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<p>[QUOTE=&quot;Owle, post: 1125433, member: 22004&quot;]I&#039;m sure there are honest people running pawn shops as an earlier poster is apparently in that category. A fair profit margin is based on accepted business practice among seasoned professionals who do not rip off buyers or sellers, or accept merchandise that is likely stolen for cash without proper record keeping.</p><p>&nbsp;</p><p>A few of my recent interactions with pawn shops: I bought a 1oz. gold U.S. eagle and a proof eagle for $1350 each from a shop in Virginia. The guy said he had recently bought many (40-50) proof eagles at his shop after asking the seller what he wanted--$500 each. Think the pieces were &quot;hot&quot; at that price??? You betcha!!!</p><p>&nbsp;</p><p>I stopped at another pawn shop where the guy always asked what I was willing to pay for his gold coins and always asked what I wanted for what I was selling, he had no prices posted on his gold coins--this is unscrupulous and unethical business practice. He insisted on cash for one better date coin. I drove a couple hours to the bank and back to get him the required cash and when I got back he said he had not checked the date of the coin in the price guide--that he assumed it was priced at around common date. He said he would not sell though I had the cash with me. I said that those who do not honor their word in this business do not survive very long. I have lost a lot of money by honoring my word even when it was not convenient to do so!</p><p>&nbsp;</p><p>I reported him to his state&#039;s AG and Consumer Affairs department and will be following up with other agencies that may be interested. The state of North Carolina is getting tough with pawn shops--I saw cable news coverage of government hearings on new rules.</p><p>&nbsp;</p><p>To me the issue of government intervention in corrupt business practice is not about them getting more money but getting businesses to play by the rules. I have no sympathy whatsoever for unethical business practice.[/QUOTE]</p><p><br /></p>

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