My pawn shop experience.

Around here, coins aren't wanted as collateral on loans. Dont know where you are, but this is becoming more the norm.
The old-school pawnsters are retiring w/their knowledge. Today has turned more the firearm/electronic era.

 

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Have you ever considered that maybe the PCGS price guide.... is just a guide...

 

So let me get this straight; you now think PCGS pricing is the end all be all, but completed sales are not accurate? Funny this coming from the same guy who has so freely doled out price guide advice and how they are rarely correct, but I sure am glad that you have now shown us the light.


Considering you obviously know more about their business than they do, maybe you should apply for a job. I am sure you would rake in the cash loaning their money at straight retail guide prices, and you can use your highly successful ebay purchases and resales as an experience reference.




Oh, and no one "[FONT=&amp]could [/FONT][FONT=&amp]of[/FONT][FONT=&amp] made[/FONT]" anything. It's "could HAVE...”.

 

Detecto, using pawn shops is extremely regressive. Sell off a little of your collection as you need the money. Don't borrow at 240% yearly. That will never help you out of your financial difficulties.

 

It depends on which side of the deal you're on. For your benefit, it's only a guide. For his benefit, it's gospel.

 

That isn't a bad idea. You have mentioned more then a few times your desire to work, how many pawnshops have you applied at? Give it a shot, just remember they do more then gold,silver,and coins, so be humble. Working at such a place will teach you much and also make you see the position you have put yourself in by seeing all of the other people come in needing a loan.

 

Geek,

I did not recently buy these coins, I have had them for months.

I could of went longer without paying the bill, but then I would of been charged a late fee, which is around $15, or the amount the finance charge was at the pawn shop.

 

So, because you bought coins earlier instead of saving money to cover your bills, you're going to be paying $15 to a pawn shop to get nothing, instead of using it to buy more coins (or, more wisely, pay more bills).

You're Doing It Wrong.

 

Sorry you are having such a hard time..You should post when you redeem the coins....It's a tough economy right now. Only to get worse..People will be looking to buy that silver should you default. I wonder how the brokers will price those coins? Ebay no doubt. Look for them there if you default. I hope you get them back soon.

 

Pawn shops - another way to levy taxes on people who are not good at math...

One of my long-time bandmates was a pawnbroker for about 25 years or so. I've spent way too many hours hanging around pawn shops as a result. If you get 25% of what they price something at when they sell it, you've done great.

You can occasionally get deals at pawn shops, though. My studio contains some nice vintage Fender & Rickenbacker basses that I got for about 1/10 of what they were actually worth. Pawn shops here in Nashville are built on the shards of broken dreams and used to be treasure troves of musical equipment, but since eBay selling has become commonplace for pawn shops, deals are fewer and further between...

 

The pawn shop that I pawned my stuff to, as mentioned previously, knows a little about coins, but very little on foreign. They set up at a flea market once. I bought around $45 worth of foreign coins, and made over $250 on the lot. Lots of nice early british coins.

 

I wonder if the pawnbroker went on cointalk and told Tim. "I don't know much about coins, but this Detecto guy told me that I should value coins based upon eBay listings."

 

Question: Is this bill a debt owed?

 

Why not try to take advice for what it's worth instead of constantly discounting it?


At least one was the subject of a newps thread not that long ago, so why act as if you've had them all lying around for a while? Even if you really did have them for months, the fact is that you again had to live in the moment and play the big time collector instead of wisely saving to pay your bills. You've been here before so what have you learned?

With all due respect, Tim; taking all that you've said in this and other threads into consideration, the only conclusion that I can come up with is that you, regardless of how you like to portray yourself, also know relatively little about coins, so please stop knocking the very people you had to turn to for money. Obviously they must know something.

 

We're not at 11 pages yet??????

 

Kasia, I'll tell you what I think about this thread...........

There! I've gotten that off my chest. Now, let's get back to talking about nice coins on some other thread.

Chris

 

1. The value they put on your coins being low did you a favor as you will have a hard time paying back the money and % you owe. They are actually doing you a favor by not giving you lots. lol

2. If you can't afford your bills stops buying, submitting coins. Wise up with money dude.
Income - expenses = extra And I'd suggest that you not spend any extra until you have 6 month of monthly expenses saved up.

 

Give it time, meanwhile go get a refreshing beverage. Be it tea, malina Kvas, coffee or whatever you imbibe in. You might could come back and find that your expectations are at least met and perhaps even exceeded.

 

Some shops loan as much as 90% of the value. They want the 200+% interest and love folks that renew loans. If they are just buying the item, they offer about 25% of value. They make money.