In the early part of the last century many Native American families of the southwest traded their treasured family jewelry for necessities.  While most of this jewelry was picked up by the families, a small percentage was not.  What was left at the trading posts beyond the return date was then sold or simply kept by the trading post.  This is the original meaning of "Old Pawn" jewelry.  This strict category of southwestern jewelry is the most sought-after and the most rare.

Old Pawn in current usage is a catch-all term for all vintage southwestern jewelry.  It encompasses everything from the jewelry that was described above, to estate jewelry, to pieces that are simply old enough to be called vintage.