This business is not a pawn shop. Pawn shops are licensed to provide collateral loans as well as buy. As the price of gold spiked, these illegal gold buyers have popped up like weeds and operate with a willful disregard of the strict laws that govern purchases. I applaud the police for targeting these illegal buyers, but I dissapointed the reporter called them pawn shops. Pawn shops are generally family owned businesses who have stong ties to their commuity, customers and law enforcement.

I am an officer of the California Pawnbrokers Association and wouls love the opportunity to speak with your reporter to set the record straight. These shops are not licensed pawn shops. They are illegal gold buyers that are not following the laws regarding buying, reporting and holding every item they purchase.

THAT IS NOT A PAWN SHOP. THESE PALACE ARE ILLEGAL GOLD BUYER. PAWN SHOP LOAN, THESE PLACE CAN ONLY BUY. MISREPRESENTED.