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Has Anyone Tried Buying At "Cash For Gold" Stores?

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Valued Member
United States
134 Posts
 Posted 10/15/2015  11:26 am  Show Profile   Bookmark this reply Add mendelman to your friends list Get a Link to this Reply
I always try these places and pawnshops. I found a jewelry store that buys PMs and had a ton of coins which he didn't have time to deal with, so I tested him with a small purchase and he was happy to sell to me for melt. This was two weeks ago. I'm going to make it a regular stop in the future.

I found a pawnshop in the last Metro I lived in that sold coins they acquired at very reasonable no haggle prices. For instance they were selling a complete 16-36 WLH set (AG-F) for $400 and then about 4 months later they had a complete Buffalo nickel set for $199 (with a VF 14-D). I was able to get both of those and flip them for ~70% profit to other coin dealers. Unfortunately, I don't live near this shop any more, but I will make a point of it to stop in next time I through there.
Edited by mendelman
10/15/2015 11:27 am
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jbuck's Avatar
United States
188121 Posts
 Posted 10/15/2015  2:00 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I'm going to make it a regular stop in the future.
If you can work out a good relationship like this, then by all means stick with it.
Valued Member
United States
134 Posts
 Posted 10/15/2015  3:56 pm  Show Profile   Bookmark this reply Add mendelman to your friends list Get a Link to this Reply
I certainly will, jbuck. Unfortunately, this store is in a City about 1.5 hours away. Though, I may be able to stop by when possible, because he's in a City that we pass by/through when we travel to visit family the neighboring State.

It's easy access from the highway, so I'll just have to say it's happening provided we're coming through during his business hours.
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jbuck's Avatar
United States
188121 Posts
 Posted 10/15/2015  5:12 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Just something to be aware of when making travel plans. I hope it works out for you.
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stampvirgin's Avatar
United States
1247 Posts
 Posted 10/18/2015  6:20 pm  Show Profile   Bookmark this reply Add stampvirgin to your friends list Get a Link to this Reply
Just a few months ago, I was in a pawnshop and bought a 1/4 ounce .999 Canada gold coin for spot.. Their price was 100 over spot.., I looked up the spot price and offered the spot price.
He took it... I then paid for it with my credit card.... (LOL), so you know he paid way less then spot for it.
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rubenbeagle's Avatar
United States
46 Posts
 Posted 10/22/2015  09:18 am  Show Profile   Bookmark this reply Add rubenbeagle to your friends list Get a Link to this Reply
I've found them to be a very mixed bag, asking from 10 to 20 times face for silver. Items seem to be a bit on the high side as a rule. I wouldn't rule them out, though. I guess it depends on what you are looking for.
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AureliusMoore's Avatar
United States
52 Posts
 Posted 10/22/2015  09:26 am  Show Profile   Bookmark this reply Add AureliusMoore to your friends list Get a Link to this Reply
There is a gold and silver shop that I live by. The guy there lets me look through his coins that he buys. They are usually pretty rough and common dates, but when I see something I like he will sell it to me for spot plus 10%
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