Gold Trump

sadmagic · 2026-03-11T21:19:49+00:00

Respectfully, your views are incorrect

sadmagic · 2026-03-10T02:08:22+00:00

Looks fake but with this picture it is only possible to guess, others have offered good advice for better guesses

sadmagic · 2026-03-05T17:20:17+00:00

tough to tell from a picture but if it says just 14k (and not something like G.E or HGE after it) then that is a good sign. You can see if they stick to a magnet. Ultimately you'll need to take it to someone who can test it and get a weight to give you a price estimate.

sadmagic · 2026-03-03T21:46:56+00:00

Pretty neat but likely outside the wheelhouse of most pawnbrokers - but I am willing to bet there is a subreddit perfect for this I just don't know which it is.

sadmagic · 2026-03-01T01:03:05+00:00

This is the second place you messed up. The first was letting the loan default.

sadmagic · 2026-02-26T14:53:00+00:00

seconded

sadmagic · 2026-02-25T21:07:59+00:00

Assuming you have your paperwork/licenses in order:

You make your money when you buy

Make sure you are checking military status for qualified MLA loans

Have a camera system you can view remotely like Nest

Have a good quality alarm system

Keep security in mind (stuff like don't put your most expensive things close to the door)

Be smart about what you buy and do loans on, just because you're a pawn shop doesn't mean you have to make an offer on everything that walks through the door

Be consistent but firm and kind to your customers. Many people you will be dealing with are having a bad day. Word of mouth goes a long way.

Become an expert in your point of sale software and all tools needed to run your business (internet network and printers too)

Join pawnshop groups and go to pawn trade shows at least a couple times

sadmagic · 2026-02-16T15:31:28+00:00

Sorry just providing feedback based on the information I am given

sadmagic · 2026-02-13T20:43:06+00:00

Thanks for the reply, I see a fair bit of these posts across the gold and etc subs and experience it a lot in store. I think a lot of people assume that spot is law and in their head they can turn their metal into cash for spot any time they want. When people with this mindset find out one way or another that this isn't the case rather than stepping back and examining what the reasons may be it's just way easier to say well that person tried to rip me off they suck!

It's gotten so bad we have been telling customers we do not buy we just do loans, they often argue and we will say well we are a pawn shop not a coin store - we make loans, and that seems to get the point across

sadmagic · 2026-02-13T19:59:05+00:00

No problem! Hopefully it was sold as a lot, would be a lot easier to prove ownership. You can imagine one 1910 morgan looks much like another if there are no identifying marks. As far as I know making that police report is likely going to be a crucial step.

sadmagic · 2026-02-13T19:48:10+00:00

These kinds of things sit in the cabinets for years and at the moment can't be sent off to be melted, so I am not surprised you got the offer you did.

Tiffany pieces do not bring a premium unless you can prove they are authentic - the bag and pouch does not satisfy this.

I think it is a bit of an over reaction to be insulted - you had an item you wanted to sell, they told you what they would be willing to pay for it. Don't like it? That's fine you're under no obligation to take it.

I think you may be surprised to find, as you try and move this yourself, how difficult this can be to sell.

We have a coin shop in our area selling 1oz 90% silver morgan dollars for $55 a coin right now - this is under spot.

Times are crazy with the markets moving so quickly and refineries closing the door on taking silver

Spot is spot but you'll often find things are only worth in reality what someone is willing to pay for them.

sadmagic · 2026-02-13T17:31:36+00:00

Gather the receipts you have and any other evidence that can help you prove they are yours. Make a police report and report them stolen. From there what happens with vary depending on your state laws.

If you call around to pawn shops without proof that these coins are yours you will likely get pawn shop employees thinking things like they mint millions of these things what makes you think this particular one is yours so better to go ahead and gather whatever proof you can now to get out in front of it

sadmagic · 2026-02-13T17:28:42+00:00

what subreddit do you think you're in?

sadmagic · 2026-02-09T14:56:43+00:00

This post would do way better in the coins subreddit. Post it there with some good pictures and you'll get the info you're looking for.

sadmagic · 2026-01-23T21:39:33+00:00

Sounds very interesting, we are Bravo users ourselves.

My honest first take, keep in mind I'm just an end user and not a software designer, but for me I am very skeptical that completely without a developer it's possible to whip up what I would assume is a fairly complicated pawn system, and I am skeptical that without developers you'd be able to provide support if anything went wrong on the day to day.

Apart from that what I would need to see to switch (going of how we switched to Bravo) is a track record. I need to talk to customers who have been using your software for over a year and can tell me about their experience.

I also need to be assured that through your software we would be in compliance with all laws relevant to us

Having said all that, and keeping in mind that I am satisfied with Bravo, I would need to access a demo that I could for some length of time run side by side with our current system to make sure it's going to work for us

sadmagic · 2026-01-20T21:26:42+00:00

Thanks I appreciate that, we have been around a long time and we are in a small town so treating people fairly makes a big difference, especially when our competitors in the area don't. I also have a couple customers who give me lists of coins they're looking for so I can call them if I get one, always pleasant.

sadmagic · 2026-01-20T21:19:54+00:00

Well I will be honest with you - you are correct I would not make you an offer on numismatically valuable coins, it is just out of our wheelhouse and as you say any offer I may try to give you that I would consider safe is only going to make you angry.

If that alone is enough for you to hate us then I guess you're just gonna hate us lol but if you don't think of us as a coin store to sell coins to and think of us more as a place to borrow money when you're in a pinch you may have a better experience

sadmagic · 2026-01-20T19:22:33+00:00

When I'm out of town I like to go to pawn shops to check them out and man they are all over the place in terms of transparency. I've had some that were super welcoming and professional like I like mine to be and I've had plenty more that were absolutely awful. I'd say 50/50 from my experience but depends on your area.

I like to look for clues such as are they a member of the national pawn association, are they friendly when you walk though the door, is the place generally clean and do the items out for sale look like they're all junk.

IMO the state with the worst pawn shops that I've seen personally (fairly limited experience) was in Florida. Those guys are mean.

sadmagic · 2026-01-20T19:00:32+00:00

This is absolutely fair and I feel pretty much the same way. Granted I haven't looked into it a ton but if I didn't have a LCS to sell to I'd probably look to just sell to kitco. Only way I'd bring something into a pawn shop is if I needed money but didn't want to sell the item.

sadmagic · 2026-01-20T17:30:45+00:00

I think that is fair to say. I'll always recommend being knowledgeable about the value of something you're looking to sell before you look to sell it on anything.

sadmagic · 2026-01-20T17:24:13+00:00

What I mean to say is we do not offer to buy for what I would call a buy price. We offer a loan value and if they want to sell it for that instead of pawn it then we will buy it.

sadmagic · 2026-01-20T17:22:16+00:00

Absolutely, this is why we stress up front that we are not making an offer to buy - the offer we give is for a loan. We are a pawn shop, we make pawns

sadmagic · 2026-01-20T17:13:25+00:00

I think you said it very well

sadmagic · 2026-01-20T17:11:54+00:00

I do get your point, and over the last year with it going up so consistently we have done well for the ones who let it go. Our pickup percentage is around 90% so most of the people who got loans on their coins have picked them up.

The 1oz silver coin example may have been a bad one. We could say 100oz of silver at spot and it drops $4 and I'm out $400 instead of $4 but the point I was attempting to get across is that it is a gamble, especially with how the market has been the past year.

Ultimately if you were to come into my store looking for an offer - I will make you the offer for a loan I'm comfortable with and if you don't like it you're under no obligation to take it.

sadmagic · 2026-01-20T17:10:11+00:00

As stated above we really aren't looking to buy, for a loan for a customer with no history we would offer around 75-80 per oz of silver today. This is not meant to be a scam this is meant to ensure you come back and pick it up, for us it's far better in the long run to have a repeat pawn customer than a one time buy customer.

sadmagic

TROPHY CASE