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.