Middleboro’s Board of Selectmen voted unanimously to issue two licenses: a pawnbroker’s to Gregory Scot Jewelry & Loan, 45 Centre St., and a second hand-junk dealer-old metals license to Scot Dean, 25 Wood St. Dean said he is a jeweler and plans to primarily deal in jewelry at the pawn shop, which he plans to open in November. On June 27, 2011, the board set the interest rate that a pawnbroker can charge customers for items they pawn and buy back later at 3 percent.

Dean said the industry is regulated by the state, and a business must report weekly to the local police department the items that are pawned, along with a picture. The reports must include copies of photo identification and licenses of those who pawn items so police can track suspicious activity.

Source: EnterpriseNews.com, September 22, 2011