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Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


As I mentioned in a thread I posted yesterday, I'm big on collecting silver U.S. coins. I only buy junk silver coins. I have no interest in Numismatic value whatsoever.

Anyways, yesterday afternoon I stopped in a pawn shop on my way home and they had 12 silver quarters in the case.  Nothing special.. Mostly 1964's and a few late '50's. They were priced at $12.95 each - only a moron would pay that when spot price is currently about $4 each.

I checked spot price and came to an amount I'd offer before calling the sales person over.

Conversation went as follows. (paraphrased)

Me: I'm interested in these. Will you take $50 for all 12? (slightly over spot price)

Him: No way. We need at least $125 for all of them.

Me: That's way over spot. Silver is way down!

Him: But they have collector value.

Me: Not really. They're mostly 1964's (8 of the 12)

Him: Well, we're not working for free. We have to make a profit.

Me: Well, I know what you paid for them and what I'm offering doubles your money.

Him: How do you know what we paid for them?

Me: I know that you pay about half spot price because I came in to sell you some a few months ago. (I didn't sell)

Me: I'm offering you double what you paid.

Him: Well, they were pawned 90 days ago and we paid more for them.

Me: I know what they were going for 90 days ago, and even when it was at it's peak, you still paid only about $2.50 each. I'll go to $60 for all of them.

Him: No can do, and walked away.


He also said he just put them out that morning (not sure if that's true or not). He also went back and asked the owner if they could go lower and came back at $100.. still way too high.

Question:
If you were the decision maker, would you rather double your money with a quick sale (assuming they really were put out just that day), or would you rather sit on them and wait for the price to come back up.. which even at it's peak didn't come close to $100 for the lot.
Jun 15 13 05:21 am  Link  Quote 
Photographer
Cherrystone
Posts: 35,962
Columbus, Ohio, US


Well....given their age, I'm gonna assume they didn't look like they were hit with a belt sander, so yeah they do have some numismatic value, folks like to fill the holes in their little blue books. I don't have anything close to a current gray sheet on hand, so I can't guess what that might be.

Personally on a quick turn on collectibles/antiques I'd be happy with 30-50%, depending on the total price, and actual street value.

That said, I didn't have the cost of an entire store in my lap, I only rented space, & paid show fees. Maintaining an entire storefront is expensive.

Do they think people are idiots? Well......look at the nature of the pawn business. wink
Jun 15 13 06:05 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


Cherrystone wrote:
Well....given their age, I'm gonna assume they didn't look like they were hit with a belt sander, so yeah they do have some numismatic value, folks like to fill the holes in their little blue books. I don't have anything close to a current gray sheet on hand, so I can't guess what that might be.

Personally on a quick turn on collectibles/antiques I'd be happy with 30-50%, depending on the total price, and actual street value.

That said, I didn't have the cost of an entire store in my lap, I only rented space, & paid show fees. Maintaining an entire storefront is expensive.

Do they think people are idiots? Well......look at the nature of the pawn business. wink

Just checked Coinflation.com.. Rated Fine they're about $6 each. These were at best rated Good.

I understand the store has overhead.. But they're not banking the entire existence of the store on the sale of these 12 coins. In my mind a 1 day 100%+ profit on a single item is pretty damn good!

I might go back again today and try and make a deal. I've dealt with the actual owner on some other coins I bought there and I got them for about the same % over spot that time.

The guy I was dealing with this time was more combative and defensive, than trying to make the sale.

Jun 15 13 06:19 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


Cherrystone wrote:
Do they think people are idiots? Well......look at the nature of the pawn business. wink

P.S. I would think that even an idiot who'd be interested in buying these coins knows their asking price is way way out of line!

Jun 15 13 06:20 am  Link  Quote 
Photographer
Gianantonio
Posts: 7,712
Minneapolis, Minnesota, US


John Jebbia wrote:
As I mentioned in a thread I posted yesterday, I'm big on collecting silver U.S. coins. I only buy junk silver coins. I have no interest in Numismatic value whatsoever.

Anyways, yesterday afternoon I stopped in a pawn shop on my way home and they had 12 silver quarters in the case.  Nothing special.. Mostly 1964's and a few late '50's. They were priced at $12.95 each - only a moron would pay that when spot price is currently about $4 each.

I checked spot price and came to an amount I'd offer before calling the sales person over.

Conversation went as follows. (paraphrased)

Me: I'm interested in these. Will you take $50 for all 12? (slightly over spot price)

Him: No way. We need at least $125 for all of them.

Me: That's way over spot. Silver is way down!

Him: But they have collector value.

Me: Not really. They're mostly 1964's (8 of the 12)

Him: Well, we're not working for free. We have to make a profit.

Me: Well, I know what you paid for them and what I'm offering doubles your money.

Him: How do you know what we paid for them?

Me: I know that you pay about half spot price because I came in to sell you some a few months ago. (I didn't sell)

Me: I'm offering you double what you paid.

Him: Well, they were pawned 90 days ago and we paid more for them.

Me: I know what they were going for 90 days ago, and even when it was at it's peak, you still paid only about $2.50 each. I'll go to $60 for all of them.

Him: No can do, and walked away.


He also said he just put them out that morning (not sure if that's true or not). He also went back and asked the owner if they could go lower and came back at $100.. still way too high.

Question:
If you were the decision maker, would you rather double your money with a quick sale (assuming they really were put out just that day), or would you rather sit on them and wait for the price to come back up.. which even at it's peak didn't come close to $100 for the lot.

Oh I'm sure you know way more about running a pawn shop than the owners of the pawn shop... 

What's with people!  I get you are frustrated they didn't play the game you wanted to play--that you offered what YOU thought was a good, fair price.  But get over it--they wanted a better price.  The owner probably knows, from experience in the pawn business, that someone will buy them for over $100.  Move on...

When you own a pawn shop you can run it the way YOU want.

Jun 15 13 07:12 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


Gianantonio wrote:
Oh I'm sure you know way more about running a pawn shop than the owners of the pawn shop... 

What's with people!  I get you are frustrated they didn't play the game you wanted to play--that you offered what YOU thought was a good, fair price.  But get over it--they wanted a better price.  The owner probably knows, from experience in the pawn business, that someone will buy them for over $100.  Move on...

I think he thought he had a sucker.

Jun 15 13 07:14 am  Link  Quote 
Photographer
Salater Photography
Posts: 7
Los Angeles, California, US


I've been a precious metals commodities broker for over twenty years. I get a kick out of people who are stuck on spot price and think that anything charged over that is profit. Not true.

The spot price is based on a contract for a future purchase in the next twelve months, cash purchase, no delivery, and for 'good' bars.

If you're some guy in a pawn shop or calling some dealer, you will always pay more than spot, always. I've been in the business my whole life and I pay more than spot. In fact, the company I work for buys millions of dollars of precious metals at a time and they pay over spot. But people hear on the radio or news "gold is 1460 an ounce today" and think that is the price for their coins or bars and anything charged above that is a markup or ripoff. Not true.

In the story you posted, yes. The shop is charging too much, obviously. And the value of coins is easily verified by going to pcgs.com or checking the coin red book.

If you're interested in buying gold and silver coins, don't go into some pawn shop or small local dealer. You don't even know if what you're buying is real. Go to an established dealer and one who will also buy it back at a reasonable price. I see tons of you 'spot guys' haggle about the price over spot for days and then have no place to sell it years down the line and end up taking pennies on the dollar. Apmex.com is a good place to buy online and they buy back too.

I'm dealing with large institutional buyers now and large IRA's but years ago, I would take calls from people and if they demanded, "What is your markup over spot?" I would just hang up. No use trying to educate them and even if you did, the trades were for small amounts and not worth it.
Jun 15 13 07:29 am  Link  Quote 
guide forum
Photographer
GPS Studio Services
Posts: 34,407
San Francisco, California, US


Gianantonio wrote:
Oh I'm sure you know way more about running a pawn shop than the owners of the pawn shop... 

What's with people!  I get you are frustrated they didn't play the game you wanted to play--that you offered what YOU thought was a good, fair price.  But get over it--they wanted a better price.  The owner probably knows, from experience in the pawn business, that someone will buy them for over $100.  Move on...
John Jebbia wrote:
I think he thought he had a sucker.

Pawn shops survive by purchasing things for ten cents on the dollar and selling it for 110 cents on the dollar.   To answer your question, for what they paid for the stuff to begin with, they can afford to keep it until someone pays the inflated priced.  That is the nature of the business.

Jun 15 13 07:32 am  Link  Quote 
Photographer
rp_photo
Posts: 42,488
Houston, Texas, US


Cherrystone wrote:
Do they think people are idiots? Well......look at the nature of the pawn business. wink

It's a business geared towards the "low information" customer, and likely to frustrate the more intelligent.

Jun 15 13 07:35 am  Link  Quote 
Photographer
Paolo Diavolo
Posts: 8,141
Pleasant Hill, California, US


They're waiting for an idiot to come in and make an emotional buying decision, not a logical decision.
Jun 15 13 07:36 am  Link  Quote 
Photographer
rp_photo
Posts: 42,488
Houston, Texas, US


Paolo Diavolo wrote:
They're waiting for an idiot to come in and make an emotional buying decision, not a logical decision.

To me, pawn shops are like Craigslist: Something to avoid.

Jun 15 13 07:39 am  Link  Quote 
Photographer
Farenell Photography
Posts: 17,846
Albany, New York, US


What did you expect?

They're a business & need to turn a profit.
Jun 15 13 07:40 am  Link  Quote 
Photographer
GCobb Photography
Posts: 15,885
Southaven, Mississippi, US


If someone wants them bad enough they'll pay for them, being too high or not.  Stores also have overhead, may have lost money when they paid for them up front or whatever.  There may be a reason the price is too high, not just because they think people are suckers.

I saw two DVD players in a pawn shop once.  They were identical with different prices.  When I brought it to the attention of the guy there he said I should buy the cheaper one, rather than raising the price.  He said he had more money in the other.
Jun 15 13 07:45 am  Link  Quote 
Photographer
rp_photo
Posts: 42,488
Houston, Texas, US


GCobb Photography wrote:
I saw two DVD players in a pawn shop once.  They were identical with different prices.  When I brought it to the attention of the guy there he said I should buy the cheaper one, rather than raising the price.  He said he had more money in the other.

Sounds a lot like a photographer valuing their work based on how much they're spent on gear.

Jun 15 13 07:47 am  Link  Quote 
Photographer
C h a r l e s D
Posts: 9,304
Los Angeles, California, US


Go back in a month.  See if your offer carries more weight.  It might.
Jun 15 13 07:54 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


Salater Photography wrote:
I've been a precious metals commodities broker for over twenty years. I get a kick out of people who are stuck on spot price and think that anything charged over that is profit. Not true.

The spot price is based on a contract for a future purchase in the next twelve months, cash purchase, no delivery, and for 'good' bars.

If you're some guy in a pawn shop or calling some dealer, you will always pay more than spot, always. I've been in the business my whole life and I pay more than spot. In fact, the company I work for buys millions of dollars of precious metals at a time and they pay over spot. But people hear on the radio or news "gold is 1460 an ounce today" and think that is the price for their coins or bars and anything charged above that is a markup or ripoff. Not true.

In the story you posted, yes. The shop is charging too much, obviously. And the value of coins is easily verified by going to pcgs.com or checking the coin red book.

If you're interested in buying gold and silver coins, don't go into some pawn shop or small local dealer. You don't even know if what you're buying is real. Go to an established dealer and one who will also buy it back at a reasonable price. I see tons of you 'spot guys' haggle about the price over spot for days and then have no place to sell it years down the line and end up taking pennies on the dollar. Apmex.com is a good place to buy online and they buy back too.

I'm dealing with large institutional buyers now and large IRA's but years ago, I would take calls from people and if they demanded, "What is your markup over spot?" I would just hang up. No use trying to educate them and even if you did, the trades were for small amounts and not worth it.

I definitely understand that I'll pay above spot price and sell below it. My point is, I know what the pawn shop bought them for and it's about 50% of what they're worth. Even if they bought them at silver's high, they paid about $2.50 each. My offer was double the amount they paid.

Call me crazy, but if I'm the owner, a 100% gain on my money, I'm taking it.

Jun 15 13 07:58 am  Link  Quote 
Photographer
GCobb Photography
Posts: 15,885
Southaven, Mississippi, US


rp_photo wrote:

Sounds a lot like a photographer valuing their work based on how much they're spent on gear.

If you can successfully run a business without making money please share the secret...or publish a book and give it away.

Jun 15 13 08:02 am  Link  Quote 
Photographer
rp_photo
Posts: 42,488
Houston, Texas, US


John Jebbia wrote:

I definitely understand that I'll pay above spot price and sell below it. My point is, I know what the pawn shop bought them for and it's about 50% of what they're worth. Even if they bought them at silver's high, they paid about $2.50 each. My offer was double the amount they paid.

Call me crazy, but if I'm the owner, a 100% gain on my money, I'm taking it.

"High-information" people like you aren't worth it to them, and I don't see logic and reason winning an argument with a typical pawn shop person. It's kind of like the adage about wrestling with a pig in mud.

Jun 15 13 08:08 am  Link  Quote 
Photographer
rp_photo
Posts: 42,488
Houston, Texas, US


GCobb Photography wrote:
If you can successfully run a business without making money please share the secret...or publish a book and give it away.

Say two photographers produce similar work, but one has twice the expenses of the other. How many customers would be willing to pay one twice a much as the other if given a choice?

Or what if a retail store had two identical items side-by-side with one priced twice as much as the other?

Jun 15 13 08:12 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


If a 100% gain on a single item isn't enough to keep a business afloat, even with overhead.. it's not a very sound business.
Jun 15 13 08:15 am  Link  Quote 
Photographer
Clarence Zimmerman
Posts: 4,044
Orlando, Florida, US


Most places I've been to are buying at spot or just below it. Offer 10-20% above spot and see what happens.  Only a few silver coins these days are worth more than spot.
Jun 15 13 08:18 am  Link  Quote 
Photographer
KonstantKarma
Posts: 2,513
Hickory, North Carolina, US


It's called "pawn" for a reason.
Jun 15 13 08:20 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


KonstantKarma wrote:
It's called "pawn" for a reason.

I'm mostly wondering who they think is going to buy them for their asking price.

Jun 15 13 08:26 am  Link  Quote 
Photographer
rp_photo
Posts: 42,488
Houston, Texas, US


John Jebbia wrote:
If a 100% gain on a single item isn't enough to keep a business afloat, even with overhead.. it's not a very sound business.

It's a business much like payday loans or rent-to-own in that it's geared towards fleecing the desperate.

Jun 15 13 08:27 am  Link  Quote 
Photographer
nwprophoto
Posts: 13,902
Kalibo, Western Visayas, Philippines


Pawn shops around here try to sell used, worn out stuff for what
you could go out and buy it new for. They must find suckers somewhere..
Jun 15 13 08:27 am  Link  Quote 
Photographer
John Jebbia
Posts: 27,608
Phoenix, Arizona, US


rp_photo wrote:
It's a business much like payday loans or rent-to-own in that it's geared towards fleecing the desperate.

Sure.. but the desperate are the ones selling.. not the ones buying.

Jun 15 13 08:29 am  Link  Quote 
Photographer
Cherrystone
Posts: 35,962
Columbus, Ohio, US


Salater Photography wrote:
I've been a precious metals commodities broker for over twenty years. I get a kick out of people who are stuck on spot price and think that anything charged over that is profit. Not true.

The spot price is based on a contract for a future purchase in the next twelve months, cash purchase, no delivery, and for 'good' bars.

If you're some guy in a pawn shop or calling some dealer, you will always pay more than spot, always. I've been in the business my whole life and I pay more than spot. In fact, the company I work for buys millions of dollars of precious metals at a time and they pay over spot. But people hear on the radio or news "gold is 1460 an ounce today" and think that is the price for their coins or bars and anything charged above that is a markup or ripoff. Not true.

In the story you posted, yes. The shop is charging too much, obviously. And the value of coins is easily verified by going to pcgs.com or checking the coin red book.

If you're interested in buying gold and silver coins, don't go into some pawn shop or small local dealer. You don't even know if what you're buying is real. Go to an established dealer and one who will also buy it back at a reasonable price. I see tons of you 'spot guys' haggle about the price over spot for days and then have no place to sell it years down the line and end up taking pennies on the dollar. Apmex.com is a good place to buy online and they buy back too.

I'm dealing with large institutional buyers now and large IRA's but years ago, I would take calls from people and if they demanded, "What is your markup over spot?" I would just hang up. No use trying to educate them and even if you did, the trades were for small amounts and not worth it.

I hope you're not dealing with a lot of coins, using those as a price guide.

But on the other hand, if some dolt does check those prices, the only thing most of them will see is the price on a MS-68 proof coin, ya know? wink

The average schmuck on the street doesn't know how to read them properly, or even remotely understand condition factors.

Also, yeah on the spot. No storefront dealers I've ever known have sold at spot or less, no matter what.

Jun 15 13 08:33 am  Link  Quote 
Photographer
Salater Photography
Posts: 7
Los Angeles, California, US


I do deal with a lot of coins, last month I sold over 450K in coins and it was a slow month. The market is level right now, not much action. The company I work for moves over 2 million in gold and silver coins a day. We have extensive training of at least three hours a week and I've been in this business for about 25 years. Heck, go back 40 years I was buying Morgans with my paper route money. My two bosses who I talk with every day help write the coin red book every year.

I think I'm more than qualified to handle any gold or silver coin investing questions on here and speak with authority.  I'm not trying to argue here.

I've noticed that when it comes to gold and silver, people develop strange ideas and rumors abound. It's all really very simple and values of coins can be easily determined on the internet.

The real trick is using it wisely to pay the least taxes and have the least reporting but also get an asset that you can easily liquidate. Keep in mind that a shoebox of gold or silver is useless if you have no market to sell it to.

I agree with the original poster, the pawn shop is marking it up too much. But that is common for pawn shops and small coin shops. Some are outright rip offs. I had one client call me asking if he should take $50 for a one ounce gold American Eagle bullion coin. Are you kidding me? He told me that the pawn shop guy showed him that it says $50 on the face of the coin so that is what it was worth. Over the years, I've heard it all.
Jun 15 13 10:20 pm  Link  Quote 
Photographer
Select Models
Posts: 35,288
Upland, California, US


Do pawn shops think their customers are idiots?

Of course they do.  No one knows the effective values of merchandise more than the well informed and knowledgable pawn shop owner.  They thrive on ignorant idiots and despise anyone with a thread of resale intelligence.  They make bankrolls from said idiots and welcome them with open arms while insulting the educated shopper... wink
Jun 15 13 10:38 pm  Link  Quote 
Photographer
ELiffmann
Posts: 1,388
Baton Rouge, Louisiana, US


rp_photo wrote:

It's a business much like payday loans or rent-to-own in that it's geared towards fleecing the desperate.

right... It's my understanding that those coins are there for decoration for the most part.  Pawns make the majority of their money on high interest loans with merchandise as collateral.  The stuff you see in the shops are probably mostly things that were left when the loan went into default.

Jun 15 13 10:39 pm  Link  Quote 
Photographer
Jirrupin
Posts: 1,742
Canberra, Australian Capital Territory, Australia


John Jebbia wrote:
If a 100% gain on a single item isn't enough to keep a business afloat, even with overhead.. it's not a very sound business.

not true at all. With the exception of grocery stores and wal mart,  To cover overheads and (heaven forbid) make some money most retail needs to get at least three times the original cost of good, plus tax.

The real cost to the pawn shop is not just the money they put across the desk, its possibly half an hour spent haggling with the junkie that brought them in, more time getting rid of lowball bargain hunters that think the staff are idiots, and a bit more time dealing with people who are just insulted it cost more than they could find them online for, then more time pulling them out so someone can have a close look and work out if he wants to go home and buy it online. Then all the rest of normal overheads such as rent, insurance, security, utilities, etc etc etc

and to answer the original question, Yes, and they're quite right. In fact you generally don't go into retail until you realize that about 70-85% of the population are.

Jun 15 13 11:57 pm  Link  Quote 
guide forum
Photographer
studio36uk
Posts: 21,516
Tavai, Sigave, Wallis and Futuna


ELiffmann wrote:
right... It's my understanding that those coins are there for decoration for the most part.  Pawns make the majority of their money on high interest loans with merchandise as collateral.  The stuff you see in the shops are probably mostly things that were left when the loan went into default.

... up someone's nose.

There fixed that for you.

Studio36

Jun 16 13 01:29 am  Link  Quote 
Photographer
SKPhoto
Posts: 25,779
Newark, California, US


I like browsing pawn shops, but not so much anymore.
Used to go looking for computer equipment.
Last time in one I saw a laptop being sold AS IS, no idea if it even turns on (and they wouldn't plug it in to see), and they wanted more for it than I could order it online for new.

PASS.
Jun 16 13 09:18 am  Link  Quote 
Photographer
Click Hamilton
Posts: 34,132
San Diego, California, US


John Jebbia wrote:
Question:
If you were the decision maker, would you rather double your money with a quick sale (assuming they really were put out just that day), or would you rather sit on them and wait for the price to come back up.. which even at it's peak didn't come close to $100 for the lot.

It's their business, and their job to stay in business. It's their job to know the market.

If you haven't noticed, there's been a buying frenzy going on for quite some time, for old gold and silver.

The value of the silver does not matter to the pawn shop selling them. What matters is if the guy who walks in behind you will pay their asking price.

---

Some other thoughts:

Doubling one's money on quarters is not much of a markup. I have a box full of copper pennies that are worth three times their face value in copper. So what? they are pennies.

At or near the price of silver, they shop owner may like to keep them as much as you would like to have them yourself. Holding value in gold and silver is not a bad hedge against the massive corruption of the purchasing power of the USD that's going on. It's also transportable and easily transferred for the real value it holds, not to mention the privacy that goes with it.

The price of silver is volatile. It's $22 per ounce today. It was $36 per ounce not too many weeks ago. When the Hunt Bros tried to corner the market, they drove the price up from $11 per oz to $50 per oz, and that was over 30 years ago. In today's market, "junk silver" is a sellers market because of the number of pie-eyed buyers who are trying to find their fortunes. There are also lots of industrial users of silver who are trying to stabilize their cost of inventory.

Pawn Shop sellers are hagglers trying to grub a buck. Look for your "junk silver" at cheaper prices elsewhere. Don't waste your time trying to liberate their silver from them.

On other kinds of buying, selling, holding you can 3x, 5x, 10x and more on your money, with sometimes very rapid turnover. Beware of the mob psychology of "gold fever" even as it applies to silver.

Jun 16 13 10:29 am  Link  Quote 
Photographer
Click Hamilton
Posts: 34,132
San Diego, California, US


KonstantKarma wrote:
It's called "pawn" for a reason.

Haha.

That was cute.

Jun 16 13 10:34 am  Link  Quote 
Photographer
udor
Posts: 21,686
New York, New York, US


John Jebbia wrote:

P.S. I would think that even an idiot who'd be interested in buying these coins knows their asking price is way way out of line!

I don't know... I would be such an idiot I guess... because I don't know how to properly assess the value of those coins, and I would know that a commercial entity like THAT would have a huge markup... and would probably pay it.

I ordered once wedding bands (platinum/gold) with stylish pattern... paid for both rings about $12,000... after the marriage was over, I tried to sell my ring, hoping I'd be able to clear a few grand... but... fcukno... less than a hundred... the rest is all markup...

Jun 16 13 10:34 am  Link  Quote 
Model
Bunny Bombshell
Posts: 11,752
Huntington, West Virginia, US


I'd say the vast majority of them expect people to not be aware of how much things are really worth, so probably most but not all. There's one in the area that's actually really fair. I've had nothing but good dealings with them. They're also the most popular, and the biggest, so that might have something to do with their success
Jun 16 13 10:46 am  Link  Quote 
Photographer
Click Hamilton
Posts: 34,132
San Diego, California, US


Welcome to our humble abode

http://7search.com/images/blog/pawn.jpg



There is always a line of people waiting to get into this place.

http://farm3.static.flickr.com/2433/5749261871_9358da6dab.jpg
Jun 16 13 11:12 am  Link  Quote 
Model
Danielle Reid
Posts: 3,764
Philadelphia, Pennsylvania, US


I swear that bald guy works at every pawn shop ever created.
Jun 16 13 11:40 am  Link  Quote 
Model
Danielle Reid
Posts: 3,764
Philadelphia, Pennsylvania, US


udor wrote:

I don't know... I would be such an idiot I guess... because I don't know how to properly assess the value of those coins, and I would know that a commercial entity like THAT would have a huge markup... and would probably pay it.

I ordered once wedding bands (platinum/gold) with stylish pattern... paid for both rings about $12,000... after the marriage was over, I tried to sell my ring, hoping I'd be able to clear a few grand... but... fcukno... less than a hundred... the rest is all markup...

Everything is markup. If there was no markup there'd be no profit

Jun 16 13 11:42 am  Link  Quote 
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