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 Replies: 33 / Views: 7,990 |
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Pillar of the Community
 527 Posts |
I don't own a "missing the point of his prices", but No I'm not missing the point. Pricing a quarter that isn't even in good shape for $50 is beyond absurd. Had it been priced at $15 (maybe $20 at most), your point would make more sense. When the price of silver makes the quarter worth around $5.00-$5.50, you don't price it at $50. Silver would have to be at $277 an ounce for the silver quarter to be worth $50.
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Pillar of the Community
1028 Posts |
As far as coins from pawn shops. They usually price junk silver way way too high, but sometimes they price coins with numismatic premiums too low. They also rarely recognize any sort of variety. I've heard from someone else that they had dateless std lib quarters for sale at a super high price relative to melt, but to didn't bother to check if they were all completely dateless. The guy said he picked up a 1921 (with a hint of a 1) and a 1924 D (with a hint of a 4) for like $15 a piece...the coins were both generally VGs.
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Bedrock of the Community
United States
17884 Posts |
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I need opinions on this. Is this a ripoff or what? No, it is simply someone pricing his material well above market price. He can ASK anything he wants. Doesn't mean he is going to be able to sell it. Now if he tries to convince you that it is priced favorably or below market and is a good buy, then he is trying to rip you off. |
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Pillar of the Community
United States
539 Posts |
I have to agree with condor on this one. They have the right to price their items for whatever they want. And you have the right to not buy it. Now if someone bought it for $50 would they be getting ripped-off. I suppose you could say they were. However, unless someone tells them that they probably think they got a great deal.There is a saying for this as well "Ignorance is Bliss". All you need to do is go look at closed auctions on ebay and you see people are getting 'ripped-off' by that definiton every day, every hour, every minute. |
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Pillar of the Community
United States
1599 Posts |
Stupid pawn shop employees...how about Chumley on Pawn Stars? I love that show.
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Pillar of the Community
1028 Posts |
I intend to watch the new episodes of pawn stars tonight at 10. Chumlee isn't actually allowed to make real decisions, but I also love that show. It does bother me when the guys at the shop totally rip somebody off. You don't really see it with coins because the values are so concrete, but when an antique comes in, they offer like 20% it's value "because it'll sit for a while" or when they buy a car or motorcycle they'll offer like 2000 for a 8000 car because "they don't know how much damage it could have" It makes some sense, but not to the degree which they take it...just shows that the mentality of any pawn shop is to actually rip you off the best they can....so if you ever sell to one, you have to try and do the same.
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New Member
United States
45 Posts |
What I don't get is that the people will settle for the low offers even after they find out what it is worth. Have they never heard of e-bay or Craigslist?
Then you have the customer who bought something for $5 at a yard sale and are offered $800 for something that is valued at $1200 and they walk out. TAKE THE MONEY AND RUN
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Valued Member
United States
466 Posts |
I was just going to comment saying you should take your junk silver there and sell it to him for the bargain price of $30 for a quarter
then go somewhere else and buy stuff you want plus more junk silver to keep dropping off to him
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Pillar of the Community
527 Posts |
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I was just going to comment saying you should take your junk silver there and sell it to him for the bargain price of $30 for a quarter
then go somewhere else and buy stuff you want plus more junk silver to keep dropping off to him Brief update on this topic: I thought about doing this because three weeks ago, I wanted to sell my worn 1918 Walking Liberty half dollar, but after waiting for about 10-20 minutes, some employee rudely said "There's a line, maybe you want to wait there." There was no line and only one customer was in the store at the time and was being "helped" by some lady. I just thanked the guy and walked right out the door. This pawn shop is horrible and I won't be returning to deal with these scumbags. Just for the record, there is no way they were going to pay me a lot of money for my silver. That silver quarter was gone, but they had a 1958 Franklin half for $50! That shop is a lengthy drive from my local coin shop, so I have no plans to drive back and forth buying coins and dropping them off to those scumbags hoping to make a profit. They would likely have offered me $5 for my half, then sell it at $50  Edited by TheDanMan
12/11/2011 9:25 pm
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Valued Member
United States
140 Posts |
Haha, this sounds like some of the shops who sell around here. Some of them have to be off their rockers to charge the prices they do. I mean I know they have a business to run, but there's a fine line between fair pricing and just being ridiculous! Luckily there are legit places to balance out the "ones that lack".
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Rest in Peace
United States
9104 Posts |
I find it interesting that someone would explain how they don't make much money on silver in the same breath as telling you they prolly paid $10 for an item they're asking $50 for. That's a 5% markup, right?
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Rest in Peace
United States
9104 Posts |
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"He who would be deceived let him be deceived" That anything like caviar empty? |
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Rest in Peace
United States
9104 Posts |
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When I buy coins nowadays.....it's strictly from the coin shop, the U.S. Mint, or the occasional Estate Auction or Coin auction. And I can still over-pay....or worse, but I think it's a bit safer. Just remember that in most jurisdictions, an auctioneer is not required to be an expert, and all sales are caviar empty. Lots of fake coins find their way to estate auctions, and even if discovered immediately, too bad. |
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Rest in Peace
United States
9104 Posts |
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If "LCS" stands for "Lincoln Copper Cents", Low-calorie Koin Shoppe. |
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Pillar of the Community
United States
4897 Posts |
@bigfred Quote:
caviar empty sorta Beluga Devoid? |
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Replies: 33 / Views: 7,990 |
First Page
Posted 09/25/2011 10:06 pm
