Buying Silver Coins from a Pawnshop
I have watched videos from stackers who frequent pawn shops and find better-than-LCS pricing for silver coins.
So the other day, when I saw one on my way home from a meeting at Sacramento, I decided to find out for myself if this was true.
It felt a bit strange going in because it was my first time ever to be inside one. I was amazed to see the gamut of stuff inside... power tools, computers, flat screens, musical instruments, jewelry and more.
I guess one can conclude that the stuff being sold at pawn shops are things with relative resale value and not just totally fluff since people were able to pawn those things for some amount, like silver coins.
This was what I picked up: US Half Dollar 90% Silver Coins
My first reaction to the price tag was "WHAT? $39.99 for 2$ face US Constitutional silver?!! I can get these online at better prices (and not pay for shipping if my order is at least $99.00)."
And $1 face JFK Half:
Then I recalled the advice from the videos I watched that it was acceptable to price haggle at pawn shops. So I did!
I guess price tags at pawn shops are for buyers who want to pay that price, LOL!
After haggling with the manager, I paid $12.01 per $1 face Franklin Half and $1 face JFK Half. Not bad at all!
And perhaps if I had more practice in price haggling, the pawn shop manager would have lowered the price a bit more.
This experience was so worthwhile for me. I intend to check out pawn shops when the opportunity arises again. Who knows what I will find next time.
Thank you for viewing this article. I will see you again soon! @silversaver888
@silversaver888 is a proud member of #steemsilvergold
Pawn shops by me are shitty the prices on silver suck. I don’t know how they stay in business.
I could tell that someone forfeited their stack, and there was half a roll of US half dollars. I think I will make a special trip to visit the shop again and try to get them below spot. I am glad that I found this place, even if it in a less ideal location.
Good luck bestie.
WOW
Me as well... I would have been content enough that I tried to haggle, but to be successful in lowering the price makes me happy. I will be more daring next time. I have always wondered how other stackers are able to get silver below spot. Now I know how it can be possible, @stokjockey.
Nice find.. way to haggle
I know, right?! I felt very accomplished after the purchase, LOL! Thanks for stopping by, my friend @davedickeyyall.
Nicely done haggling! I try haggling on everything, even gasoline. I'll be like " I'll give ya $1.05/ltr". And they're usually like "sir please leave".
Hehehe... you crack me up! But why not? If it is acceptable to haggle, then why not? I wonder if they do that in coin shows too? Yet, a straightforward transaction is best for me. I prefer to know the last and final price of a thing at the very onset.
Congrats @silversaver888! It looks like you got yourself a pretty good deal. I just passed a pawn shop today and debated about checking it out. I think I will have to do that next time. Haha!
It was an experience for me. I want to do it again!
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Kapow! Don’t let those pawn shop guys rip you off. Way to haggle. I bet next time you go you will get an even better price. 😍