noun / verb
pawn
An item pledged, or the act of pledging it, as security for a loan.
He pawns his watch to cover the bill.
Etymology
The older French word meant a pledge or security. Pawn preserves that financial sense for an object deposited to secure repayment of a loan.
More examples
- The necklace remained in pawn for a month.
- She redeemed the pawn after repaying the loan.
- They pawned several items during the difficult winter.
Forms
pawn · pawns · pawned · pawning
pawnbroker noun — a lender who accepts goods as security
Similar words
- pledge
- Offer property as security, not necessarily through a pawnbroker.
- collateral
- The property securing a loan rather than the act of pawning it.