Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Pawn Stars

Next Page | Last 15 Replies
 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 35 / Views: 14,792Next Topic
Page: of 3
Valued Member
United States
371 Posts
 Posted 01/29/2010  7:47 pm Show Profile   Bookmark this topic Add SilverTurtle to your friends list Get a Link to this Message
Does anyone watch this TV show on the History Channel?
Pillar of the Community
United States
2661 Posts
 Posted 01/29/2010  7:56 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
On occasion if I can't find anything else to watch.
Valued Member
United States
371 Posts
 Posted 01/29/2010  7:58 pm  Show Profile   Bookmark this reply Add SilverTurtle to your friends list Get a Link to this Reply
The other day when I was watching Pawn Stars, someone offered to sell Rick the Taj Mahal Sunken Treasure (A Treasure Clump of Rupees) for $700,000
Pillar of the Community
United States
1899 Posts
 Posted 01/29/2010  8:11 pm  Show Profile   Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply
I saw that one, and the one that a lady found a 1932S quarter 30 years ago in a cash register. Saved it all these years....and it was an applied mm.

Topic also discussed here. http://goccf.com/t/56666
Valued Member
United States
371 Posts
 Posted 01/29/2010  8:17 pm  Show Profile   Bookmark this reply Add SilverTurtle to your friends list Get a Link to this Reply
Ah, I did not see that there!
Valued Member
United States
220 Posts
 Posted 01/29/2010  11:58 pm  Show Profile   Bookmark this reply Add dollarcoins to your friends list Get a Link to this Reply
My wife and I enjoy watching the pawn stars and the pickers.
Moderator
Learn More...
United States
23337 Posts
 Posted 01/30/2010  12:42 am  Show Profile   Check echizento's eBay Listings Bookmark this reply Add echizento to your friends list Get a Link to this Reply
I like the show and plan on paying them a visit when I make a trip to LV.
Valued Member
United States
429 Posts
 Posted 01/30/2010  01:14 am  Show Profile   Bookmark this reply Add penny pincher to your friends list Get a Link to this Reply
For some reason I started watching it and now I can not get enough of it. I think what really brings me back is how stupid people are that sell to them. They know up front that there is no way that they will get full value for what they have and the guys on the show usually buy it for 30-50% of the true value. Those guys have the best poker faces and easily take away what you have for nothing. I guess with 20+ years of the business you know how to get what you want and have the buyers on the other end.

I was watching some episodes we had recorded the other night and watched two different episodes dealing with old money. How is it these people live in Vegas and do not know how to use the phone book (or Internet) to look up a local coin dealer or one of the shows that pass through every other month? I just wish I could stand next to them and put my own input in and my own offers for the items.
Pillar of the Community
United States
9483 Posts
 Posted 01/30/2010  01:31 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
I watch it too. Interesting show........
ANA #R3154474
Pillar of the Community
United States
1752 Posts
 Posted 01/30/2010  01:36 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply

Quote:
For some reason I started watching it and now I can not get enough of it. I think what really brings me back is how stupid people are that sell to them. They know up front that there is no way that they will get full value for what they have and the guys on the show usually buy it for 30-50% of the true value. Those guys have the best poker faces and easily take away what you have for nothing. I guess with 20+ years of the business you know how to get what you want and have the buyers on the other end.


Why would any buy/sell business pay full collector value for an item? That would be a kiss of death for a business. What do you think they should pay for an item compared to the true value?

Also, they are buying many oddball items as seen on the show. That means they take the chance that they may not line up a buyer for said item for days, weeks, months and in some cases years. That whole time their CASH is tied up in the item. The longer it sits on their shelf, the more likely they will have to discount it at some point to move it. Every item in a business inventory has a carrying cost associated with it, so that needs to be taken into consideration.

Could people find other outlets to sell their items? Sure...but many don't want the hassle of taking pictures, listing it with a full description, paying the listing fees, paying the final value fees, paying the Paypal fees, waiting for the item to sell, waiting for the buyer to pay, hoping the buyer isn't a scammer, etc. What I am getting at is that there is some value in getting cash on the spot and being done with it, and you neglected to mention that. That's the price you get for taking the easy way out. It's no different than if you or I had coins to sell. We could take them to a dealer for quick cash and less net money, or we could take the time to list them here or on EBay, do all the extra work, and make a few extra bucks.

I dont get why people are complaining about operations like these, yet their own companies may work with similar margins. Do people like this complain about their company when they get their weekly or bi-weekly paycheck deposited into their account? My guess is no, and my guess is that people who complain about businesses like these have never been in business for themselves.

Something to think about before automatically bashing a business. I have seen alot of threads about these guys in particular, but also other businesses like coin dealers where people accuse them of lowballing a customer, but without a full understanding of what goes into running a business.

Pillar of the Community
United States
1283 Posts
 Posted 01/30/2010  01:51 am  Show Profile   Bookmark this reply Add USArmyParatrooper to your friends list Get a Link to this Reply

Quote:
I saw that one, and the one that a lady found a 1932S quarter 30 years ago in a cash register. Saved it all these years....and it was an applied mm.


Did you notice anything about the cardboard flip that quarter was in? She was lying and nobody caught it. It was annotated "1932-S" and "MS65" as if it was plucked (or bought) from a dealer's inventory. She did not just find it working a cash register.
Pillar of the Community
United States
1752 Posts
 Posted 01/30/2010  01:55 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply

Quote:
Did you notice anything about the cardboard flip that quarter was in? She was lying and nobody caught it. It was annotated "1932-S" and "MS65" as if it was plucked (or bought) from a dealer's inventory. She did not just find it working a cash register.


I thought she had mentioned being a collector for years, but I'm not so sure if she really is or just said that. An experienced collector should have recognized it as a likely fake, or brought it to their local coin shop for an opinion and appraisal. :)
Pillar of the Community
United States
3075 Posts
 Posted 01/30/2010  02:01 am  Show Profile   Bookmark this reply Add aladinslamp to your friends list Get a Link to this Reply
well I must say...pawn shops live on EBAY....if you don't know it, but its not the only thing they rely on. think about it....Pawn shops take in every thing from guns to saws...by the way they really stay from coins......but the main thing is any pawn shop buys OR AS THEY SAY LOAN at 10 to 20 percent.....at 20 %plus interest......how can they loose when us poor saps can't make the payment it's gone,,,,,, that's why they list there items at 85 percent of list price......One thing to think of is what is list price? or the suggested RETAIL price anything will sell for,,,,,,that's the 85% deal if you don't know.......
I think a PAWN is the first sent into battle that has NO CLUE as to the outcome......and the PAWN SHOP is like the vacuum cleaner cleaning up the dollars tiddy understood values they reap by us who know little......
Moderator
Learn More...
United States
14454 Posts
 Posted 01/30/2010  09:09 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply

Quote:
I have seen alot of threads about these guys in particular, but also other businesses like coin dealers where people accuse them of lowballing a customer, but without a full understanding of what goes into running a business.

I think you have the wrong idea of what problem most people have about some coin dealers, its not that they make a profit its when they see a key date coin or a high dollar coin and only give the poor old lady something like 1% of the actual value that most people have a problem with. It is these people that as soon as the old lady turns her back he is on the phone bragging to all his buddies how much he ripped this little old lady off who found her husbands coins in their safe deposit box after he died with a letter saying to sell them to pay off the bills so she could live the rest of her life without worries that most people have a problem with. I think every collector of everything worry about the same thing if something was to happen to them and their heirs was to get ripped off because they knew nothing about what you collected. We all know a business has to make a profit and have no problem with that but giving 1% of value is not doing business thats ripping the person off
Pillar of the Community
United States
2170 Posts
 Posted 01/30/2010  09:47 am  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply

Quote:
I think you have the wrong idea of what problem most people have about some coin dealers, its not that they make a profit its when they see a key date coin or a high dollar coin and only give the poor old lady something like 1% of the actual value that most people have a problem with. It is these people that as soon as the old lady turns her back he is on the phone bragging to all his buddies how much he ripped this little old lady off who found her husbands coins in their safe deposit box after he died with a letter saying to sell them to pay off the bills so she could live the rest of her life without worries that most people have a problem with. I think every collector of everything worry about the same thing if something was to happen to them and their heirs was to get ripped off because they knew nothing about what you collected. We all know a business has to make a profit and have no problem with that but giving 1% of value is not doing business thats ripping the person off


You have a valid point. There is absolutely no argument that what you have described happens, & that it is a despicable practice. However, in most of these type threads it seems like 30-50% of the comments are directed at dealers that don't pay 100% of retail.
Pillar of the Community
United States
1752 Posts
 Posted 01/30/2010  10:09 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply

Quote:
I think you have the wrong idea of what problem most people have about some coin dealers, its not that they make a profit its when they see a key date coin or a high dollar coin and only give the poor old lady something like 1% of the actual value that most people have a problem with. It is these people that as soon as the old lady turns her back he is on the phone bragging to all his buddies how much he ripped this little old lady off who found her husbands coins in their safe deposit box after he died with a letter saying to sell them to pay off the bills so she could live the rest of her life without worries that most people have a problem with. I think every collector of everything worry about the same thing if something was to happen to them and their heirs was to get ripped off because they knew nothing about what you collected. We all know a business has to make a profit and have no problem with that but giving 1% of value is not doing business thats ripping the person off


I agree that the scenario you gave is disgusting and sadly it does happen. However, if you read back through the flow of the thread, my post was aimed at the guy who complained about the pawn dealer paying 30-50% of true value.

It amazes me that some people expect as close to retail value as possible and expect cash on the spot at the same time. It simply doesn't work that way. If you want as close to retail as possible, then sell it yourself either online or open your own shop and sell it there. Then you'll find out that you still won't get all you expect because you are having to pay overhead expenses, just like the guys at this pawn shop have to account for when buying items. And you'll find out that you're not likely to sell it right away, nor have cash in hand right away as you wait for the item to sell. In other words, some people are putting no value in the fact that they get cash on the spot without the hassle or work, and to me that is just wrong.

Also, I did mention that the Pawn Stars guys buy alot of oddball items, which makes it that much harder to line up a buyer. Some of the things they buy do not have the same scope of a collector base as do coins (or stamps or baseball cards for example) and are very much niche items. There have been items portrayed on the show that they said have been there for years. That's one of the risks these guys take when buying things.

So I do stand by my original post. As a small business owner, I experience alot of the things I have described, so it's not like I am making hypothetical statements. They are based on experiences I have had with running the business and with dealing with customers. :)
Edited by CoinHunter53562
01/30/2010 10:26 am
Page: of 3 Previous TopicReplies: 35 / Views: 14,792Next Topic  
 
To participate in the forum you must log in or register.



Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2020 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2020 Coin Community Forums
It took 0.67 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05