Made my weekly-ish stop at the pawn shop close to work today. They had probably $150-200 FV of silver Washingtons that weren't there last week, in bags or tubes of 20 or 40. All tagged at $9999, as they've been doing with gold and silver for the last month or so. Today, I asked for a price. Long story short, they said $660 for the 40-coin bags, $330 for 20 - just a bit below spot! That was not what I was expecting. No, I didn't buy. But no, I'm not ruling it out. If they put out anything more interesting than Washingtons, I'll be seriously tempted. We'll see.
I wouldn't rule out negotiating on the prices...you know they bought them right, they are in business to make money so a quick sale could be had.
Yeah, I'm sure they were just tired of re-tagging them. And we aren't quite there yet with e-paper electronic tags.
Oh, I've negotiated with them before - but they're part of a big chain (National), and they never come down more than a token amount on stuff like this. Or if they do, I haven't found the right approach with the management. I'll settle for cherry-picking better dates if they show up.
I have NEVER been to a "pawnshop" I have watched "pawn stars" lots of mistakes in their numismatic episodes. I myself, have a Lebanese client, her Father collected Canadian Silver Dollars when they circulated in 50/60s. Five years ago, she owed me $4500 for yearly lawn care bill. She asked if she could trade off for silver dollars. She offered me 500 Silver Dollars vs $4500 bill amt. I was super busy, said OK. Now, I am happy I did. Those weigh 450oz silver Best deal ever, I was in lineup at my bank, ten years ago, lady in front of me had a 1976 Montreal Olympics $100 gold coin in Proof case. She asked teller to change it for $100 cash, Teller refused. I walked over and said I will, and got a second $100 1976 coin. These weigh 18 g gold. So made another good deal! Good to always carry cash....
Yup, hope I can detect if they are or not...magnet, weight and examination with loupe. What's the easiest thing to check with a loupe? PS - not meaning to ambush your thread.
Probably. My local pawn shop does $0.01 on their tags that are spot based. It probably gets people to inquire. $9999 probably does the same, but, I'd think its riskier than just putting 1 cent Fools might really think they mean $10K!
$500 Canadian dollars is 300 troy oz. Every face dollar, regardless the denominations, contains .6 troy oz.
The few times I have been to a pawn shop, on all but one occasion, the owner was as friendly as a junk yard dog. They are concerned that a knowledgeable collector will pick them off.
I would be nervous buying silver at the $90 an ounce price. Maybe this run up will continue, but the merry-go round is going to stop sometime. If it’s like my past experience, when the correction comes, you can’t sell you coins or bullion to anyone until the free fall appears to be over.
