Minneapolis, MN Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- License required
- Yes, per location, police-issued
- Bond required
- $5,000
- New-applicant investigation fee
- $1,500 deposit
- Minimum redemption period
- 90 days before sale
- Purchased-item resale hold
- 30 days
Summary
Minneapolis pawnbrokers need a police-issued Chapter 324 license, a $5,000 bond, and daily electronic transaction reports to the police department before they can legally operate.
No person shall engage in the business of pawnbroker at any location without a pawnbroker license for that location. No pawnbroker license may be transferred to a different location or a different person. Issuance of a license under this chapter shall not relieve the licensee from obtaining any other licenses required to conduct business at the same or any other locations.
Official source re-checked September 7, 2026: no newer edition of the code had been published (publisher’s edition: Code of Ordinances: Supplement 72).
Full Breakdown
No one may run a pawnbroking business in Minneapolis without a license tied to that specific address; licenses can't be transferred to a new owner or location. Applicants post a $5,000 bond, pay a $1,500 investigation deposit, and undergo a police background check. Every reportable transaction must be logged in ink or computer record and uploaded daily to the Automated Pawn System. Pledged items must be held at least 90 days before sale, and purchased items can't be resold for 30 days.
Violations & Fines
Operating without a license, transferring a license, failing to log or report transactions daily, selling items before the 90-day redemption period ends, or receiving goods from a minor or intoxicated person are all violations that can trigger license denial, suspension or revocation.
Frequently Asked Questions
How long does a Minneapolis pawnshop have to hold a pledged item?
Does Minneapolis require pawnshops to report transactions to police?
Sources & Official References
Other rules in Minneapolis
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