Acquiring coins at a place where people turn them in to melt

There is a company called Monster Gold coming to a hotel near where I live I was thinking about going in this weekend and see if I can buy some silver coins that people turn in , my questions are as follows: Would you recommend doing this? Would the people sell me the coins for melt value at that time or what they paid the people for turning them in? Do alot of coin collectors go to these things and acquire coins or is it something that people should never do to acquire silver coins?

 

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I know you are not selling but I would steer clear of these events...

Maybe you haven't seen this article and the investigations they have been doing:

Fuljenz and Jordan Win National Awards for Investigations of Traveling Gold Buyers from CoinNews.net 8/13/2010

 

Thanks for the information I guess I will do something else this weekend

 

LOL! A coin dealer is a better (usually safer) place to buy coins.

 

If you went there and asked, they would probably do one of two things: 1) offer to sell them to you at a substantially higher price than they paid, or 2) have security hustle you out the door immediately.

Chris

 

Can't hurt to ask for a manager and try.

 

Im going to avoid going there because I probably would end up paying more than melt, and the coin dealer I go to once in awhile has his prices for silver up there thats why I was considering this but Im not going to now since I read the article.

 

This company is paying the hotel for the use of their space. Do you really think they want someone there who is willing to pay their suckers...........er..........I mean, customers..........more than they are. Heck no! He will be out the door faster than you think.

Chris

 

Security at these events might not be watching out for you, should you be departing with coins or anything of value. These advertised events just seem ripe for criminals to shake you down outside the venue, coming or going... despite the one's inside trying to do much the same under another guise.

 

Never went to a hotel for this, but the cash for gold people I've contacted aren't interested in selling.

 

+1

 

Typically these people who come through the hotels like that have a permit to buy but they don't have a license for resale.