Caribbean romance and adventure ... and maybe even a hint of piracy dance around the jewels of a pawnshop showcase, now waiting for a new owner... and to make new memories...

By Ron Añejo

What would you think if someone said "I know a guy who runs a pawnshop in a Latin American port town in the Caribbean"?

Would it make you think of showcases full of exotic jewelry from all over the world? Would it conjure up images of a cigar-smokey back room where hot merchandise is haggled over? Does it make you feel sorry for the cash-strapped single mother maybe losing her grandmother's ring because she can't keep up with usurious pawnshop interest rates?

Well, you'd only be right on one count, says American Robert Hildreth, proprietor of Plaza Las Americas in downtown Puerto Plata.

After growing up in Missouri and and serving nearly ten years as an Army
Aviation Officer, Robert Hildreth moved to Puerto Plata in 1991 to help with a small pawnshop his father had opened as a retirement pasttime. As he grew into the business he came to fully appreciate how pawnshops really are an important institution for these folk.

Far from a seedy storefront Plaza Las Americas is a gleaming white structure where you you enter through a glass façade with waterfall. Out of this modern facility Roberts provides short term loans using the pawn system for small loans as well as larger loans that use real estate as collateral.

"You can walk in here and get a loan of $100 to $10,000 dollars in five minutes," he says. Larger, mortgage based loans can be processed in just a few days. "Regular banks can't provide that kind of service in this country, bank loans take weeks and months to process."

And so, about all those preconceived pawnshop images, you'd be right about the varied selection of gold and jewelry, from antique European gold to exotic eastern designs - but you can eschew all those ideas of hot merchandise and exploitive lending, says Robert.

Only half of one percent of merchandise turns out to be stolen, he explains. "We actually cooperate with police because of all the information that is recorded about each client. We actually provide a trail for them to follow".

Robert explains that most people know how to use pawn shops. "You can get into trouble if you use credit cards the wrong way, too" he says, "but most people use the pawn shop system to their advantage." A full 88 per cent of all merchandise is redeemed, he says. In other words, only 12% of clients actually forfeit their property.

Despite a proliferation of ATM machines and modern banks in Latin America, wearing your gold is an ages old way that is still widely used of making sure your savings are safe, he points out .

When times are good all that gold is strutted around and shown off. When times get tough, you just go down to the local pawn shop, deposit a piece of jewelry as security, and take out a short term, quick cash loan.

Indeed in poor countries a huge segment of the population lives in a fringe economy, says Hildreth. They don't pay taxes and they don't use banks. They might not have steady jobs or regular education or qualify for a credit card. Their house might be too humble a dwelling to qualify for loan collateral. And so they use what they've got, be it a television, a necklace, a boombox. And it's the pawnshop that will accept this kind of collateral and give them the quick cash they need.

Robert has transformed the concept of pawnshop by applying bank standards"to the type of security and reliability that his clients perceive. At many a corner store pawnshop around town you can virtually kick your way through the wooden walls. But at Plaza Las Americas, customers' possessions are stored in real bank vaults and secure rooms that are guarded around the clock.

"Our customers put their property in our hands for safe keeping. I really feel they appreciate the efforts we make to protect it for them," says Robert, citing one of the reasons why his shop has become the biggest in town. Another reason for his success is that Robert believes strongly in giving back to the community. Plaza Las Americas has sponsored softball teams, clean-up campaigns, and through Rotary Club he has built and equipped more than a dozen barrio and rural schools in the region. Education is what is needed the most in the Dominican Republic, says Robert, who spends a good part of each day on community concerns

Fabulous Finds

Browsing through the cabinets of Robert's jewelry store one's mind tries to imagine what stories lie behind those diamond rings, fancy watches and endless other pieces of jewelry, jewelry that traveled from all over the world before coming to rest in this showcase, awaiting the next adventure.

Whose heart broke over that engagement ring? Whose heart fluttered over those pearl earrings? Whose neck did that chain adorn, and what music did they dance to? What happened to bring this piece of jewelry to this very showcase?

Indeed the notions of Caribbean romances, adventure and maybe even piracy dance around these jewels, now waiting for a new owner and a new adventure.

In Robert's store, while a group of young latino boys peer with envy at those heavy, Latin style chest ornaments they hope one day to own, further down the aisle we find many trays of more delicate pieces - rings, fine chains, elegant necklaces - that Robert sells by the gram. He can sell at discounted prices of up to 60 and 80 per cent below regular jewelry stores. "Our prices are simply based on the weight and quality of the gold and insets, with very little concern for design value," he says. "Some items go at the straight market price of gold."

"Tourists don't think of going to a pawnshop on vacation, but you can find some fantastic deals here along with some pieces that become great souvenirs, "

Plaza Las Americas is located right next door to the Caribe Bus Terminal in Puerto Plata, about a 15-minute walk from Central Park. How to find Plaza Las Americas