Hello everyone I have a quick question. I have just recently started a coin collection and I have mostly been just searching my pocket change and such for pennies that I need to fill the voids in my books. Anyways, I was just wondering I live in a somewhat small town about 33,000 people and there are about 2-3 pawn shops. Is a small town pawn shop diesent place to look for coins if you have a redbood for reference... there are also several real small towns very close by so I'm sure there there are even smaller ones around. Or do they just ask sky high prices for coins. Besides roll searching, this was just another place tp look. My town and surrounding towns have been hit very hard by unemployment due to maytag and other very large name businesses shutting down and moving to Mexico. So I am thinking as times get worse they are cashing any valuables (coins in particular). Anyways what are your thoughts, ideas, or concerns... Thanks Mike B
Depends on the shop. I always had luck in a local pawn shop if I wanted ASE's. They sold them for the price of silver that day, and nothing more. Needless to say they didn't stay on the shelf long. They told me they bought at 5% below spot and just wanted to move them because they're not into coins that much. Unfortunatelly they retired and closed. Maybe you'll have as much luck. Guy
This is what I've run into at pawn shops. You can always ask people at yard/garage sales if they have any coins for sale. Many never think to put that type of thing out to sell. Just make sure to offer fair prices, as karma is real, especially in the coin world.
I would not use a redbook for pricing. I have only been in one local pawn shop and the pricing was high. Almost 1.5x's what you could get for pricing. If you are going to shop pawn shops then you need to how to grade and how to determine a price for the coin(s) in question. I think you just need to know what you are doing.
If I could get the deals like coleguy I would be in good shape! Can't really lose in that situation...
I didn't often get that good deal. As you can imagine, unless you're there soon after they put them out, they went fast.
I would look in your local papers, or in our town a free paper called the pennysaver, for local auctions. Look for the ones that will state coins. Go to them and you'll be surprised at the deals that you can get.
The larger ones do, but the prices are usually jacked up. It never hurts to look, though. Sometimes you can catch some stuff that hasn't been re-priced in a few years.
