My first pawn shop hunt for coins - NONE for sale

[aaa30040]

I hit the three pawn shop within 10 miles of my house today for the first time ever. All three are local owned, mom and pop shops. All had some variety of a "we buy Gold/Silver" sign in the window. But none had any coins for sale.

All three spots said the owner keeps them and does not sell - but if you want guns/lawn mower/DVDs/tools, etc .........

[theshoenlebens]

I went into the one that is close to me, WAY overpricd so I haven't been back in.

[newton7]

Same here, I don’t bother with the Pawns as if they have coins, they are wayyyyyy overpriced. They all think they have the rarest of the coins out there and want way too much. They even tried to sell me a common IKE for the silver price of the 40%. I had some IKEs in my pocket from the bank and almost took them for a great profit but instead decided to do the right thing and educated them on the difference.

[NHsorter]

Same here, I don’t bother with the Pawns as if they have coins, they are wayyyyyy overpriced. They all think they have the rarest of the coins out there and want way too much. They even tried to sell me a common IKE for the silver price of the 40%. I had some IKEs in my pocket from the bank and almost took them for a great profit but instead decided to do the right thing and educated them on the difference.

With only ONE exception(brand new shop), the pawn shops around here all have astronomical prices and will absolutely gouge the crap out of you any chance they can get. My god, you would think that a slick Walker was treasure from the heavens. Great place to pick up $50 SUPER-CULL Morgans too. I know legit places do exist, I just don't know of any near me. It's bad. Worst part is the attitude that they give me when I ask about coins and call them out on their prices. They treat me like I am an idiot or a liar. Half of these guys are so full of BS that they don't even know it. That's nice of you to educate them on the Ikes, I don't think I would have been that nice at the shops around here.

[Treetop]

Pawn shops in my area are horrific. they want to buy silver for 1/3-1/2 its value and sell it for nearly double its value.

[cesariojpn]

I remember one of the local pawn shops here had some Japanese Yen coins in the case. $10 a pop for 100 yen coins (FOREX is around a dollar-ish), but $5 a pop for 500 yen coins (FOREX around $5.....and some change). Guess what I ended up buying?

Also, the bulk foreign coins is ridiculous. $1.25 for ONE COIN. And don't get me started on their "rolling price fluctuation policy" with silver items where they tack on 20% to "cover the rolling price of silver" just because they are too lazy to change the tags a/or price higher than normal.

[Bluegill]

You folks are describing half the coin shops in my area...

[m21221]

I guess I'm extremely lucky then, my local pawn shop sell me pre 65 silver coinage for about 5% under spot. Matter of fact he calls me when he gets it. Otherwise they ship it to the refiner. Win win.

[inflationhawk]

I guess I'm extremely lucky then, my local pawn shop sell me pre 65 silver coinage for about 5% under spot. Matter of fact he calls me when he gets it. Otherwise they ship it to the refiner. Win win.

You better keep that one close to the vest....your very lucky!

[Know Common Cents]

These jokers have been watching too many Pawn shows on TV. They have a distorted sense of reality and just enough knowledge to be dangerous to themself and the public. Pity the unsuspecting public who come into their shop with silver coin, sterling flatware, diamonds and anything else with an intrinsic value.

Those buzzards sit quietly on their perch, salivating and waiting to pounce. "Oh yes, Ma'am. We'll pay you $1 for each of those silver dimes you have. Just think, too. Your (deceased) Husband's silver dollars are worth $8. Looks like you have well over $200 worth of coins here to sell. Just think of what you can do with that money!"

May they roast in Hell...and they will.

[PADFH]

Hit or miss here. I've found one store that will sell 90% at spot when he has it. Another that has one single 4toz bar for $300. Several that dont sell. And one jewelry store that has a tray of ounce rounds and ASEs at spot. . I like that place.

[Metals Mogul]

Same deal around here!