POLL: What percent of coins at pawn shops are stolen?

slipgate · August 8, 2007 11:33PM

What percent of coins at pawn shops are stolen (InYourHumbleOpinion)?

garsmith · August 8, 2007 11:41PM

+80%

secondrepublic · August 9, 2007 3:41AM

It depends what you mean by "stolen." If you mean the coin was brought in by a thief, probably more than 50%. If you mean "stolen" by a pawnshop owner who "ripped" the seller, that's close to 100%.

If you mean "ripped" by a collector who knew more than the pawnshop owners, also 100%.

ModernCrapNut · August 9, 2007 4:06AM

Hey gar, good to see you back.

JJM · August 9, 2007 5:21AM

at one point or another...........

fc · August 9, 2007 5:45AM

i want to say it is a 50-50 chance that is becoming less and less over time. it seems things like ebay would skew the numbers a bit as well as the overall decline of pawn shops (at least where i have lived!).

coinsarefun · August 9, 2007 5:55AM

I think it depends on the location. Here in the greater L.A area I would guess somewhere greater than 85%
Other area's in the country would be much less IMO

Boothill40 · August 9, 2007 6:09AM

78%

shorecoll · August 9, 2007 11:37AM

A woman who worked for me stole her grandmother's BU 12 piece gold type set and sold it to a pawn shop as bullion (to buy drugs),
then asked me what it was worth. Granny's only recourse would have been to send her graddaughter to prison. So was it stolen?

topstuf · August 9, 2007 12:08PM

As a former (retired) pawnbroker I can tell you practically NONE. Stolen JEWELRY may go to a pawn shop, but even on that the records of pawnbrokers are nearly ALL computerized. Makes it a BAD BAD place to "off" hot stuff.

In California, there's even a neat lil law called PC 484.1

"484.1. (a) Any person who knowingly gives false information or provides false verification as to the person's true identity or as to the person's ownership interest in property or the person'sauthority to sell property in order to receive money ..... etc"

And this lil law makes GIVING FALSE INFORMATION to a pawnbroker a SEPARATE crime from the initial crime.

So..... Mr. Badguy gets to address at least TWO charges.

We prosecuted EVERY stolen property case on 484.1

Many DAs do not LIKE this law as it is another hassle, but they MUST if demanded.
We demanded.

Few stolen coins come to pawnshops because a coin dealer will usually offer more. We were ALSO a coin shop so that didn't apply to us.

However, we got VERY few stolen COIN cases. Most were jewelry.

Most coin shops don't have the security cameras and all the forms to fill out.

So it's usually best to try the flea markets, antique stores and even JEWELRY stores as a good crook knows that THEY do not have to report anything.

MANY "jewelry" stores are set up solely as fronts for fences. Getting a jewelry store business license requires nearly nothing.

A PAWN license even requires the applicant to have at least $100,000 exclusive of house as his net worth.

Pawn shops get a lot of flack from the ignorant.

topstuf · August 9, 2007 12:11PM

I should add that many people call places "pawnshops" that are not licensed pawnbrokers.

One of my pet peeves was folks who said "I wanna pawn this" when they MEANT they wanted to SELL.

Just a part of the bizz.

topstuf · August 9, 2007 12:14PM

<< <i>Granny's only recourse would have been to send her graddaughter to prison. >>

OH BOY! That's the hot button. I returned NOTHING to people who would not prosecute the thief.
In a prosecution I could demand RESTITUTION.....as a....CONDITION... of ....probation.

Pay me back or sit in jail. Their choice.

Screw Granny if she's gonna let the kid keep the money for STEALING!

carl · August 9, 2007 12:20PM

topstuff, you just got to come here to Chicago. I think you would be shocked at what is reality here. Pawn shop people are regularly arrested and right back at it the next day. I know of a certain flea market where a pawn shop person sells so many items that apparently came from mysterious places and no receipts are given. At pawn shops here you could find almost anything up to anti-aircraft guns. And I'm talking about the pawn shops in areas where it is safe to go at night. Almost safe that is. Speaking of guns did you hear about the gun turn in we just had. About 7,000 turned in by people in Chicago alone. Dosen't touch the amount available. As to the percent of stolen coins taken in at pawn shops here, possibly 100% or more.

POLL: What percent of coins at pawn shops are stolen?

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