Most of us hear the name Saint Nicholas and immediately think of the jolly 'ole soul who brings gifts to good little girls and boys on Christmas. But as with many mythical (don't believe it for a minute!) figures, there are many tales circulating throughout the world about St. Nicholas aka Santa Claus.

There actually once was a real person named Nicholas, who grew up to be a saint. He was born in Turkey, around the year 280, into a wealthy family. At the age of 19, Nicholas was ordained into the priesthood. Shortly thereafter, Nicholas was promoted to Bishop, when he was appointed to oversee the monastery, which his Uncle, also Bishop Nicholas, built.

This young "boy Bishop" became known for his many acts of generosity and helping out others in times of financial difficulties.  These acts of kindness and love are what have transcended him from a mere priest to the loving Father Christmas we all have come to know and expect each Christmas Eve.

St. Nicholas Saves A Debtor's Life

The legend that ties St. Nicholas to pawnbrokers tells the story of the pawnbroker who made a loan to a friend with no collateral to secure the debt. Instead, the friend swears on the icon of St. Nicholas that he will repay the pawnbroker on a fixed date.

However, when the debt is due, the friend refuses to pay the pawnbroker, insisting that he owes nothing. The pawnbroker sues his friend and takes him to court, where the friend tells the judge he has already repaid the pawnbroker.

What the pawnbroker and the judge did not know is that the friend had secretly put the exact amount of money he owed the pawnbroker into the shaft of his walking stick, which he tricked the pawnbroker into holding while he declared his oath of repayment to the court.

With no evidence of guilt, the judge decides on the side of the friend. The pawnbroker feels betrayed by his friend and by his patron saint, St. Nicholas.

Leaving the court, the crooked friend is hit by a runaway horse and wagon, suffering a painful death. A passerby notices, laying on the road beside the dead man, the broken cane with its contents of money scattered about. The passerby calls to the scene the pawnbroker and the judge. After counting the contents of the cane, the pawnbroker realizes it is the exact amount the friend owes him. The judge collects the money and offers it to the pawnbroker. But, he refuses to take the money while his friend lies dead.

Then the pawnbroker prays that if the power of Saint Nicholas is great enough to take the life of the freind to expose him as a crook, then the mercy of the Saint is powerful enough to bring the man back to life.

Saint Nicholas, touched by the generosity of the pawnbroker, answers the  prayer. Miraculously, the friend opens his eyes, stands up, and walks over to the pawnbroker. He takes the money from the Judge and repays the pawnbroker.

As legend has it, this is when St, Nicholas became the protector of financial integrity and the guardian of commitments made in good faith.

Gold Balls Symbolize Gold Coins of the Debtor

So, the next time you see the three gold balls hanging outside a pawn shop, you should think of the story of the pawnbroker and his friend. Supposedly, the three gold balls symbolize the coins hidden in the friend's cane. Pawnbrokers for centuries have hung these three gold orbs outside as good luck from and as a tribute to Saint Nicholas.