Gold coin on Pawn Stars

I like this show but sometimes I have a hard time believing that they really operate that way. Tonight a guy came in with a spanish gold coin from I believe the 1700's. He wanted $2000 for it. Of course Rick had to call an expert friend of his in to authenticate it.
Now why would he not call his buddy and tell him what he thought he had and ask him that if it is indeed authentic how much is it worth, and then when he looked at it and said yes it was authentic say he would not want to guess on a price.
As it was the guy came in said it was the best example he had ever seen and said it was worth aqpprox. $18,000. Rick haggled with the guy and got it for $11,000. Either this is the most honest pawn broker in the world or there is something wrong with this picture. He could have easily gotten that coin for $2000!!!!

 

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I love the show too

But he calls experts so he can make sure its not a counterfit, i mean you wouldnt want to spent 2,000 dollars on a counterift coin would you? Also, He haggles them because he's been in the business so long he knows how people operates. He has to make a profit and he knows how to do it. Also people probably settle less because of the economy? just my guess

 

i think biggie was trying to get at was.... he could of not had the expert say a price and not come out and say it was the best one he ever seen.

i was joking around saying he should cut the experts in and have key words for good stuff and let the people thinks its junk. just that the junk is still worth a little bit, enough for him to buy it.

 

I guess you might want to be safe than sorry, but it ended up costing him. However, I imagine he can still turn around and sell it for 20k with his connections. I agree with you about just having key words to try and underbuy the coin but I just like it when they have no clue to the cost and have to call in a "buddy". If I was a seller I would think great I am going to get screwed.

 

pure BS

 

It wouldn't look too good on national television showing Rick cheating a man out of thousands of dollars. The ratings would take a nosedive.

Chris

 

I hear you. It has been my experience that the Pawn Brokers here in Vegas don't bother to call in experts because they offer so little, it doesn't matter if it's fake. I mean if they pay $500 for a $10,000 item, they will sell it for at least $1,000. I believe the TV plays the biggest part of all this. If you watch the "Old Man" closely, honesty is not the issue but profit is. He is always saying stuff like "If it was perfect, it would be worth $500, but it's not perfect so I can give you $25. Take it or leave it". That's the Pawn Brokers I know about anyway. LOL

If the transaction had not been a part of the TV show, I agree that they would have gotten the coin for $2,000 or less. IMHO

Pawn Brokers here are surrounded by desperation. Most of the clients really need money very badly and have no place else to turn. Why else would you sell your items for pennies on the dollar ? Ever since I was offered $35 for my 1932 S Washington, it made me more aware of how things work here. I knew that for new condition tools, the shops offer about 20% of replacement cost. They sell them for about 75-80% of replacement cost. It was always cheaper for me to buy new in a retail outlet and get a warranty than to save 15% buying at a Pawn Shop. I never sold or pawned anything because the money offered was so little, it hardly seemed worth it.

 

I just wanted to say how much I dig the pawn shop by my house, to buy coins that is. He calls me every time anything coin related comes out of pawn.

This week I picked up a quarter dansco album for $225. It had 64 silver and 64 clad from 1935 - 1992. He doesnt care at all about any collectible value. He charged me spot for the silver and face for the rest, and the book was a bonus! I also bought 4 uncirculated presidential dollar rolls for $55 each. What the heck did he give the guy that pawned them I wonder...$51? Who would pawn $50 in dollar coins for $50?
Anyway, he has piles of stuff that I just don't have the cash for.

 

It sounds like you got a pretty good deal on the quarters, but not so good a deal on the Prez $'s. You can buy 10 rolls ($250) from the Mint for face value with free shipping.

Chris

 

Also as chris said above if there was some misleading prices from the expert going on behind the sellers back, and it was aired in national tv...bye bye ratings, fans, customers, pawners, sellers, etc.

 

You do know that those rolls of Presidential Dollars contain 25 coins each (not 50 coins), don't you?

 

His opinion of that pawn shop just took a nosedive, lol.

 

yeah, I've seen a few of those come through my local shop, people come in expecting to get rich off their great investments, then leave disgruntled and unhappy.

 

Is it a requirement of the show that everybody who works in the "pawn shop",
and everyone who comes in with an item all have large tattoos?

 

The rolls definetly contain 50 dollars. They are the clear ballistic rolls in the triangle box, not from the mint, but uncirculated nonetheless.

Well, not triangle, these:

 

Tattoos? Did you see the tattoos on the lady that works for the two dudes on American Pickers? Wow!!! The Illustrated Woman.

 

Yeah, Pawn Stars is all staged. The last thing I'd do if I wanted an expert opinion is use the buyer's expert - I'd hire my own expert.

 

That's the fashion here in Las Vegas right now. Club scene is the hot thing, so that means TaTs, sleeves, etc. Even the military can now sport them. Remember this is a tourist driven economy. We are the "Party" place. So fashion needs to be cutting edge, and everyone goes along for the ride.

 

The lady on american pickers is creepy..her whole chest is covered with tatoo's i bealive daniel is her name.