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 Replies: 54 / Views: 5,434 |
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Pillar of the Community
United States
1721 Posts |
I wanted to share a brief story. My friend is an investment advisor and one of his customers needs money but doesn't want to liquidate any of her paper like the 401K, stocks, CD's and other personal property. However, she's looking to sell part or all of her husbands coin collection. I got the referral and I'll be meeting with her tomorrow morning. When she called me I kept our conversation brief and did not want to sound overly eager. I could tell you guys I was shaking inside.
According to my friend, she's not hurting for money due to bad times she just doesn't want to dip into her retirement funds. All I know about the collection is there is gold and silver coins plus a 100 ounce silver bar. I asked her if the coins were bullion or US currency and she thought there was both.
Anybody got a sleeping pill? I think I'm in for a night of tossing and turning. I hope it's a winner and I have lots of cool stuff to share with you guys and fill the bank box (or boxes I hope). Wish me luck.
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Moderator
 United States
14463 Posts |
hope you get some sleep, and hope it works out for you and her  |
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Pillar of the Community
United States
8520 Posts |
Too bad you couldn't have snagged the hundred ouncer a few weeks ago.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Moderator
United States
16679 Posts |
That's awesome! Hope it works out for you both.
swcoin.ecrater.com
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Pillar of the Community
 United States
1721 Posts |
Yes. I'm glad to hear your responses regarding my potential seller. I'm not going over there to take advantage but I'm not paying spot on bullion and retail on US coins either. We all want a good deal. I'll pay retail for groceries, not coins. |
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Pillar of the Community
Canada
4944 Posts |
Sounds Awesome, Keep up posted.
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Pillar of the Community
United States
1348 Posts |
I collect and buy/sell. I usually pay 85% spot if I know i'll have a quick turn around. I'll pay 75%-80% if it'll take time.
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Pillar of the Community
Australia
4411 Posts |
Theres nothing worse than lining up a potential deal, getting all excited and then learning its not what you expected. I'm hoping this doesn't happen for you and youre completely blown away with the collection!
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Valued Member
United States
200 Posts |
Best of luck. Hope you get a great deal. DO keep us posted.
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Pillar of the Community
United States
7840 Posts |
Where is the husband and does he know she is doing this to "his" collection?
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Bedrock of the Community
13014 Posts |
Quote:
Where is the husband and does he know she is doing this to "his" collection? That was my first thought as well. I could easily see an angry husband when he figures out what happened to his collection. May want to confirm with him first that its alright |
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Pillar of the Community
Australia
7096 Posts |
Quote:
Quote:
Where is the husband and does he know she is doing this to "his" collection?
That was my first thought as well. I could easily see an angry husband when he figures out what happened to his collection. May want to confirm with him first that its alright
Good point If my missus ever tried to flog off my collection there would be merry heck to pay  |
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Bedrock of the Community
13014 Posts |
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If my missus ever tried to flog off my collection there would be merry heck to pay I could only imagine. I could see divorces happening from something like that |
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Pillar of the Community
United States
3184 Posts |
make sure the husband knows and the wife isn't stealing them or something
Offer her a fair price, no cash for gold prices
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Bedrock of the Community
United States
20753 Posts |
Hate to add a pessimistic thing here but who is going to authenticate those items? Remember many people have purchased counterfeits without knowing. Hopefully these are not like that. AND I too wonder about her husband. Has he passed away? Gold and Silver coins? Again, hopefully all are real. Hopefully you know how to tell if real. Good luck.
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Pillar of the Community
United States
1721 Posts |
First, before I head out to meet her I'll let you guys know her husband died about 5 years ago. He left her a nice sum but it is all tied up in paper. I slept OK last night but I had a dream I missed the appointment and I was flipping out. As for fakes, I've been dealing in coins and precious metals long enough to know better. I'm no expert and know just enough to get in trouble. I have a certified scale, powerful magnet and acid tests (not for coins). You may ask, why is your scale certified? Because I own a pawn shop and in order to have a pawnbrokers license (where I live) you need a precious metals license too. You need to have your scale certified (and a bond) to get your precious metals license.
In the last 6 years I made two mistakes (not counting the handfull of small ones). About 2 years ago, I bought a 1922 (no star) Grant 1 dollar gold coin. It was in a gold bezel and I paid 450 dollars for it. I carefully removed the coin from the holder and sent it to PCGS. The coin came back as 'Questionable Authenticity' and they did not slab it. I showed it to a self proclaimed coin expert and he said PCGS was wrong and the coin was good. He eneded up trading me for the coin and I ended up getting my money back. I don't know what he did with the coin and I didn't ask. I was honest with him, that's all that I can tell you.
My second mistake was with a watch. Not a Rolex, I'm pretty good with those but this was an Omega Divers watch. I decided not to remove the back of the watch because I knew it was good. Of course it wasn't and I lost 500 dollars. My shop is very small and I do a small amount of pawns compared other pawn shops but I pay more (we all say that) than the other shops within driving distance so I get a lot of 'word of mouth' customers. Like Richard Nixon once said: "I am not a crook."
On paper, you lose your pawn after 30 days including a 15 day grace period. I have customers who are 4-6 months late and I'm still holding their item(s) because I want to be a fair guy and I know times are hard. I have a huge number of repeat customers because they know at my shop if you're a little late, you will still be able to get your stuff back and I NEVER charge all the fees I'm allowed to charge. I have never charged a late fee and I've never charged a lost ticket fee. Other shops are not so forgiving. I call these 'chicken sh*t fees' and I refuse to be a d*ck like other pawn guys. And remember this, what you see on Pawn Stars is rehearsed and most of it is pure BS designed for entertainment purposes.
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Replies: 54 / Views: 5,434 |
Posted 09/21/2012 9:18 pm
