I went to a local pawn shop today:Lowest silver buy prices around!
TennesseeDave
Posts: 4,773 ✭✭✭✭✭
I thought I would check a local pawn shop for coins today while I was out in town this morning. I live in a smaller town that has 3 or 4 pawn shops and stopped at one of the ones I hardly ever go into. A woman behind the counter asked if she could help me and I asked if they had any silver coins. She pointed me to a glass case that contained mostly jewelry and a few Mercury and Roosevelt dimes and Washington quarters. All were separated in tiny ziplock baggies and prices were $3 for Roosies,$3.25 for Mercs and $4.50 for the quarters. Thought I had scored on a 21-D Merc in VF but a closer look revealed a 24-D
I asked if they had any silver dollars and was told that they were out of them right now.I asked how much do you pay for silver coins and was shocked when she said"20 cents per gram"or around $6 for a silver dollar.I told her most places were paying around 20 X face value and she said,"no one would pay $20 for a silver dollar.I asked how much do you sell them for and she said about $10 to $12 each.I wish they had a few hundred or more,but I left just shaking my head.I will definately keep checking back and should have told her that I would pay them $13 each for as many silver dollars as they could buy!
I asked if they had any silver dollars and was told that they were out of them right now.I asked how much do you pay for silver coins and was shocked when she said"20 cents per gram"or around $6 for a silver dollar.I told her most places were paying around 20 X face value and she said,"no one would pay $20 for a silver dollar.I asked how much do you sell them for and she said about $10 to $12 each.I wish they had a few hundred or more,but I left just shaking my head.I will definately keep checking back and should have told her that I would pay them $13 each for as many silver dollars as they could buy! Trade $'s
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I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom I provide, then question the manner in which I provide it. I prefer you said thank you, and went on your way, Otherwise, I suggest you pick up a weapon, and stand to post. Either way, I don't give a damn what you think you are entitled to!
<< <i>We sell $20 gold pieces for $750 when we don't have any.... >>
Yeah,I knew that's why they didn't have any.Just thought it was kinda interesting how uninformed they seemed to be.They weren't selling the quarters and dimes for 10X face.
roadrunner
www.brunkauctions.com
they said 10x face ( I almost choked )
<< <i>you should have bought ALL the quarters they had because they are going for $4.98 as i write this. >>
The problem with that purchase is you have to do a lot of work to make any money
unless they happen to have 1000+ quarters which I highly doubt AND you need
to find a dealer buying today (silver could go down) for greater then 19 face to make a single red cent.
so lets say the moons are aligned, a dealer across the street is paying 20 times
face, silver is not going down as you are making your purchase, and you walk out
with 300 silver quarters. By rushing over to the coin dealer and selling for 20 times
face you make a huge whopping 30 dollars...
in about the only situation i would ever consider the flip.. if i have to hold for more
then a day or two, if i had to drive to another town to sell, etc.. i would consider
it a very sub par use of 1350 dollars to buy the quarters.
<< <i>$3 for a dime seems very high. >>
It is for bullion,however this is a place where " IF " they ever had any key dates they could be bought for bullion prices.I did not buy anything there,but will check back soon to see if anyone has given their silver away to this shop.