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<p>[QUOTE=&quot;tanstaafl4y, post: 404308, member: 13866&quot;]For two years I worked part-time at a pawn shop...which opens up an entirely different discussion as to pawnshops being a boon or bane to a community.&nbsp; I will say that the store owner was “profit motivated” but did his best to be a benefit to the community.&nbsp; To limit the scope of the discussion to this forums focus.</p><p>&nbsp;</p><p><br /></p><p>&nbsp;The store did not deal in coins before I started working there, “too many variable” the boss said.&nbsp; They would often turn customers with coins away.&nbsp; As the closest thing to an “expert” they encountered, I spoke with the store manager about setting policies regarding loans/sales of coins.&nbsp; The short form was “Let Steve look at any coins that get brought in”.&nbsp; Because a fair and reasonable value could be determined, we limited ourselves to bullion, proofs, UNC (in government packaging).&nbsp; For raw coins or silver I would sit with the customers and show them a copy of the redbook, and PCGS price lists.&nbsp; I would explain the grading is subjective and that we could only offer X amount but a coin dealer may offer more (and I explained the difference between retail rices and what a dealer would likely pay).&nbsp; </p><p>&nbsp;</p><p><br /></p><p>&nbsp;Generally, individuals legitimately seeking a loan would accept my offer and later reclaim their merchandise, but those looking to sell would get ****y and storm out.&nbsp; What I found to be true was the general population greatly overvalues “old coins” and that coin collecting has a negative stereotype of being “snobby and elitist”.</p><p>&nbsp;</p><p><br /></p><p>&nbsp;Most of the uninformed individuals (wanting to sell) I dealt with received coins through inheritance or as gifts and did not want to be bothered by learning “about this crap”.</p><p>&nbsp;</p><p><br /></p><p>&nbsp;One incident sticks clearly in my mind, and individual brought in a horde of silver- dollars,dimes, quarters about 100 pieces.&nbsp; As I was explaining that most was “junk” and worth melt, but that these were...The guy cut me off before I could tell him they were “key dates” and said “I&#039;ll take $250 for all of them”.</p><p>&nbsp;</p><p><br /></p><p>&nbsp;Now here is where the assumption come in...how many of you are thinking this guy is a meth-head or stole the coins...actually he was a tenured college professor, long time customer – of our retail “store” who received the coins from a dead uncle (facts verified) and had no desire to deal with the coins actually he wanted to use the coins in trade for a firearm.</p><p>&nbsp;</p><p><br /></p><p>&nbsp;The store profited about $1200 when both transactions are considered.&nbsp; Did his ignorance and apathy make us “the ethical bad guy”?&nbsp; After all he got what he wanted ($250 in credit).[/QUOTE]</p><p><br /></p>

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