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 Replies: 48 / Views: 12,736 |
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Pillar of the Community
United States
2120 Posts |
Quote:
If the silver is pure my quess is that Rick will offer about 1/2 half the value.  Somewhere in the 50%-65% range that they offer on all things that come through. It amazes me how they could offer 90% value on something, make a quick $10,000 for basically just being the in between with a wholesaler, but instead try to double their money on every transaction. I can;t call it criminal because they don't lie to anyone or steal, they are just sneaky and not 100% truthful. |
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Pillar of the Community
United States
4008 Posts |
As has been said, "A lie by omission is still a lie".  |
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Pillar of the Community
 United States
3670 Posts |
This new episode airs at either 10 or 10:30 as there is always two new 30 minutes episodes every Monday....
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Pillar of the Community
United States
3670 Posts |
I have never seen the old man move so fast, as when that hoard of silver walked in the door, rof  .... |
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Pillar of the Community
United States
3670 Posts |
One hundred an elven grand! "This is it Elizabeth! This is the big one, I am comin home!!"
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Pillar of the Community
United States
619 Posts |
It's called Gold and Silver Pawn Shop for a reason. I saw a TV interview where they showed off their safes full of silver. The Old Man is a stacker. Rick is pretty good about giving close to melt, and he gave the guy about $28.40/oz. He said it was a dollar under melt at the time. They had 500 1 ounce rounds minted with the Old Man's face on them. They're going to sell for $60 a pop. Great episode; they explained about pre-64 coins, acid testing, etc.
Edited by CPC24
06/04/2012 10:52 pm
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Pillar of the Community
United States
648 Posts |
I saw this episode tonight. Fun to watch and what a massive stack of silver. Sheesh.
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Pillar of the Community
United States
3670 Posts |
"They're going to sell for $60 a pop." Pardon the pun, lol. Great idea though as they can get 50 bucks all day for 30 dollar 90% Morgans or basic junk rounds, so you know they will fork out 60 bucks to get a limited edition 500 Old man round for 60 bucks, whats double spot when pops is on the face, lol.... I would take one with only 500 minted.... First thing pops said when he seen those new rounds...." Five hundred rounds, where is the rest of the silver?" An Rick told him he sold it an the old man went to cursing...."Blankity blank Rick, you know we don't sell silver!" rof .... Rick said the old man likes to sometimes just get out the big bars an stare at them, as do I. I knew I liked that guy for some reason.... Edited by Silverhawk74
06/04/2012 11:20 pm
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Pillar of the Community
United States
619 Posts |
I found one on ebay for $65 BIN. It sold as soon as I found it.  Edited by CPC24
06/04/2012 11:32 pm
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Valued Member
Canada
178 Posts |
Right now the pawn shop's site is down, looks like everybody is trying to buy one right now.
Edited by Center Pin
06/05/2012 01:01 am
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Pillar of the Community
United States
3670 Posts |
How about that, as no surprise as that show has great ratings and you can bet much of the audience is into pm's as many of us....
I first thought of Trav with all his cool unique rounds with the black borders and capsules when he handed the old man the first one oz. round with the border an capsule....
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Pillar of the Community
United States
5862 Posts |
Well, color me surprised! I guess when there is such a ready market for silver and it can be flipped almost immediately, there is no need for all the "we can only pay 50% of value in order to cover overhead" stuff.
If and when it ever comes time to sell my hoard, maybe a pawn shop wouldn't be the worst way to go after all...
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Pillar of the Community
United States
5862 Posts |
Oh -- one other nice thing about that episode was that they showed a bunch of the 100 oz. Engelhard silver bars. I've been telling my wife about them and we've been discussing whether I should buy one the next time silver dips again. The one sticking point was whether people trusted them as much as, say, ASEs and whether they would be easy to sell when the time came. The fact that the guys on the show accepted them immediately without the hesitation they showed for the big bar made my wife feel a lot more comfortable about the idea.
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Pillar of the Community
United States
759 Posts |
Yes, the Engelhard bars were accepted immediately, but don't forget the bid/ask spread and other transaction costs. For example, APMEX, right now...bar for $2952, shipping $24,95. Spot $28.35. At $1 under spot, you're down 8.1% immediately, or silver must increase 8.5% to break even. Just something to keep in mind. If you think silver is going to $50 or whatever, it may not matter to you though. |
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Pillar of the Community
United States
5862 Posts |
Yeah, I'm actually looking at Goldmart, since they have them for sale at only $0.59 per oz over spot. Currently, that's $2,903.70 (with silver at $28.44) and shipping is only $19.95 (free if I order two bars).
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Replies: 48 / Views: 12,736 |
First Page
Posted 06/04/2012 6:24 pm
