Selling Coins

[michae33]

I have a question concerning selling coins to pawnies (pawn shop dealers). Any suggestions on how much I should be willing to sell a coin for under the grade price to a pawn shop dealer? So, for example, if I have a coin that is worth $80, would it be appropriate to sell it to a pawn shop dealer for $70 or maybe $60? So, what offer from a pawn shop dealer would be too low for me to except his offer for an $80 coin? Any suggestions would be nice, thanks!

Mike

 

[Snoopy36]

I think if a pawnie offers you 50% of the value you're doing well. Keep in mind they will want to resell so they want to sell also at below 'catalogue' price. If you have a coin worth $80 and the pawnie buys for $30 - $40, they'd probably sell it for $60-$70.

'Just my guess...

cheers
snoopy

 

[TURNMASTER]

Check with a coin shop or two before the pawn brokers. A pawn shop should offer 50% or less of value probably less.

Jeff

 

[michae33]

Thanks for the good info guys.

Mike

 

[Goes4ever]

I would NEVER sell a coin to a pawn shop if you truly have a coin that carries an $80 value, you will get the most on ebay........KEY is good quality closeups.

I buy coins on ebay with bad pictures, get them, re-take good quality pictures and re-list them and make a profit, it is ALL about pictures

 

[rja2008]

I know I am a little behind the times with this response. But thought I would relay something told to my father. A friend of his was a pawn shop owner, actually owned about 10 of them. Dad asked him "Why do you offer so little on pawned items?" This was his reply "Sam, If I can't steal it from you for a ridiculous price I don't want it." He went on to say "If I offered $5 on a $10 item; after I clean it up and get it out on the floor for $9 and wait a month or six to sell for $8, I have only made $3.

Best explanation I have ever heard.
JustMy2Cents,
Jasin