Lurkers! Educate Yourself!
19Lyds
Posts: 26,492 ✭✭✭✭
Before selling ANY coins to jewelers, pawn shops, coin dealers, hotel buyers or whatever, go to www.coinflation.com and LEARN what the precious metal content is for your coin! It may not be a popular collectible worth a bazillion dollars and it meight even be damaged BUT it still has precious metal value!
A relative casually let me know that she'd sold her father's $5.00 gold piece last week. Yes, it had been in a necklace. Yes it had been graded as tooled and damaged BUT it was worth more than the $250 she got just for the gold content.
Why folks continue to GIVE their gold away is just beyond my reasoning capabilities.
Yes, she knows that I know something about coins but failed to get my opinion.
A relative casually let me know that she'd sold her father's $5.00 gold piece last week. Yes, it had been in a necklace. Yes it had been graded as tooled and damaged BUT it was worth more than the $250 she got just for the gold content.
Why folks continue to GIVE their gold away is just beyond my reasoning capabilities.
Yes, she knows that I know something about coins but failed to get my opinion.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
The name is LEE!
The name is LEE!
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A few months later, he tells me that he saw an ad in the newspaper placed by the hotel buyers, and it says that they pay "up to $100,000" for old silver dollars. Thankfully he asked my opinion before talking his coins to the hotel buyers. He avoided the shark tank and their lowball offers of 20 cents on the dollar.
I'd estimate about half the U.S. population tends to be stupid when it comes to money (about half don't save any money at all). Some folks spend months researching a $200 gadget purchase, or spend time each week scanning supermarket ads comparison shopping for $1 cans of tunafish, and but then go ahead and make major financial moves based on a slick ad (radio, TV, or newspaper), and end up getting the shaft.
Another local pawnshop pays $8 per gram. Well a bunch of badmouthing for 2 years plus a smear campaign. They went out of business
<< <i>Hi Lee
Hi Julie! Welcome Back!
It's been awhile.
The name is LEE!
Local B&M was paying $200 for 10 oz. silver bars, $1500 for one ounce AGE's.
His shop seems pretty empty most of the time. Selling 10 oz. silver bars for $350, this was Saturday.
It's his business and can buy at what ever level he chooses. Shop around, know what you have.
<< <i>Ive badmouthed my local pawnshop for his 33% of spot pay rate to the point where he rarely gets scrap.
Another local pawnshop pays $8 per gram. Well a bunch of badmouthing for 2 years plus a smear campaign. They went out of business >>
Kudos! We've a local pawnshop that often pays even less, but since he is the only "buyer" with a physical place of business, people walk in every day. I have a strong belief that many people who do not know the value of what metals/coins they have place trust in physical business locations - be it a pawnshop, coin shop, or the awful hotel buyers. Of course one should do their homework before selling, but I see no problem with someone doing all they can to steer people away from blatant rip-offs.