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 Replies: 20 / Views: 3,705 |
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Valued Member
United States
122 Posts |
Just curious, I know I have done the in person purchase with a coin dealer as well on line coin purchase. I also recently had been given a lady Mercury dime as change from a mom and pop store. what I have not done is walk in a pawn shop to see if there are good coins there. If so I wonder if I can get a good deal on them. so, my question is has anyone been to a pawn store and if you have was the experience good or bad about purchasing a coin ? |
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Pillar of the Community
United States
9792 Posts |
I hit pawn shops all the time, they are usually priced way more than I would pay on common stuff. However once in a while I find a VAM that is desirable and marked at close to silver! "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Bedrock of the Community
Australia
21786 Posts |
I collect World coins all centuries, all cultures. With that sort of wide numismatic spectrum, you would think it would be possible to strike it rich one in a while.
With pawn shops, no luck for Me!
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Moderator
 United States
56855 Posts |
I bought a coin at a pawn shop once with the intent to sell it right after to my regular coin shop, it was a common date merc. I sold it 20 minutes later and made a 20 cent profit  , can't retire just yet though. I find the prices too high and the selection too low at pawn shops. John1  |
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Pillar of the Community
United States
524 Posts |
I have found some great deals at pawn shops. Most over price stuff but sometimes they either don't know what they have or just need to move some merchandise. I also have one pawn shop that sells Morgans and Peace dollars at $1-$2 over spot. I picked a few up for my Peace dollar set at a pretty low price compared to the coin shop or ebay. Also, look for coupons or chamber of commerce cards for your town on discount. I picked up some coupons on a radio auction for half price and got 22 Mercs and 8 Barber quarters for $37.50. I sold the quarters for $40 and the Mercs were pure profit. I also picked up a big bag of world coins for $13 and found several silver coins that paid for the bag. |
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Bedrock of the Community
United States
20753 Posts |
So far never anything at all at those places. A few don't even want or sell coins. I've tried many of them and just nothing worth buying.
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Pillar of the Community
United States
1388 Posts |
pretty good deals if you work at it... Remember, at pawn shops, just because there is a price tag, doesn't mean that's what you will pay for it... It's a negotiation, and they understand that, because they prolly got that coin a lot cheaper that you think...
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Pillar of the Community
 United States
2448 Posts |
The pawn shops near me don't want to negotiate! I used to love to drive them crazy, but now it's to much work.
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Pillar of the Community
United States
1388 Posts |
It never hurts to try! I saw a guy on here somewhere that got a barber and a Standing Liberty quarter for just above melt. They were in such nice shape that the consensus was that they were worth triple what he paid for them. |
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Pillar of the Community
United States
863 Posts |
Yea I have a pawn show that I walk to a few times a week because he sells all of his coins around 19.75 for a dollar face. Silver dollars included. I'm getting morgans for under 20 bucks
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Pillar of the Community
527 Posts |
There's only one pawn shop that sells coins for good prices. The other ones are horrible or mediocre.
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Valued Member
 United States
122 Posts |
well, I went to 3 pawn shops so far. one just bought silver and gold, the other had a nice 3 cent nickel but no price the guy didnt know what to quote me and said he would have a high price. the third one had a lot more coins the rates seem ok but I'm not sure, they were not graded. what caught my eye is this place had about thirteen 1922 Peace dollars in descent condition for $35.00. I was tempted but didnt buy. ebay has them going for about $28.00 right now. |
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Pillar of the Community
United States
863 Posts |
yea 35 on a Peace dollar is pretty high. he probably priced them when silver was up over 40. I dont understand why pawn shops over price their stuff. they make their money by moving product not sitting on it. |
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Pillar of the Community
Canada
3692 Posts |
I hate it when pawnshops compare their prices to ebay prices. That's completely unrealistic. I throw them offers because they're legitimate offers. I tell them straight up, go ahead and list your coins on ebay. Number one there are listing fees, and then a time limit where you still have to hold the coin, then you have to ship the coin which takes up up manpower and money, and most of the time the "prices" on ebay are Buyitnow. So if they turn down your offer just walk away and wish them luck because they just lost a guaranteed sale of "now" versus one that MIGHT happen later. Pawnshops, for me, are hit or miss. And since they use online prices it's mostly a miss. You have to remind them, "we're not online, we're looking at each other face to face, do you want a sale or a 'ya i'll do it later?' " Most of the pawnshops I've been to have coins on display in their window or in their case and when asked they say that they're not for sale. REALLY? You draw me in and you don't even want to sell anything? That's shady. It makes me wonder how the heck they make their overhead. And then other shops just hate coin collectors. There was one shop I went into, and after browsing the display case for maybe ten minutes he says he's closing. I left without buying anything. Before he mentioned this I asked about an 8 Reale piece he had, and asked what the mintmark is, and he tells me it's "$29, it is what it is". I'm thinking.....REALLY? All of his coins were way overpriced and he didn't even want to bargain. Sketchy! Edited by Libertad
04/10/2012 10:42 pm
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Pillar of the Community
United States
863 Posts |
yea I dont understand what they think. I thought they are in the business of buying and SELLING. as long as they make their profit why wouldnt they sell it. the faster they sell the faster they can put the profit back into another item. sadly a lot of stores just seem to hoard
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Pillar of the Community
Canada
986 Posts |
Most of the pawn shops I've been to are over priced. However, I did find one that sells me junk silver coins at spot price whenever I want some.
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Replies: 20 / Views: 3,705 |
Posted 04/09/2012 03:04 am
