Gary
Member
I frequent many pawn shops in my search for used guitars. Last week I was at the counter in a pawn shop where an old lady came in with about $3,500.00 worth of gold - the clerk weighed it and the total weight translated to about 60 grams of pure gold and about half of that was a US double eagle coin (1 oz. gold) that was easily worth $2,000.00 alone.
The lady said what will you give me and the clerk said $20.00. She then said that's a $20 gold piece right there. So the clerk said, well then tell me what you want. She quickly said $75.00. Without blinking an eye, the clerk said I can do a little better - how about $200.00, and she immediately said "I'll take it".
I almost threw up; I had to turn and walk out. This guy had just stolen over $3,000.00 from an old lady obviously in need of money.
The usual practice is to offer 75 - 80% of bullion price and then the buyer sells at about 90% of bullion. Coins in very good or better condition are often sold at 10% over bullion or more.
I won't do business there again - ever.
The lady said what will you give me and the clerk said $20.00. She then said that's a $20 gold piece right there. So the clerk said, well then tell me what you want. She quickly said $75.00. Without blinking an eye, the clerk said I can do a little better - how about $200.00, and she immediately said "I'll take it".
I almost threw up; I had to turn and walk out. This guy had just stolen over $3,000.00 from an old lady obviously in need of money.
The usual practice is to offer 75 - 80% of bullion price and then the buyer sells at about 90% of bullion. Coins in very good or better condition are often sold at 10% over bullion or more.
I won't do business there again - ever.
