How do pawn shops code prices?

Answer 1

I worked at a pawnshop for about 1 year. Most shops have a 10 digit code. For example, if you take a ten letter word and make each letter represent a number. so if your ten letter word was "WASHINGTON" Since there are two n's in the word I would replace the last one with an X. Now your word is "WASHINGTOX" So if the pawn shop paid $15 for an item, then on the back of the tag they would write a WI. See the W=1 the A=2 the S=3 the H=4 the I=5 the N=6 the G=7 the T=8 the O=9 and the X=0. So $35 would be SI $120 would be WAX. $8 would just be T. This way the salesman can look at the code, and know what mark up they need to barter with the client. In most cases they need a minimum of 100% mark up. Hope this helps.