pawn star art bars

anyone see the pawn stars last night where Corey told the guy that 70's silver art bars will never be worth more than melt?

 

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Well, perhaps to some collectors they'd be worth more. I'd probably only buy such things at melt price since I don't collect art bars, so he's not totally wrong. You have to look at it with the Pawn Shop's perspective, he'd buy those bars and they could sit unsold for months or even years until the right collector walks in.

 

Because some guy at a TV pawn shop is the end all expert when it comes to collectibles.... HA!

 

Then there was one episode where Rick was going through a bunch of Morgans on the desk, just sliding them around and getting fingerprints all over them. None looked better the XF. Then he happened to look at one 188x and noted that it was a CC and said that ANY CC Morgan was worth at least $500.

Chris

 

Pawn shop guys know it all, cause they see and sell it all.

 

Yeah I remember that one. Made me want to grab a bunch of circulated CC's and fly to Vegas. I must be rich!

They are only casual experts, knowing who to call or where to look if they think something may be valuable. They are in no way experts in any coins. Its only fair, they are not collectors nor coin dealers, they are just pawn brokers.

 

Filthy rich and TV celebrity people can do such things, cause they're filthy rich and they're on TV. :thumb:

 

To a pawnshop, that is 100% correct. They would never pay over melt for bullion silver regardless of the form it's in.

 

I did not see that pawn stars episode but that is not completely true about '70's silver art bars since there are several that are worth much more than current silver value. It depends on the silver art bar.

Some of them are worth about $5-$10 over spot on ebay and some are considerably worth more than spot silver price. For example, a lot of the '70's holiday-themed silver art bars are not worth much on ebay because there are so many that were produced during the '70's. On the other hand, there are some Coca-Cola silver art bars that will sell anywhere from $10 over spot to as high as nearly $3000 on ebay. Certain adult-themed silver art bars that were minted in the 1970's will also sell for much more than spot price. For example, the 1973 Colonial Mint nude Marilyn Monroe 1-oz silver art bar will sell anywhere between $45 to $75 (or possibly more) on ebay. Greathouse Production silver art bars are very rare (mintage range between 50 to 275) and those sell anywhere from 2X spot to 5X spot on ebay.

The pawn stars person named Corey was just looking at the them as "an oz of silver is just an oz of silver" and did not understand (or maybe did not care) about the collector value that some of these can fetch on ebay.

 

IMO I would never pay over spot for an art bar. But then again I wouldn't even pay spot for an art bar. I was suprised they offered him full melt at all considering it being a pawn shop. Guess there are some rare ones due to the comment above, but I obviously have no experience with them.

 

I have paid spot price for a silver art bar in the past but that is very rare occasion. I have paid under spot for a silver art bar in the past but that has only happened twice during the 3 1/2 years that I have been collecting silver art bars. Paying over spot for a silver art bar is the norm for me and actually it is cheaper for me to find a silver art bar at a LCS or coin show because most dealers will treat (and price) them as .999 generic silver and the common ones usually cost, on average, between $6 to $10 over spot on ebay . Even if I buy a silver art bar at the LCS, then, at the very least, I am going to pay .999 generic premiums for them. As a matter of fact most .999 generic silver that is sold at the LCS in my area are selling at $3 over spot. I have bought rare silver art bars on ebay and I do not mind paying the "collector's premium" for it because I buy what I like.

In my case, I am a just a collector. I am not a real silver stacker.

 

was that the one with the old man's vision problems? he was like "find the carson city" i cringed

 

Ditto Sir :thumb:, pawn star folks just looking for $$$$$, buy low sell high :yes::dead-horse:

 

Incorrect.

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

 

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

 

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.
:yes:
http://www.cointalk.com/t55843/

 

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.

 

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.