspicuous location to show your dedication to your profession.

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Member News

NPA Member Awards nominations are due april 1, 2014

Each year at the NPA Annual Meeting at Pawn Expo, the association recognizes the best of the best in the pawn industry. This year’s awards will be presented on July 9 during the association’s awards’ luncheon at the Mirage Las Vegas. Nominations are due April 1, 2014.

Pawnbroker of the Year Award

This award is presented to an individual who has demonstrated exceptional success in his/her business and local community and has made a significant contribution to the pawn industry during the previous year. Nominees must be an employee, partner, or owner of a current NPA pawnbroker or affiliate member in good standing for at least two years. Individuals may be nominated by an NPA member or a state pawnbroker’s association.

Kevin Prochaska, NPA President, presents the NPA 2013 Pawnbroker of the Year Award to Seth Gold, American Jewelry & Loan, Detroit, MI.

Industry Partner of the Year Award

This award is presented to the NPA Industry Partner who through his/her performance and dedication has shown significant support of the association and its members during the previous year. The nominee must be a NPA Industry Partner member in good standing. Nominations must be made by a NPA member.

Kevin Prochaska, NPA President, presents the NPA 2013 Industry Partner of the Year Award to Stuller employees, Kim McClung, Argelia Skero, Andy Kroungold, and Ken Dugas.

Do you know a NPA member whose service to the industry should be recognized? Complete the nomination form available on the NPA website and return it to the NPA office no later than April 1, 2014. Mailing Address: PO Box 508, Keller, TX 76244 Fax: (817) 337-8875 Email: Dana@NationalPawnbrokers.org 14 | National Pawnbrokers Association | winter 2014

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Charles R. Jones Lifetime Achievement Award

The goal of this award is to recognize an individual who over the course of his/her pawnbroking career has shown outstanding leadership and effort by going above and beyond to make a significant and lasting impact on the pawn industry. This individual is regarded by peers as a leader in the industry at a national level. This is this highest honor awarded by the NPA and should be awarded only to individuals who have demonstrated a lifetime commitment to the association and the success of the pawn industry. Nominees must be an employee, partner, or owner of a current NPA pawnbroker or affiliate member in good standing. Individuals may be self-nominated or nominated by a NPA member or state pawnbroker’s association. This award may be presented to more than one individual per year and does not have to be presented each year. This award may be given posthumously.

Previous Award Winners Pawnbroker of the Year 2013 Seth Gold 2012 Stan Tidwell 2011 Bob Moulton 2010 Rick Harrison 2009 Rosemary Hipps 2008 Sam Shocket 2007 Brad Rixmann 2006 Tim Collier 2005 Tom Brown 2004 Ken Smith 2003 Morgan Jones 2002 NPA Board of Directors 2001 Janis Feazelle 2000 Jackie Kinlaw 1999 Steve Krupnik 1999 Gary Grubs 1997 Denis Hooker 1996 Skip Christiansen

Industry Partner of the Year

Brent Rabiner accepts the 2013 Charles R. Jones Award on behalf of his father, Craig Rabiner, Kohn’s Loan, Limo, OH. Pictured left to right: Kevin Prochaska, NPA President; Brent Rabiner, Kohn’s Loan, Lima, OH; Ric Blum, Ohio Loan, Dayton, OH; Dave Adelman, Atlanta, GA; Sam Shocket, King’s Jewelry & Loan, Los Angeles, CA; Ed Bean, Suffolk Jewelers, Boston, MA.

History of the Charles R. Jones Lifetime Achievement Award

Charles R. Jones served two terms as NPA president and considered the members of the association his extended family. He traveled around the country to get to know pawnbrokers on a more personal level, learning as much as he could about their needs and concerns. In recognition of his efforts on behalf of the pawn industry, Charles received the NPA Lifetime Achievement Award in June of 1997. Sadly, Charles passed away in October of that same year. His history of service and devotion to the industry was further honored by changing the name of the Lifetime Achievement Award to the Charles R. Jones Lifetime Achievement Award. This award now recognizes pawnbrokers who have exemplified a similar devotion to the NPA and the needs of its membership.

2013 Stuller 2012 National Shooting Sports Foundation (NSSF) 2011 Union Life & Casualty 2010 PawnMaster® (by Data Age) 2009 M&M Merchandisers 2008 Mid-States Recycling & Refining 2007 Geib Refining 2006 Pawnshop Consulting Group 2005 GlobalPawn.com 2004 Fast Tax 2003 Burrell Printing Co. 2002 ZIMBAL’S 2001 M&M Merchandisers 2000 Wexler Insurance Agency 1999 Burrell Printing Co. 1998 Bluestone Trading Co. 1997 Jeff Webber Refining 1996 Burrell Printing Co.

Charles R Jones Lifetime Achievement Award Craig Rabiner Dave Adelman Ed Bean Fran Bishop Harold Dambrot Paul Edge Charles R. Jones Brian Smith Bob Stogne

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community involvement

Creating Music

NPA Musical Instrument Gift Day Gives a School Band Program a Jump Start

www.GiftDay.org

The NPA celebrated its 5th annual Musical Instrument Gift Day this past December. Each year during this event NPA members work together to provide musical instruments to wounded veterans, underprivileged youth, and fledgling school band programs. The Mr. Holland’s Opus Foundation helped the NPA identify the band program at Lee High School in Huntsville, AL as the 2013 recipient of our donation efforts. To find out more about the program, visit GiftDay.org. NPA members met the need by donating $1,925.50 in addition to musical instruments. The Mr. Holland’s Opus Foundation will contribute approximately $10,000 for the school use to purchase instruments. An official donation ceremony will be held this spring. NPA will continue to work with The Mr. Holland’s Opus Foundation. Members can give at any time to support the efforts to bring music to Lee High School in Huntsville, AL by visiting GiftDay.org.

Thank You! The NPA would like to thank the following donors for their commitment to inspiring creativity and expression through playing music: • Fran Bishop • Brian Anderson • Thomas Hand IV • Ben Levinson • Steve Rogers • Steve Foglesong

• Clifford Zlotnik • Christopher McCarthy • Kathleen Pierce • Dana and Juergen Meinecke

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Community relations

FBL Scholarships Available!

Support your community through the FBL scholarship program

Do you know students who deserve extra help to achieve their dreams? Nominate them for the FBL scholarship program, and they could win a $1000 scholarship to help them continue their education. Each year, NPA selects winners based on academic performance, community leadership, and written essay submissions. To find the application and guidelines, go to NationalPawnbrokers.org. The deadline for applications is April 25. FBL has awarded over $115,000 to deserving students. To support this cause, send your check to NPA PO Box 508, Keller, TX 76078 or call (817) 337-8830 with your credit card information. The NPA website has more information on the program. Jane Garris of Sylacauga Pawn Shop, Sylacauga, AL, presents an FBL scholarship award to Wesley Strong

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H -Tech

Precious Metals & Refinery

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member Spotlight

Biltmore Loan Arizona’s premier upscale collateral lender and buyer

National Pawnbroker magazine visited with David Goldstein, founder and owner of Biltmore Loan. David opened his first store in Scottsdale, AZ in 2011, and his most recent store in Chandler, AZ opened in January of this year. National Pawnbroker Magazine (NPM): Tell me about your background. David Goldstein (DG): All through high school and college I was in the collectibles and antiques business. Then, about 30 years ago I started in the wholesale diamond and retail jewelry business. Four years ago, I came up with an idea for an alternative lending business, which led to Biltmore Loan. NPM: What is your vision? DG: I see things differently than most. I wanted to create an upscale alternative lending establishment that was comfortable and private. There is nothing for sale in either of my stores. People come in and have their valuables assessed by experts in a comfortable, private setting. NPM: What type of marketing do you do? DG: We are unique in that we do a lot of advertising. One example is a spot I purchase on “Sonoran Living,” a local TV show. I bring in unique pieces and talk about their history and value. The spots cost me $10,000 per month, but I have built my business around it. I also do print ads and a column in the newspaper called, “What is it Worth?”

Biltmore Lone’s staff, left to right: Marc Israel; Harriet Bernick, CEO; Erin Kalmbach; David Goldstein; and Kylie Roswell

NPM: What is your business philosophy? DG: I really believe it isn’t about the rates. It is about the experience and the expertise. Borrowing money or selling something valuable is not an easy thing to do. We understand completely and will do everything in our power to make the experience as pleasant, pain-free, and professional as possible. We know that the customer’s trust is our most important asset. The business is built around five core principles: 1. Tell the truth 2. Make it easy 3. Make it fun 4. Make a difference 5. If there’s a problem, tell me and I’ll fix it Whether or not I can buy the item or give a loan, I want the customers to walk out and say they had a great experience. NPM: How do you show customers that you’re an expert? DG: People want to feel like they are selling to an expert. We do research on the items that are brought to us and show what we find to the customer. We show them where we get our information on the value of an item. It doesn’t matter what they have, we’ll find a value for it.

(Continues on page 54)

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business sense

MJSA

Your Connection to Jewelry Supplies & Services

Expo New York

The largest and oldest trade show dedicated to professional excellence in jewelry making and design, Expo will return to the Hilton New York March 9-11, 2014. Walk in, and you’ll find aisle after aisle full of the latest bench tools, laser welders, alloys, component parts—basically, everything you need to make and sell exceptional jewelry. In addition, some of the most reliable and trustworthy service providers found anywhere exhibit at the show. Another reason for Expo’s popularity is its educational program, which offers face-to-face time with world-class experts on everything from 2014 fashion trends to responsible sourcing practices and manufacturing techniques. This year’s show will feature the launch of MJSA Journal Live. This two-day event will present live bench-work demos and provide the opportunity to discuss all aspects of jewelry with the experts and authors featured in MJSA’s award-winning monthly magazine. The best jewelry-making tools, supplies, and services, and the knowledge to use them well – that’s MJSA Expo New York.

Buyer’s Guide

When the first MJSA Buyer’s Guide appeared in 1927, it earned instant renown as a go-to resource. Today, the Guide is available in print and online editions, both of which provide comprehensive listings of jewelry-making tool, supply, and service providers, along with a wealth of information about how to evaluate purchasing options. And it’s still renowned for its breadth and depth, and the fact that, all of the listed MJSA member vendors agree to abide by the MJSA Code of Ethics. Free copies of the 2014 Guide were mailed to all NPA members in January.

Free copies of the 2014 Guide were mailed to all NPA members in January.

Jeweler’s Bench Conference & Trade Show

MJSA’s latest event debuted in September 2013 and returns to the Sheraton Providence Airport Hotel in Providence, Rhode Island, September 13-14, 2014. This show is for anyone engaged in bench work (including repair and restoration) who wants to discover the latest tools, supplies, services, and techniques to turn an operation into a lean and fit super shop.

NPA members have the opportunity to subscribe to the Journal for the half-price annual rate of $23.50. NPA members can also request a free three-month trial subscription. MJSA Journal

The association’s award-winning monthly magazine keeps readers abreast of the latest tools, technologies, and services available for jewelry making, repair, and design. NPA members have the opportunity to subscribe to the Journal for the half-price annual rate of $23.50. NPA members can also request a free threemonth trial subscription. MJSA is proud to be an Industry Partner member of NPA. To learn more, visit MJSA.org, e-mail info@mjsa.org, or call (800) 444-MJSA (6572).

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Click together components Solitaire Connections™

• Interchangeable components “click” together for instant try on • Hundreds of possible design options • 1 head (10 styles), 10 collars and 10 shanks included • User-friendly, three-tier rotating display • Delivers a tangible new world of creativity and customer involvement Item number: 651048

When your customers have created and tried on their own “designs,” you can order the components in their metal of choice, solder them together and set the stone. Don’t have the time or a bench jeweler on site? Let Stuller do the assembly for you.

For more information on this selling system or to place an order, call us at 800-877-7777 or visit stuller.com/solitaireconnections.

Stuller FP.indd 23

1/28/14 7:20 AM

Dear Pawnshop Owner, How much money would you be willing to take out of your pocket, lay down on a table, and walk away from forever? Better yet, how much money would you allow someone else to keep, when it is money that is rightfully yours? Would you sell your pawn business for less than it is truly worth? My name is Steve Stallcup, President of Stallcup Group. The primary goal of my company is to ensure that our clients never leave money on the table when selling their pawn business. When it comes to negotiating a sale, the only tactic that matters are numbers – detailed analysis-driven data that a buyer can’t negotiate against, because it’s fact. And when facts are presented to show the true value of your pawn business, more often than not the buyer’s initial offer is revealed to be far lower than what you deserve. With more than 17 closings comprised of 61 pawnshops for a combined total of more than $125M, we’ve put real money in the hands of owners just like you. Our proprietary financial modeling, fact-based analysis and years of industry experience level the playing field for our clients, and maximize the selling price of their business. Take a look at at a few examples below, and how we’ve achieved $250,000; $1M; $2M+ more than what buyers are offering our clients for their pawn business. That’s real profit that would have been left on the table if those owners hadn’t called us.

Stallcup Group’s Impact on Initial Sales Offers: EXAMPLE 1:

EXAMPLE 2:

3.2 million

EXAMPLE 3:

4.5 million

EXAMPLE 4:

5 million $

million

Examples shown represent the financial impact Stallcup Group achieved for the business owner from initial offer to final closing. Initial offer and final closing are not necessarily from the same buying entity. Examples are actual closings, and transaction details are withheld for confidentiality purposes.

If you’re in the market – or just weighing your options – to sell your business, I would appreciate a few minutes of your time. Our conversation will be completely confidential, and free of any obligation or risk. You can only sell your business once; make certain you are recieving the true value for your pawn business. At Stallcup Group, We’re On Your Side. Respectfully, Steve Stallcup President, Stallcup Group

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817.479.3880 STALLCUPGROUP.COM

1/28/14 7:31 AM

compliance

Important FinCEN Update, January 2014

Make sure you understand your obligations under the current rule

Following is updated information about pawnbrokersâ&#x20AC;&#x2122; obligations under the Financial Crimes Enforcement Network (FinCEN) AntiMoney Laundering Programs (AML) for Dealers in Precious Metals, Stones, or Jewels, published in June 2005. No substantive changes have been made to the rule since then, but the NPA has received reports from members suggesting that IRS field offices may be launching a new round of compliance audits targeting general AML regulations enforced by FinCEN for Money Service Businesses (MSB) and the precious metals dealers rule. The MSB regulations and the precious metals dealers rule are completely separate mandates. If the precious metals dealers rule applies to your business, it does not mean that you are an MSB. The rule generally imposes requirements to adopt, implement, monitor, and revise anti-moneylaundering policies. In addition, employees must be trained and re-trained as needed as dealers adjust their policies to address changes in moneylaundering risks to their businesses. The rule uses two thresholds: The dealer must have both bought $50,000 or 1 more in precious metals, precious gemstones, or jewelry from the general public, AND sold $50,000 or more of the same categories in the prior year. The $50,000 or more in purchases threshold does not apply to inventory acquired through pawn loan foreclosures, or to some trade-in trans actions. The 2 $50,000 in sales of covered goods applies whether the sale is to a member of the general public or a wholesaler such as a refinery. This $50,000 test applies to any sales of covered goods made in the year, even if they were purchased in a prior year. In other words, the same goods do not have to be purchased and sold in the same year for the dollar tests to be met.

Exceptions

The precious metals dealers rule contains several exceptions, two of which are directly applicable to pawnbrokers. There is a limited exemption for pawnbrokers 1 only for pawn-loan collateral when conducted on the pawn-licensed premises. Covered items that are taken in pawn, subsequently foreclosed on, and sold do not count against either of the two $50,000 thresholds. This exception applies only to pawn, not purchase transactions, and only when the acquisition and sale occur on the premises for which the business has a pawn license issued by a state or local government. Goods acquired and sold under non-pawn circumstances and at non-pawn-licensed loca tions remain subject to this ruleâ&#x20AC;&#x2122;s requirements. This means that if you opened a non-pawn loca tion during the height of the recent gold rush, purchased and sold $50,000 or more in covered goods, you must comply with the requirements described later in this article. There is an exception, published only in a Fin2 CEN general counselâ&#x20AC;&#x2122;s interpretation, which removes purchases and sales of silver from both of the $50,000 or more thresholds. (Continues page 58)

This means that if you opened a non-pawn location during the height of the recent gold rush, purchased and sold $50,000 or more in covered goods, you must comply with the requirements.

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2/5/14 11:37 AM

vendor Spotlight

White Pine Trading LLC, one of the world’s largest recycled diamond companies, provides a variety of services to the pawn industry in the U.S. and abroad. National Pawnbroker magazine spoke with industry veteran, Myles Schakler, Director of Sales. How does your sales model work? We conduct three types of diamond sales events and auctions: 1. Melee 2. Certified & Single Stone Diamonds 3. Jewelry Auctions Our melee and certified/single stone sales events and auctions are held every month, while our jewelry auctions are twice a year. We conduct these events in the most competitive diamond markets, including India, New York, Hong Kong, and Israel. We typically have 100 leading diamantaires at each event, so bidding is highly competitive. We are the only recycled diamond company actively holding sales events in India. What is different about this approach, and how does it benefit pawnbrokers? Auction houses run sales periodically. We conduct sales every few weeks, not to mention our daily brokerage, which give pawnbrokers a continuous opportunity to sell and attain the best possible prices. Furthermore, we expertly sort diamonds to achieve premiums upwards of 25 percent. We assess all goods prior to sale and place premium market prices on each lot and single stone. Consequently, our sellers go into our sales events with assessed prices in hand. We also cash advance to pawnbrokers who want immediate cash flow. Why are U.S. pawnbrokers moving toward this type of sales model? They understand that any platform providing competitive bidding with several aggressive industry buyers is more likely to translate into better market

prices. In addition, White Pine’s expertise at assorting diamonds in specific categories appeals to the specialized buyer who pays the absolute top market price for that assortment. This significantly raises the average you achieve overall versus selling one mixed lot. Our service component is no less important. We offer immediate cash advances on our clients’ diamonds at roughly 75 percent of the value we assess for sale. This offers them financial flexibility. Most importantly, our experts help to educate pawnbrokers on what the diamond industry is paying, thus helping our clients buy better stones from their own customers. How does White Pine’s sales model assure maximum returns to pawnbrokers? As a company that buys and sells its own diamonds, it’s in our best interest to achieve the highest prices. Through our platform, pawnbrokers sell their own diamonds right alongside White Pine’s. In other words, our vast network of global buyers helps both White Pine and its clients reap maximum returns. Our experts carefully analyze all goods sent to us. We sort the diamonds to better target specialty buyers who pay the highest prices. How diverse is White Pine’s global diamond buyer base? White Pine traded almost $100 million in diamonds in 2013, with more than 1,000 diamond wholesalers, traders, brokers, retailers and manufacturers actively buying from us. They specialize in everything from small melee diamonds to 5ct+ certified diamonds. How’s the feedback on your new cash advance program for pawnbrokers? Feedback has been great. Before the launch of our cash advance program, the two main issues pawnbrokers faced when submitting diamonds were lack of cash liquidity and frustration over the timing of their payments from dealers. Our program solves both. Contact Myles at (646) 758-0250, by email myles@ whitepinediamonds.com, and on the web www.whitepinesales.com

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ACHIEVE REAL

MARKET PRICES WHITE PINE DIAMOND SALES EVENTS STEP

WE EXPERTLY PRICE AND SORT YOUR DIAMONDS

YOUR DIAMONDS ARE SOLD AT OUR GLOBAL SALES EVENTS AND DAILY BROKERAGE

COMPETITIVE BIDDING ENSURES YOU GET PAID REAL MARKET PRICES

MARCH 3-7, MELEE & SINGLE STONE HONG KONG MARCH 24-26, MELEE NEW YORK MARCH 31– APRIL 2, SINGLE STONE NEW YORK APRIL 21-24, MELEE MUMBAI

sales@whitepinediamonds.com

www.whitepinesales.com 1/28/14 7:24 AM

Garrett is what they use. ÂŽ

Tim "Ringmaster" Saylor

George "KG" Wyant

Treasure is what they find. You may have seen Tim "Ringmaster" Saylor and George "KG" Wyant on TV. The stars of the reality detecting show "Diggers" are known to get a little crazy when they make an exciting discovery with their metal detectors.

But the boys from Montana are dead serious when it comes to the brand of detectors and pinpointers they trust: Garrett Metal Detectors. Powerful yet affordable. Made in America for 50 years!

G e n e r a t e n e w p r o f i t s w i t h G a r r e t t â&#x20AC;&#x2122;s p o w e r f u l y e t a f f o r d a b l e metal detectors. Sell or rent to anyone seeking adventure!

1.800.527.4011 (U.S. and Canada) 1.972.494.6151 (International)

Garrett_NP_fall_2013.indd 1 Garrett FP.indd 28

(Above) Some of Tim and George's impressive coin finds.

GarrettDetectors Channel

Garrett Metal Detectors

MADE IN THE USA

10/4/2013 2:39:24 PM 1/28/14 7:27 AM

business sense

Google AdWords Shift Your Marketing Budget to Google AdWords now

The argument against online advertising was, “My customers don’t use the internet to find me. I know this because I have their computers in my store.” While this may have been true, the mobile revolution has changed the way customers search for everything. The shift from desktop or laptop computers to mobile is rapid and escalating. For the first time in history, the number of desktop computers being purchased in 2013 was overtaken by the number of mobile devices. The average rate for mobile traffic to a website, including both mobile phones and tablets, is typically 20 percent. However, in the pawn industry, customers are relying more heavily on mobile devices for browsing and searching.

The new argument for online advertising is, “My customers are using mobile phones to do everything online, including find businesses like mine.”

Enhanced Localization

Google has changed the way search works to favor local businesses over national results. This is good news for small-to-medium sized businesses that operate in a city or region, as they will have a natural tendency to display in related searches. Google’s goal has always been to display the most relevant results for a specific keyword search. The company now knows the physical location of a mobile device and details about a consumer’s search habits. This information allows Google to display more customized results. It’s likely that a person searching for “pawn shop” in 2,7,35,55

Emmett Murphy 3CLicK Media

(Continues on page 56)

Based on a sampling of approximately 400,000 visits to pawn industry websites across the U.S, the average percent of visits from mobile devices has grown.

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2/5/14 11:41 AM

N y J th

A a a

A th c b

T th

THE MIRAGE, LAS VEGAS | JULY 8-10, 2014

M s n a a

WHAT IS PAWN EXPO?

Pawn Expo is the only national convention and trade show for the pawn industry. Attendees learn new ways to strengthen their businesses, connect with fellow pawnbrokers, and do business at the trade show featuring over 120 different companies. Leave energized and equipped with the latest industry knowledge.

PAWN EXPO HIGHLIGHTS Networking Session – This event connects attendees at the very beginning of the convention. It is a must for first-time attendees and anyone interested in networking at Pawn Expo.

Annual Membership Meeting – Enjoy breakfast and find out the latest NPA news, including information about several new initiatives.

Opening Session Keynote – Larry Winget, the Pitbull of Personal Development® and New York Times bestselling author, will deliver the keynote address, “The Cold, Hard, Ugly Truth About Success”.

Trade Show – The Pawn Expo Trade Show is the largest and most comprehensive trade show in the pawn industry. Spanning two days, this is the perfect place to find the products and services vital to the success of your business.

Pawnbroker Peer Roundtables – The pawnbroker sitting next to you is one of your greatest resources. At the roundtables, attendees have the opportunity to discuss current pawn topics with their peers and learn best practices from one another.

Closing Reception – As the last official convention event, this is the ideal way to spend your final evening in Las Vegas.

Welcome Reception – As the premier social event of the convention, this reception boasts the highest attendance and is one of the best opportunities you will have to enjoy a fun evening with your fellow attendees.

Make money at Pawn Expo. Bring your diamonds to sell in the privacy of the secure Diamond District trading room. Here you can negotiate the best deal with any vendor you choose. No appointments required.

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WHAT’S NEW IN 2014?

WHY SHOULD I ATTEND?

NPA PAC Event - Michael Jackson ONE – Support the NPA PAC with your contribution, and enjoy a performance of Cirque du Soleil’s Michael Jackson ONE. By contributing to the NPA PAC, you help shape the laws that influence your business and our industry. Additional Ticket Required

Learn during educational sessions designed to give you the tools to strengthen your business and overcome challenges facing pawnbrokers today.

Awards Luncheon – Join us in recognizing our scholarship and annual award recipients, including the 2014 Pawnbroker of the Year and Industry Partner of the Year.

Connect with pawnbrokers from across the U.S. and the world and share your experiences. The most important resource could be the person next to you.

Ask the Expert Sessions – We all encounter things in our businesses that leave us with questions that we need expert advice on. This is your chance to directly “ask the expert” about a variety of topics affecting your business today. Trade Show Breakfast - Enjoy breakfast on the trade show floor so that you can start the day right, visiting with the exhibitors.

Do business at the trade show, where you can visit over 120 vendors who understand your needs, and represent goods and services that pawnbrokers use everyday such as security, software, jewelry tools, and much more.

MSB Compliance for Check Cashers - This seminar is designed specifically for MSBs, with all you need to know about compliance. Learn new registration requirements, training guidelines, how to spot suspicious activity, how to fill out various forms, how to conduct internal monitoring, and much more. Additional Registration Required

BUILDING THE NEW NPA NPA is poised at a new and exciting threshold of greater opportunity.

Learn more at Pawn Expo

s is

Throughout 2014, NPA is working overtime to enhance and broaden the benefits and programs that the association provides to you, focusing on three key initiatives: Advocacy - representing your interests before elected public officials and agencies at all levels of government and telling them, the media, and other key stakeholders why the pawn industry is vitally important to our nation’s economic and social needs. Member Services – stepping up the way we serve you in an ever-changing business environment. Education – providing you, your staff, and your business new ways to broaden your knowledge and skills and to differentiate your business from those who do not meet our standards of customer service and excellence.

. e

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1/29/14 3:26 PM

SCHEDULE OF EVENTS MONDAY, JULY 7

TUESDAY, JULY 8

WEDNESDAY, JULY 9

THURSDAY, JULY 10

11:30 am – 6:30 pm Convention Registration

7:30 am – 5:00 pm Convention Registration

7:30 am – 4:00 pm Convention Registration

8:00 am – 12:00 pm Convention Registration

1:30 pm – 6:30 pm Diamond District

9:00 am — 10:00 am Opening Session

8:00 am — 9:30 am State Presidents Breakfast

2:00 pm – 4:30 pm MSB Compliance for Check Cashers

9:30 am — 5:30 pm Diamond District

8:30 am — 10:00 am Annual Membership Meeting and Breakfast

Additional Registration Required

5:30 pm – 7:00 pm Networking Reception

Schedu

le is su

bject to

10:15 am — 11:30 am General Session

10:15 am — 4:30 pm Education and Ask the Expert Sessions

11:45 am — 1:15 pm Awards Luncheon

12:30 pm — 2:00 pm Pawnbroker Luncheon

1:30 pm — 5:30 pm Trade Show

6:30 pm — 8:30 pm Welcome Reception

3:30 pm — 4:30 pm Trade Show Reception 6:00 pm — 9:00 pm NPA PAC Event – Michael Jackson ONE

change

9:30 am — 1:00 pm Trade Show 9:30 am — 10:30 am Trade Show Breakfast 1:15 pm — 4:00 pm Education Sessions and Pawnbroker Peer Roundtables 5:30 pm — 7:00 pm Closing Reception

Additional Ticket Required

EDUCATION SESSIONS Opening Session

Keynote Speaker Larry Winget The Cold, Hard, Ugly Truth About Success Larry offers a realistic and humorous approach for true success in business and our personal lives. In his presentation, he points out the actions that bring about failure and the specific things that we can do to bring more success. A full list of education sessions and speakers is available at pawnexpo.com.

ONLIN G LOCMAAL RKETIN ASK THE EXPERT SESSIONS

IDEN TI FAKFEYING S

VALUINGS COIN UNDE R S BODY TAND LANG ING UAGE

B GENREIDGING RATI THE ON G AP

N TIO GA ITI M TO SK HOWVE AN RI I SURVROBBERY D ARME

PAWNBR ROUNDOTKAER PEER BLES E

FEDERAL COMPLIANCE

NPA GOVERNMENT RELATIONS COMMITTEE

Questions? – (888) 808-7296 | pawnexpo.com PE section.indd 32

1/29/14 3:27 PM

SPONSORS

HOTEL INFORMATION Mirage Las Vegas

3400 Las Vegas Boulevard South | Las Vegas, NV 89109 Chic and comfy. Cotton-soft and urbanite stylish. This is your staging area for every Mirage adventure.

Pawn Expo 2014 Room Rate

$106 per night, plus applicable taxes. A resort fee of $22 per night is applicable at check-in and includes: in-room internet access; cardio center admission (does not include spa access); daily newspaper; unlimited local and toll-free calls, incoming fax, and notary services; up to 20 outgoing faxes; and airline boarding pass printing. Visit PawnExpo.com to make online reservations, or call Group Reservations at (800) 627-6667. Mention NPA/Pawn Expo 2014 to receive the group rate. The group rate is available through June 12, 2014, based on availability.

AIRFARE DISCOUNTS A 5% discount off the lowest applicable published fare is available to attendees that book travel with American Airlines. Online reservations can be made at AA.com using promotion code 5874DH. Phone reservations can be made by calling American Airlines at (800) 433-1790 from anywhere in the United States or Canada and referring to your promotion code. Please note that additional reservation charges apply for phone reservations. The discount is valid for travel between July 3, 2014 â&#x20AC;&#x201C; July 14, 2014.

Questions? â&#x20AC;&#x201C; (888) 808-7296 | pawnexpo.com PE section.indd 33

1/29/14 3:27 PM

Successful Multi-Store Operators run CompuPawn! The Brand to Trust. The Brand to Help you Grow. CompuPawn Pawnshop Client

Number of Stores

Years Using CompuPawn

Selling Price in the past 18 months

Mexico-based Client Colorado-based Client Texas-based Client Las Vegas-based Client

29 stores 17 stores 17 stores 11 stores

9 years 15+ years 20+ years 10 years

$ $ $ $

Totals

74 stores

47,500,000.00 46,000,000.00 42,000.000.00 34,500,000.00

SOLD SOLD SOLD SOLD

$171,000,000.00

CompuPawn stores are better run, better organized, more efficient, highly profitable, and SELL for MORE!! That’s just one reason to move to CompuPawn. Whether you want to sell your stores or keep them, CompuPawn has a proven track record of making our customer’s stores worth MORE! There must be a reason for that. Just ask Craig McCall, A CompuPawn customer for 10 years, who has sold a combined 23 Stores: “We have been able to successfully grow our stores and a key element in our growth has been using CompuPawn. We rely on them for data integrity, reporting and compliance at all levels. They continue to be our strategic partner and we value their 30 years of success in serving the pawn industry. We didn’t want our IT in the hands of any other software product. We considered other vendors, but we have chosen to use CompuPawn now and in the future” Our customers have spoken loud and clear, CompuPawn is more than a software system. CompuPawn is a brand that delivers multiple benefits. The CompuPawn brand enables our customers to achieve their business goals and objectives. In 2013, we will continue to work diligently and intelligently to make CompuPawn your primary business vendor and partner. Why wait? It’s time to grow. Invest in the future. Call CompuPawn today.

Pawnshop Software Made Easy

Call today! 866.545.9868

Call now and ask how to get CompuPawn for Free and receive a Complimentary demo.

Pawnshop

NPA 2013 Real Estate Style Ad.indd 1 CompuPawn ad.indd 34

Gold Pawn Shop

We Buy GOld

P A W N

1/8/2013 10:08:17 AM 1/28/14 7:26 AM

human resources

Social Media Monitoring in the Workplace Know Your Rights as an Employer

Do you know how much privacy your employees are entitled to? For example, if you feel employees are abusing their work privileges, is it legal to intercept emails or phone conversations to find out what they’re up to and confirm your suspicions? Can you ask potential job candidates for their Facebook profile log-on information? Here are some general guidelines that can help.

Screening

There has been coverage in the media about companies asking job candidates for their Facebook passwords as part of the employment screening process. Many of the employers who do this are in law enforcement and are on the lookout for potential illegal activity, but businesses have also been known to use this approach to get a better handle on who they are about to hire. Although there is no federal law prohibiting this, the Department of Justice considers it a crime to violate social media terms of service and enter these sites illegally. Asking an employee or candidate for their log-on information means you and that individual are both in direct violation of Facebook’s Terms of Service which states the following: “You will not solicit login information or access an account belonging to someone else” or “You will not share your password... let anyone else access your account, or do anything else that might jeopardize the security of your account.” Many states are also now looking to make this practice illegal. The Bottom Line: Simply asking for access to personal passwords is a clear privacy violation and is both offensive to the candidate and unethical. Employers and managers should also be careful they’re not accessing profile information to determine an employee’s religious, sexual, or political views. If it’s determined that you used this information to discriminate against an employee, you may be found in violation of equal employment opportunity and privacy rules.

Monitoring

A recent report by Gartner, a leading technology and research firm, suggests that by 2016, up to 60 percent of employers are expected to watch workers’ social media use for security breaches. Employers are typically on the lookout for unauthorized posting of proprietary company information–videos, documents, photos, etc. Currently, no specific laws govern the monitoring of an employee’s social media activity on a company’s computer. However, the U.S. National Labor Relations Act does address employee rights in regard to the use of social media and acceptable social media policy. There has also been a ruling against employers who fired workers for complaining on social media sites about their workplace conditions. The Bottom Line: Provide employees with a social media policy and be sure to include information about what you consider confidential and proprietary company information that should not be shared.

Intercepting

The Electronic Communications Privacy Act (ECPA) of 1986 prohibits the intentional interception of “any wire, oral or electronic communication,” but it does include a business use exemption that permits email and phone call monitoring. This exemption often comes under close scrutiny (Continues on page 55)

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550 South Hill St., #1329, Los Angeles, CA 90013 | Toll-free: 866.337.7464 Cell: 213.999.0237 | Fax: 213.622.6612 | E-mail: ashok@thetrendz.com Website: www.thetrendz.biz Member National Pawnbrokers Association Member California Pawnbrokers Association Trendz FP.indd 36

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GOVERNMENT RELATIONS

National Pawnbrokers Association Online Interstate Pawn Loans and Providers NPA Policy Statement, October 2013

Pawn loans are an important and trusted source of small-dollar, short-term, nonrecourse credit in the U.S. Fast, on-the-spot decisionmaking by pawnbrokers at brick-and-mortar stores across the country makes pawn loans available for emergencies that individuals, families, and small businesses experience. Traditionally, pawn loans are face-to-face transactions that are governed by numerous federal, state, and local laws. Recently, some providers have offered online interstate pawn loans in which the borrower and provider do not conduct business face-to-face, but rather negotiate the terms of the transaction via the Internet. Online interstate pawn loans may be more risky for consumers than traditional face-to-face pawn transactions if the consumer is not familiar with the Internet lender. Consumers dealing with online interstate pawn lenders should ask (a) where collateral will be stored, (b) how long it will take for their loan to be funded after the collateral reaches the lender, (c) how they can redeem their collateral and how long it may take to receive the collateral from the lender after redemption, and (d) whether the consumer protection laws of the state where the consumer resides will govern the pawn loan’s terms and conditions. The NPA’s code of ethics requires that members, among other things, comply with all federal, state, and local laws that apply to members’ businesses and their pawn transactions. Compliance responsibilities include licensure by state or local governments as a precondition of offering pawn transactions to residents of that state. Because of the NPA’s commitment to full compliance with applicable federal, state, and local laws, the NPA does not support, condone, or offer membership to providers offering interstate, Internet pawn transactions that: • Cannot demonstrate full compliance with federal consumer credit laws as well as with state and

local laws of the state in which the consumer resides • Do not hold a license to do business granted by the state or local government where the consumer initiates the transaction. • Circumvent federal, state, or local laws through the use of the Internet, off-shore credit providers, or partnerships with entities operating on fed eral Tribal Reservations. The NPA supports and offers membership to pawnbrokers offering online pawn transactions as long as the provider (a) has a license to extend credit in the state where the consumer resides and operates in full compliance with the laws of that state, and (b) offers pawn transactions only where it has a license to do business to consumers (i) who reside in the state that granted the license or (ii) who travel to that state in person for the purpose of completing the pawn transaction. Courts that have considered whether online credit providers must hold licenses in the state where the consumer resides uniformly have held that providers must hold licenses in that state, unless the consumer travels in person to the provider’s state for the purpose of completing the transaction. Providers who do not hold licenses in the state where the consumer resides should consider the likelihood that their loans will be considered illegal by that state’s authorities and subject to usury penalties and cease-and- desist orders, as recent actions by state attorneys general demonstrate.

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2/5/14 11:44 AM

feature article

Understanding the Hallmarks of France by Hallmark Research Institute

In past issues of National Pawnbroker magazine, we covered the important differences between hallmarks and trademarks, and highlighted what most believe to be one of the countries where hallmarking originated, Great Britain. In this issue, we will briefly examine the extensive historical hallmarking systems practiced by France. French marking of precious metals, which began in 1275 AD, was actually instituted before hallmarks were widely recognized in Great Britain. The first French hallmarks were organized in a system created by the local Goldsmith’s Guilds, found in most cities across France. By the late fourteenth century the marks were essentially comprised of a maker’s mark—the master goldsmith’s initials—and the town’s coat of arms. Through the 15th and early 16th centuries, these marks evolved to also incorporate the town’s initials. Marks for payment of royal taxes were introduced by edict in 1579.

Changes

The revolutionary uprisings from the late 1780’s into the 1790’s derailed the necessary assaying and hallmarking control mechanisms which had been established up to that point. Missing punches and subsequent abuse of what remained of the hallmarking practice forced French officials to radically redesign the marking system. Several forms of controls were attempted but it was not until 1798 that, by decree, punches were to be issued to the assay offices by the Paris Mint, and all articles of precious metal were required to be stamped with three hallmarks—a maker’s mark, a guarantee hallmark, and a standard mark. Changes to the system’s basic hallmarking imagery were revised in 1809, 1819, and again in 1838 and have essentially remained the recognized imagery of French hallmarks to this day.

Simple Yet Complex

The key to French hallmarks is understanding that, though their hallmarks are generally simple in appearance, there is a complexity to their methodology and marking that can provide one with extensively more information if read correctly. Generally, there will be a single hallmark that establishes the metal and fineness accompanied by a lozenge-shaped mark known as the maker’s mark. Maker’s marks to this day are generally comprised of two initials separated by a symbol. This combination is unique to each maker. There is no single comprehensive resource to identify all of these makers, though there have been many books through the ages that list the current makers in a given period and region.

Silver

France is famous for its fine works in silver. For over 200 years, it recognized only two silver fineness standards, 950 and 800. The framed Minerva head hallmark indicated the item was fire assayed and fully guaranteed the metal fineness, depending on the standard, where as a boar’s head or crab hallmark was used to indicate that the piece was only tested by touchstone and therefore only guaranteed a minimum fineness of 800. By maintaining a first standard of 950, every imported item of sterling that ranged from 925 to even 830 had to be legally marked at the next lowest standard. This meant they were marked and sold as 800 silver. This is an excellent example of regulations that protected domestic manufacturers.

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A French hallmark with no frame indicates the item was tested by the touchstone method, while hallmarks in a geometric frame indicate testing by cupellation (fire assay).

Gold

French eagle hallmarks have long been famous amongst collectors as representing the lowest gold standard in France,18 karat. Responding to the economic demands of international trade in 1994, France introduced two new lower standards, 14 karat (a shell shaped hallmark) and 9 karat (a clover leaf hallmark).

Platinum

Since 1912, the mark for the single standard of 950 platinum has been a dog’s head facing right. An item that is stamped with the dog and eagle’s heads together indicates the item is of mixed platinum and gold. Their orientation indicates the percentage of each metal within the piece.

About Hallmark Research Institute The Hallmark Research Institute (HRI) was founded by three well-known experts and educators in the area of estate and contemporary jewelry, appraising, numismatics, and international hallmarks. This Institute is not a brick and mortar location but travels globally for hallmark research. It is renowned for the production and presentation of a series of acclaimed dynamic visual lectures and hands-on workshops on precious metal hallmarks. In 2009, HRI completed and published the first volume in a series of works on its research into world hallmarks. Currently, HRI is gathering information for the next volumes while continuing to conduct presentations to public and industry professionals. The goals of HRI are to establish corroboration with international professionals and assay offices; gather accurate hallmark information and images; disseminate information globally through published works; and further the understanding and demand for precious metal assay and hallmarking worldwide. Support for these projects is through the sales of their book, lectures, and donations. For more information, visit Hallmark Research.com.

Links

There are two exceptional weight and length marking methods used for linked items such as bracelets and chains. By marking the tongue of the clasp or end link of a bracelet, the original weight of the item within one gram, or the length of a chain within a range, can be determined. To professional dealers and serious collectors this is very important as it might convey any alteration done since the original assay. Historically, French hallmarks verify origin and standard when observed on jewelry and silver, and uphold the value. Hallmarked fine French jewelry of the Edwardian and Art Deco periods are always sought after by dealers and collectors and, when created by an important maker, commands a premium price. We have merely touched the surface of the French Hallmark. You can learn more about French hallmarking in World Hallmarks–Vol.I– Europe, 19th–21st Centuries. Visit Hallmark Research.com for more information.

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State News

State Association Updates What’s going on across the Country

Alabama

Manera Saloom-Branstetter President Alabama Pawnbrokers Association manera@best-pawn.com October 27-28, 2013, Alabama Pawnbrokers Association (APA) members met in Birmingham to discuss pending issues facing our industry, listen to informative speakers, and network. Our speakers included experts on pearl grading and identification, counterfeiting in retail crime, and digital and social media. The Alabama State Banking Department sent a report on their annual audits, and the ATF generously gave us time to ask questions about compliance. Fran Bishop and Mike Weeks, APA’s lobbyist, led an informative session about pending legislation, both local and national. It is important that individuals support their regional pawnbrokers associations as well as the NPA, and stay involved in the legislative work that will continue to shape our industry. At the state level, there are bills to watch, including proposed amendments to the Alabama Pawn Shop Act. They may not make it on the agenda for the 2014 calendar year, but they are coming at some point in the future. Make your plans to attend the Dixie Educational Conference & Trade Show. It will be held March 17-19, 2014 in New Orleans. Do miss it!

Arkansas

Tim Collier, President Arkansas Pawnbrokers Association hogtim@windstream.net This past September, the Arkansas Pawnbrokers Association held its annual meeting in conjunction with a trade show and educational conference for the first time in over 10 years. The show was held at the Clarion Resort on Lake Hamilton in Hot Springs, Arkansas, September 20-22, 2013. Over 80 pawnbrokers from all corners

of the state came to attend seminars and visit with more than 20 vendors at the trade show. Attendees mingled with vendors at the opening reception and enjoyed four different training sessions presented by ATF, gold refiners, and sales and management experts. The dinner on Saturday evening culminated with the election of three new members to the association’s board of directors.

Make your plans to attend the Dixie Educational Conference & Trade Show. It will be held March 17-19, 2014 in New Orleans. Do miss it! Moving forward, an education conference will be held in 2014. The conference will have a trade show every other year beginning in 2015.

Florida

Tom Howard, President Florida Pawnbrokers Association thoward@wwjpawn.com The Florida Pawnbrokers Association (FPA) made great strides last year, and we are looking forward to an even more productive 2014. We had our board meeting in December and our agenda was full. We were very fortunate to have Dana Meinecke, NPA Executive Director, join us. She gave us valuable insight about how the state and national associations can work together. FPA members discussed the possibility of having our own state convention and we hope to be able to accomplish that soon. Until then the Dixie Educational Conference & Trade Show, put on by the Alabama, Arkansas, Mississippi, and Louisiana pawnbrokers associations, has extended an invitation to all FPA Members to attend their conference, held March 17-19, 2014 in New Orleans.

(Continues on page 44)

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Website/

business sense

Our Little Secret The 10-80-10 Loss Prevention Rule

As most of you know, pawnbrokers can keep a secret. If you donâ&#x20AC;&#x2122;t believe me, ask a pawnbroker what their outstanding loan balance or customer pick up rate is and you will see the best poker face in the country. Unfortunately, most pawnbrokers also keep a secret when it comes to how much their store(s) loses to internal and external theft. Often, they are either unwilling to accept the fact that a trusted employee is stealing from them or feel they do not need a loss prevention program to deter external theft such as shoplifting, burglaries, and armed robberies. The Association of Certified Fraud Examiners (ACFE) estimates that small businesses suffer higher theft losses than large businesses. The median loss for a small U.S. business averages $150,000, compared to only $80,000 for a large U.S. business.[1]

Here are some basic loss prevention philosophies that can help you reduce, and in most cases prevent, theft in your stores.

The 10-80-10 Loss Prevention Rule

The 10-80-10 loss prevention rule has been around for almost as long as the pawn business itself. It is an easy rule to understand and has been used to explain other business functions such as customer service, leadership, and budgeting. The rule states that 10 percent of the total population will never steal no matter what their situation or opportunity. Think of them as the saints. Then there is 10 percent of the population who, no matter what you do, will always be thinking of a ways to steal from you. Think of them as people in organized crime. That leaves 80 percent of the population who will steal if given The 10-80-10 Loss Prevention Rule the right opportunity and circumstances and if they can get away with it. This group is where most 10% loss prevention programs need Organized to be focused. By reducing the Crime opportunity for that 80 percent, 10 % you reduce the likelihood that Saints they will steal from your store.

80%

Depends on the Circumstances

Tony Gallo Senior Director, Sapphire Protection Tony Gallo is the Senior Director of Sapphire Protection (sapphireprotection.com) and has over 30 years experience in the loss prevention, audit, safety, and risk/emergency management fields. Contact Tony at tony@ sapphireprotection.com and follow him on Twitter at @SapphireProtect.

Reduce the Opportunities

You can reduce theft opportunities with basic loss prevention programs such as separation of operational duties.

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business sense A good example of separating responsibilities is to never assign the same person the same job of counting your jewelry or cash at closing or opening. Does the same person review your loans at the end of the day to make sure they are in order? Then it is time to change your policy and have your staff rotate through the assignment. When it comes to reducing external theft opportunities first look at your store through the eyes of a thief. Are your cameras looking at the right area of your sales floor or back room? If you have fake cameras up, take them down. Trust me, a thief knows what a real camera looks like and by having cameras up that look like they were installed in the 1980’s, or worse having video cables hanging from the back of the camera that are not connected to anything, you are sending a clear signal to the thief that security is not your top priority.

Make a Plan

In spite of the best preparations, every business will eventually fall victim to some form of internal or external theft. This means that every business should have a written loss prevention plan detailing how to reduce theft exposure. Your basic loss prevention plan needs to include the following: 4 Internal theft reduction policies and procedures • Who counts the cash? • Who reviews the loans? • Who counts the jewelry? 4 External theft reduction policies and procedures • What do you do if you see a shoplifter? • What do you do during an armed robbery? • Who makes sure the security equipment is fully operational? If you do not have a written plan, you do not have a plan. Also, without a written plan you do not have a plan that can be defended during a civil lawsuit or criminal case. Now for the good news: you probably do not have many of the people in the 10 percent categories working for you or visiting your store. A solid loss prevention program that addresses 80 percent of the population, administered correctly, will greatly reduce losses in your store and make you more profitable. Isn’t that the goal of any business?

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[1] http://www.acfe.com/uploadedFiles/ACFE_Website/ Content/rttn/2012-report-to-nations.pdf 800.225.2984 Toll Free www.rslc.net/jewelry/pawn.html Winter 2014 | National Pawnbrokers Association | 43

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State News

(From page 41)

State Association Updates FPA’s lobbyist informed me that he spoke with the head of Florida’s Division of Consumer Services about the speaker’s office wanting new language on pawn store forms. We are not sure exactly what they want to change, but we are investigating it. If they do decide to open Chapter 539 we will keep everybody informed on the FPA web page. Make sure that you check out the FPA web site. It is your place to go for information on anything going on in Florida! Feel free to contact me or any of the board members with any questions or problems.

Illinois

Kelly J Swisher, President Illinois Pawnbrokers Association arlingtonloan@sbcglobal.net As the new president of the Illinois Pawnbrokers Association, I am honored to be taking the reins of such a great association. Our past president, David Schoeneman, chose not to run for re-election. He and his wife Carmencita, our treasurer, have done an excellent job of leading our growth and maintaining a strong and active association. I will do my best to continue building on this great foundation. The issue of Internet pawn is being considered by the Illinois Department of Financial and Professional Regulation. Currently, Illinois does not allow Internet pawns to originate from within the state.

The issue of Internet pawn is being considered by the Illinois Department of Financial and Professional Regulation. Currently, Illinois does not allow Internet pawns to originate from within the state. When our Board of Directors was asked to evaluate the matter, the majority decided it was not in the best interest of our members. It was

not a unanimous decision, however. In today’s Internet fueled society, I think we can all agree that Internet pawn will be part of our businesses’ fabric. How successful or pervasive it will be is yet to be seen. In 2014, we will resume our push for pawn records to be exempt from the Freedom of Information Act. We will also continue to push for more regulations for gold buyers. The State of Illinois began issuing its citizens concealed carry permits in January. It has been a long and bitter fight for both sides of this emotional issue. Regardless of your politics, concealed carry is here, and we must be mindful of the fact that anyone who walks through our door may or may not be lawfully carrying a gun. Now is a great time to review your store security procedures. Also, discuss whether or not you are going to permit your employees to carry on the job. Speak to your insurance company and understand your liability. Let’s make 2014 the safest and most profitable year yet!

Indiana

Greg Engstrom, President Indiana Pawnbrokers Association gregengstrom@hotmail.com The Indiana Pawnbrokers Association (IPA) is proud to announce that the First Annual Pawnbroker Boot Camp was held in Indianapolis in November. We had 54 attendees from 13 states. This event was created to train front-line pawn clerks about topics that they deal with every day. The response was overwhelming. The attendees received lots of tips, tools, rules, role playing, and hands-on lab time. Most indicated that they learned as much in three days as they had in their experience-based learning to date. Attendees were treated with their own quality loupe, tweezers, grading tray, and five pound notebook. This event is scheduled for the same time, at the same hotel in 2014: Pawn Boot Camp 101, November 11-13, 2014 Indianapolis, Indiana. Visit pawnbrokerbootcamp.org.com for more information. (Continues on page 47)

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State News

(From page 44)

State Association Updates The 23rd Annual Midwest Pawn Convention will be held May 16-18, 2014 in Greater Nashville, TN. There will be more top-notch seminars than ever before, so make your plans now to attend! For More information visit midwestpawnconvention. org or contact Ron Stempkowski at (219) 261-3713 or ron@indianapawnbrokers.org.

The 23rd Annual Midwest Pawn Convention will be held May 16-18, 2014 in Greater Nashville, TN. There is a possibility we will be holding a diamond grading class in October in Indianapolis. We’ll get details out as soon as we have them. Indiana has new state statutes that will help law enforcement track items that may not make their way into traditional channels and eliminate hotel gold buying operations in Indiana. These statutes require the following: • Registration (state and local) of all gold buyers (cash-for-gold stores) • A 10-day holding period on all jewelry (including pawn stores) • Permanent locations for all gold buyers This statute is the result of a three-year effort by the IPA to support legislation introduced by Rep. Gail Riecken D-Evansville. The statute accomplishes nearly all of our goals and we learned huge lessons about negotiation and political process. Indiana pawnbrokers stepped up to testify at the capitol and make contacts with their legislators. Even after language from an unrelated bill was added at the last moment, there was no opposition to the overall goal of the bill. The bill/statute can be found, in its entirety, by doing a web search for “Indiana HB1188 2013.” There is still growth in the number of pawn shops in Indiana, even with the end of the latest gold boom. The demand for money from Indiana customers is still as strong as ever. The middle class seems to be shrinking in the Hoosier state. Those at the top and bottom of the economic ladder are growing. No one offers the financial services (i.e., loans) that Indiana pawnbrokers are able to offer.

Kansas

Robin Tummons, President Kansas Pawnbrokers Association hsofstuartltd@yahoo.com During our October 2013 meeting new officers and board members were elected as follows: Steve Foglesong, Vice President Bart Kellum, Secretary/Treasurer Frank Aguliar, Board Member Dave Crume, Board Member Bruce Harris, Board Member Paul Novo-Gradac, Board Member Sam Spivey, Board Member Jeff Tummons, Board Member I remain president of the association. We hope everyone had a busy holiday season and will have a prosperous and healthy 2014.

New York

Eric Modell, President Collateral Loanbrokers Association of New York eric@modellfinancial.com In New York City, the end of 2013 was marked with the unfortunate introduction of new legislation requiring electronic data reporting to local law enforcement. The bill was signed into law as the mayor was leaving office. This new law requires that all pawnbrokers and second-hand dealers maintain electronic records (including photographs) and submit specific information pertaining to the items involved in all pawns, buys, redemptions, and sales. Additional information on the customer can be requested by the police commissioner. All operators should be compliant on or before April 30, 2014. The Collateral Loanbrokers Association of New York (CLANY) believes that this law is unconstitutional and is taking the action to challenge it. With greatly appreciated assistance from the NPA Government Relations Committee, CLANY is optimistic that our efforts will be successful. So far in 2014, more than seven bills have been introduced in the state legislature, and CLANY is prepared to challenge certain bills, support others, and simultaneously seek to achieve success with (Continues on page 50 )

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ign, fonts etc. Feel free to choose other graphics if you think they k better.

Do You Know? Gold KARAT is a measure of finenessâ&#x20AC;&#x201D;24 karat is fine gold. One karat equals 1/24 (.0417). Thus, 14 karat gold is 14/24 fine gold and the balance (10/24) alloy. The usual alloy metals are silver, copper, and zinc. Nickel is used in white gold. COLORS OF GOLD Yellow, green, red, and white gold are produced by variations in the alloy used. Silver and zinc tend to give a green color; copper, red; and nickel, white.

GOLD FILLED is made by joining a layer (or layers) of gold alloy to a base metal alloy and then rolling or drawing to the thickness required.

ROLLED GOLD PLATE is the same as gold filled, but of lower quality.

Silver

STERLING SILVER is 925/1000 (92 1/2%) fine silver and 75/1000 (7 1/2 %) copper.

COMMERCIAL SILVER is a term applied to silver that is 999 fine or higher.

COIN SILVER is 900/1000 (90%) fine silver and the balance copper. The same alloy is used in U.S. silver coins.

FOREIGN SILVERWARE contains varying percentages of silver. In some cases the fineness is as low as 700/1000.

GOLD ELECTROPLATE is usually made by electrolytically depositing fine gold on base metal.

SILVER PLATED WARE is made by electroplating fine silver on a base metal alloy, usually nickel or Britannia metal but sometimes brass or copper.

GOLD SOLDERS are usually 2 to 4 karats less than the gold on which they are used.

SHEFFIELD PLATE (original) was made by bonding sheet silver to copper, rolling, and manufacturing into hollow-ware. Imitations are made by electroplating silver on copper.

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Other NICKEL SILVER is a composition of nickel, copper, and zinc. However, it contains no silver. GERMAN SILVER is a misleading name. It is the same as nickel silver and contains no silver. BRITANNIA METAL is a composition of tin, copper, and antimony.

PEWTER (original) was primarily a lead alloy. It is now made in a tin, copper, antimony composition similar to Britannia metal.

HIGH BRASSES run from 55% copper in the extruded brass to 70% copper in the deep drawing brass, with the balance being zinc.

LOW BRASSES contain 80% or more copper, with the balance being zinc.

Scale A PENNYWEIGHT is the twentieth part of a troy ounce. The name originally applied to the weight of an Anglo-Norman penny.

GRAIN originally meant the weight of a grain of wheat. It was later standardized for trading purposes but is little used now. Most weight today is given in ounces and decimal parts or in pennyweights and decimal parts.

AN OUNCE (troy) is about 10 percent heavier than the common avoirdupois ounce. There are 14.583 ounces troy in an avoirdupois pound.

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State News

(From page 47)

State Association Updates our own proposals. All New York State pawn store operators are invited to join CLANY and assist in our efforts. The greater our voice, the greater our chance of success. Join CLANY today!

of police, to the sheriff of the county in which the place of business is located: (1) A description of all property pledged with or purchased by the licensee;

In New York City, the end of 2013 was marked with the unfortunate introduction of new legislation requiring electronic data reporting to local law enforcement. Ohio

Lou Tansky, President Ohio Pawnbrokers Association lou@unclebenspawnshop.com We have received word of numerous incidents where police are ordering pawnbrokers to provide information in daily reports in excess of what is required by the Ohio Revised Code (ORC). In some cases, police have been giving our members false information regarding their reporting requirements including numerous claims by law enforcement that the law has been changed regarding what pawnbrokers must report. To be clear, no change in reporting requirements has occurred. In these cases, we believe the police were fully aware this information was inaccurate. This behavior is not only deceptive and intended to intimidate, it is quite possibly a violation of the pawnbrokerâ&#x20AC;&#x2122;s rights. The Ohio Pawnbrokers Association (OPA) continues to support you in these efforts. While we cannot act as your legal representative, the OPA does have legal counsel available to assist with suggestions to solve any disputes you may have with law enforcement. Additionally, we will continue to communicate with law enforcement to educate them on the reporting requirements under ORC 4727. Ohio Revised Code Chapter 4727.09 reads as follows: (A) A person licensed as a pawnbroker shall, every day, furnish the following information to the chief of police of the municipal corpo ration or township in which the licenseeâ&#x20AC;&#x2122;s place of business is located or, if the place of business is not located within a municipal corporation or a township that has a chief

(2) The number of the pawn or purchase form the licensee used to document the pledge or purchase. If any law enforcement agency attempts to coerce you into providing any information other than that which is required with your daily reports, please inform me immediately. As a reminder, you should always cooperate fully with law enforcement by providing any information they request in an open and ongoing investigation and direct requests for information. We are in the process of arranging continuing education programs thru May 2014. While the OPA has provided many varied and interesting topics, we are always looking for new and exciting seminars to present. Any ideas for topics is welcome. As always, you are encouraged to call or email me or any of the officers at any time we can be of help.

South Caroli na

Janis Feazelle, President South Carolina Pawnbrokers Association pawnpeople@aol.com SC is gearing up for another round of Legislative sessions. However with the latest change in the current administration for the Department of Consumer Affairs, we have been able to come to agreements on both sides for initial change in the law that will benefit and prevent unnecessary regulation hardship. I will keep membership posted on the progress once a bill has been filed. Watch for information on the 2014 Southeast Regional Tradeshow & Convention, to be hosted this year by South Carolina. Make this year the year for growth and knowledge by attending the most important event in the region for pawnbrokers.

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Computer

Passwords Not that long ago, our social security number was our primary means of official identification. In today’s world, we have passwords, and lots of them! Over 60% of Americans visit at least 10 sites regularly on which they are required to sign in with a user name and password.

Passwords

in History

• The Roman military developed a careful procedure for circulating daily watchwords known as “signa” to prevent infiltration by enemy soldiers. • The first passwords for a computer system were most likely used in the 1960s at MIT to ration scarce computing time. • The MIT system saw what may be the first-ever password database leak in 1965 when a bug sent the file to a public printer, requiring administrators to manually reset every password.

Good Password

Hygiene

• Change your password at least once every six months, and more often for your most sensitive accounts or after you’ve used a network you don’t trust. Change your password immediately if you learn the site it’s used to access has been breached.

Easy to

Remember

Use a pass phrase instead of a password. A pass phrase is a short sentence that is easy for you to remember. It describes something about you and your life. For example the pass phrase might be, “I have worked for the National Pawnbrokers Association since 2010.” Pick the first letter from every word in that phrase and make sure you include upper and lower case letters as appropriate. That would give you “IhwftNPAs2010”. Consider replacing your “I” with a “!”, and it becomes even harder to crack!

• When signing on to websites, try to use a login URL that begins with “https.”

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Cracking

Facts

Cracking

A six-letter password in lowercase text takes a hacker just ten minutes to crack. The most common length of a password is six letters.

The average computer user has seven passwords shared across 25 different accounts that need passwords. Nearly 75% of users have fallen victim to some sort of cybercrime. Most Common Passwords: 123456 123456789 password iloveyou

princess rockyou abc123

Numbers

76% of network intrusions (breaches) in 2012 involved weak or stolen passwords.

8.2 billion Average number of possible passwords combinations per second that can be run on a single Visual Processing Unit (VPU) costing around $600 3,108 terabytes Disk space needed to store a table of every possible 10-character password with lowercase letters, along with its corresponding MD5 hash, a feature used in a wide variety of security applications. The disk would cost around $1700. 167 gigabytes Space needed to store a rainbow table

(used for cracking passwords) that shows 99.9 percent of the combinations above. The disk would cost around $150.

Do you have an insurance policy that protects you against cyber theft?

Better double check!

Sources: microsoft.com/business; itservices.uchicago.edu; symantec.com/infocus/1192; asiapacificsecuritymagazine.com winter 2014 | National Pawnbrokers Association | 53

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member Spotlight

Member News (From page 11)

National Pawnbrokers Association New Members Wyoming

DJL Jewellery & Loan Toronto, ONT, Canada

Big Horn Trading Sheridan

Industry Partners

Apprentice Pawnbrokers

TJS Boston, MA

John O’Neill Port Saint Lucie, FL

PawnMatrix Las Vegas, NV

International Pawnbrokers

Loan Mart #2 Tamuning, GU

DRS New York, NY

Most Wanted PEI Charlottetown, PE, Canada (2) Summerside, PE, Canada

Esha Jewels New York, NY

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(From page 21)

Biltmore Loan NPM: Your stores look quite different than the average pawn store. Why is that? DG: I want people to feel comfortable when they visit our establishment. It looks more like a bank—there are no counters or bars on the windows. There is actually no merchandise for sale. I sell merchandise through my wholesale diamond and jewelry business, e-commerce, auctions, and our current customer base. NPM: What is your favorite thing about being a pawnbroker? DG: Every day I see amazing things, and I love every second of it. I happen to be a stuff junkie, and there is no more perfect profession than this to satisfy that need. NPM: Why are you a member of NPA? DG: I believe our industry is changing rapidly and will change even more over the next 10 years. It is important to be a part of an organization that will help you stay on top of trends and watch out for the industry. It is important to tell people who we are and what we do. NPM: What advice do you have for other pawnbrokers? DG: Sell service. Make sure that the customer understands the process. Show your expertise.

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Full Service

Consulting Company

Pawn and Precious Metals Compliance IRS Compliance Audit Guidance Check Cashing and Payday Loan Turnkeys

Serving the pawn community since 2005

1-866-204-7209

www.checkconsultants.com human resources (From page 35)

Social Media Monitoring in the Workplace by courts, and includes several elements. Generally, if an employee is using a company-owned computer or phone system, and an employer can show a valid business reason for monitoring that employee’s email or phone conversations, then the employer is well within his or her rights to do so. Likewise, if employees have consented to email or phone monitoring (e.g. in their contract of employment), then you may monitor their calls or emails. But here’s the rub: the ECPA draws a line between business and personal email content you can monitor– business content is ok, but personal emails are private. Tip: If in doubt, consult your legal counsel. Develop and share a monitoring policy with employees in your employee handbook. If possible, get them to agree to it. Courts often look at whether employees were informed that their calls or emails might be monitored in the workplace, whether there was a valid business justification for the monitoring, and whether the employer complied with established policy. Source: U.S. Small Business Administration (SBA)

Tips on Social Media Employment Screening • Create a standard, written search policy that includes how you will handle social media. •

Consider assigning a person not involved in the hiring process to review social media sites. This person can filter out any information about a protected class (race, religion, etc), and only forward information that may be lawfully considered in the hiring process.

•

Keep detailed records of information used in any employment decision, and be sure that any information learned from social media sites in the employment decision process is used consistently.

•

Familiarize yourself with the off-duty laws in your state and refrain from considering any protected activities in hiring decisions. More than half of the states prohibit employers from taking an adverse employment action based on an employee’s lawful conduct on their own time even if the employee is only a prospective employee.

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business sense (From page 29)

Google AdWords the city of Atlanta is likely not looking for information about a pawn television show and the search engine will readily display local business results.

Low Advertising Fees

In most cities, the pawn industry has yet to aggressively embrace online advertising through Google. In certain cities, there are no pawn stores that advertise online. This creates a virtual open playing field and, in turn, lowers the anticipated cost for each ad click. In the payday loan or cash-for-gold industries, an ad may cost anywhere from $4-$20 per click, depending on the keywords. However in the pawn industry, ads may cost only $1-$2 in the same city.

Demographics

Pawn clientele is changing as quickly as the industryâ&#x20AC;&#x2122;s image. Customersâ&#x20AC;&#x2122; age demographic across the nation

is typically getting younger. We are also seeing second or third generation pawn customers coming through the doors. These younger customers are much more likely to find businesses with their mobile through Google search.

Analytics and Tracking

The problem with most kinds of marketing is that it is often hard to quantify the return on your investment. How successful is your ad campaign and how have your advertising dollars converted into sales? Google offers a free, robust website analytics application. It allows advertisers to see how many clicks they are getting, where customers go once they get to a website, and other valuable information. The bottom line is that if you are not investing in Google AdWords, at best you are missing a great opportunity to trump the competition; at worst you are falling behind.

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compliance (From page 25)

Important FinCEN Update, January 2014 Program Requirements

The rule requires an AML compliance program specifically for the precious metals dealer’s business that contains all four of the following requirements: 1 Written policies, procedures, and internal con trols that address the business’s unique money laundering and terrorism-financing risks 2 A designated company compliance officer who is responsible for ensuring that the program is effectively implemented 3 Ongoing training of appropriate persons concern ing their responsibilities under the program 4 An individual designated to do the following: a. Monitor and make recommendations for changes to the AML program b. Make appropriate changes to the program c. Retrain personnel as necessary about changes in business lines or other ongoing legal and regulatory issues This precious metals dealers AML program must be completely separate from other AML compliance programs for other MSBs the business operates.

What goods are covered?

The rule defines covered goods as jewels, precious metals, precious stones, and finished goods (including but not limited to jewelry, numismatic items, and antiques) which derive 50 percent or more of their value from jewels, precious metals, or precious stones contained therein. Currently silver is excluded from the covered goods definition.

Conclusion

This is an excellent time for pawnbrokers to double check your precious metals dealers rule and IRS Form 8300 compliance programs. Make sure that they are in writing, readily accessible in your stores, and current, including any revisions to your own program made for the non-pawn parts of your business. That way if IRS field auditors show up you are covered. For more information about either requirement, consult your lawyer or contact the company that provides your other Treasury Department/FinCEN/Internal Revenue Service compliance programs.

government relations

How does the rule’s limited pawnbroker exception work? The precious metals dealers rule’s compliance responsibilities arise if in the current year or in the preceding year the pawnbroker both purchased and sold at least $50,000 of non-pawn covered goods. In other words, if a business purchased $50,000 or more from the general public and sold $50,000 or more of the same categories of goods to the general public (other than defaulted and foreclosed pawn collateral) that business should have established a compliance program the following year. The rule does not seem to allow a covered entity to quit the program if their dollar volumes fall below the thresholds in a later year. Once covered, always covered seems to be the rule’s approach.

(From page 6)

We Can’t Predict the Future Law enforcement agencies are attempting to use confidential data that we are required to collect to violate our customers constitutional rights. Our industry is now the champion of one of our basic rights as Americans. With the help of the NPA GRC, these states, and many others, are constantly monitoring privacy issues and other onerous regulations that threaten our industry’s reputation and mere existence.

Online Interstate Pawn

Online interstate pawn has brought with it new questions about pawn transactions from the media, peaked the curiosity of some consumers, and raised the level of scrutiny of our industry by regulators and lawmakers. NPA has issued a statement regarding our position on such lending operations. Go to page 37 to view this statement in its entirety.

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Calendar of events

3/2014 MJSA Expo New York Mailing Address PO Box 508 Keller, TX 76244 Physical Address 891 Keller Pkwy Suite 220 Keller, TX 76248 Phone: (817) 337-8830 Fax: (817) 337-8875 NationalPawnbrokers.org

MARCH 9-11 Hilton New York, NYC mjsa.org

Dixie Conference and Trade Show

MARCH 17-19 Hilton Riverside Hotel New Orleans, LA Contact: Tim Collier hogtim@windstream.net (800) 497-4548 dixieconvention.org

NPA Staff Dana Meinecke Executive Director Dana@NationalPawnbrokers.org Margie Swoyer Director of Membership Margie@ NationalPawnbrokers.org Lindsay Wilson Director of Meetings and Events Lindsay@ NationalPawnbrokers.org Chris Pearcey Communications Specialist Chris@NationalPawnbrokers.org Matthew Church Government Relations Administrator Matthew@ NationalPawnbrokers.org Terri Congleton Administrative Assistant Terri@NationalPawnbrokers.org

4/2014 Legislative

6/2014 JCK Exhibition 2014 JUNE 1-4 Mandalay Bay Convention Center Las Vegas, NV lasvegas.jckonline.com

7/2014 Pawn Expo 2014

JULY 8-10 The Mirage, Las Vegas, NV Contact: Lindsay Wilson (817) 337-8830 PawnExpo@ NationalPawnbrokers.org PawnExpo.com

Conference

APRIL 9 Hamilton Crowne Plaza Washington, DC Contact: Matthew Church Matthew@ NationalPawnbrokers.org (817) 337-8830 NationalPawnbrokers.org/ government-relations

5/2014 Midwest

Pawnbrokerâ&#x20AC;&#x2122;s Conference & Convention

MAY 16-18 Franklin Marriott Cool Springs Franklin, TN Contact: Ron Stempkowski mailto:1ipa@comcast.net (219) 261-3173 midwestpawnconvention.org

10/2014 California

Pawnbrokers Association (CAPA)

OCTOBER 24-26 Sheraton Fairplex Hotel Pomona, CA Contact: Kim Andosca kandosca@amgroup.us (916) 669-5322 californiapawnbrokers.org

11/2014 Pawn boot camp 101 november 11-13 Indianapolis, IN pawnbrokerbootcamp.org

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Index of Advertisers ADVERTISER Page

ADVERTISER Page

Aaria 3 (248) 961-0506 AriaDiamonds.com

International Inside Front Cover Gemological Institute www.igionline.com

Stuller (800) 262-7700 stuller.com

ABC Diamond Buyer 5 (586) 354-7274 ABCDiamondBuyer.com Bluestone Trading Back Cover (888) -800-BLUE (2583) Bluestone-Trading.com The Buyers (562) 945-7276 TheBuyers.com

CompuPawn (866) 545-9868 CompuPawn.com

Dillon Gage (888) 436-3489 dillongage.com

Garfield Refining (800) 523-0968 GarfieldRefining.com

Garrett Metal Detectors (800) 527-4011 Garrett.com

Gemological Institute of America 57 (800) 421-7250 gia.edu Hallmark Research Institute Hallmarkresearch.com

Hi-Tech Precious Metals & Refinery (866) 950-7528 HiTechPMR.com

Hover & Strong (800) 759-9997 hoverandstrong.com

Livesayâ&#x20AC;&#x2122;s (800) 476-2715 Livesaysinc.com

The Trendz (866) 337-7464 thetrendz.biz

Manhattan Gold & Silver (212) 398-1454 mgsrefining.com/npa

TJS (877) 40 SHRINK Tjs.com

National Jewelers Supplies (888) 657-8665 NationalJewelersSupplies.com

United Precious Metals (800) 999-3463 UnitedPMR.com

North American Metals (800) 773-1626 NorthAmericanMetals.com

United Exports (305) 707-7937

Padmavati Exports (212) 869-0544 Padmavatiexportsinc.com

Palak Diam (213) 228-0077 PalakDiam.com Rapaport (212) 354-9800 rapaportauctions.com

Wexler

16 & 51

RMF Consulting Group (866) 204-7209 checkcashingcompliance.com

Rolland Safe (800) 225-2984 rslc.net

Stallcup Group (817) 479-3880 stallcupgroup.com

Stebgo Metals (800) 289-0138 stebgo.com

Inside Back Cover

Insurance Agency (800) 432-1853 WexlerInsurance.com White Pine (646) 758-0292 whitepinediamonds.com

Worldwide Diamond (213) 622-2191 WWDiamond.com

The NPA does not specifically endorse any entity including but not limited to exhibitors and advertisers; makes no representations, warranties, or guarantees; and assumes no responsibility for the products or services provided by these entities. The NPA expressly disclaims all liability for damages of any kind arising from the use or the performance of the products or services provided by these entities.

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WEXLER INSURANCE AGENCY, INC.

INSURING

PAWNBROKERS

SINCE 1968

The Best Coverage at Competitive Prices Available Coverages: v Pawned & Owned Jewelry & Guns

No Coinsurance for: v Pawned & Owned Guns & Jewelry or Other Stock

v Pawned & Owned Other Stock

v Business Personal Property

v Memo

We pay based on your choice of the following:

v Products Liability for Guns & Ammunition

v Actual cost of the loan plus legally accrued interest

v And many more see back page

v 2 or 3 times pawn value

Wexler Insurance Agency, Inc. 1120 Ponce de Leon Blvd. Coral Gables, FL 33134 Tel: 305-445-5050 Fax: 305-448-8189 Nationwide: 1-888-4-WEXLER 1-800-432-1853 E-mail: info@wexlerinsurance.com

v Replacement Cost

New York Office 580 Fifth Avenue Suite 715A New York, NY 10036 Tel: 212-391-5211 Fax: 212-391-5212 California Office 2711 East Coast Hwy. Suite 106 Corona del Mar, CA 92625 Tel: 949-723-3835 Fax: 949-723-3839

Ohio Office 7363 E. Kemper Rd. Suite C & D Cincinnati, OH 45249 Tel: 513-891-2131 Fax: 513-891-2132

Ask about our exclusive Workers Comp program for Pawnshops which is available in all 50 states.

CALL 1-800-432-1853 FOR AN IMMEDIATE QUOTE OR VISIT US AT WWW.WEXLERINSURANCE.COM Wexler FP.indd 37

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Call For Your FREE Diamond Clarity Grading Booklet

Large Selection of Diamonds and Estate Jewelry BUY - SELL - CONSIGN

NationalJewelry Pawnbrokers Association Paying TOP Prices for Diamonds & Pre-Owned Logo Sheet and Standards

The National Pawnbrokers Associationâ&#x20AC;&#x2122;s logo is a registered trademark. Use is Association after receipt of a completed Logo Use Agreement. Only members

View Our Inventory at INK COLORS: 2-color printing Blue: Pantone 2955 C Gold: Pantone 1255 C

www.bluestone-trading.com Phone (440) 442-7280 Fax (440) 442-0026

(888) 800-BLUE (2583) (800) 321-7979

1-COLOR PRINTING: Black

PANTONE Blue: C 100 Gold: C 10

For use at 1 inch or less in sca

P.O. Box 24126 Cleveland, OH 44124 rbg@bluestone-trading.com

For use at over 1 inch in scal Bluestone_BL.indd 64

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