New York, NY Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- Record retention
- Minimum 6 years
- Minimum clerk age
- 16 years old
- First violation fine
- $175
- Third+ violation fine
- $500
- Required equipment
- Computer + digital camera
Summary
New York City pawnbrokers are licensed under Administrative Code Title 20 and must electronically log every pawn, pledge, and redemption in real time, keeping detailed records for at least six years.
Every pawnbroker shall create an electronic record in English, in a manner to be specified by the police commissioner by rule... Such electronic record shall be created by the dealer at the time of every transaction in which goods, articles and things, or any part thereof, are pawned, pledged or redeemed in the course of business of such pawnbroker. Such electronic record shall be retained for a minimum period of six years from the date of such transaction.
Full Breakdown
Pawnbrokers operate under a Chapter 2 license (Subchapter 12) and must create an electronic record, in a format the NYPD Police Commissioner sets, at the moment of every transaction, describing each item and, at the Commissioner's discretion, attaching photos. Records must be kept six years and are open to inspection by the NYPD, the Commissioner, the state Attorney General, and the Comptroller. Shops need a working computer and digital camera on-site. Clerks must be at least 16 to accept a pledge, and every pawn ticket must carry a fire/theft liability notation plus a posted "Read your ticket" sign.
Violations & Fines
Civil penalties escalate: $175 for a first violation, $300 for a second, and $500 for a third or subsequent violation of the recordkeeping or ticket-disclosure rules, enforced by the Department of Consumer and Worker Protection.
Frequently Asked Questions
How long must NYC pawnbrokers keep transaction records?
How young can a pawn shop clerk be in NYC?
What must be on an NYC pawn ticket?
Sources & Official References
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