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 Replies: 11 / Views: 2,258 |
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Pillar of the Community
United States
3843 Posts |
With the recent resurgence of the precious metals markets does anyone expect to see the return of a proliferation of sketchy "Cash for Gold" stores and metals buyers like we did a decade ago? I also vividly remember the kiosks in the malls and the traveling roadshows of estate buyers that made their rounds across the nation at that time holding buying events at motels and taking out large full page advertisements in newspapers.
Your thoughts please.
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Rest in Peace
United States
2668 Posts |
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Pillar of the Community
United States
4333 Posts |
Sure!
I remember as late as 2014, a private buyer set up shop in a small independent rural bank near me, bi-monthly.
I also vividly remember full page ads back in 1979 before the Hunts were shut down. I was 16, good times!
Back about 2010 a guy I knew from school rented a suite in a small strip mall, he had to get a license and hold his buys for 10 days to legally clear. I believe he was paying 90-95% spot. He took in some beautiful jewelry pieces too. I recall a sweet huge gold WWII airman's ring that I loved but it had to go to the refiner!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
07/22/2020 6:49 pm
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Bedrock of the Community
Australia
21788 Posts |
Any 'cash for gold' store worth it's salt should have a hand held XRF testing instrument.
Worth knowing that, if you ever need to have suspect fake gold coins tested.
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Pillar of the Community
4628 Posts |
We have heaps of these stores here, one called Regal Bullion advertises all the time of the Radio along with the ghetto Pawn stores that buy silver and gold. There are four around our casino and all are run by immigrants and mainly buy junk off Polynesians with gambling addictions.
Cashies also buys gold and silver, all pay crooked prices - sometimes as low as 70% and will often weigh the pieces wrong. You never find these stores in any area that is not a complete poverty laden ghetto.
Is that the same there?
We also have coin and watch! dealers who periodically do buy in tours and have ads in papers (Not really coin buyers as they mainly handle watches and usually pay melt - 10% only). The ads have clearly written "No Pennies or Halfpennies".
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Pillar of the Community
Canada
3733 Posts |
they are always out there, doesn't matter if gold or silver is up or down, if they are good, they make money on both swings, but yes be wary of the pop up shops..
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Pillar of the Community
United States
7622 Posts |
I thought most of the cash for gold stores morphed into e-cigarette vape shops.
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Valued Member
United States
62 Posts |
These shops are still abundant in Arizona, maybe a few moved on but there are many that have been around for many years, I have never been in one so no idea on the workings but they do scream e-cigs, bongs, papers and unleaded CBD products as well as "highest" paid gold and silver..
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Pillar of the Community
United States
4333 Posts |
What's odd is that back around 2010-12 I was offering some of these shops more than what they were paying, all refused.
Possibly under contract with a refiner.
My local pawn shops just plain refused to deal in PM's because of "their volatility".
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Moderator
 United States
188952 Posts |
I have not been out much to even notice, but I will ask around. I do remember it seemed like there was one next to every liquor store and tobacco hut in town. Last time I noticed there were just a few left.
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Pillar of the Community
Canada
6768 Posts |
I am not very familiar with nature of these shops, but actually should be the places, which capable to pay cash for people's PMs.
Do they rip-off people paying significantly lower than the spot? Or even some kind of fraud?
There are coin shops, but not everywhere
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Pillar of the Community
United States
4333 Posts |
Quote:
Do they rip-off people paying significantly lower than the spot? Not unless the seller allows it. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 11 / Views: 2,258 |
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Posted 07/22/2020 6:42 pm
