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country_bumpkin
Penny Sorter Member
USA
86 Posts |
Posted - 01/21/2010 : 17:27:39
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And lecture people.
Noobs. Lordy.
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“He who goes a-borrowing, goes a-sorrowing.”
- Benjamin Franklin |
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kirkland
New Member
USA
0 Posts |
Posted - 01/21/2010 : 17:32:01
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| Lecture people? Who do you think I am? |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
 Posted - 01/22/2010 : 19:09:38
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quote:
Originally posted by Neckro
It's a fun show. It just inappropriate languagees me off how much they lowball people.
The business they are in involves buying alot of oddball items. This means these items may sit for weeks, months or years on their shelf until a buyer is lined up. All that time their cash is tied up in the item.
The margins they work with are similar to what alot of companies make on their products...you know, the companies that give people their weekly or bi-weekly paychecks.
I'm not sure of your work situation, but my guess is you have never been in business for yourself? Correct me if I am wrong, but I see this sentiment coming from people who normally work for someone else, collect a steady paycheck and dont say a peep about the profits their company is making that allows their company to pay their employees. Seems ironic doesnt it?
These people have the option to sell on their own through an online venue like Craigslist or EBay, or through an auction house. But there is time and fees associated with this, and by selling to the pawn shop they are getting immediate CASH in hand and out the door. There is value to this as well. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 19:12:34
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quote:
Originally posted by giddyup99
quote:
Originally posted by wolvesdad
Just watched the two most recent episodes.
I don't know.... anybody have good knowledge of the profit end of coin shops or pawn shops?
Seems they took advantage of a guy with the War Bonds posters.
Are they really taking advantage? or is that the cost of selling things to a re-seller? I.E. are they honest money makers or are they crooks?
To me it seems an honest money maker would always give the seller the best price he could, even if the guy had no idea what it was worth.
I think I have seen every episode, but the one you mentioned, and haven't felt they were taking advantage of anyone. Nobody is forcing them to sell, and they have every right to walk. They cannot give them anywhere close to retail for the items they buy. Most of the items shown on the episodes are rare, valuable, and expensive. They are not a normal retail store and some of this stuff may sit on their shelves for quite a while. They are all about turning over inventory, anything that sits is costing them money.
I think they are very fair in bringing in experts to authenticate the items and give them an approximate value. Rick is pretty upfront saying he can't pay retail because he has to resell it for a profit.
The margins as they appear are not nearly that great in reality.
Walmart buys the junk they sell for 50 cents on the dollar or less too, when they get done cooking the books their margins are very slim on the retail side, probably a couple percent. Nobody complains to Walmart that they are taking advantage of the manufacturer they are buying from. Quite the opposite.
I'm not a pawnbroker (I do know a couple), but I've sold thousands of things on ebay and each item purchased is a risk, there is no guarantee that what you just bought is gonna bring what you think it should. Buy low/Sell high. On a side note, I know a guy who owns a sports card shop who used to make an absolute killing selling cards on ebay several years ago. He'd buy cards from customers knowing he had a wider market on ebay. Now he does the opposite, he BUYS on ebay to resell to customers in his store. Many categories on ebay have turned this way.
I think most people think they are screwing their customers, because they are usually in a tough spot and need the cash. They do provide a service and it is valuable to many people who need it. If they don't want to sell it, just pawn it and come back and get it.
Payday loans are another story. I go around and around with the couple pawnbrokers I know about those scams.
Good post. I posted a response to someone else complaining about them lowballing, but hit on alot of the same points that you did.  |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 19:17:46
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quote:
Originally posted by wolvesdad
Just watched the two most recent episodes.
I don't know.... anybody have good knowledge of the profit end of coin shops or pawn shops?
Seems they took advantage of a guy with the War Bonds posters.
Are they really taking advantage? or is that the cost of selling things to a re-seller? I.E. are they honest money makers or are they crooks?
To me it seems an honest money maker would always give the seller the best price he could, even if the guy had no idea what it was worth.
Pawn shops I cant speak for, but I own and operate a coin shop with another guy. The margins are slim on bullion...no surprise there. Typically if we make 8-10% were happy.
On numismatic items, the margins are a bit higher, somewhere in the 20-40% range, but the turnover is much much lower. Collectors are very particular about the items they want, so much of our inventory sits there and doesn't even get a 2nd look. We do our purchasing based off of demand and what our stock levels are. So if it's something that we have alot of or know wont move anytime soon, we may pay 50% of retail (and therefore get 50% margin when it sells) but it could be months or years before we realize that profit. On items we know we have a buyer lined up, we may purchase the item for 85-90% of retail and take the quick 10-15% profit. We see everything on both extremes and in between, that's why I gave a broad range of 20-40%.
For scrap gold, the margins are roughly 25-30%. Typical buy prices in this area are 65% of spot at the time of purchase, but the realized profit may be much higher or much lower depending on when the items are sent to the refiner and what the spot price gets locked in at.
Hope this helps... |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 19:19:55
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quote:
Originally posted by kirkland
you can actually learn things on the computer, country bumpkin, and ask questions to others in forums like these. Other than this site and a few other sites, I do other things than the computer.
You can also learn things watching tv. Believe it or not, there are some channels like History Channel, Discovery Channel, Science Channel, National Geographic, etc where you can learn about a wide range of things.  All while sitting there in the recliner or on the couch...imagine that. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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kirkland
New Member
USA
0 Posts |
Posted - 01/22/2010 : 19:34:02
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| Yes, you are right. However, such educational material can also be extracted from books and good websites. |
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 01/22/2010 : 19:52:26
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quote:
Originally posted by kirkland
Yes, you are right. However, such educational material can also be extracted from books and good websites.
I just see the TV as another resource, not that I have a problem with you not watching TV.
Also, I can also find lots of info on farming on RFD. So like I said, another resource doesn't hurt.
Except for my work ethic in school.
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Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
+637 posts |
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kirkland
New Member
USA
0 Posts |
Posted - 01/22/2010 : 20:02:22
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| I am not ruling out TV as a good resource, I just would rather get information from other things. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 20:07:36
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quote:
Originally posted by kirkland
Yes, you are right. However, such educational material can also be extracted from books and good websites.
Very true...but the tube is much easier on eyes after a long days work, much of which is already spent in front of a computer monitor. So doing more surfing or pickup a book when the eyes are already tired is not always ideal. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 20:09:17
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quote:
Originally posted by kirkland
I am not ruling out TV as a good resource, I just would rather get information from other things.
Umm I think you already did on page 1 of this thread:
"Yes, but I still don't think TV is all that much worth it. You don't gain anything from it, and you could be doing much more rewarding, fun, and exciting things than sitting and watching TV."
So which is it? |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 20:09:43
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quote:
Originally posted by kirkland
Yes, but I still don't think TV is all that much worth it. You don't gain anything from it, and you could be doing much more rewarding, fun, and exciting things than sitting and watching TV.
Here I quoted what you typed on page 1 for easy reference... |
My hobby: collecting real money 1 copper cent or nickel at a time.
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kirkland
New Member
USA
0 Posts |
Posted - 01/22/2010 : 20:58:26
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Yes, well, I didn't say that there weren't any good things on it. It just isn't worth it like I said. It's true that some channels are decent, but commercials are still a pain. I firmly believe in other ways of resource and my mind will not change.
By the way, eyes can be strain by TV too, you know. |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 01/22/2010 : 21:07:40
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I've been known to sort coins
*while*
I watch Pawn Stars. Multi-tasking, eh?
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Trust the government? Ask an Indian. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 21:13:43
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quote:
Originally posted by kirkland
Yes, well, I didn't say that there weren't any good things on it. It just isn't worth it like I said. It's true that some channels are decent, but commercials are still a pain. I firmly believe in other ways of resource and my mind will not change.
By the way, eyes can be strain by TV too, you know.
Commercials are definitely a pain, but what can you do?
Anyway, you're set in your opinion and that's fine, but some of us do find some value in tv. Whether that be learning something, killing time and relaxing, or for entertainment it seems to have a wide range of value to a wide range of people.
I guess I find it a bit odd that you would come on a thread about a tv show and pronounce your apparent disdain for tv in general, when others are having a fun discussion about an entertaining show.
Btw, I don't get eye strain from watching tv as it's not 12-18" from my face like a computer monitor or book. Nor do I watch enough tv to even worry about eyestrain. I pick and choose what I watch, and understand the value of other forms of gaining knowledge or entertainment. I have an open mind.  |
My hobby: collecting real money 1 copper cent or nickel at a time.
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kirkland
New Member
USA
0 Posts |
Posted - 01/22/2010 : 21:21:41
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| Excuse me? I was just simply saying that I could not answer this question because I do not have a good opinion of TV. I never meant for any of you to find offense at that. I was just telling you that I can't say anything so you wouldn't expect anything from me. Well, I find the statements of yours and country bumpkin's personally offensive and I don't mind telling you! Trying to degrade someone for having a different opinion. You all should be ashamed of yourselves, especially saying all that to a new poster, who has posted more comments in a week than any of you could in a month! Is this how you're going to treat a new member with your hopes of getting 1,000? I might just withdraw my membership, if this site really is not about hoarding copper pennies. |
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country_bumpkin
Penny Sorter Member
USA
86 Posts |
Posted - 01/22/2010 : 21:27:55
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quote:
Originally posted by country_bumpkin
And lecture people.
Noobs. Lordy.
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“He who goes a-borrowing, goes a-sorrowing.”
- Benjamin Franklin |
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Kurr
1000+ Penny Miser Member
2906 Posts |
Posted - 01/22/2010 : 21:31:38
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I dislike T.V. in general. It was designed down to the frequency of frame rates to mesmerize and manipulate the brain. They call it programing for a reason. Even if that programing is to cause the mind to be conditioned to a vegetative or trance like state for a certain period to ease the introduction of ideals. I do not watch most television programing nor am I exposed to it. We do not have a digital tv receiver in the house or cable/satellite etc.
That being said if we want to watch a certain series or show from something like the channels mentioned before, we rent the dvd's online. Commercial free often times with lots of extras. We have DVD series of 45 min lectures, appr 60 if I remember right, of a college professor on ancient Egyptian history and another series by a mathematics teacher teaching , well, real math skills.
Ever hear of smartflix.com ? Great stuff there! And M.I.T. has put their whole curriculum online, in something called opencourseware. Best part is their motto for the program if you will, is they offer it for free if your smart enough to learn it.
I checked out some vids on youtube of this Pawn Stars and am considering renting it for the same reason I would watch the antiques roadshow. I like to listen to experts explain things, and I think these guys seem to be masters of their craft. I can't be there and hang out in the shop so this would be the next best thing. |
The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 01/22/2010 : 21:31:45
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quote:
Originally posted by bman
quote:
Originally posted by kirkland
I can't stand to sit through commercials.
that's why the DVR is the greatest invention ever  FFWD right over those pesky commercials.
I love mine. I work 3rd. Only thing on when I get home is those infomercials. I record all the prime time shows and watch them in the morning. 1 hr show in about 35 min. |
You don't have to be the BEST you just have to be.......SLICK
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 01/22/2010 : 21:42:45
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quote:
Originally posted by kirkland
Excuse me? I was just simply saying that I could not answer this question because I do not have a good opinion of TV. I never meant for any of you to find offense at that. I was just telling you that I can't say anything so you wouldn't expect anything from me. Well, I find the statements of yours and country bumpkin's personally offensive and I don't mind telling you! Trying to degrade someone for having a different opinion. You all should be ashamed of yourselves, especially saying all that to a new poster, who has posted more comments in a week than any of you could in a month! Is this how you're going to treat a new member with your hopes of getting 1,000? I might just withdraw my membership, if this site really is not about hoarding copper pennies.
I don't believe any offence was meant. As for country bumpkins response, I wouldn't have said it. But you useing your amount of posts as defence... Scrach That!... You have been very aggressive to members who have been around for much longer than you.
I am not trying to put you off, but I would love to reach 1000 posts as well and believe that 40 posts per day is "a little" excessive.
The way you have posted on this... post(), I am not sure if I would mind you cooling off for a while. Spend some more time sorting pennies and less time insulting members who have actually established themselves here!
And to think Forumco locked me off, I wasn't nearly as belligerent as you! |
Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
+637 posts |
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 01/22/2010 : 21:44:28
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I just think it is funny that you think hiding behind a shield (threat) of "withdraw" will actually help you!
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Copper Cent Hoarding Wiki
coppercenthoarding.wikia.com
+637 posts |
Edited by - jtm3 on 01/22/2010 21:47:50 |
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kirkland
New Member
USA
0 Posts |
Posted - 01/22/2010 : 21:47:52
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| I'm sorry for being so aggressive. I just didn't mean anything in the first place. I'm not trying to insult members, I just get angry when they insult me. Please let us forget this whole thing. It was blown way out of where it should have gone. Enjoy your show, and next time, I won't inform people that I don't know anything about it. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 21:48:00
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quote:
Originally posted by Shattered
I watch this show all the time. My favorite one was when that guy brought in a old flintlock and it turned out to be fake. He tried to remain calm but freaked out and started yelling and cursing once he got outside. Haha, I'm surprised more people don't react like that.
That episode was great. The guy was so mad, I thought he was going to use the pistol and beat on the cameraman.
Have you seen the one with the guy who brought in the bullwhip from Indiana Jones. He got a pretty confident look on his face when the expert quoted a large dollar amount, but then looked really ticked when he found out his whip was nothing special. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 21:52:00
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quote:
Originally posted by Kurr
I checked out some vids on youtube of this Pawn Stars and am considering renting it for the same reason I would watch the antiques roadshow. I like to listen to experts explain things, and I think these guys seem to be masters of their craft. I can't be there and hang out in the shop so this would be the next best thing.
I love that show as well, and find it both entertaining and informational. I wish I had 1/10th of the knowledge the appraisers on the show do. It would make going to garage sales and thrift shops that much more fun and profitable. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/22/2010 : 21:56:57
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quote:
Originally posted by kirkland
I'm sorry for being so aggressive. I just didn't mean anything in the first place. I'm not trying to insult members, I just get angry when they insult me. Please let us forget this whole thing. It was blown way out of where it should have gone. Enjoy your show, and next time, I won't inform people that I don't know anything about it.
No insults were meant by me, so if you took them as such I apoligize.
I was merely pointing out that you were jumping into a thread about a tv show, and proclaiming you that you're proud that you don't watch tv. That comes off as stirring the pot or antagonistic in my opinion, but maybe others dont see it that way.
I was also merely pointing out that in one post you said there is nothing to gain from tv, and in another you admitted that there are some decent shows that have some value. So it did seem that you were giving conflicting opinions once questioned on your stance.
Again, no offense was meant, and we hope you stick around to discuss metals. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Anyone watching Pawn Stars?
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