My buddy just found a silver cache in his house

[bjybjy]

My buddy moved into his house a couple years ago. He calls me last night becaue he knew I used to buy and sell old coins, tells me he found some in his attic.

Turns out this old box that had been in the corner of the attic since he moved in that he thought was an old typewriter turned out to be a safe, and it was unlocked. Inside was over $75 face value in coins. He took it to a pawn shop before calling me and they offered him $50 for it all (LOL). He said his wife was going to just roll it up and take it to the bank but he convinced her to let me look at it first. About $65 face value was pre 1965 silver.

150+ dimes, 170+ quarters, a few halves, nickels and a morgan dollar. Plus some wheaties, and buffalo nickels. No rare dates though in anything. With spot value being what it is, about $1950 find. He was beyond excited.

 

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[victorysgold]

Way to go!

 

[7creeks]

Nice find

 

[10claw]

pawnshops are the same as casino's. all rip off artists.

 

[crazyfish]

They offered him $50 for $75 FACE value?

What kind of moron would even have the guts to offer that?

"Here, I'll give you $10 for your $20 bill....."


Sounds great for your friend!

 

[bjybjy]

They offered him $50 for $75 FACE value?

What kind of moron would even have the guts to offer that?

"Here, I'll give you $10 for your $20 bill....."


Sounds great for your friend!

Yeah I wasn't there, and have no idea how that went down. Seemed pretty odd to me too. After telling him what the value was I told him not to sell without me being there and he thought that was a good idea... And then prompty went home and sold it to a local cash for gold place for $1700 LOL He could have made a couple hundred more, but he had 3 kids about to go back to school so money is tight and he is super excited to have found all this free money.

 

[jewelerdave]

They offered him $50 for $75 FACE value?

What kind of moron would even have the guts to offer that?

"Here, I'll give you $10 for your $20 bill....."


Sounds great for your friend!

thats not the first time I have heard of that happening.

I have heard people have been told the line. "oh, these are out of circulation and I can pay 70% of face for them. or obsolete.

The worst was when I had an elderly couple come up to me at a show and tried to sell me some of the new $1 gold coins...the ones that are just worth a dollar, They had paid $400 each for them because they were told they were a half oz of gold each...sad. just sad.

Amazing thing is. the people who pay fair and do straight business do a lot of business. and Consequently, make up in volume what they would have otherwise made in rips. Word gets around. good and bad.

 

[JD-GA]

Pawn shops and "We buy gold" stores are my greatest advertisement. All it takes is someone seeing what I pay vs what they pay and its like free advertisement.

A good word of advise though.........only buy inside a pawnshop. If you sell there you are getting 50% or less in value on a good day.

 

[silvercop]

i dont know if pawn shops are the same everywhere but around here if you take something into a pawn shop they seem to automatically assume it is stolen and you are a crack head looking for your next hit and will take pennies on the dollar and give you some stupid offer thinking you will take it.
one shop here is so bad i could take a trunk load of coins in worth thousands and tell them something like "i just stole all of this what will you give me?" and they would make me an offer of a few hundred dollars.

 

[mts]

I went into a local sleazy pawn shop and asked if they had any junk silver. The guy said that he was out but should have some in soon. He then boasted that he never pays more than face for it because people are too stupid to know any better. After his boasting he asked me if I wanted to leave my name and number and he would call me when he got more in. I told him "No thanks. If that's the way you do business then I won't be buying anything here." and left. Of course, it's no skin off of his nose if I tell him to shove it and never come back. But it did make me feel better.

Heck, I'd be happy to find someone willing to sell me silver at 75% of melt value. Why do these crooks always end up finding fools who will sell them precious metals at pennies on the dollar?