A pawnbroker is a person regularly engaged in the business of making contracts for purchase or purchase transactions in the course of business.
A contract for purchase, commonly known as a "pawn" transaction, is a contract entered into between a pawnbroker and a customer pursuant to which money is paid to the customer by the pawnbroker on the delivery of tangible personal property by the customer to the pawnbroker, on the condition that the customer, for a fixed price and within a fixed period of time, to be no less than thirty (30) days, has the option to cancel the contract.
A purchase transaction is the purchase by a pawnbroker in the regular course of business of tangible personal property for resale, other than newly manufactured tangible personal property which has not previously been sold at retail, when the purchase does not constitute a "contract for purchase", as defined herein.
- City Code 2.3.8 for Pawnbroker License
- City Code Chapter 2, Article 1 for all Business Licenses
- Pawnbrokers must abide by state law set forth in the Colorado Revised Statutes Title 12, Article 56
Fees and Payment
- Annual license fee: $110
- Late renewal fee: $55
- Initial background check for each Principal/Managing Agent: $7
- Duplicate license fee: $5
Pawnbroker Licenses are valid for one (1) year from the date of issuance or renewal.
The City Clerk's Office accepts cash, check, money order, Visa and MasterCard.
- Business License Application
- Department Review Form
- $2000 Surety Bond - Bond Form
- Approval by Pikes Peak Regional Building Department, as outlined in Department Review Form.
- Approval by City Planning and Land Use Review, as outlined in Department Review Form.
- Approval by Police Department - Special Services Section, as outlined in Department Review Form. 719-444-7526
- Approval by City Sales Tax, as outlined in Department Review Form.
- Lawful Presence Affidavit, if a sole proprietor
- Trade Name Registration and Certificate of Good Standing with the Colorado Secretary of State, if applicable.