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 Replies: 29 / Views: 3,902 |
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Pillar of the Community
United States
2335 Posts |
Quote:
Even most pawn shops even if they dont deal in coins at all will offer spot if nothing else You must live in a different area than I do. We now have several we buy gold stores & pawn shops. On scrap gold/silver their offers range from 30-75% of melt....gold/silver in bullion or coin form 50-80%. |
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Bedrock of the Community
13014 Posts |
Trfhrd the cash for gold places I dont consider pawn shops. Good reputable pawm shops will give close to spot. The cash for gold or the ones who deal mostly in gold are basically just like the ones mentioned in the article. Then again a lot is also dependent on who is running the place
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Pillar of the Community
United States
548 Posts |
Please don't lump all cash for gold companies together. While there are many bad ones, there are lots of good ones. Like mine...
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Bedrock of the Community
13014 Posts |
Lobby I apologize if you have a good one. In person from my experience I have yet to see one, but like everything I am sure there are good ones out there
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Pillar of the Community
United States
1796 Posts |
Nah, not all CFG (cash for gold) establishments are crooked. I know of a few local CFGs I'd personally recommend (they buy at 80-90% of spot depending on volume), where a larger bunch of others I'd shy away from (30-50% of spot).
Lots of these "road shows," however, tend to be quite crooked as part of their buying tactics is to swoop in, snatch, and swoop out, literally paying pennies on the dollar. They prey upon ignorance and desperation...
...and many times they are the ones who get duped.
Case and point, a fly-by-night CFGer bought a folio of 50+ silver dollars off of someone, and paid a little over $15 each. They thought they made a killing on that deal, and the customer seemed absolutely thrilled at that price.
Needless to say, they were in tears once their partner ran a strong platter magnet over their catch... and dislocated a finger when they were snapped up onto it. In he end, they weren't only down about a grand, they also had medical bills to tend to. :-)
Moral of the story: Players can and *do* get played.
Secondary lesson: CFGers are a counterfeit collector's best friend. :-)
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Valued Member
United States
458 Posts |
HAHAHA! Thats what the dirty scoundrel gets!
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Pillar of the Community
United States
802 Posts |
People at my local bank went there. I told them if they ever found silver I'd buy it, and they said "no it's okay we get a better price at the hotel coin people." After that arrogance and attitude after I was polite and helpful, I told them I would have paid double what they get at the hotel, but I'm not interested now.
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Pillar of the Community
United States
2335 Posts |
Quote:
Trfhrd the cash for gold places I dont consider pawn shops. Good reputable pawm shops will give close to spot. The cash for gold or the ones who deal mostly in gold are basically just like the ones mentioned in the article. Then again a lot is also dependent on who is running the place In my area we have about a half dozen pawn shops & maybe 10 we buy gold prices. I've been to all of them & I can attest to the fact that the vast majority pay in the 30-55% of spot range. The 2 places in town that pay the most are both we buy gold places. Their initial offer will range from 65-75% & I've heard that if you play them off against each other they will bump it to 85-90%. I don't have experience with playing the 2 best stores off each other because I either sell retail or send to a refiner. The worst places in town pay better than the hotel buyers. |
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Pillar of the Community
United States
4333 Posts |
People in general are quirky. No one is holding a gun to the seller's head. On the other hand, I have offered parties double what the local dealer offers and they STILL sell to that dealer with the mentality that the dealer is a long-established business person and that I must have "something up my sleeve" if I am offering double. Truth stranger than fiction!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
548 Posts |
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Lobby I apologize if you have a good one. In person from my experience I have yet to see one, but like everything I am sure there are good ones out there No problem. Our reputation is stellar. We have a strict code of ethics that we adhere to, and communicate to our customers. Everything is transparent at our shop. And the customers appreciate it. |
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Bedrock of the Community
13014 Posts |
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No problem. Our reputation is stellar. We have a strict code of ethics that we adhere to, and communicate to our customers. Everything is transparent at our shop. And the customers appreciate it. I respect that and wish all those places would be more like that. Theyd probably get more business in the long run too. |
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Valued Member
United States
193 Posts |
I went to one once. I had some gold jewelry and some silver coins. I had a rough idea of what I had and how much it weighed and an approximation of what gold and silver were worth. I went knowing full well that they were going to try to low ball me. I just didn't know by how much.
I had about 22 grams of 14k gold and their firsdt offer was for about $80.00. I politely declined their offer and the guy asked me if I wasn't going to make a counter offer. I said I figured thatwas their best offer. He then said let me talk to my boss. He cam e back and said his boss told him to offer me $155.00. SO basically the nearly doubled their first offer.
I still declined because I figured thatif they went up that much thenit was worth alot more. I left without even showing them the silver coins
While I was there I saw an older lady with a large amount of gold jewelry that the guys offered her about $230.00 for and she was real happy with that.
The long and th eshort of it all was that I put the gold jewelry on e-bay and got $325.00 for it so I know that Old lady got ripped off royally. I kept the silver coins and started collecting more.
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New Member
Canada
12 Posts |
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I went to them about 2 months ago. it is the whole reason I got into coin collecting. I brought a 1883 s morgan in about AU condition and they offered 10 dollars (silver was 35 an ounce). What you bought from them was likely just a counterfeit fake that they wanted to get rid of as there was no way you got a deal from those scam artists. They would sell you something for 10 dollars that they could flip for $20+ unless they knew it wasn't really worth that. |
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Pillar of the Community
 United States
2150 Posts |
Smith23, it says brought not bought.
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Replies: 29 / Views: 3,902 |
First Page
Posted 06/02/2012 3:10 pm
