New Pawn Shop With Coins - Coin Community Forum

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Author	Replies: 4 / Views: 1,285
Tim Stroud Pillar of the Community United States 2661 Posts	Posted 09/07/2012 5:29 pm Stopped at the newest Pawn Shop in town today to see if they had any coins for sale. They had about 40 ANACS Morgans and Peace dollars along with several hundred ASE's. I was excited at first until I saw that nearly all of the graded coins had "Details" grades on them and the prices were over FMV to boot. Saw an 1880 CC Morgan, VF35 Details, Re-Engraved/Cleaned. Asking price? $299! 1878 CC Morgan, VF20 Details, Cleaned, $199. 1892 O Morgan MS60, only $325! I asked the guy behind the counter why the coins were priced so high. He said that they were all rare coins and are probably worth more than what they were charging. He also informed me that they had a "coin expert" who worked right there in the store who looks up the prices for them. The ASE's were priced according to their age, the older they were the more they charged. The price for an ASE started at $69 for a 2006 and went up from there. The oldest one they had was a 1990 for the low, low price of $99. These were all bullion ASE's, no proofs in the bunch. I told the guy that I was not interested at those prices so he informed me that if I saw anything I wanted I should get it now because they have a guy that comes in every 2 weeks and drops no less than 3 grand on their coins and that he would probably be in tomorrow. This place has only been open a couple months and I think my first visit will be my last. Edited by Tim Stroud 09/07/2012 5:31 pm Report this Post to the Staff

Kefiroth Pillar of the Community United States 1431 Posts	Posted 09/07/2012 5:57 pm Yup. Sounds like your average pawn shop. Report this Post to the Staff
Spider5689 Pillar of the Community United States 2269 Posts	Posted 09/08/2012 12:18 am If you go back in 2 weeks, i'll bet those coins will still be there. Report this Post to the Staff
Tim Stroud Pillar of the Community United States 2661 Posts	Posted 09/08/2012 09:56 am I have another Pawn Shop in town where I get really good deals on silver coins. These guys will sell for just a few percentage points above melt. I recently scored a very nice 1901 O Morgan that might go MS63 along with a couple of Peace dollars, 3 G4 Barber dimes, 2 VF Seated dimes, and a VF Half Dime. Traded a 4.9 Gram 14K ring I found metal detecting for the lot. They offered me $120 for the ring but I suggested the trade instead. I am considering sending the 01 O Morgan in for grading since it is in such good shape. Report this Post to the Staff
Gothic Florin Pillar of the Community United States 2541 Posts	Posted 09/08/2012 10:20 am Zoinks. That's a terrible waste of $3k! Report this Post to the Staff
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