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 Replies: 11 / Views: 6,077 |
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Pillar of the Community
United States
589 Posts |
Well I thought I had a place where I can get a lower price on junk silver 90% US coinage. I went and bought 20 Junk silver Roosevelt dimes for $26.00 yesterday at a pawn shop around here that has multiple locations. I thought I had a deal going with 2.00 face junk silver for $26.00, so I called them up and asked for 2.00 face junk silver Merc,s and he quotes me $26.00 for 15 not 20 of them. I said silver hasn't moved much why $26.00 for 15 merc's ? Well they are a older coin series so they sell for more than Roosies. So I called the local coin shop and they qouted me $28.00 for $2.00 face junk silver and they said coin series don't matter, that they go by face values. Anyone here ever deal with something like this before? I am trying to finish up my junk silver rolls so the type of coin matters as I need 2 merc's, some Franklins, Walkers and JFK's to finish what I started for then I am onto bullion coins, rounds and bars that strike my interests. S.T. |
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Pillar of the Community
United States
2130 Posts |
I think that is pretty common..Mercury dimes usually carry a slight premium over Rossie's.
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Pillar of the Community
United States
4333 Posts |
My LCS is about 13 times face on everything except silver dollars. Usually I hear of premiums only on 90% Kennedy halves. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
05/01/2015 12:33 pm
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Pillar of the Community
United States
898 Posts |
See if you can buy Rosies at the pawn and sell them for more at the coinshop. Worth a shot at some easy arbitrage
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Pillar of the Community
United States
808 Posts |
I've always gotten my best deals on 90% at my LCS. More knowledge, less nonsense.
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Pillar of the Community
 United States
589 Posts |
I went to my LCS today and they even let me cherry pick through the 90% silver dimes and quarters for 13 times face. Once my half dollar 90% rolls are completed I will only stack only the quarters to complete rolls.
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Pillar of the Community
United States
1373 Posts |
If there are ANY coin shops in my area (Detroit) that sells silver coins at a "X-times-face" rate then they are hiding from me. All of the shops I've visited have ALL coins in 2x2's, or slabbed, and are marked and priced at condition rates. They will make deals (lower prices) of course, but most often when you buy in bulk. The pawn shops I've checked will sell items raw and at a "X-times-face" level, but at a ridiculous rate. For instance, they might pay eighty-cents for each Mercury dime, and sell them at $4.00 each, no matter what date or grade. I tried buying junk coins from them in the past but almost fainted when they told me what price they wanted. My best (and current) advice is to check out "We Buy Gold" shops. Often they are midway between coin shops and pawn shops. The one I visit often normally has buckets pull of silver coins that I can cherry-pick through and buy at reasonable prices. Of course, not all "WBG" shops will even sell any coins at all, but every so often a good one can be found that collectors can take advantage of. |
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Valued Member
Australia
208 Posts |
I think paying just a little more for Mercuries or Franklins is OK - for example $13.50 for each $1 face value vs $13.00 for the other coins, but that is about it. With patience though, you can often find them for the same price. Pawn shops sometimes have good deals, but more often than not, no. I got a nice (AU or better) Morgan dollar for $15 + tax at a pawn shop through a Craigslist ad. Good deal, but probably just one of those "get them in the store" promos, not typical pricing. Anyway, I was very pleased, so I went to about 8 other locations of the same chain of pawn shops. 2 of the 8 had competitive prices such as silver dollars for $21, or silver Washington quarters for about 13X face value. The other 6 were way overpriced, such as common one ounce bullion coins like American silver Eagles and Mexican Libertads for $29, or 90% silver coins for 20X face value. LCS's are generally a better avenue than pawn shops for me. Still, it is fun to shop around. Edited by Misterpostman
06/08/2015 08:42 am
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Pillar of the Community
 United States
5828 Posts |
My pawn shop sells silver this way: -Dimes for $3 -Quarters for $8 -40% Halfs for $8 -90% Halves for $18! -Dollars for $35. Even the cull ones.  |
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Valued Member
292 Posts |
Run from that pawn shop...
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Pillar of the Community
United States
1373 Posts |
COTW, your's sounds like one of the pawn shops I've visited in the past. I remember checking the place out once and I found four or five silver coins I was interested in. When I asked "How much?", the counter guy called over 'The Boss', who looked at the handful of coins for about three seconds then told me his price.
If I remember correctly, all I did was roll my eyes and walk out. I haven't been to that shop since.
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Pillar of the Community
United States
757 Posts |
At least your pawn shop sells silver. I asked one time at the local pawn if they sold junk silver and his response was "silver is silver I melt it all". I asked if I could go through it before he sent it to be melted and he told me to "stop wasting his time and leave his store". I've never been back.
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Replies: 11 / Views: 6,077 |
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Posted 05/01/2015 12:32 pm
