Pawnbroker Bonds in 15 States and DC
If you’ve been asked for a pawnbroker bond, start with where your shop is. Whether a bond is required, and for how much, depends on your state and sometimes your city. Ashton Agency writes pawnbroker bonds in 15 states and the District of Columbia, and can help you make sense of the request and get a quote.
Questions about your bond? Call our East Coast team at (800) 451-4854 or our West Coast team at (800) 452-2663, or use the quote form below.
What Is a Pawnbroker Bond
A pawnbroker bond protects customers from certain losses when a pawnshop doesn’t meet its legal duties. What it covers depends on the state. In Florida, covered losses include fraud, misrepresentation, breach of contract, financial failure, or violations of the Pawnbroking Act. In California, it protects pledgors whose property can’t be redeemed because of the pawnbroker’s criminal conduct. In Pennsylvania, it backs the pawnbroker’s duties under the Pawnbrokers License Act.
Think of it as three parties: your shop, the surety company that stands behind the bond, and Ashton, the agency that sets it up for you. The bond form names who it protects. If the surety pays out on a valid claim, you may be asked to repay it.
Who Needs One and What It Covers
Pawnbroker bonds are set state by state, and in a few places city by city. Amounts below come from each state’s own law or licensing agency. Check your license category and location before you apply.
Florida
The Department of Agriculture and Consumer Services licenses pawnbrokers. Applicants must show at least $50,000 in net worth or file a $10,000 bond for each license. A certificate of deposit or irrevocable letter of credit from a Florida bank can replace the bond.
California
The bond is a two-year, non-revocable $20,000 surety bond in favor of the State of California, filed with the local licensing authority. It protects pledgors when pledged property can’t be redeemed because of the pawnbroker’s criminal conduct. California also requires a second showing: at least $100,000 in liquid assets or a separate $100,000 bond.
Ohio
A licensee must keep a surety bond of at least $50,000 or hold $75,000 in liquid assets (ORC 4727.20). The bond runs to the Superintendent of Financial Institutions for the benefit of anyone harmed by a violation, and the surety stays liable for acts during the bond term for two years after it ends.
Virginia
There is no state license. A locality licenses pawnbrokers, and Code of Virginia 54.1-4003 requires a surety bond of at least $50,000. A person holding an unsatisfied judgment against the pawnbroker can sue on the bond.
Indiana
The Department of Financial Institutions sets the amount. Its current form calls for a bond of $50,000 per location, up to $200,000 in total, payable to the department. The bond stays in effect until the department releases it.
Louisiana
Applicants need $50,000 in net assets or a $50,000 surety bond from a company licensed in Louisiana (R.S. 37:1787). The Office of Financial Institutions can ask for a CPA statement to check net assets.
South Carolina
The Department of Consumer Affairs requires a bond that the statute set at $15,000 in 2016 and adjusts for inflation every fifth year. The Department’s current bond form, revised May 2026, shows $17,900.
Pennsylvania
The Department of Banking and Securities requires a $2,000 bond with each license application, and a separate bond for each place of business. The department can accept a deposit of cashier’s checks, CDs, or marketable securities in place of a surety bond. Licenses renew by October 1.
Mississippi
The Commissioner of Banking and Consumer Finance requires a $10,000 bond payable to the State, or $10,000 in cash, certificates of deposit, or government bonds. Each place of business needs its own license.
Oklahoma
The Department of Consumer Credit requires a $5,000 bond for each license. A second shop needs its own license and its own bond.
Oregon
The Department of Consumer and Business Services requires a $25,000 pawnbroker surety bond, or an irrevocable letter of credit for the same amount, with the application.
New York
State law (General Business Law section 41) calls for a $10,000 bond payable to the local licensing authority. In New York City, the Department of Consumer and Worker Protection requires a properly signed $10,000 bond naming the City of New York as certificate holder, covering the full licensing period.
New Jersey
The Department of Banking and Insurance’s bond form states a $1,000 penal sum payable to the State.
District of Columbia
A $5,000 bond running to the District, with two or more sureties or an authorized surety company, is required under D.C. Code 47-2884.04. The licensing office also accepts a cash bond.
North Carolina and Washington
Both are local. North Carolina cities and counties license pawnbrokers and require a $5,000 bond payable to the city or county (G.S. 66-399). Washington has no state pawn license that we found, and any bond is set by your city or county, so ask your local licensing office.
State bond amounts at a glance:
| State | Bond amount |
|---|---|
| California | $20,000, plus a $100,000 bond or asset showing |
| District of Columbia | $5,000 |
| Florida | $10,000 per license, or $50,000 net worth |
| Indiana | $50,000 per location, up to $200,000 |
| Louisiana | $50,000, or $50,000 net assets |
| Mississippi | $10,000 |
| New Jersey | $1,000 |
| New York | $10,000 |
| North Carolina | $5,000, payable to the city or county |
| Ohio | $50,000, or $75,000 liquid assets |
| Oklahoma | $5,000 per license |
| Oregon | $25,000 |
| Pennsylvania | $2,000 per place of business |
| South Carolina | $17,900 on the current form |
| Virginia | $50,000 minimum |
| Washington | Set by city or county |
More than one shop? Mississippi requires a separate license for each place of business, Pennsylvania requires a separate bond for each, Oklahoma and Florida set their bond per license, and Indiana scales the bond by location up to its cap. Tell us how many shops you run so the request carries the right amount for each.
Why Choose Ashton Agency
Each shop covered
If you own more than one shop, you can talk with a real member of the Ashton team who can walk through each location with you.
Options per location
We work with more than one carrier, so we can compare the bond options and prices available for each shop.
Across state lines
Shops in different states have different rules, and we write pawnbroker bonds in 15 states and the District of Columbia.
Six decades of bonds
Ashton has been in the bond business since 1966.
Frequently Asked Questions
Does every pawnshop have to buy a bond?
Not everywhere. Florida lets you show $50,000 in net worth instead of the $10,000 bond. Louisiana offers a $50,000 net-assets option. Ohio lets you hold $75,000 in liquid assets instead of the $50,000 bond. Several states also accept a cash deposit, a CD, or a letter of credit. Your state’s licensing agency decides what qualifies.
Is the bond the same as insurance on pawned goods?
No. The bond covers certain losses tied to your duties as a licensed pawnbroker. It doesn’t insure the shop or the goods inside it. Ask about property insurance separately.
If my bond is $10,000, is that my cost?
No. The bond amount is the coverage the license calls for. What you actually pay is a premium, which is quoted separately for your shop.
Is the bond amount the same in every city?
Not always. North Carolina cities and counties issue the license and receive the bond, Virginia localities license pawnbrokers, and Washington leaves any bond to cities and counties. Outside New York City, New York’s bond is payable to the local licensing authority, and local ordinances may add terms. Ask your local licensing office whether it requires more than the state does.
Can a pawnbroker license cover a secondhand business too?
You may need both licenses. In California, for example, pawnbroker licensing sits alongside secondhand dealer licensing. Ask your licensing office which licenses, rules, and exemptions apply to what you do. The pawnbroker bond doesn’t replace another required license.
Request a Pawnbroker Bond Quote
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