Anyone see increase in local ads for buying silver and gold coins, etc.?

[jim4silver]

In my area there are coin stores that take big ads (like a whole page) in the newspaper saying that they buy gold and silver, among other stuff. But it gets worse, in that they will say in big letters how they buy half dollars from 1965-1970, in addition to all the other stuff.

This cannot be good for CRHing down the road. Most people who have old coins know about pre 1965 coins being silver, but many don't know about 40% halves. I think these ads will educate some and instead of them dumping said halves they will take them to the coin store.

Anyone seeing similar ads in your town? I am not talking about the "cash 4 gold", etc deals, or companies that set up in hotels for a day or two and move on. I mean local stores and such.

Jim

 

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[seger98]

I don't get to see alot of local papers but I do see an increase on Craig's list.

 

[47thelement]

Have not seen this in my area. Then again not a lot of coins shops in my area

 

[Shake-N-Bake]

Yes I have seen the ads in my area, its been going on since the gold and silver rush last year. What amazing me is that there is two competitors right close together that must have thousands of dollars tide up every week in advertising makes you wonder how much they are really paying the typical Joe that doesnt know what his stuff is really worth. I know last year when silver was at $18 they were paying 9 times over face, YEAH go figure and I see cars in and out of these places all the time. Basically taking advantage of the average person who needs money...

Jason

 

[jrf30]

I've seen them a LOT lately. Three different groups came through Phoenix. Two took out two page full page ads. The third took out a three page ad. Three full pages!

They talk about all the things they will buy. But, when you get to the bottom line, it shows $6 for peace dollars "Up to $11,000 for post 1921 Peace Dollars in UNcirculated condition" That means one rare one will get that, IF it is MS68 or something stupid like that, and the rest get the part under that which says "minimum of $6 per Peace dollar guarenteed!!" MOrgans are $7. Wheats are 2 cents. (90% Halves are $3 or so, and 40%ers ARE listed, and shown at $1 "or more" each. And a 1970D in MS68 will bring lots of money. As if anyone had that and didn't know that it was worth something!

They are scams in my opinion. They pay so little that it should be a crime. ANY coin shop would blow their bids away. But ... people see the three full pages, and the lines are HUGE at the hotel where they set up shop. I saw it once, and was shocked. Probably 200 people waiting for their turn to be fleeced. It sucked big time!

I would love to stand outside on the curb (The hotel doesn't let you solicit on their site, especially since the scammers are renting so many rooms to do "Business".) with a sign that said "Get your bids, and I'll guarentee you 20% more on ALL coins. NO matter what!!!" It would still be a good deal for me! But people get sucked in by the ads. I wish they would stop these guys, but I don't know how they could.

 

[fistfulladirt]

Saw my first full-page ad yesterday, since about 1980. My jaw actually fell open, and I made a comment to my wife about it.
Two dealers usually run small 4 X 6 ads weekly, but a full-pager is something else.
This dealer is offering $12 and up for US silver dollars Peace and older.
$4 for kennedy halves pre '65. $1 and up for dimes pre '65. $2 quarters.
No mention of 40% in this ad.

FFD

 

[Diver_Down]

I would love to stand outside on the curb (The hotel doesn't let you solicit on their site, especially since the scammers are renting so many rooms to do "Business".) with a sign that said "Get your bids, and I'll guarentee you 20% more on ALL coins. NO matter what!!!" It would still be a good deal for me! But people get sucked in by the ads. I wish they would stop these guys, but I don't know how they could.

I've done just that. I've parked in the hotel's lot out of sight from the main lobby watching for individuals heading in with shoe boxes and the like. Individuals have their hopes up thinking they are finally going to cash in when in fact they are turned away dejected. I have bought many collections just that way.

 

[Troy Ounce]

They are going crazy here! all day long on TV and Radio.

 

[ScoobaSteve]

In my area there are coin stores that take big ads (like a whole page) in the newspaper saying that they buy gold and silver, among other stuff. But it gets worse, in that they will say in big letters how they buy half dollars from 1965-1970, in addition to all the other stuff.

This cannot be good for CRHing down the road. Most people who have old coins know about pre 1965 coins being silver, but many don't know about 40% halves. I think these ads will educate some and instead of them dumping said halves they will take them to the coin store.

Anyone seeing similar ads in your town? I am not talking about the "cash 4 gold", etc deals, or companies that set up in hotels for a day or two and move on. I mean local stores and such.

Jim

These ads are over the place and in every form of media. Even craigslist has now been flooded with people/businesses offering to buy coins, gold and silver.
Either way, they are all a rip off and preventing people from dumping their silver coins into the banks circulation for me to hunt down.

 

[Rich Hartford]

Lots of adds and pawn shops opening up. Scuba Steve and I ,in our spare time, stake out these joints, and make parking lot deals. We have had made some really big scores. Sadly we can't count them for CHR totals.
Can't say I've ever seen a sign for 40% halves.

 

[jim4silver]

Lots of adds and pawn shops opening up. Scuba Steve and I ,in our spare time, stake out these joints, and make parking lot deals. We have had made some really big scores. Sadly we can't count them for CHR totals.
Can't say I've ever seen a sign for 40% halves.

I also see lots of jewelry stores with signs saying "we buy gold". But the newspaper ads are where they mention the 40% halves. They show a picture of a half, say 1967, and say how much they pay, and mention the years 1965 to 1970. Usually they also say they buy old watches, baseball cards and other junk too.

The ads have picked up in the last few months, but today I saw a full page ad from a local coin store in the newspaper. The prices quoted werent too bad either, 10.5 x face for 90%ers and 1.50 for 40%ers. In fine print it said "these prices are based on 13.50 per ounce silver".

Jim

 

[Codes]

A fool and his money are easily parted.

-Codes

 

[Jimmy@romega]

I wouldn't put too much worry with it most people don't have a big hoard of old coins and wouldn't break their backs cashing in on what little they got. A good majority would pass up what little they would get and just cash in at the banks. I myself put out similiar ads in a free newspaper and had el-zippo response. The one losing out on this is the ones who pay to advertise. Coin shops and dealers are making nothing! thats why you see them come and go in towns. The internet pretty much taken over the game of coin buying and selling.

BTW I offer same prices on my ads 2-3 for 90% kennedy and franklins halves. On average they sell for 5-6 not a call yet.

 

[ScoobaSteve]

Lots of adds and pawn shops opening up. Scuba Steve and I ,in our spare time, stake out these joints, and make parking lot deals. We have had made some really big scores. Sadly we can't count them for CHR totals.
Can't say I've ever seen a sign for 40% halves.

Yeah, we panhandle the front of the coin stores and pawn shops in our street clothes and flipflops. (This effect works best in zero temperatures) I have actually developed a tin coffee can contraption to separate the silver coins from the junk coins that caring people put into my can; that way I don't have to search them all when I return home to my 5 bedroom house in the suburbs. Great way to get silver because people just drop their change into my can as they walk in and out. All I have to do is say, "Can ya spare some cutter me brothers?"

 

[fistfulladirt]

Toooooooooo funny!

 

[Detectingfreak]

I hear about them all the time on the radio. They are always advertising coin shops and pawn shops now. The ad says that they will take any of your gold or silver coins or jewerly. I don't think it will hurt the silver in my area because everyone is to lazy to do CRHing around my town. I am happy that I do dimes and I am almost gaurenteed one silver every time.