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Buying Silver Coins from a Pawnshop

19 comments

silversaver888
70
5 months ago2 min read

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)."
Like this $1 face Franklin Half from an online dealer:

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!

The actual price I paid for these coins were competitive, and I did not have to buy $99.00 worth of silver plus there was no wait time for shipping.

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

Hugs and Kisses 🤗💕💋!!!

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