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Hi i was wondering if anyone buys from pawn shops or cash 4 gold places? If so have you gotten any good deals? Also what are the prices like? Thanks Chris

I do quite often.
There are a lot of people offering to buy their gold and silver.
I have found that if you want to buy from them,
you need to be available to them and have the cash to buy whatever they have to sell you.
If you are consistently there for them when they call and have the cash, you can get reasonable deals.
This is easier said than done.
Lots of people wanting to buy there products so you have to be competitive and be able to buy everything all the time.
If you cannot buy whatever they have for sale, then you will not be their buyer of choice and they will most likely not call you back.
Larger pawn shops will already have lists of buyers ready and waiting for them to call with coins for sale.
Good luck!!

PS - you have to know your prices that you can pay and be consistent

christostock wrote:I do quite often.
There are a lot of people offering to buy their gold and silver.
I have found that if you want to buy from them,
you need to be available to them and have the cash to buy whatever they have to sell you.
If you are consistently there for them when they call and have the cash, you can get reasonable deals.
This is easier said than done.
Lots of people wanting to buy there products so you have to be competitive and be able to buy everything all the time.
If you cannot buy whatever they have for sale, then you will not be their buyer of choice and they will most likely not call you back.
Larger pawn shops will already have lists of buyers ready and waiting for them to call with coins for sale.
Good luck!!

x 2

I buy from a cash for gold place on a regular basis. He calls me first as soon as he gets any gold or silver bullion in. I take it off his hands 90% of the time and he gives me a real fair price because I've been reliable.

I too have been buying from a Pawn Shop. Stop in there 3-4 times a week.
Been buying for some time now
Even stood behind a guy once while he sold it then bought it before it went into the case. (Rather be lucky than good. Don't have to prove it everyday.)
They are glad to turn it over since they make their money buying way below spot.

Only trouble is, very little is coming in with the drop in prices and what is coming in is older, slicker, worn, cleaned etc.
At the higher prices, used to see books, mint sets, eagles, prospectors, bars and even some cut up or broken proof sets. None of this lately.

I saw a new pawn shop in my neck of the woods sprout up about January of this year. They had huge signs saying "We Buy Gold and Silver". I figured if they bought the stuff, maybe they sold the stuff. So I went in and sure enough there was a display case with silver. About a dozen tarnished silver eagles, 2 or 3 peace dollars and bunches of franklin halves, w.l. halves and some quarters and dimes. Silver was at about $29/ounce at the time. I ended up with one tarnished silver eagle at $30, an almost uncirculated one at $32 and $5 in franklin halves for $110. OK deals. But I had to dicker for those prices. Now, I went back next pay check and silver had fallen, but their prices were still the same. I started to dicker and they told me in no uncertain terms that they don't budge on listed prices (this was a different guy). I told him that they budged last time I was in. He still didn't budge. So I turned around and went to my LCS and got some B.U. eagles. I am the market. I will go where my money is best spent.


Keep stacking.

The local pawn shop here is ripoff city. They pay next to nothing and sell for about 2X spot. I don't know how they stay in business but I guess there are a lot of desperate fools and suckers out there.

blackrabbit wrote:The local pawn shop here is ripoff city. They pay next to nothing and sell for about 2X spot. I don't know how they stay in business but I guess there are a lot of desperate fools and suckers out there.

same as the bigger pawn shops in my area they will quote you crazy prices as at the end of the week they call the regular buyers. So if the snag one or two fish a week this way they make quite a bit more money and if they dont business as usual.

All pawn shops that I've been in around me have said that they do not sell gold or silver, some ship it off to 'corporate' and a few have said they keep it all.

Money talks. At first some of the LCSs were hesitant about my foreign coin deal where I ask them to set things aside and let me pay them my standard rates, but the two locations I deal with most often have opened up once they realize I buy everything, every time. I buy from a couple others but still working on getting them to fully cooperate so far as saving things for me instead of just selling to any random guy that asks for Euros.

I've bought from a couple. The one closest to me had crazy prices when I first went in there. The girl said she couldn't negotiate prices and I was about to leave but stopped at the gun case to browse, when a guy came out from the back and asked me if I was looking for anything in particular. I told him I'd come to look at the silver, but the prices were way off, so I was looking at his hunting rifles. We ended up talking guns, politics, etc., and then I ended up buying some silver at a much better price after some haggling. Nice guy, gave me his card, and I stop in every now and then chat and pick up some silver. He doesn't get a lot in, but I have gotten some good deals there such as two ASE proofs for $34 each when silver was at $28. I even ended up getting a good deal on a 30-30 from him a couple months later.

Having just moved, I just discovered a pawn shop not far. Will check it out and report back.

I once went to a pawn shop near Palm Beach, FL in January, 2009- shortly after the Bernie Madoff scandal hit. I saw clad and silver halves in the same box marked one dollar each. I made about four stacks of 12-13 coins each and purposely put one clad coin on top of each stack. Other than the one coin on top, each stack had all 40% and 90% silver. Even with silver prices depressed at the time, I got a few hundred dollars in free silver. I was quite pleased.

db23 wrote:All pawn shops that I've been in around me have said that they do not sell gold or silver, some ship it off to 'corporate' and a few have said they keep it all.

Same here.. And what they do have is culls

My pawn shop is a little to far away, they said they put the stuff out in the mornings. Always seemed like stuff nobody else would want. I did get a couple of old engelhard 1 oz. bars one time, they wanted $35, I offered $30? and they said ok. Definitely haggle territory, gotta agree, getting to know the people you are doing business with makes a hell of a difference, sometimes.

I am going 2 try a pawn shop Saturday and see how it goes.

Suggestion You need to visit at Slack time. If tourist comes in when he still looking for Your 90% dimes offer to get him coffee if he has a close coffee you can walk to.

Pointed out a three cent coin in bag of dimes.

I buy coin at $15 times face, bullion at $1 or $1.50 over ASE at another $1 over currently.

I have done some Pawn Shop searching here in Chicago and NW Indiana and I have found that they are very over-priced. It seems that generics go for $6-8 over spot and ASE or Maples go for at least $10-15 over spot. My LCS used to have a Pawn Store in the same strip mall and it was almost laughable at the prices they were charging with being only 3 stores down from a legtitimate coin store. They recently went out of business and I was discussing this with my LCS and they said that the Pawn Store would buy silver and gold from them and then re-sell in their store. Again, 3 stores down!! Some people are just dumb

I went to one pawn shop today and the guy said he only sells Maples and ASE. He said maples go for $2 over spot and the ASE go for $5 over spot. I do not know what shape they are as I did not see them.

I didn't think the "we pay cash for gold" places sell PMs. I thought the were just there to buy from desperate sellers way below spot. Any time I drive by one they seem to be just a tiny office with one desk and chair. No display cases etc. So I've never really thought of buying from that source.

reddirtcoins wrote:

db23 wrote:All pawn shops that I've been in around me have said that they do not sell gold or silver, some ship it off to 'corporate' and a few have said they keep it all.

Same here.. And what they do have is culls

Same here.

I have have no luck at Pawn shops or those cash 4 gold places. I do have some luck in smaller coin shops though. I've gone to a few that are in "low income" areas and that's where I have the best luck. A few of them have my number and call when they get some 90% in. What's nice is they usually look to turn around and sell what they get as quickly as possible, it's usually VERY cheap...sometimes below spot and in small amounts at a time (5-10 face).

We have no cash for gold places here. There is one cheesey pawn shop but they only buy. The only thing they have for sale are two morgan dollars for $60 each. He bought high and is holding out for the next price rise. Happy waiting fella!