Has anybody had any luck at PAWN shops????

[moff347]

I walked into a couple pawn shops this week and about half of them had coins and currency. The coins were WAYYYYY over price and I'm curious as to how much these places pay for coins. I have been saving up key half dollar dates to fill up additional books to try to sell for a profit and was wondering if I should try one of these pawn shops. I've also got several dateless buffs, some Wheaties and several other older coins that I might try to make a profit on. Any suggestions??

 

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[fistfulladirt]

If they are typical, you will be lowballed when selling. The pawn shops here won't deal in coins, especially silver.
The one time I inquired, the guy at the counter went in the back room and I heard the sound of silver.
He came back saying, "nope, we have none for sale."

 

[Styfflin]

I've gone to two pawn shops to buy coins. One pawn shop says that whenever they get silver/gold coin in, it is for pawn and the customer almost always buys it back after the term of the loan. The other big pawn shop had an okay selection of silver coins, but they were way overpriced. It was a shame because they had roughly 90 silver Washington quarters in a ziploc bag, but they were asking $6/coin. They specifically said they didn't care what spot price was, people would buy them for that price.

 

[baddbluff]

Sometimes you can do okay w/ wheats at pawn shops. One shop I went to had a huge bin o "unsearched" wheats (I know what you're thinking). I was skeptical myself. They were asking 5c/each. I asked if I could look through them. They were slow that day, so they didn't care. I was impressed by the first handful, so I pulled up a chair and for the next 2-3 hours, went through the whole thing. I was amazed by the number of early dates & better dates I found: 7-8 '09 VDBs, 2 22Ds, several 21S, 23S, and 26S's, and hundreds of teens & 20s dates (many w/mint marks)! I found several 30s better dates (31s, 32s, 33s, and some 38S's.) The thrill of those hours spent searching those wheats that day rival the fun of some of my best half boxes! I kept some for my personal wheat set, but sold most of them for a nice profit! Best of all, I bought enough that I was able to talk him down to 4c/each. Made out like a bandit! Made me a believer that there are a few unsearched wheat hoards out there.

 

[rfishoutofwater]

My pawn shop sells silver for $1 over spot. Scored a few times. They turn silver around pretty quick.

 

[vpnavy]

Based on what ya see on TV - they always charge TWICE what they paid moff347!

 

[usernameerror]

Visited a pawn shop near me last week. They had some ASEs that were way overpriced. All the junk silver was hoarded in a vault. Owner did not want to sell.

 

[PhattyB]

I found out my local pawn just got rid of their "coin expert"... (Ebay completed auction searcher...)

I got 8 washington quarters for spot, and a XF+ 1913 king george canadian quarter for $4.30 (That's sterling, folks!)

 

[sagittarius98]

XF+ 1913 king george canadian quarter for $4.30 (That's sterling, folks!)

That quarter is worth at least $70 in that shape.

 

[minkybodl]

It depends on the Pawnshop, as long as I have time to kill, I enjoy stopping in to see what they have acquired recently. One that I have bought from was paying a dollar under spot and selling for a dollar over for scrap silver and rounds before the last big drop. A year or two ago, I was looking through the big bag of silver rounds that he had and I found an older Panda coin still in its plastic holder and bought it for 28. When I got home and checked, the cheapest I could find it for sale on line was 125. I don't think he even knew it was a coin instead of just a round and he probably didn't pay very much for it. I have bought a few 1/10 oz gold coins from him, eagles and pandas, after first checking prices at the LCS and online and been happy with what I paid. I have never tried to sell anything to the pawnshops because I consider them as a place of last resort, them and the Gold and Silver buying places with the paid wavers out front.

 

[ArkieBassMan]

Typically speaking, as there are always exceptions, but a pawn shop will be your worst place to both buy and sell coins in terms of dollar amounts. However, it will be convenient. You walk in with coins, and walk out with cash. You'll most likely pay for this convenience though.

 

[usernameerror]

Posted this in another thread but I'll post here as well. Decided to stop in at a random pawn shop on a whim. He only had two coins in his possession and wanted. To get rid of them quick. Sold me a walker and frankin at spot. Not a bad deal since all the LCDs are charging monster premiums in my area. The shop owner will be calling me if any more come in.

 

[Owassokie]

I've gone to two pawn shops to buy coins. One pawn shop says that whenever they get silver/gold coin in, it is for pawn and the customer almost always buys it back after the term of the loan. The other big pawn shop had an okay selection of silver coins, but they were way overpriced. It was a shame because they had roughly 90 silver Washington quarters in a ziploc bag, but they were asking $6/coin. They specifically said they didn't care what spot price was, people would buy them for that price.

There are places like this that don't follow the market. Keep these places in mind when spot goes back up. At $40/oz silver, $6 silver quarter won't be too bad.

 

[sagittarius98]

There are places like this that don't follow the market.

Too bad the one in my area stopped following the market after silver almost hit $50.

 

[Uncle Ben]

Pawn shops in my area have silver priced like its gold...and they wont haggle.