| Author |
 Replies: 13 / Views: 1,285 |
|
|
Valued Member
United States
346 Posts |
Hey all, I just got back from a 4-day trip to New York (Syracuse/Utica area) and thought I'd share a little story with you guys. One of the days I was there, nothing was really going on, so I decided to go look for coins around town. I didn't find any coin shops, but I did find pawn shops and antique shops, which I figured may hold some interesting things. So I started my search for coins at a pawn shop a few blocks down from the hotel I was staying at. I tried not to get my hopes up (I knew pawn shops were usually pretty awful places to buy any sort of thing) as I asked the guy working there if he had any coins. He proceeded to get a little bag of dimes out of the backroom and empty them in front of me in a little tray. I sifted through them, looking for anything good, and I found an 1899 Barber dime that was badly worn (G-4 is a gracious grade) and asked him how much for it. He gave the coin a quick look and said, "$9". At that point I gave him a funny look and said "9 bucks? This thing isn't worth more than $3, IF THAT." He then chuckled, took the dimes and replaced them into the bag and walked away to go do inventory (without making eye contact or speaking to me again). Another pawn shop I went to had a bunch of coins in a box, sorted by denomination. I noticed a Flying Eagle cent in his foreign coins pile and asked him how much for it, but he too named a random price that I found ridiculous (I don't even remember what it was now). I saw a 2003 Blue Book on the floor and asked him if that's what he used to price coins. I suggested that he purchase a 2008 copy because coin prices have gone way up in the past few years, but he insisted on using his old copy (mainly because he didn't take anything I said seriously, I mean, 16 year-olds don't know anything about coins! Especially ones that have been collecting their entire life...) Obviously I didn't find anything worth buying there either. The last antique shop I found was just a dinky little hole-in-the-wall type place. I stepped inside and the guy working behind the counter was talking to a customer about the gold he was purchasing. I waited a few minutes for him to finish, and then I asked the guy if he was selling coins. Now, and this is the part I don't get- he asked how old I was. I responded, "16," and he then politely asked me to leave his store because he doesn't sell coins to people under a certain age (I'm guessing 18?). I figured that a store with a policy that ridiculous doesn't have anything worth purchasing, so I just shrugged and left. It was kind of depressing, really, but I just thought I'd share my story with you guys. Pawn shops really are awful places for buying coins, especially when they THINK they know something about coins but really don't. |
|
|
|
Valued Member
United States
459 Posts |
TimJing, I wouldn't let these experiences keep you from searching pawnshops/antique shops. There are plenty of deals to be had and diamonds in the rough to be found if you are persistent. The only advice I can give you regarding dealers not taking you serious due to your "age," is acquire the ability to negotiate well and develop thick skin (like a crusty bust). Ignore their stories and just ask "How much?"
He then chuckled, took the dimes and replaced them into the bag and walked away to go do inventory (without making eye contact or speaking to me again).
This is a typical reaction one can expect to receive when insulting a dealer's inventory/price points(even if the prices are out of touch with reality).
|
|
Valued Member
 United States
346 Posts |
Yeah, I'm working on the negotiating part, but I didn't really want to bother negotiating with people like them. I've only tried one pawn shop in my area though, so I guess I can say I have a little experience checking them out for coins, and maybe something good will come out of me visiting more local ones.
|
|
Member
United States
1154 Posts |
|
|
Pillar of the Community
United States
2443 Posts |
Don't give up on the pawn shops. I found some nice deals at some,and I'm going to start going to some again. I think the reason that other broker told you that he doesn't sell coins to people your age is because he probably had gold coins and figured that it was out of your price range and didn't want to bother taking them out.
|
|
Valued Member
United States
346 Posts |
That would've given me some satisfaction though, to whip out a money clip with hundreds and hundreds of dollars after something like that... "You still sure you don't want my money?"
|
|
Valued Member
United States
406 Posts |
In "less-civilized" areas like Southwest Virginia, I have friends who can go to (certain) pawn shops and buy bulk silver, because the guys priced it 2-3 years ago and don't stay on top of the market. Small quantities usually, but there is money to be made. Superior knowledge always pays off.
|
|
New Member
United States
16 Posts |
What did you expect in a large city such as NY
|
|
Valued Member
United States
346 Posts |
I wasn't in New York City. I was in the Syracuse/Utica area. Nothing but relatively small towns there.
|
|
Valued Member
United States
383 Posts |
Sorry to hear your experience. I was in Boston this past week and stopped in two coin shops on Tremont Ave. near Boston Common. Both were great despite my saying up front I wasn't looking for anything in particular. Just in town for the week and looking for something I might not see by me. It may be more the personalities of the people you dealt with rather then big city/small town issues.
Joe
|
|
Bedrock of the Community
United States
20753 Posts |
Just have to go to pawn shops in the Chicago area. Especially on the near South side of town. Of course don't try it late at night. We have many areas where you can go into a pawn shop and by the time you start to leave you'll see your car's tires for sale across the street in another pawn shop. A freind of mine buys many cameras at such places and sells them on ebay. According to him he makes lots of money doing that. As to coins, so far I've had no luck finding any in pawn shops although as that freind of mine says, you have to go to the same one frequently so they know your not a cop. Then they will bring out the stuff from under the counter. |
|
Pillar of the Community
United States
2443 Posts |
quote:
Especially on the near South side of town. Of course don't try it late at night. We have many areas where you can go into a pawn shop and by the time you start to leave you'll see your car's tires for sale across the street in another pawn shop.
Is that even worth it try to find a good deal on a coin but risk getting killed? |
|
Bedrock of the Community
United States
20753 Posts |
Is that even worth it try to find a good deal on a coin but risk getting killed?
For real, NO. And it does happen frequently around here.
|
|
Valued Member
United States
204 Posts |
I work in NY (the City) occasionally. Near where I work on 47th is a whole row of jewelry dealers who also get in piles of coins from estate sales. If you're ever in the city it's worth the look. Also go to Stack's up on 57th if you're in the city just for the experience. I've only been there once, but it was worth it just to see someone bringing in at least $250k worth of coins for an auction.
|
| |
Replies: 13 / Views: 1,285 |
|
Posted 07/21/2007 9:27 pm
