Indeed it does-- it happened to me. I could have had my stolen gun back 8 years earlier if Dekalb PD (or the pawnshop,but who are we kidding?) did their job. And pity the poor guy who got arrested for possession of it-- but fortunately could prove that he really did buy it from a pawn shop, with a background check.
Dekalb, of course, had zero interest in following up on who sold it to the pawn shop-- after all, all they did was break in a truck, steal three guns and a digital camera. (This was before I could have merely carried them into the restaurant legally, you understand.)
The pawn shop probably did their job, it's the police that don't seem to want to run the numbers. Which I don't blame them because they probably don't have the time to chase down every single stolen item. But I do blame whoever it is that thinks it's a good idea that only the police have access to the stolen goods database. That insane policy just makes it easier for thief's to move stuff.