GEM PAWNBROKERS WAS ESTABLISHED IN 1947

A New York City Legacy Since 1947

GEM Pawnbrokers traces its roots back to 1947, when Martin Kaminsky opened his first Buy and Sell business in Downtown Brooklyn. Built on principles of fairness, transparency, and trust, Kaminsky’s shop quickly became a neighborhood staple. His approach set a new standard for what a trusted NYC shop could be — a place where New Yorkers could count on honest evaluations and reliable financial solutions.

Expansion Through the Generations

As the business grew, Martin’s son Mitchell Kaminsky carried the legacy forward. In 1965, Mitchell founded Gem Financial Services, Inc., a specialized financial arm designed to support and strengthen the pawn industry. This expansion broadened GEM’s capabilities, offering financing programs tailored to the needs of pawnbrokers and reinforcing GEM’s position as a leader in the space.

Throughout the decades, GEM continued to expand across New York City, becoming a trusted destination for pawn loans in NYC and jewelry loans in NYC. The company’s steady growth reflected the Kaminsky family’s deep commitment to serving local communities with integrity and care.

Leadership Transition and Modernization

After Mitchell’s passing in 2017, GEM entered a new era of modernization and strategic growth under the leadership of his sons, Ryan and Michael, alongside their cousin Rachel Wilen, who oversees day to day operations as President. Together, they executed a comprehensive organizational transformation — upgrading systems, enhancing customer experience, reinforcing compliance, and investing in employee development at every level.

This modernization paved the way for GEM’s accelerated expansion. Today, the company operates over 28 locations, employs more than 200 team members, and houses an in-house training center dedicated to developing the next generation of skilled and knowledgeable pawnbrokers. Throughout the decades, GEM continued to expand across New York City, becoming a trusted destination for pawn loans in NYC and jewelry loans in NYC. The company’s steady growth reflected the Kaminsky family’s deep commitment to serving local communities with integrity and care.

Strategic Growth and Industry Expansion

In 2024, GEM strengthened its industry position with the acquisition of MODELL Pawnbrokers, one of the oldest and most respected pawn businesses in the United States. This acquisition honored the shared legacy of long-standing American pawnbrokers while further expanding GEM’s operational reach and influence.

A Trusted Name for Pawn Loans and Jewelry Loans in NYC

From Martin Kaminsky’s original storefront in 1947 to today’s multi-location enterprise, one thing has remained constant: GEM’s unwavering dedication to serving New Yorkers. As one of the best pawn shops in NYC, GEM continues to deliver secure pawn loans, expert jewelry loans, and exceptional service rooted in family values and industry expertise.

Looking Ahead

Still family-owned and operated, GEM Pawnbrokers remains committed to the values established by the Kaminsky family nearly 80 years ago. With deep community roots, modern operational standards, and a mission centered on serving real New Yorkers, GEM is positioned to continue leading the industry and supporting the unbanked and underbanked for generations to come.