Thread: pawn star art bars

I was surprised that Corey paid silver spot for them, as he said that he was going to send them right off to get melted. That would mean no profit. The Old Man really pushed Corey to buy them, so my guess is that he either wanted them for himself (he was speaking the praises of physical silver) or more likely he knows of a buyer/collector that would be willing to pay a premium for them. TC

the common ones usually cost, on average, between $6 to $10 over spot on ebay .

And that is basically the RETAIL price for commons. The pawn shop doesn't pay retail. So he was pretty much right a 70's art bar is just melt. Yes we know that there are certain rare ones, but the collectors of them are rare as well. they would have to consider how long it would take them to find such a collector to move it. That could take quote a long time unless they can pass it along to someone else who does have customers for it. But that person is going to have to be able to make a profit on it as well. n eithe case that means that they really don't want to tie up anything over spot in it.

That's why Pawn shops buy different items and specialize in none. Most are terrible when it comes to coins or paper money. If you pass a Pawn shop, go in there. Who knows, you may find some 70's silver art bars. Can't pass up them Coca Cola or "The General" silver bars, those bring a heap load of a premium and I'll bet you anything if the Pawn Stars have some in their shop, then they are sold at a premium.

My favorite 1970's silver art bar "finds"

Originally Posted by TopcatCoin

I was surprised that Corey paid silver spot for them, as he said that he was going to send them right off to get melted. That would mean no profit. The Old Man really pushed Corey to buy them, so my guess is that he either wanted them for himself (he was speaking the praises of physical silver) or more likely he knows of a buyer/collector that would be willing to pay a premium for them. TC

Since that show is recorded, and we don't know on what date it was recorded, it's possible that he paid normal $3-$4 under melt.

Originally Posted by BUncirculated

Incorrect.

Pawn shops do not buy bullion for collector value. Only the bullion value.

I never said that Pawn shops bought bullion for collector value. However, what I was trying to say is that 1.) The owner of the bars that wanted to sell them could have probably sold them on ebay and could possibly gotten a higher price for them as opposed to selling to them to Corey of Pawn Stars and 2.) '70's silver art bars, generally speaking, sell for more than bullion value on ebay but it depends on the art bar. However, there are two things that I do not know and should be answered and they are 1.) What were the specific '70's silver art bars that the person was trying to sell? and 2.) How much do ebay and paypal fees affect the profit of selling them on ebay? Those two answers play a huge role in terms of which outlet would yield the seller the greatest amount of money.

Those two questions I do not know the answer to because I did not watch that specific episode and I have never sold anything on ebay.

The post that you quoted me on was really just an FYI that '70's silver art bars can sell for more than bullion value on ebay depending on the specific art bar. I really was not saying that Pawn Shops buy bullion for collector value. I already knew that pawn shops (and local bullion dealers) do not buy bullion for collector value but thanks for stating that anyway.

Originally Posted by 1970 Silver Art

I never said that Pawn shops bought bullion for collector value. However, what I was trying to say is that 1.) The owner of the bars that wanted to sell them could have probably sold them on ebay and could possibly gotten a higher price for them as opposed to selling to them Corey of Pawn Stars and 2.) '70's silver art bars, generally speaking, sell for more than bullion value on ebay but it depends on the art bar. However, there are two things that I do not know and should be answered and they are 1.) What were the specific '70's silver art bars that the person was trying to sell? and 2.) How much do ebay and paypal fees affect the profit of selling them on ebay? Those two answers play a huge role in terms of which outlet would yield the seller the greatest amount of money.

Those two questions I do not know the answer to because I did not watch that specific episode and I have never sold anything on ebay.

The post that you quoted me on was really just an FYI that '70's silver art bars can sell for more than bullion value on ebay depending on the specific art bar. I really was not saying that Pawn Shops buy bullion for collector value. I already knew that pawn shops (and local bullion dealers) do not buy bullion for collector value but thanks for stating that anyway.

A seller could easily make more on eBay for just about anything than at a pawn shop. People who sell to pawn shops are either in need to quick money or not up to speed on technology.

Originally Posted by Zlotych

A seller could easily make more on eBay for just about anything than at a pawn shop. People who sell to pawn shops are either in need to quick money or not up to speed on technology.

Instant cash is what most people pawn stuff for. Selling on eBay takes time and you have to wait for payment, hassle of shipping item, etc.

Originally Posted by Conder101

And that is basically the RETAIL price for commons. The pawn shop doesn't pay retail. So he was pretty much right a 70's art bar is just melt. Yes we know that there are certain rare ones, but the collectors of them are rare as well. they would have to consider how long it would take them to find such a collector to move it. That could take quote a long time unless they can pass it along to someone else who does have customers for it. But that person is going to have to be able to make a profit on it as well. n eithe case that means that they really don't want to tie up anything over spot in it.

To the pawn shops and the local bullion dealers, '70's silver art bars are treated as .999 generic silver when you sell to them. Actually, ebay, IMO, is the best way to sell rare silver art bars because there is always someone looking for one to add to their collection. It is fairly simple to sell a rare silver art bar on ebay and it does not take very long (6 days if it is a 6-day auction).

Originally Posted by fretboard

That's why Pawn shops buy different items and specialize in none. Most are terrible when it comes to coins or paper money. If you pass a Pawn shop, go in there. Who knows, you may find some 70's silver art bars. Can't pass up them Coca Cola or "The General" silver bars, those bring a heap load of a premium and I'll bet you anything if the Pawn Stars have some in their shop, then they are sold at a premium.

My favorite 1970's silver art bar "finds"

More than likely, you could be right. If Pawn Stars knew anything about how much Coca-Cola bars sold for on, for example, ebay, then, they probably would have bought them for bullion value and turn around and sell them for huge premiums over spot since those are very popular '70's silver art bars and most dealers and collectors know about their popularity.

Speaking of Coca-Cola bars, most local dealers are currently selling Coca-Cola bars for much higher than .999 generic silver premiums. It used to be not too long ago (2-3 years ago) that dealers treated Coca-Cola bars as .999 generic silver but now they are selling them for higher premiums because there is a strong demand for them. Some dealers that get Coca-Cola bars will go directly to ebay to sell them because it makes financial sense for them to do so since several of them will sell anywhere from $45 to as much as $2000+ depending the the type of Coca-Cola bar that they get.

I have lost a lot of respect for both "Rick" and the Amish looking expert. I saw an episode a few days ago where someone brought in a White House pass and an ID card for a guy who was an attorney general and Senator back in the 50s. The guy also brought in a counterfeit $10 bill that was blank on the front and was signed by this Senator and several other people decades ago.

Right off the bat Rick says it is a "felony" to own counterfeit currency. He brings in his Amish looking expert to go over the documents and asks if it would be legal for him to buy the fake yet signed $10 bill. The Amish looking guy says "It is illegal to own counterfeit currency." Both of these guys don't have a clue. It is illegal to produce counterfeit currency and it is illegal to spend/attempt to spend currency that you know is fake. It is not illegal to own a counterfeit note, let alone is it a felony.

If Rick was right, thousands of store owners in the United States who post fake currency by their registers to educate themselves and their employees would be automatic felons. If Rick was right, everyone who finds out they've unwittingly had a counterfeit note in their wallet when they go to spend them is an automatic felon. These people are victims of counterfeiters, they are not felons. Like I say, I have lost a lot of respect for Rick and his Amish looking expert.

I remember my first art bar, a confederate flag from my local coin dealer. Bought that when silver was @ 21 for 28. Then re-sold for 35 a year later...wish i still had it but oh well, and so the world turns.

Then , dear how much profit you get from that sale.

Originally Posted by NOS

I have lost a lot of respect for both "Rick" and the Amish looking expert. I saw an episode a few days ago where someone brought in a White House pass and an ID card for a guy who was an attorney general and Senator back in the 50s. The guy also brought in a counterfeit $10 bill that was blank on the front and was signed by this Senator and several other people decades ago.

Right off the bat Rick says it is a "felony" to own counterfeit currency. He brings in his Amish looking expert to go over the documents and asks if it would be legal for him to buy the fake yet signed $10 bill. The Amish looking guy says "It is illegal to own counterfeit currency." Both of these guys don't have a clue. It is illegal to produce counterfeit currency and it is illegal to spend/attempt to spend currency that you know is fake. It is not illegal to own a counterfeit note, let alone is it a felony.

If Rick was right, thousands of store owners in the United States who post fake currency by their registers to educate themselves and their employees would be automatic felons. If Rick was right, everyone who finds out they've unwittingly had a counterfeit note in their wallet when they go to spend them is an automatic felon. These people are victims of counterfeiters, they are not felons. Like I say, I have lost a lot of respect for Rick and his Amish looking expert.

I believe what Rick did say was it's a felony for him to buy it knowing it's counterfeit.

TO ME art bars are worth melt. That is probably why I own none

Originally Posted by VNeal

TO ME art bars are worth melt. That is probably why I own none

That's all they really are worth, melt.