Pawn Stars (Vegas) Talks About Gold/Silver

[J.A. Collection]

http://finance.yahoo.com/blogs/breakout/secrets-pawn-star-132957563.html

[noow]

[jtryka]

The pawn guy is very cool, but that bald host is just a person_who_is_obnoxiously_self-impressed.

[JStull]

The show is staged.

 

In order to get ratings, the producers put out a call for people with rare items, high value collectibles, etc. in order for the show to be interesting.

 

Most pawn shops, and I've worked in the pawn industry, do not get that kind of high end stuff coming in their door.

 

It's mostly items people who are in need, whether desperate or not, for quick cash.

 

Not many pawn shops take firearms of any kind. They don't deal in modern firearms because the expense of obtaining and maintaining an FFL is not justified by any potential revenues of firearm purchases and re-sales. Also, there is no database available to pawn shops to run the serial numbers of the firearms to see if they are A.) stolen, or B.) been used in a crime. Firearms dealing in pawn shops is too much of a risk to the shop as they are required by law to send an inventory to the local law enforcement agency of everything to take in on pawn or purchase. Anything on that list that comes back as stolen or used in a crime, the police come to the shop and confiscate it, i.e. the pawn shop is out the money they loaned or purchased the item with.

 

Thank god for Google too as these guys wouldn't have the knowledge they seem to possess without it.

[BillJones]

Not many pawn shops take firearms of any kind. They don't deal in modern firearms because the expense of obtaining and maintaining an FFL is not justified by any potential revenues of firearm purchases and re-sales.

 

The Pawn Shop show guys have stated a number of times that they only buy antique guns that don't require the federal license. I forget how old the gun has to be, but something like 1875 or some date like that.

 

As for staged, sure you are correct. They have to produce a show that is entertaining.so yea, it's staged.

[JStull]

Not many pawn shops take firearms of any kind. They don't deal in modern firearms because the expense of obtaining and maintaining an FFL is not justified by any potential revenues of firearm purchases and re-sales.

 

The Pawn Shop show guys have stated a number of times that they only buy antique guns that don't require the federal license. I forget how old the gun has to be, but something like 1875 or some date like that.

 

As for staged, sure you are correct. They have to produce a show that is entertaining.so yea, it's staged.

It falls under the Gun Control Act of 1968 and anything manufactured during or before 1898, regardless of ignition system; i.e. flintlock, percussion cap, or matchlock, is exempt from an FFL.

[Conder101]

Of course it is staged, at least somewhat. They have to show a new episode every week and people aren't going to tune in every week to see him haggling over the typical stuff that walks into a pawn shop. Sure some really great things may walk in the door, but not very often. And you aren't going to film every person who walks in just in case what they have is interesting. So they stage some things and I'm sure that they do have some interesting things just walk in and if they want to film that transaction they have them come in again and do the whole thing over.

[DWLange]

Most of the good items have to be staged transactions, as there is no logic to bringing high-end items to a pawn shop. I love it when someone says that they bought an item five years ago at a major auction, and now that it's time to sell they naturally bring it not to the same auction house but to a local pawn shop!

[Mr.Mcknowitall]

If someone brings high-end items to a high-end pawn shop, is it logic (and, of course, assuming the definition of a high-end and low-end is established)?

 

Is a pawn shop transaction, low-end or high-end, substantially different than a transaction at a coin show?

 

Respectfully,

john Curlis

[thebeav]

The show is staged.

 

Sure.........

 

Next thread someone is going to try and tell me that championship wrestling is fake !

 

Paul

[Coindude]

The show is staged.

Sure.........

Next thread someone is going to try and tell me that championship wrestling is fake !

Paul

Ummmm, Beav / Paul...... pro wrestling is fake.... sorry bro!

[BillJones]

Is a pawn shop transaction, low-end or high-end, substantially different than a transaction at a coin show?

 

 

There is no comparison between a transaction at 99% of pawn shops and at a coin show. Legitimate coin dealers will pay better prices for nice material because they are selling in a specialized market to collectors where they will get better prices.

 

When I was a dealer I’d pay 70 to 80 percent of my selling price to the public if the item was nice and the market for it was liquid. I’d buy raw coins and get them slabbed and pay close to that it was a key date.

 

A lot of pawn brokers are not coin experts. They pay a smaller percentage and frankly most of them would not know a really good coin if it bit them on the ankle. That’s why I always got hostile reactions when I asked to see what they had when I was dealing coins in Massachusetts. They figured I was out to pick them off.

 

[JStull]

If someone brings high-end items to a high-end pawn shop, is it logic (and, of course, assuming the definition of a high-end and low-end is established)?

 

Is a pawn shop transaction, low-end or high-end, substantially different than a transaction at a coin show?

 

Respectfully,

john Curlis

 

You will get an offer of 35%-40% of actual value.

 

For instance, you have a coin you want to sell that has a value of $500. You take it to a pawn shop, their first offer would be around $150-$175. They would turn around put a price tag of $650-$675 on the item, and would probably take a little over $500 for it.

[Mr.Mcknowitall]

 

Then it is possible that it is not substantiallly different from a coin show transaction, especially if we eliminate the word "legitimate" and add the words "not numismatically aware buyer and/or seller".

 

It also appears the range of markups/downs percentages are similar.

 

With a"WINK":

 

Respectfully,

John Curlis

[Mokiechan]

There was one episode where the old man mistakingly marked a Morgan CC dollar with a price for a common date Morgan. Of course Rick and Minnesota Fats (his Grandson) got all over The Old Man and even arranged for an eye checkup.

 

As I recall, Rick expounded on Morgans and proved once again that He and his Crew know very little about numismatics and probably rely ona 1999 Red Book for their pricing information.

 

the Old Man rattled off some mints that produced Morgans but omitted a couple.

[JStull]

Then it is possible that it is not substantiallly different from a coin show transaction, especially if we eliminate the word "legitimate" and add the words "not numismatically aware buyer and/or seller".

 

It also appears the range of markups/downs percentages are similar.

 

With a"WINK":

 

Respectfully,

John Curlis

I've never seen offers that low at any coin show I've been to. Most offers I notice are maybe $50-$100 under FMV, but not as low as a pawn shop offer.