Stopped by a pawn shop on the way home.......

BigRed · November 11, 2008 7:01AM

There are no coin shops within 50 miles of me so I get desperate sometimes. I stopped in this pawn shop that set up shop in the town near me and walked through the door and the first case there was a fairly large case of coins neatly diplayed. The owner greeted me with a friendly hello and a big smile. Great so far raced through my head but it quickly went downhill after that. I looked at the coins and they were essentialy 90% silver coins displayed very nicely. Lets see, he had several late date mecury dimes in VF-XF for $5 and up, walkers VF-XF $20 and up, and common VF and XF peace and Morgans for $22 and up. The one for $22 was a peace dollar in XF and had written "super value on it". Man I sure would like to have a fix but the high wouldn't last long at them prices.

coindeuce · November 11, 2008 7:38AM

In a situation like that, you should impress upon pawn troll the fact that you can provide him with all of the XF 90% he can handle at the bargain price of 50% of his retail selling price

Tyler1924S · November 11, 2008 7:57AM

I haven't had that particular problem with pawn shops. However, they tend to be a dumping ground for problem stuff. They'll usually have hairlined/cleaned MS Silver of all types that has been turned away by coin shops. Often, it will be very subtle, lightly cleaned stuff that most of us would catch, but has slipped passed the pawn shop owner (non collector).

Having said that, I have found some great bargains, like undergraded Buffalo's (graded by "Red Book" standards). Also, coins where they just don't know what they have, because they're not usually "coin people".

coindeuce · November 11, 2008 8:04AM

<< <i>Having said that, I have found some great bargains, like undergraded Buffalo's (graded by "Red Book" standards). Also, coins where they just don't know what they have, because they're not usually "coin people". >>

Ya mean sumthin like MadMarty's pawn shop pick of a '93-S Morgan?

Tyler1924S · November 11, 2008 8:09AM

>>

Ya mean sumthin like MadMarty's pawn shop pick of a '93-S Morgan?

>>

Yeah, that too. I hadn't heard about it. I'll have to look for that thread.

beartracks42 · November 11, 2008 9:26AM

While you are looking for the 1893-S thread, look for the 1939 "Mint Set" thread that he bought from the same guy.

ksteelheader · November 11, 2008 9:37AM

I picked up a 1971 Proof set for $3.00 at a pawn shop in the summer of 2007 and found this in the set. Sold it for one grand.

BECOKA · November 11, 2008 9:45AM

A year or two ago I stopped at a pawn shop and asked if they had any gold. He pulled out several trays full of stuff. I started looking at the prices and asked why they were so high.

He said he had a book on grading and was selling them accordingly. i.e XF45 saints were going for MS65 Money.

Tassa · November 11, 2008 10:14AM

I stopped by a pawn shop on the way to a coin shop just to see if they might have anything. Just for the heck of it, I asked what they'd pay on a 1 oz K-Rand. He offered me $365 when the gold spot price was around $780.

COALPORTER · November 11, 2008 10:30AM

<< <i>I stopped by a pawn shop on the way to a coin shop just to see if they might have anything. Just for the heck of it, I asked what they'd pay on a 1 oz K-Rand. He offered me $365 when the gold spot price was around $780. >>

But then you have 30 days to buy it back right? It's a pawn shop, which is really a high risk lender. The pawn shops around here don't like coins because the pawn broker laws are way different from the coin dealer laws etc,...

BigRed · November 11, 2008 8:24PM

<< <i>In a situation like that, you should impress upon pawn troll the fact that you can provide him with all of the XF 90% he can handle at the bargain price of 50% of his retail selling price

>>

Thats exactly what come to my mind but I am the easy going type that does not like confrontation so I just walked out.

DoUPlayOnePocket · November 11, 2008 8:43PM

I walked into a local pawn shop a couple of years ago, and the owner had a fair-sized display of coins all in PVC flips. I told him that the PVC could damge the coins, and he should consider changing to Saf-T-Flips or just remove them from the flips altogether. I went back to the pawn shop about 3 months later, and he still had the coins in PVC flips.

Chris

keets · November 11, 2008 8:54PM

i work in a Pawn Shop........................

Tbar · November 11, 2008 9:53PM

I have a pawn shop near me that gets some nice stuff in from time to time and he puts it aside for me. I usually get a really nice deal on stuff.

What bothers me is that he does not handle the coins properly. i.e. exposed unflatened staples. I must have told him 20 times not to store them like that.

Stopped by a pawn shop on the way home.......

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