I was at the bank getting half dollars and the guy in the next line told me he had a BUNCH of them about three months ago, but sold them quickly.
He said he had over 2,000 halves and all were 1964 and earlier. He says he paid $4-5 each for them and promptly sold the lot for $10-11 each. Assuming a profit of $6 per coin (average), that’s a profit of about $12k. And then he told me he got them from a sister pawn shop as they didn’t know what to do with them!
I’m STILL DROOLING!
A Story from a Pawn Dealer
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A Story from a Pawn Dealer
by Recyclersteve » Tue Jun 13, 2023 10:21 pm
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
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Re: A Story from a Pawn Dealer
by pmbug » Wed Jun 14, 2023 10:05 am
If something sounds too good to be true... I wonder how many of the coins were fakes....
The journey of a thousand miles begins with a single step. -Lao Tzu
You can find me ranting at clouds on pmbug.com.
You can find me ranting at clouds on pmbug.com.
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pmbug - Penny Collector Member
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Re: A Story from a Pawn Dealer
by Recyclersteve » Mon Jun 19, 2023 3:24 pm
If he sold them to a dealer already, I’d think the dealer would have been sharp enough to check for fakes.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
- Recyclersteve
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Re: A Story from a Pawn Dealer
by Cu Penny Hoarder » Mon Jun 19, 2023 8:11 pm
pmbug wrote:If something sounds too good to be true... I wonder how many of the coins were fakes....
I generally agree with that, but some ppl don't know what they have... OR... they're just in a desperate situation and need cash.
Time is precious, stop wasting it.
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