My Experience With A Pawn Shop

[Milhaus]

Sorry you had to find out like that Penny. What they tried to do to you is a form of usery. They are playing the odds, hoping that enough people they can scam into accepting almost nothing will walk in the door.

For a lot of them it means they have no idea how to identify real jewelry, so they have to scam others to avoid losing money which means they should not be in business in the first place. The rest of them who are reasonably competent at IDing jewelry see how much money the others are making by robbing people and just do that anyways.

The bottom line is they regard anyone who walks in the door as trash. They are assuming that only two kinds of people want to sell things to them, criminals and the unknowing. Either way they can be exploited.

Then occasionally they get someone like you and have to slither back underneath their rock.

 

[Coin Machine]

Just last week I sold off my silver and gold ring.

Pawn shop offered:
$85 ring
$13 silver

My jewelry store I trust offered.
Ring $225 plus $40 in free gas cards
Silver $27.00

See the problem?

 

[Dark Chameleon]

In Connecticut, pawn shops will hold the gold for 2 weeks (required by law) and immediately send it out for melt no matter how nice the piece is. The reason is this: If the gold is stolen, and the real owner spots it, they must return it to the owner. Of course the owner must prove it is thiers and the police are involved in the process. However, if the piece is already sold or sent out for melt, the owner is out of luck. Melting is quicker than selling and doesn't sit in a display case for everyone to see. I know this because my wife and I had $13,000 worth of gold stolen from us and it was traced to a pawn shop. The detective told us to go to the pawn shop and see if it was there. It was already melted, so we were out of luck.

Surprised you had $13000 of gold int he first place...i see people melting gold on youtube all the time, but im sure places will melt it for you and charge accordingly...you see ingots often on ebay, hand melted, i think if i do it im going to do the proper looking ingot then coin tumble it to round off the edges, i think you have to hammer in the weightwhile its still semi molten or it can crack

 

[pescadore]

Pawn Shops are definitely not the best place to get top dollar for your gold and silver.

 

[Dark Chameleon]

Think when you melt though your creating a 14k or 10k or 18k ingot or button...and have to keep the colors the same, you dont want to mix the yellows, mustards and whites.

One reason i like to buy wedding rings, they tend to be without stones and set colors...nice incase i do want to melt later....I'd consider getting someone to melt the stuff down and make something nice from it, and collect all my diamonds and do somethign with all them too...but the cost of making settings can be expensive, specially custom, like a hand built car against a basic stamp em out...but might be worth it one day...that'll teach my wife, ill have her a 3 lbs necklace made.....lol...strangled by her own jewelry...lol

 

[Coin Machine]

Think when you melt though your creating a 14k or 10k or 18k ingot or button...and have to keep the colors the same, you dont want to mix the yellows, mustards and whites.

One reason i like to buy wedding rings, they tend to be without stones and set colors...nice incase i do want to melt later....I'd consider getting someone to melt the stuff down and make something nice from it, and collect all my diamonds and do somethign with all them too...but the cost of making settings can be expensive, specially custom, like a hand built car against a basic stamp em out...but might be worth it one day...that'll teach my wife, ill have her a 3 lbs necklace made.....lol...strangled by her own jewelry...lol

I have a 2oz "blob" I wear once in a while. Its made from odd pieces and old gold. It got mixed up good whn melted. It cost $10 or so to have it melted and have a loop put on.

 

[yandosan]

Yeah, I too got a ton of attitde from a grubby 40-something
ex-con type when I went to sell my horn years ago.
That's why I'm fascinated by Pawn Stars. They decided
to be classy about the whole business, and it helps them.
(Assuming it's an acurate depcition of their business.)

 

[Pennyfinder]

I like Pawn Stars and that other one with the father, son and daughter (the arguments they get into -- is laughable ). But Pawn Stars (if it's accurate) is the reason I went to a pawn shop thinking I could get a fair deal -- NOT! Won't do that again!

 

[daltondak]

You guys realize their are places on the Internet that give u 99% of gold melt value and 90 on silver. Can't believe someone takes 75% of melt. No wonder there is all these scam shops everywhere

 

[alumaman]

I had a couple pieces of gold jewelry (one of which was appraised at over $400). I knew I couldn't get that much. I was figuring on $100 or $200. HA! It is a shriners sword with diamonds and blue saphire (14K). And I have a woman's white gold wedding band (18K). The girl said she'd give me $7. Dream on! Not in my lifetime! I took them back and left. I won't grace their doorstep again.

I learned with my second piece of gold jewelry to shop and use the first price at the second place and so on. They all come up in price until you hit an honest shop and that guy will give you his best offer first. Good luck.