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<p>[QUOTE=&quot;Detecto92, post: 1661895, member: 75105&quot;]Ever wondered what it&#039;s like to pawn something in real life? Keep reading and find out. </p><p><br /></p><p><br /></p><p>So I have a bill due, but not getting money until a week after it&#039;s due date, so I took some of my coins down to the pawn shop.</p><p><br /></p><p>I wasn&#039;t going to sell them, just paying the bill and using the money coming to buy them back. So I planned on pawning them.</p><p><br /></p><p>The pawn store was ran by an older couple, who seem to not know very much about coins.</p><p><br /></p><p>This is what threw me for a loop, they had been there for 5+ years, but they did not use a Redbook, nor a grey sheet.</p><p><br /></p><p>Instead, they used completed eBay listings, not even taking the fact that they were PCGS graded. </p><p><br /></p><p>So one of my coins was an &quot;1831 Capped Bust Half Dollar VF35&quot;. So they just put in &quot;1831 bust half vf&quot;. </p><p><br /></p><p>They took the cheapest completed one, harshly cleaned, that sold for $30, and that was &quot;my price&quot;.</p><p><br /></p><p>The other 3 coins was a 1892 MS63 Colombian Expo. Half Dollar, an 1853 Seated Dime VF30, and a 1944 Half Dollar.</p><p><br /></p><p>My &quot;loot&quot; was worth $75.</p><p><br /></p><p>Now the &quot;realistic&quot; price on these items were totaled to around $225. If we add up the &quot;list price&quot; it&#039;s $285.</p><p><br /></p><p>My &quot;offer&quot; was $75, so about 30%, which is rather low, but again, I did not care what I was offered, because I was not selling them, just pawning them.</p><p><br /></p><p>It took about 2 minutes for them to fill out paperwork, they took my ID, jotted down all the info from it, and made me sign a line.</p><p><br /></p><p>My &quot;finance charge&quot; was $15.00, or 20%. My state has a law that pawnbrokers can only charge up to 20% interest. </p><p><br /></p><p>The entire process probably took 15 minutes. </p><p><br /></p><p>They put my stuff in a plastic bag, so it won&#039;t get mixed up with other&#039;s.</p><p><br /></p><p><b>Here is my conclusion:</b></p><p><br /></p><p>While this particular pawnshop needs a better way to price coins, I must say, if you need a loan, it&#039;s perhaps the best way to get one. But I only recommended it if you have an absolute guarantee of future income. Otherwise you may loose all your stuff.</p><p><br /></p><p>Pawn shops are really not the place to sell something, but perhaps the best place to get a small loan.[/QUOTE]</p><p><br /></p>

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