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Pawn Shop Shoping

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Bedrock of the Community
United States
20753 Posts
 Posted 02/21/2015  4:48 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
I went to a pawn shop in Ft Smith, Arkansas once. Keep trying to buy stuff that was on display but the owner wouldn't price anything.

I told him he should change his sign from "Pawn Shop" to "Museum".

He asked me to leave!

Sounds like the ones around me. Actually many really don't want you in their place at all. Some are just fronts for other STUFF and normal customers are just not wanted. By me there are restaurants that are never open, cleaners too that are never open. And many pawn shops a person has to ring a door bell just to get in and then your kind of told nothing if for sale today. One by me told me they don't deal in coins yet the counter had all kinds of coins in it.
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Stacker82's Avatar
United States
157 Posts
 Posted 02/21/2015  6:33 pm  Show Profile   Bookmark this reply Add Stacker82 to your friends list Get a Link to this Reply
So, I went and picked up a few things, this antique store has about 90 people who run consignments in this one shop, then across from it are about 6 other shops of antiques, one has a $30k wooden carved bar for sale... so ya, that's the kind of community I live in (in a discussion on another member building a room to show off what he has is what I'm relating that to) Anyways I bought a few things, 2 JFK 40%'s for $4, in great condition, except one side is like fully green. Then I bought an OLD pipe wrench where there are no teeth, everything is flat, so it'll be perfect to hold on to so sterling or gold, then I went to the section where the coin was, I asked about a turquoise pendant first, and it was something like $90, I said uhhh no, he said "but it's sterling".... I said, yes, it is (he was talking about the backing or something, who knows. Anyways I bought a 2 peso ring incased in 14kt gold for $110... probably over paid a tad, but whatever, cool pinky ring when I feel like getting dressed up, I wear it with an 8 oz sterling silver necklace I have, as well as around a 30 gram 30" necklace with an turquoise pendant. So, ya, cool deal, went on to Hobby Lobby to find some stuff I needed for casting some silver with delft clay I just got.
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Stacker82's Avatar
United States
157 Posts
 Posted 02/21/2015  6:43 pm  Show Profile   Bookmark this reply Add Stacker82 to your friends list Get a Link to this Reply
Carl, can you explain what you think may be going on in these shops? Like a store front to launder money? I've never walked in to a store and been made to feel like I'm wasting somebody's time, other than a coin store near where I live, which is very well known for this problem. I last about 5 minutes in that shop and left. "What do you want?" "I dont know here's a bucket dig through it..." uhhhhhh huh did I do to you? I'm trying to give you money, cash, not a check, not a card, cold hard cash that can't be counted.... So anyways Carl, I'm curious as to what you mean, there's a place I refuse to go to, thats kind of like a pawn shop/gun shop and he used to sell silver there, the guy was a moron, he basically priced it so high it wouldn't sell. Just like the pawn shop owner who was trying to hawk a 2012 panda for $90, not even knowing how to tell the simpliest form if the coin is in it's original capsule.
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SPQR's Avatar
United States
327 Posts
 Posted 02/23/2015  10:08 am  Show Profile   Bookmark this reply Add SPQR to your friends list Get a Link to this Reply
Pawn shops here are laughable. I'm talking junk silver quarters for $9.99, proof sets from the 80's for $50,ASEs for $75 or more, well-circulated Ike dollars for $4-5 each. Most remarkable lately- $2 bills, circulated, only $6.95
Bedrock of the Community
United States
20753 Posts
 Posted 02/23/2015  10:51 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Carl, can you explain what you think may be going on in these shops? Like a store front to launder money?

There are pawn shops everywhere around here. Most have barred windows and doors. Many appear to never be open. Same with many places that are there for years, appear to be well kept, yet never open. I have no idea what they are doing and really don't want to get involved. IF I get into one of those places and they tell me nothing is for sale, I just leave. If they have coins in the window, in a show case and they say they don't deal in coins, I just leave. So many places around me are like that and I really don't care as long as it's none of my concern.
I'll just stick to coin shows for coins.
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Stacker82's Avatar
United States
157 Posts
 Posted 02/23/2015  4:22 pm  Show Profile   Bookmark this reply Add Stacker82 to your friends list Get a Link to this Reply
Wow, that's pretty crazy, I've lived in a lot of places due to being in the military, and never seen a shop open that won't sell anything, or say nothing is for sale. I'd walk straight out too, one of my favorite shops is in a very bad part of the city, and right next door is a blacked out massage parlor that I see peope going in and out of constantly when I'm in the coin shop, and right next to it, is a $10 hair cut place, a laundry place and a liquor store, and then this coin store owned by a white couple, the rest are all Asians..... something seems weird to me about the placement of the coin shop,but who am I to ask any questions?
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Bertensgrad's Avatar
United States
1192 Posts
 Posted 02/23/2015  5:11 pm  Show Profile   Bookmark this reply Add Bertensgrad to your friends list Get a Link to this Reply
There is a coin shop near me that is just a club for buying coins. Makes me think that it's more of a card game operation.
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Stacker82's Avatar
United States
157 Posts
 Posted 02/23/2015  6:22 pm  Show Profile   Bookmark this reply Add Stacker82 to your friends list Get a Link to this Reply
I'm sure not business, is legit, especially in coin shops where everything is cash only.... I think in my 6 years of collecting, I've been to 1 coin shop that accepted cards. No places even have an option for it (Yes I know they charge for every transaction, but it can't be that much or else my comic book shop I go to wouldn't accept credit card payments, as their margins aren't high) coin shops, honestly since day 1 have seemed like fronts for something else to me. Yes, you have the owner who is in to the coins and knows about them and is the face of the shop... but cash only.... means government stay away.... which I like, but also this is the only kind of business I've known for that to be common place.
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Joe2007's Avatar
United States
3843 Posts
 Posted 02/23/2015  8:15 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
Some of the pawn shops and "we buy gold" type shops in my area were/are like that. They don't sell coins to the general public, they only buy them for heavily discounted prices and then either sell then to a more reputable dealer up the food chain or on ebay. They really don't want knowledgeable collectors to see what is going on behind the curtain where they buy estates at 1/3 of the actual value. A lot of these types of dealers popped up during the big run up in precious metals/great recession but have gone bust in the last few years due to the lower price of precious metals. Good riddance. One of the big pawn shops in my area that built a large new fancy showroom but only sells cheap imitation jewelry, electronics, and musical instruments. I wonder where the good stuff they buy goes?
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Stacker82's Avatar
United States
157 Posts
 Posted 02/23/2015  9:18 pm  Show Profile   Bookmark this reply Add Stacker82 to your friends list Get a Link to this Reply
Ya, I've asked before, the pawn shops as far as coins go, and they say they do get them in... the one I'm describing told me he doesn't put all of them out, he didn't tell me what he did with them, and when I looked on their website I didn't see any coins being sold or had been sold when I looked at their sell history of item descriptions. I've always been able to pay with a credit card at these shops, but coin shops are cash only. I've actually had a place in WA, try and get me to take a check instead of cash (no I do not live in WA) and I said noway, you guys want cash only and are trying to give me a check? They went to the bank and got cash. Where I live now, like I said I do not go in to pawn shops thinking I'll find something, I go in hoping, because these guys do not know what coins are worth, most of the time you'll find over priced stuff (like the $90 2012 panda he had for sale.... lol) that maybe you'll find something they missed. Like the antique store I went in to, I just bought a gold ring, with weight of gold, and coin in it, under what it's worth. But one shop I go in to just upgraded from hand written receipts to a computer system, and the other guy hooks me up and trades with me and stuff.
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atticguy's Avatar
United States
1373 Posts
 Posted 02/23/2015  9:57 pm  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply

Quote:
SPQR Posted - Today 11 Hrs 41 Min ago
--------------------------------------------------------------------------------

Pawn shops here are laughable. I'm talking junk silver quarters for $9.99, proof sets from the 80's for $50,ASEs for $75 or more, well-circulated Ike dollars for $4-5 each. Most remarkable lately- $2 bills, circulated, only $6.95



Ha! This sounds like the pawn shop I checked out once, a couple years ago. They had a couple of common silver coins I was interested in;...until they told me what they wanted for them.

Almost all the other pawn shops I've checked out do NOT have any coins available. Every so often a shop might have a few recent uncirculated or proof sets available (also at high prices), but most are always dry of coins.

I might take a drive in the next few weeks and re-check some of the shops I haven't been in for years to see if anything has changed; and I'll pass along any interesting news I see.
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Stacker82's Avatar
United States
157 Posts
 Posted 02/24/2015  12:28 pm  Show Profile   Bookmark this reply Add Stacker82 to your friends list Get a Link to this Reply
If you remember to, I'd like to hear what you find if you decide to go. Thanks!
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