To consign means to transfer control of something over to another. In the US, we usually use this term when we're giving something to someone as collateral for a debt. For example, a consignment shop, otherwise known as a "**** shop" is a place where people of limited means bring their valuables to obtain a modest amount of money (under the assumption that they may come back within a certain period of time to get those valuables back at a slightly higher price).
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