Coin rip ethics, new TV show
GrumpyEd
Posts: 4,749 ✭✭✭
It seems like threads with coin rips always become an ethics train wreck.
There's a new reality show starting Sunday night called "Pawn Stars" and it's going to have some coin stories.
It's going to be interesting to see the ethics, of course ethics may change when it's on TV. Pawn shops aren't exactly coin experts and they can use the excuse "they pawned it, if it's so great they could have re-claimed it".
Might be interesting to watch
There's a new reality show starting Sunday night called "Pawn Stars" and it's going to have some coin stories.
It's going to be interesting to see the ethics, of course ethics may change when it's on TV. Pawn shops aren't exactly coin experts and they can use the excuse "they pawned it, if it's so great they could have re-claimed it".
Might be interesting to watch
Ed
0
Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>I would guess not many people pawn coins worth over a $1000 >>
Or dont knowingly go to a pawn shop with coins over $1000
I bet they buy for below melt and every find is gravy. It will be fun to see how they do it.
Actually, there are great stories in pawn stores, but getting people to tell them is another matter. Too much heartache involved to expect folks to just open up.
No doubt they'll skip all the dull ones, like the Antiques Roadshow......
<< <i>I set my dvr..... thanks >>
Same here
Anyway, I once tried to purchase a few sets with some minor cameos. The owner priced them at over ask! I had my grey sheet out and he had his Trends out. Needless to say, I counter offered at bid. When my counter offer was refused, I put the sets back in the box and left - never to return.
l look forward to the TV show - should be good for a few laughs.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
They seemed goofy on the CC dollar.
Like anything they see a CC on is $500.... I'd be getting the magnet out
The other funny part was his watch guy cleaned up the Rolex watch "like factory" then he told the customer it was like that from the factory and got his 5K out of it.
LOL....
just like a coin dealer who is overstocked with unmoveable inventory a Pawn Shop will offer low prices for stuff they may sit on for many, many years. in that regard it is the better proprieters who know how to market that tend to run the better shops. the image is changing, but just like the opinion that all coin dealers are rip offs, so it goes with Pawn Shops. we had/have all types of customers, from the down-and-outs, thieves and well-to-do to those who we see on a one time basis and those who are regulars or seasonal. the smart customers always know what they have, how much it's worth and how long it'll be till they redeem.
believe it or not, there is stuff in our shop that was an original loan of several hundred dollars well over 10 years ago. why people pawn an item and then pay double or triple its value over a long period and eventually forfiet is a mystery to me. it happens more then i'd like to say.
to repeat myself, a Pawn Shop is for short term collateralized loans, and most people don't understand that. to that end, much of the criticism is the fault of the customers. i could tell stories, but you'd probably not like to hear them.
<< <i>I used to routinely look thru proof sets at pawn shops for cameos and varieities. Never found anything of great value - it can't be that the pawn shop owners know what to look for. It is more likely that they hold sets for a dealer who cherries out the nice stuff.
Anyway, I once tried to purchase a few sets with some minor cameos. The owner priced them at over ask! I had my grey sheet out and he had his Trends out. Needless to say, I counter offered at bid. When my counter offer was refused, I put the sets back in the box and left - never to return.
l look forward to the TV show - should be good for a few laughs. >>
How generous of you to offer bid for something that is clearly a premium item vs. the generic. And had you found a DCAM coin in there I am sure you would be touting your rip. Poor form.
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
If you build a relationship with a Pawnshop, it is benificial. I have never done coins, but as a guitar collector, I have cherried some great guitars. If they know your are serious, they will even call you for advise and value information. There are 2 guitars in my accoustic collection that were as Keets described, pawned then interest payments for years, then let go. The owner had them for free, I got them for a song ( pun intended) a 60's vintage Martin D-28 and Gibson Hummingbird, both top notch collectibles.
Back on topic, I freakin forgot to watch the show, lol. Will not miss it this weekend tho, I set a reminder on my TV.
<< <i>Morgan Dollars were minted in Charlotte for a brief time... >>
And he said he knew facts of every mint. LOL
<< <i>I would guess not many people pawn coins worth over a $1000 >>
.......you must not know any desperate people.