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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 02, 1978
Page
10
Advertisers claim pawnbrokers provide fast money by purchasing items like cameras jewelry or stereo gear with a later repurchase option. The buyer pays about 20 percent above the purchase price and typically must reclaim within 30 days. The broker earns high implied interest.
Bob McCoy started making and selling model railroad parts when parts for old trains became unavailable. The family business produces about 10,000 locomotives and cars yearly, with engines priced at 135 to 235 dollars and cars at 9 to 35 dollars. They rely on collector clubs and word of mouth, shipping mainly to the East Coast with some sales abroad. The McCoys are booked for two years of special orders. profits are modest but steady.
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