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 Replies: 11 / Views: 1,592 |
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Valued Member
United States
230 Posts |
I ran into an issue and have to sell some coins
My question is...well if I "sold" my coins to someone for what they are worth not what I want for them, will someone hold onto them and let me buy them back if I so desire in a month or so?
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Pillar of the Community
United States
532 Posts |
If you sell them, you really can't expect to control what the person does with them. After all...once sold you do realise they are no longer yours, right.
Are you looking to pawn them for a loan against their value to another forum member?
I guess your question is a little confusing.
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Bedrock of the Community
United States
10982 Posts |
Sounds like you want to pawn them and not sell them. Maybe there's a local shop that would do that for you.
Remember when pawning anything you'll usually get significantly less than wholesale value though.
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Pillar of the Community
United States
3077 Posts |
and a pawn shop is gonna want more back than what they gave you to get them back
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Pillar of the Community
United States
1055 Posts |
It sounds like you are wanting to pawn them, as stated you would probably receive considerably less than wholesale value for them, then I think you have 90 or 120 days to pay it off (with intrest of course) or they gain ownership and you sold your collection for scrap.
The thing is with loans with friends or family is things can get sticky and problems seem to cloud over family/friends transcations. So I would normally avoid them.
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New Member
United States
12 Posts |
There are several problems with a pawn shop. First, if the coin or collection is not professionaly graded and sealed, they will try to establish some kind of grading on their own, even they may or may not be qualified, and it will always be lower that it actually is. Then, (for example only) if the collection is worth $100, they will only give you 50% of their value as a loan. Sometimes you can dicker a bit higher, but it will have to benifit the pawn shop, not you. And, if you are even a day late with the Buy Back payment, you loose everything.
Take the others advice. Deal with a family member or friend. You stand a very good chance of getting your coins back.
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Bedrock of the Community
United States
14454 Posts |
sounds like you want to just borrow some money with the coins being collateral. My grandfather used to do this for just about everyone in town but it has its risks and its gains. He has lost quite a few friends doing this because they wanted their things back before they paid him what he loaned them. There were some that wanted to give him a little bit of it back and go through what they had given him to get back a few of the things. If you do that you end up with more money out than you could ever get for whats left because they are always going to take back the most expensive pieces for themselves and leave you with the junk
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Valued Member
 United States
230 Posts |
bryan you are exactly right I want to keep the coins but my car went to the crapper and now I need a new one and es[ecialy in winter, right now I ride my bike 10 and a half miles to work lol and no it is not fun and no I do not want to jip anyone basically it would be like this I ship you the coins and the person I shipped to will receive them for what they are worth the money they send will go towards my car and within a month I would buy the coins back with all cash in hand befor payment if something happens where I wont be able to make the month deadline the person with the coins has 2 options A be nice and give me a a few weeks or B sell them(and if they didnt receive the full money with proof id send them the remainder)
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Pillar of the Community
United States
2669 Posts |
Or (C) that person might feel like they made a 'loan' in good faith and didn't need those coins/didn't need to be out the money but figured they would help, and would feel taken advantage of.
It might be better for you to deal with a non-family member, non-friend. Strictly business - take them to a pawn shop or 'payday loan' place (if they take coins there), you might have to pawn more coins than you'd wish to get the amount you need, but then the end result relies entirely upon you + the deadline and not whether someone is going to (a) sell them out from under you before the time expires, or (b) be 'nice' and give more time. You can't depend on the first not happening and have hope the second one will.
Just my opinion, of course. Personally, I wouldn't want to risk losing someone's friendship over a seemingly-temporary financial glitch. You just never know what can happen. You can always get more coins - good friends are hard to come by.
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Pillar of the Community
United States
1151 Posts |
What kind of interest rate are you willing to pay? Just to let you know, I do have a friend named Guido.
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Valued Member
United States
230 Posts |
I understand all these things and yes, I didnt need a bnch of lectures and I was just trying to see if there was a way that someone would be interested in doing this Ill post up in teh for sale and see if anyone bites only need a 400 smackers but some of these coins have been passed down or given ect ect
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Pillar of the Community
United States
2669 Posts |
I was just trying to save you some grief - I apologize if it sounded like a lecture, as I did not mean it that way  |
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Replies: 11 / Views: 1,592 |
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Posted 09/12/2009 01:25 am
