A better route could be to take silver *from* the pawn shop... as long as the deal is good. I'd also be interested in knowing if the pawn shop checks incoming silver for authenticity and how they do it.
@@edb3877 I'm very wary of purchasing pm's from a Pawn shop a friend of mine purchased an ASE from a Pawn shop a few years ago and it turned out to be a silver plated counterfeit
The first pawn shop is betting that you won't be paying to get it out of pawn. Their price was terrible. People that pawn items are either poor, desparate, have no credit, etc. I would guess that 80% don't pay the interest to get their items back. Thing was.. they were so nice on the phone that most people would think they are a good place to go. But they play the odds on you NOT paying to get it back. If you need to pawn silver for any reeason. Get the most that you can. I doubt that you will hit the lottery in 60 or 90 days so you can go and get your silver back.
@@smokey3211000 alot of generalizations and speculation there. I'm not talking about anything that you mentioned, and as I mentioned, $17 is a terrible price, yes, I understand that, but that doesn't change the fact that I've love to speak with or interview this guy. He seems very well spoken and speaking from the heart instead of giving you a generic pre written statement. I'd like to pick his brain was all I was getting at...
Added to all that being said, Pawn shops will end up as the new banks. As the failing ones now and more upcoming will lead the debt slave sheeple of what little assets they have and the rich who hold precious metals will not need pawn shops or what banks are left.
This is market manipulation to get people to keep buying over priced US minted coins at absurd prices. Not only are the mines producing record amounts of silver but now silver is being salvaged with gold from electronics. That might be just a tiny fraction to fill in the demand but it's not a negative drain on the supply. If it was truly that close to being in a bull market people (stackers) would pay more then what they do. Silver is just cheap so it's easy to pick it up hear and there but gold has always been more profitable if you're attempting to use it for trading like a stock investment. You can make hundreds overnight on an ounce of gold (or lose) where you might make a couple bucks on silver. The problem is most people trying to make a few bucks on silver can't throw down thousands for a couple ounces of gold then sit on it until you catch it on a rise.If America fixes this tax problem of not taxing the rich and our dollar strengthens then there goes every stackers dream of cashing in because a strong dollar isn't good for precious metals.
@@PaulO-ew3hd as long as big daddy government is around to bail them out the big banks will not fail. It's actually the opposite, you can start to see a monopoly on the sector by the major players in banking
I've never tried to sell any metals to a pawn shop, that said those results don't shock me too much. The home run in this video was the first pawn shop owner. It's not often that you find someone who's willing to buy and tells you not to sell. Thank you!
Yup, a tale as old as time! Recently went to a pawn shop out of curiosity and they were selling cull silver dollars for $45-50 and cull junk silver for about 27XFV
SD has Britannia on sale for 3.99 over spot on sale right now any quantity. Still crazy premiums but better price than generic rounds on any site I follow. Just a heads up.
Most of the times that I've seen silver at a pawn shop they're selling right at spot because they can't explain to someone that's not there for it, why they'd pay more at their store than what the ticker tells them it's worth, they also tend to not want to hold on to things tied to the stock market. Unless you're buying commercial equipment, 20-25% (to 1000%+) markup on any other product is normal.
@@mattyrock2467 I wouldn't give you more then $25.50 for your eagle but then again I stack silver, I don't collect coins. $32.00? 😂😂😂 The best part is when silver actually clears $40 spot, no one pays a premium on anything. Those selling generics for spot or even a few dollars below are going to turning a nice profit while the guys currently paying $40 are going to be breaking even or holding hoping it cleats the premiums so they can break even.
OMG. Beginner stackers better watch this channel. I've been stacking since 2012 and I have learned a lot from this channel. . Thank you, Silver Seeker.
The other message is about crack fiends, now let's talk about Tweakers, they steal your lawn equipment, mowers, chain saws, edgers, hoses, drills, power saws, bags of mulch ( unopened Walmart gift card) power washer and power washer accessories, oh and don't forget they all steal this, crack heads, tweakers, heroine fiends will Heroine fiends will pretty much steal anything as well but they all like to go abandoned homes, schools, warehouses, businesses, hotels they love that shiny copper scrap of any kind that's the addicts go to when they've hit rock bottom and now where to go, move into the abandoned hotel perfect place for them to steal enough copper until they get money for a real hotel for the night
I dont give price over the phone i dont own a coinshop but i do own a company doing service work, whenever they call to ask for a price i would think to myself if you have to ask i dont think you can afford my price.
@@sdfv4zx wrong. You call to ask the price because they want to charge under spot when your selling or way over spot when your buying and it’s stupid. It has nothing to do with “affording” it has to do with not getting robbed because someone is thinking they can take advantage of you. I’m not going to a shop to haggle. I know what should be given when I’m selling and I know what I should be paying when buying. Period.
Love the video, you’re telling everyone my secrets. I live in the San Francisco Bay area and hit 8 to 10 pawnshops a week. They always want you in person very reluctant to give information over the phone. As you saw.
That first pawn shop restored a little bit of my faith in them. He was super honest! The last two were honest in the pricing. The second one seemed a bit shady. Thanks for the great content
Definitely, you should go and see what they have. Although lately I haven’t had success. In the past I have had some pawn shop scores with junk silver, silver eagles and bars.
Every time I go into a pawn shop, if they have anything, it is extremely overpriced. Like walkers at $20 each, quarters at $9 each.…although I did buy a 1oz gold eagle for spot +$75 right before the jump in prices. And yes, the coin was tested multiple ways before I bought it 😂. Also did get 2 peace dollars for $20 each at another shop when the clerk confused the price of half dollars with dollar coins.
Love your videos they mean they world to me, this video had me cracking up, but I’ve been there when I was younger and these pawn shops they def take advantage of anyone they can, they don’t mind pawning bc the majority of people don’t even come back to pick the pawn up, that first guy was genuinely honest I liked him even though didn’t like the price
Good evening SS! Hope you're well got good deals almost pawn shops went they're good owners fair and excellent condition gold and silver been buy three years straight no complaints very happy with purchase and low premiums. Thank you for awesome information on precious metals! GOD bless you! Amen.
I've never dealt with a pawn shop, but I have heard they are required to hold stuff after purchase. Of course it would vary by state/location. So in that case you can see why they would have to be a lot lower than someone who can flip for an immediate profit. If they have to wait 30 or 60 days it might be a completely different market by then. So there is significant risk -- especially when prices are high. Cheers!
They're only required to hold your stuff if you are actually pawning it (which is actually getting a loan against the collateral). But pawn shops can outright BUY from customers, no loan involved, and for that they do not have to hold the items.
@@OhJodi69 It depends on the state. Even coin shops in some states have a hold period. Pawn or buy, doesn't matter. The cops may be looking for stolen stuff so that is why they do it.
I've purchased half dollars and rounds from my pawn shop over the last year and a half; ALWAYS several dollars per ounce lower than my LCS's. But when I went in the other day they had nothing. (Another pawn shop across town only sells silver through their ebay store.)
A few years ago when prices and premiums were lower I had some luck at a pawn shop, managed to get a bunch of Libertads, Kangaroos and 1oz Englehard bars, only paid a few bucks over spot, it was only Eagles that they were charging more of a premium for, I have gone back a few times since and bought an ounce or two but nothing like that particular day
That one pawn shop lied there is t one pawn shop that sells silver for melt. It's close to spot or a bit more. On rounds. On 40% silver Kennedy's they sell them for like 9$.
That first guy was VERY honest!! I liked that! You dont find that very often especially at a pawn shop! I sure wont be selling any of my silver! Its all staying in my safe.
Pawn shops in the northeast have all been well below spot on rounds and bars. I think they buy for much less because of the pawn factor. Not selling to them but pawning. Coin shops you’re buying or selling for whatever spot is plus whatever premiums they use. Usually less for generic and more for ASE. I wouldn’t sell to a pawn shop but I might buy!
I called Pawn Stars pawn shop in Las Vegas to ask what they would pay for specific silver and gold a couple years ago, they told me to come down there and wouldn't give me a price over the phone.
I got a great deal on 2 oz rounds for spot from a gun oriented pawn shop one time. most times they are selling for 10-12% over coin shops or online brokers
I went to an antique store where I bought silver before. There was a guy's counter where he was selling silver coins/ bars. When I asked how much for the 1oz bar, his comment was $46.00 each... My eyeballs almost fell out of my face. He's going to have those for a while... Great information SS.
I've gotten some pretty fair deals on coins at pawn shops. Both for commons and for key dates. Also I've yet to see a pawn shop here in California that doesn't have all kinds of silver and gold coins for sale. Usually some eye catchers under the glass with much more in the safe. Another thing I know is that anyone working at a pawn shop is well aware of spot prices and usually knows more about the history and current value of any given coin than the customer. Finally selling anything to a pawn shop is for one thing only... Emergencies. When you need right now money. Love your channel and content. Ty. 👍
I was at flea market this past weekend. Usually they are severely overpriced, but I found a vendor selling his common Washington silver quarters for $5.50@, so you were right. Check it out if it's close at hand. You never know.
I bought silver one time from a local pawn shop. I paid $5-$10 over spot. A pawn shop is a business. They are there to make money. Some of them may not be interested in silver or they don't know about what is going on with silver right now. About the one pawn shop owner that said they keep the silver for themselves, they know what's up with silver right now. They are a stacker/collector for sure.
Here's a suggestion (take it or leave it): Look at online bullion dealers and see if their prices are more responsive (quicker to go up) when prices go up versus when prices go down. And also,....discuss what 'spot' price LCS and online dealers 'should' be using. Which spot price is 'correct'? Which ones / spot prices (there's several different places to check spot price correct?) are less favorable to people interested in buying, in selling?
for me, pawn shops are not even on my list for places to purchase silver... top locations for me; Coin Shops, Bullion Exchanges, Collectable's & Sports memorabilia, cash for and/or we-buy gold/silver locations. I have been getting best deals on constitutional silver at gold buyer locations - For the last 4 months I have been buying $10 rolls or two $5 rolls of pre-1964 quarters and dimes for $200 - Half dollars they have been selling for $240...seems coin shops and bullion dealers close to me have been selling from 24 to 28x face for quarters! The limited times I have walked into a pawn shop, I usually see random household items/electronics. maybe I have been missing out and should start going into pawn shops more often?
I know two guys that own pawn shops and they are more into gold. They freely tell me that they basically steal it and they never sell it. Pretty sure they usually only deal with uninformed desperate people.
the other week I gotta 1987 silver eagle for $30 from a pawn shop. It wasn't mint or anything. I think some pawn shops are really good for buying silver, because if they are buying it for 20 dollars an oz. then you offer them 27 an oz. for 5 oz. they will take that all day. They just made $35. But it's rare for them to have silver because when they get it they just sell to the coin shop. But always ask if they have silver that they are holding for the 30 day law.
Pawn America has always had silver in every store I've ever been in for a decent price. ASE and pandas are selling for $35. They also sell alot of gold coins.
I've gone into 3 different pawn shops and none of them wanted to sell me silver or gold coins or bars because they have guys that they sell to for years that come in every day one pawn shop owner told me straight out , even if I had some silver or gold bars or coins I wouldn't sell them to you because I have my regular buyer that I save them for
Pawn shops have people they sell it to, or they will sell it to a smelter. The only pawn shops that are halfway reasonable are ones that sell the silver as well. Even they are way below a coin shop there used to people looking to get rid of it for whatever they can.
Some people do sell to pawn shops for that price; and there are many cities/towns that don't have coins. I picked up 1 oz rounds for 30 each at my pawn, and they are selling constitutional for 21x face. Just started stacking, I'd love to make it to 10k ounces; in the first month I've purchased 34 ounces of silver. I'm probably getting 50-100 oz next month or grabbing a bunch of constitutional silver. I've decided to buy every single month, $500-$1000 per month. I'm hoping to have close to 1k ounces after a year, but I may need silver price to drop to achieve it. I can spare about $1k max per month. If I was rich, I'd honestly just buy futures contracts for delivery. You'd get better prices.
I have never been in a pawn shop my entire life and I think they prey on the poor and desperate. If I want to lose money I would always prefer to deal with a LCS since that is what the specialize in.
I am an employe at a pawn shop, we pay about 85% of spot, and never have anything on the shelf cause i personally buy almost all of it even when my boss charges me a premium. So take that for what its worth.
I go to several pawn shops in Houston area. One of them actually has a good supply. It all comes from Apmex I think, plus any junk silver he gets in. He would give me spot on silver, a little more than that on gold. I did go to a "larger" gold, silver, jewelry type shop, they advertise as best around. They offered 21 and change for silver. Their ASEs were close to $50 !! Crazy times. I'm slowing down and concentrating on 1/2 & 1 oz gold when I can afford it.
Yep! My local pawn shop will buy it, but they laugh at the idea of selling it - they say it only flows one way in their shop: INTO the safe! Who can blame them?
I am surprised that most stackers will have a hard time selling when their time to sell comes. Seems LCS give sellers low ball offers (below spot) then go and sell the same to a buyer at a premium over spot. Where else can sellers sell their stack at a fair price, without the possibity of getting robbed by selling/meeting buyers on the street?
Bottom line in a total currency collapse, will silver be tradable? Like a currency. Will it actually hold value like gold? Can anyone offer historical proof?
Speaking of industrial use, I remember in the 90s being told not to buy silver because it was no longer required in photography so it would be pretty much worthless. Had an opportunity to buy hundreds of 1976 Olympic silver coins for a couple dollars each at a garage sale, didn't because I believed what I was told. Certainly regret it now.
I pay in the Netherlands 28.50 euro for a maple leaf or kangaroo or philamoniker, and when I sell to the shop they pay me 26.18 euro, so only 2.30 less. But in Europe we have in many countries 21% vat included. Euro/USD is 1.10
I've only been in the Pawn Stars shop in Vegas. They were selling 2 scruffy looking Benji's in a net bag with the shop logo for a ridiculous amount. The Sales person told the old lady next to me that there was a full oz of silver in 2 bags. Left a bad taste in my mouth!
They don't want the risk of sitting on it. They buy it for way below spot and sell it to a refiner 80%-90% of spot for a small profit. They move it as quick as possible to avoid a drop in spot while they are holding it.
I've been speaking to a lot of pawn shop owners they buy the silver from the people and keep it for themselves they do not sell it if they do sell it they sell it for $40 over spot
Geez... such low-ball offers from Pawn Shops. They could probably do more business on a volume-basis if they would only play ball a little more fairly. Thank you for the video!
Shop 1 did not mention what percentage of spot on the loan. No mention of fees, or interest rate on it either. If he is offering 17 to buy. That would be 68% of spot collateralize by the silver. He admits the upside potential, but factors in a 32% decline in the short term. You call him looking to sell silver, and end up talking to someone trying to sell you a loan.
He told me specifically that he wouldn't sell and said if I was really hard up for the money to pawn instead of sell. I have to disagree here I think he was quite genuine.
Well of course he is going to offer a loan because that is how they make their money, you don’t honestly think they make money from buying and selling stuff?
@@Artessnow They make most of their money by reselling things that are pawned and then not picked up actually. But that doesn't change that he was genuine and tried to talk me out of selling my silver in the first place.
The three pawn shops in my city all keep the silver and gold for themselves. The main guy I know fairly well said that he has been buying his gold and silver at a loss for the business. So basically he’s getting silver for even less than he pays, which is lower than spot. But he said the last 3 years virtually no one has brought in any precious metals, some necklaces and rings but not a lot.
Dear SS, I agree your experience is awful for this day. I go to a pawn shop to buy and get good buys. They sell quickly I think becasue of their prices. Tomorrow will get 90% GW quarters at $22 FV. Not long ago it was between 18-20FV. I bout an Engelhard 10 oz $310 last week. The pawn owner has sold me some stuff from her personal stack but will not for others. They bought me a birthday cake. Held items for me while I am out of town or waiting for a check. I get good buys there. But if they sell less than others, then I believe they buy less than others. Ergo, I don't plan to sell there unless I need cash VERY FAST. I know 1 guy who buys there and then sells to APMEX for a profit. See my point?
Moral of the story, Never Take Your Silver To A Pawn Shop 🧐
A better route could be to take silver *from* the pawn shop... as long as the deal is good. I'd also be
interested in knowing if the pawn shop checks incoming silver for authenticity and how they do it.
@@edb3877 I'm very wary of purchasing pm's from a Pawn shop a friend of mine purchased an ASE from a Pawn shop a few years ago and it turned out to be a silver plated counterfeit
yep. rip off city.
@@mattyrock2467 👍👍
@@jdg_5175 buyer beware 🙈
That first coin shop store was speaking from the heart. He sounded like he was genuine. At $17 is crazy, but he sounded like a cool guy
The first pawn shop is betting that you won't be paying to get it out of pawn. Their price was terrible. People that pawn items are either poor, desparate, have no credit, etc. I would guess that 80% don't pay the interest to get their items back. Thing was.. they were so nice on the phone that most people would think they are a good place to go. But they play the odds on you NOT paying to get it back. If you need to pawn silver for any reeason. Get the most that you can. I doubt that you will hit the lottery in 60 or 90 days so you can go and get your silver back.
@@smokey3211000 alot of generalizations and speculation there. I'm not talking about anything that you mentioned, and as I mentioned, $17 is a terrible price, yes, I understand that, but that doesn't change the fact that I've love to speak with or interview this guy. He seems very well spoken and speaking from the heart instead of giving you a generic pre written statement. I'd like to pick his brain was all I was getting at...
Added to all that being said, Pawn shops will end up as the new banks. As the failing ones now and more upcoming will lead the debt slave sheeple of what little assets they have and the rich who hold precious metals will not need pawn shops or what banks are left.
This is market manipulation to get people to keep buying over priced US minted coins at absurd prices. Not only are the mines producing record amounts of silver but now silver is being salvaged with gold from electronics. That might be just a tiny fraction to fill in the demand but it's not a negative drain on the supply. If it was truly that close to being in a bull market people (stackers) would pay more then what they do. Silver is just cheap so it's easy to pick it up hear and there but gold has always been more profitable if you're attempting to use it for trading like a stock investment. You can make hundreds overnight on an ounce of gold (or lose) where you might make a couple bucks on silver. The problem is most people trying to make a few bucks on silver can't throw down thousands for a couple ounces of gold then sit on it until you catch it on a rise.If America fixes this tax problem of not taxing the rich and our dollar strengthens then there goes every stackers dream of cashing in because a strong dollar isn't good for precious metals.
@@PaulO-ew3hd as long as big daddy government is around to bail them out the big banks will not fail. It's actually the opposite, you can start to see a monopoly on the sector by the major players in banking
that pawnshop owner was out right awesome, didn't tell you to sell, told you to pawn, told you his plan.
Pan shops like to sit on silver until it turns serious profits. They have it, but they don't have it for sale.
That pawn shop owner is a snake. He's out right awesome for low balling offer on silver. Stupid idiots!
What a honest guy
I've never tried to sell any metals to a pawn shop, that said those results don't shock me too much. The home run in this video was the first pawn shop owner. It's not often that you find someone who's willing to buy and tells you not to sell. Thank you!
Yup, a tale as old as time! Recently went to a pawn shop out of curiosity and they were selling cull silver dollars for $45-50 and cull junk silver for about 27XFV
SD has Britannia on sale for 3.99 over spot on sale right now any quantity. Still crazy premiums but better price than generic rounds on any site I follow. Just a heads up.
Even 20 is a joke. If they're all out, then it means they know it will sell quickly well above spot, so there's no reason not to pay almost spot.
Most of the times that I've seen silver at a pawn shop they're selling right at spot because they can't explain to someone that's not there for it, why they'd pay more at their store than what the ticker tells them it's worth, they also tend to not want to hold on to things tied to the stock market. Unless you're buying commercial equipment, 20-25% (to 1000%+) markup on any other product is normal.
American eagles are selling at $45 plus per ounce just about everywhere. no way you gonna low ball me for anything less than $32 an ounce.
@@mattyrock2467 Well they have to get them framed.
@@mattyrock2467 I wouldn't give you more then $25.50 for your eagle but then again I stack silver, I don't collect coins. $32.00? 😂😂😂 The best part is when silver actually clears $40 spot, no one pays a premium on anything. Those selling generics for spot or even a few dollars below are going to turning a nice profit while the guys currently paying $40 are going to be breaking even or holding hoping it cleats the premiums so they can break even.
@@PHUCKyoutube689 i can get up to $32 here in NYC at our diamond district. so why would I sell it to you?
Pawn shops are crooked as a corkscrew! It it like going to a criminal to be treated fairly. You might get silver coins that are counterfeit.
OMG. Beginner stackers better watch this channel. I've been stacking since 2012 and I have learned a lot from this channel. . Thank you, Silver Seeker.
I've found some killer deals at PawnShops because the workers were clueless on junk silver and mint sets.
Why dont they pay more ? In Norway they pay spot for 1 oz silver Mapeles etc.
Come to Idaho pawn shops has tons silver,
the shop i was in yesterday has amazing deals
I’ve never been in a pawn shop and from everything I’ve seen and heard I think I’ll stay away! Great video…🤠
The other message is about crack fiends, now let's talk about Tweakers, they steal your lawn equipment, mowers, chain saws, edgers, hoses, drills, power saws, bags of mulch ( unopened Walmart gift card) power washer and power washer accessories, oh and don't forget they all steal this, crack heads, tweakers, heroine fiends will Heroine fiends will pretty much steal anything as well but they all like to go abandoned homes, schools, warehouses, businesses, hotels they love that shiny copper scrap of any kind that's the addicts go to when they've hit rock bottom and now where to go, move into the abandoned hotel perfect place for them to steal enough copper until they get money for a real hotel for the night
The lowest you should sell silver or gold is SPOT...PERIOD...dont get robbed
Awesome video! Great real world information. Sharing this video with family, friends and neighbors.
Yea that pawn shop guy is definitely a stacker. He had some truth behind his words.
If they don’t give a price over the phone then I don’t go to their shop. Period.
I dont give price over the phone i dont own a coinshop but i do own a company doing service work, whenever they call to ask for a price i would think to myself if you have to ask i dont think you can afford my price.
@@sdfv4zx wrong. You call to ask the price because they want to charge under spot when your selling or way over spot when your buying and it’s stupid. It has nothing to do with “affording” it has to do with not getting robbed because someone is thinking they can take advantage of you. I’m not going to a shop to haggle. I know what should be given when I’m selling and I know what I should be paying when buying. Period.
Clearly, the first pawn shop is awake. He let you know that you shouldn't be selling. He offered $17 (Q) . Stack now, don't sell.
What did Q anón say about silver
@Good Bexar who is Q anon? There is Q and there are anons. What are you referring to?
Love the video, you’re telling everyone my secrets. I live in the San Francisco Bay area and hit 8 to 10 pawnshops a week. They always want you in person very reluctant to give information over the phone. As you saw.
That first pawn shop restored a little bit of my faith in them. He was super honest! The last two were honest in the pricing. The second one seemed a bit shady. Thanks for the great content
Definitely, you should go and see what they have. Although lately I haven’t had success. In the past I have had some pawn shop scores with junk silver, silver eagles and bars.
Have you tried Gold and Silver Pawn Shop that is on Pawn Stars on the History Channel
Every time I go into a pawn shop, if they have anything, it is extremely overpriced. Like walkers at $20 each, quarters at $9 each.…although I did buy a 1oz gold eagle for spot +$75 right before the jump in prices. And yes, the coin was tested multiple ways before I bought it 😂. Also did get 2 peace dollars for $20 each at another shop when the clerk confused the price of half dollars with dollar coins.
i went to several pawnshops around here(atlanta)and they were at spot+6-8 dollars sell price,my LCS sells to me at spot plus 2.50
That lady was a straight shooter and honest, love it.
I buy a lot from my local pawn shop. Kangaroos and generic rounds for $29.05 otd yesterday
Thank You Sir.
I would work with the first shop. Honesty is great. I would not sell for that price, but would visit the shop.
Love your videos they mean they world to me, this video had me cracking up, but I’ve been there when I was younger and these pawn shops they def take advantage of anyone they can, they don’t mind pawning bc the majority of people don’t even come back to pick the pawn up, that first guy was genuinely honest I liked him even though didn’t like the price
Good evening SS! Hope you're well got good deals almost pawn shops went they're good owners fair and excellent condition gold and silver been buy three years straight no complaints very happy with purchase and low premiums. Thank you for awesome information on precious metals! GOD bless you! Amen.
I've never dealt with a pawn shop, but I have heard they are required to hold stuff after purchase. Of course it would vary by state/location. So in that case you can see why they would have to be a lot lower than someone who can flip for an immediate profit. If they have to wait 30 or 60 days it might be a completely different market by then. So there is significant risk -- especially when prices are high. Cheers!
They're only required to hold your stuff if you are actually pawning it (which is actually getting a loan against the collateral). But pawn shops can outright BUY from customers, no loan involved, and for that they do not have to hold the items.
@@OhJodi69 It depends on the state. Even coin shops in some states have a hold period. Pawn or buy, doesn't matter. The cops may be looking for stolen stuff so that is why they do it.
I've purchased half dollars and rounds from my pawn shop over the last year and a half; ALWAYS several dollars per ounce lower than my LCS's. But when I went in the other day they had nothing. (Another pawn shop across town only sells silver through their ebay store.)
Intresting, I get the best deals on the half dollars at my local pawn shop. Got some ASE's for 3 over spot there.
A few years ago when prices and premiums were lower I had some luck at a pawn shop, managed to get a bunch of Libertads, Kangaroos and 1oz Englehard bars, only paid a few bucks over spot, it was only Eagles that they were charging more of a premium for, I have gone back a few times since and bought an ounce or two but nothing like that particular day
I had great experience at pawn shop. Spot was $22 and they sold all silver for $5 over. I bought all ASE and ‘85 prospectors they had.
Please don’t ever think it is a waste of time. Newbies like myself greatly appreciate your effort. Thank you.
I love the guy whose actually legitimately looking out for your best interest.
That one pawn shop lied there is t one pawn shop that sells silver for melt. It's close to spot or a bit more. On rounds. On 40% silver Kennedy's they sell them for like 9$.
I only have one LCS and on my second visit there he accused me of theft. So i only go to our local pawn shop.
The first guy was 1 in a million.
I went to a coin shop yesterday that said they weren't ordering any silver because they thought no one would pay the premiums.
That first guy was VERY honest!! I liked that! You dont find that very often especially at a pawn shop! I sure wont be selling any of my silver! Its all staying in my safe.
Thank You!!
At a pawn shop near me, I was told they wanted 35 an ounce, and it was generic. Since then I found buffaloes at 3 over.
I would also like to buy ASEs for spot
I've tried as well none had silver nor would they buy.
Pawn shops in the northeast have all been well below spot on rounds and bars. I think they buy for much less because of the pawn factor. Not selling to them but pawning. Coin shops you’re buying or selling for whatever spot is plus whatever premiums they use. Usually less for generic and more for ASE. I wouldn’t sell to a pawn shop but I might buy!
I called Pawn Stars pawn shop in Las Vegas to ask what they would pay for specific silver and gold a couple years ago, they told me to come down there and wouldn't give me a price over the phone.
LOL
the best I can do is a half eaten cheeseburger that Chumlee has over there.
I got a great deal on 2 oz rounds for spot from a gun oriented pawn shop one time. most times they are selling for 10-12% over coin shops or online brokers
These videos are awesome! very fun with good knowledge. SPOT ON.
Nice video. Informative. Real life stuff
I went to an antique store where I bought silver before. There was a guy's counter where he was selling silver coins/ bars. When I asked how much for the 1oz bar, his comment was $46.00 each... My eyeballs almost fell out of my face. He's going to have those for a while... Great information SS.
Some bars are considered collectable and sell for a high premium. Hard to know if he was ripping people off or selling a collectable bar.
I don't know why, but I am really curious about the one with no price on the phone. Great stuff as usual!
I've gotten some pretty fair deals on coins at pawn shops. Both for commons and for key dates. Also I've yet to see a pawn shop here in California that doesn't have all kinds of silver and gold coins for sale. Usually some eye catchers under the glass with much more in the safe. Another thing I know is that anyone working at a pawn shop is well aware of spot prices and usually knows more about the history and current value of any given coin than the customer. Finally selling anything to a pawn shop is for one thing only... Emergencies. When you need right now money. Love your channel and content. Ty. 👍
I've been loading up on fair priced fire arms at my local pawn shop.
I was at flea market this past weekend. Usually they are severely overpriced, but I found a vendor selling his common Washington silver quarters for $5.50@, so you were right. Check it out if it's close at hand. You never know.
I bought silver one time from a local pawn shop. I paid $5-$10 over spot. A pawn shop is a business. They are there to make money. Some of them may not be interested in silver or they don't know about what is going on with silver right now. About the one pawn shop owner that said they keep the silver for themselves, they know what's up with silver right now. They are a stacker/collector for sure.
JDOG, you better call somebody! 😂😂
Here's a suggestion (take it or leave it): Look at online bullion dealers and see if their prices are more responsive (quicker to go up) when prices go up versus when prices go down. And also,....discuss what 'spot' price LCS and online dealers 'should' be using. Which spot price is 'correct'? Which ones / spot prices (there's several different places to check spot price correct?) are less favorable to people interested in buying, in selling?
for me, pawn shops are not even on my list for places to purchase silver... top locations for me; Coin Shops, Bullion Exchanges, Collectable's & Sports memorabilia, cash for and/or we-buy gold/silver locations. I have been getting best deals on constitutional silver at gold buyer locations - For the last 4 months I have been buying $10 rolls or two $5 rolls of pre-1964 quarters and dimes for $200 - Half dollars they have been selling for $240...seems coin shops and bullion dealers close to me have been selling from 24 to 28x face for quarters! The limited times I have walked into a pawn shop, I usually see random household items/electronics. maybe I have been missing out and should start going into pawn shops more often?
I know two guys that own pawn shops and they are more into gold. They freely tell me that they basically steal it and they never sell it. Pretty sure they usually only deal with uninformed desperate people.
Why don't you ask a refiner? They usually are much closer to spot.
I recently bought gold and silver from a pawn shop here in Midland, Texas whose owner I have known for decades. He’s pretty fair with his premiums.
Thank for the video, it's very informative as always
the other week I gotta 1987 silver eagle for $30 from a pawn shop. It wasn't mint or anything. I think some pawn shops are really good for buying silver, because if they are buying it for 20 dollars an oz. then you offer them 27 an oz. for 5 oz. they will take that all day. They just made $35. But it's rare for them to have silver because when they get it they just sell to the coin shop. But always ask if they have silver that they are holding for the 30 day law.
Pawn America has always had silver in every store I've ever been in for a decent price. ASE and pandas are selling for $35. They also sell alot of gold coins.
I've gone into 3 different pawn shops and none of them wanted to sell me silver or gold coins or bars because they have guys that they sell to for years that come in every day one pawn shop owner told me straight out , even if I had some silver or gold bars or coins I wouldn't sell them to you because I have my regular buyer that I save them for
LOVE YOUR SHOW !
LOLOLOL Yeah Pawn shops... no thanks. But I love your work Silver Seeker!!!!
Pawn shops have people they sell it to, or they will sell it to a smelter. The only pawn shops that are halfway reasonable are ones that sell the silver as well. Even they are way below a coin shop there used to people looking to get rid of it for whatever they can.
Some people do sell to pawn shops for that price; and there are many cities/towns that don't have coins.
I picked up 1 oz rounds for 30 each at my pawn, and they are selling constitutional for 21x face.
Just started stacking, I'd love to make it to 10k ounces; in the first month I've purchased 34 ounces of silver. I'm probably getting 50-100 oz next month or grabbing a bunch of constitutional silver. I've decided to buy every single month, $500-$1000 per month. I'm hoping to have close to 1k ounces after a year, but I may need silver price to drop to achieve it. I can spare about $1k max per month.
If I was rich, I'd honestly just buy futures contracts for delivery. You'd get better prices.
Same here in Canada. Pawn shops here got squat.
Loved the show, but its a sad day when phone calls lead to exhaustion . Jus Say'n
Mentally exhausted not physically my friend
@@SilverSeeker Was just sarcasm
@Duckhunter lol fair enough I just wanted to be clear that I'm not THAT out of shape. :)
I have never been in a pawn shop my entire life and I think they prey on the poor and desperate. If I want to lose money I would always prefer to deal with a LCS since that is what the specialize in.
Well the good news is people have gotten smarter and they don’t sell their silver coins to pawn shops anymore.
A pawn shop in my area has at least 20 Morgan dollars @$40 a piece. I love Morgan’s but having a hard time spending $40 per coin.
The 4th shop said, "we aren't JM Bullion." lol.
Pawn shops are a joke! My local pawn is selling 1964 circulated kennedy halves for $26 a piece!!! And states " no negotiation on coins or jewelry "
I am an employe at a pawn shop, we pay about 85% of spot, and never have anything on the shelf cause i personally buy almost all of it even when my boss charges me a premium. So take that for what its worth.
I go to several pawn shops in Houston area. One of them actually has a good supply. It all comes from Apmex I think, plus any junk silver he gets in. He would give me spot on silver, a little more than that on gold. I did go to a "larger" gold, silver, jewelry type shop, they advertise as best around. They offered 21 and change for silver. Their ASEs were close to $50 !! Crazy times. I'm slowing down and concentrating on 1/2 & 1 oz gold when I can afford it.
Is that shop by the NW side of town?
Yep! My local pawn shop will buy it, but they laugh at the idea of selling it - they say it only flows one way in their shop: INTO the safe! Who can blame them?
I can't say I blame them! :)
i called three pawn shops near me a few days ago and got offered between $5-10 per ounce :X
I am surprised that most stackers will have a hard time selling when their time to sell comes. Seems LCS give sellers low ball offers (below spot) then go and sell the same to a buyer at a premium over spot. Where else can sellers sell their stack at a fair price, without the possibity of getting robbed by selling/meeting buyers on the street?
Facebook groups.
Bottom line in a total currency collapse, will silver be tradable? Like a currency. Will it actually hold value like gold?
Can anyone offer historical proof?
I like the 1st pawnshop guy you talked with.
Speaking of industrial use, I remember in the 90s being told not to buy silver because it was no longer required in photography so it would be pretty much worthless. Had an opportunity to buy hundreds of 1976 Olympic silver coins for a couple dollars each at a garage sale, didn't because I believed what I was told. Certainly regret it now.
I pay in the Netherlands 28.50 euro for a maple leaf or kangaroo or philamoniker, and when I sell to the shop they pay me 26.18 euro, so only 2.30 less. But in Europe we have in many countries 21% vat included. Euro/USD is 1.10
Thanks for the great content per usual!
I never do business with pawn shops.
I've only been in the Pawn Stars shop in Vegas. They were selling 2 scruffy looking Benji's in a net bag with the shop logo for a ridiculous amount. The Sales person told the old lady next to me that there was a full oz of silver in 2 bags. Left a bad taste in my mouth!
nearly all the pawn shops near me do the same thing, they'll buy it, but will not resell it
They don't want the risk of sitting on it. They buy it for way below spot and sell it to a refiner 80%-90% of spot for a small profit. They move it as quick as possible to avoid a drop in spot while they are holding it.
Interesting stuff
My pawn shop has not held silver for years now.
I've been speaking to a lot of pawn shop owners they buy the silver from the people and keep it for themselves they do not sell it if they do sell it they sell it for $40 over spot
Found 2 eagles at a local pawn shop for $29 a piece so they are out there
17 oz love pawn shops.
Geez... such low-ball offers from Pawn Shops. They could probably do more business on a volume-basis if they would only play ball a little more fairly. Thank you for the video!
I was at the pawn shop the other day and they had a Vintage Johnson Mathey 100oz bar for $3750.00
Cool first guy, but crazy what pawn shops offer!
Shop 1 did not mention what percentage of spot on the loan. No mention of fees, or interest rate on it either. If he is offering 17 to buy. That would be 68% of spot collateralize by the silver. He admits the upside potential, but factors in a 32% decline in the short term. You call him looking to sell silver, and end up talking to someone trying to sell you a loan.
He told me specifically that he wouldn't sell and said if I was really hard up for the money to pawn instead of sell. I have to disagree here I think he was quite genuine.
Well of course he is going to offer a loan because that is how they make their money, you don’t honestly think they make money from buying and selling stuff?
@@Artessnow They make most of their money by reselling things that are pawned and then not picked up actually. But that doesn't change that he was genuine and tried to talk me out of selling my silver in the first place.
The three pawn shops in my city all keep the silver and gold for themselves.
The main guy I know fairly well said that he has been buying his gold and silver at a loss for the business.
So basically he’s getting silver for even less than he pays, which is lower than spot.
But he said the last 3 years virtually no one has brought in any precious metals, some necklaces and rings but not a lot.
Dear SS,
I agree your experience is awful for this day. I go to a pawn shop to buy and get good buys. They sell quickly I think becasue of their prices. Tomorrow will get 90% GW quarters at $22 FV. Not long ago it was between 18-20FV. I bout an Engelhard 10 oz $310 last week. The pawn owner has sold me some stuff from her personal stack but will not for others. They bought me a birthday cake. Held items for me while I am out of town or waiting for a check. I get good buys there. But if they sell less than others, then I believe they buy less than others. Ergo, I don't plan to sell there unless I need cash VERY FAST. I know 1 guy who buys there and then sells to APMEX for a profit. See my point?