I Paid A Lot Less Than Spot For This Gold Buffalo, Here's Why?
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- čas přidán 2. 05. 2024
- This week I buy something and pay a price that some people may not agree with. A guy comes into the pawn shop with gold and silver graded coins and he wants a lot more than I am willing to pay. Even though he wants more than I'm willing to pay, I still try to get the deal done. I explain why I can't pay the price everyone wants. After that, we go to a yard sale where used the eBay app to search an item pays off big time. So if you enjoy everything reselling or pawn shop related follow us along our resell journey.
I like how at one point he asked for $25 for a piece, and you told him you’d do $30. Good respectful business right there
Your coin customer did his research. He was happy with your offer. That is how it works. Fair deal.
Been a coin collector for 55 years. I think paying 2200.00 for the gold buffalo was a reasonable price. I also think you are very fair with what you have been paying for items. My experience is a business has to make around 25 to 30 percent to survive. Keep up the good work.
This isnt a corner hustle,thetes overhead.Taxes,electric,heat,insurance,payroll security and banking that gold or silver dont depreciate.You guys are Honest and upfront,period
People that leave hate messages about how you run your business should show how they make money in this business. Keep doing what you do and keep up the great work.
I say F-em!!!
Coin are nice to look at!
Another great video! I think you are very fair in your price per oz on gold and silver. People that complain obviously don't know or understand the cost of doing business. Keep up the great work!
Same people that think 32 hours a week @ McDonalds should be a living wage.
Low balling
That coin guy was pretty reasonable. And who cares what people say just do you. Most of us enjoy your videos and respect your channel.
You explaining your deals is why you are more enjoyable than other picker channels.
Thank you I appreciate it
@PawnBrokerPickers I have a Rodgers sterling silverware set. How do I go about selling it? I seem that video where anithercset reached 1,200 so thing. I ld like to sell like 2 Oz of sterling silver. Dies any pawn shop deal with the silver like your store does?
I’m not a stacker, but the feeling of real money, gold & silver, in your hands, reminds me of the pre1933 gold dollar, and how today we’re so removed from precious metal to paper money.
A good deal is where both parties are happy with the sale/purchase. Haters usually are the ones who would gouge the sellers and be the greedy ones.
The prices you pay are much much higher than the prices my local pawn shops pay.
No crap! Pawn shops never come close to buying your stuff close to spot ever!
Man, you dont owe anyone an explanation, Its a business that supports your life! Sellers can walk away at any time if they dont like the price. The Haters are the ones not getting the flow you get! Nothing wrong with what you are doing!!
I could never figure out how businesses could pay spot and make any money. Your customer was well-informed and happy with the price. Everybody wins, let the armchair critics disagree. You guys are extremely fair.
Big coin and bullion dealers hedge their current positions on a daily basis using unallocated accounts or even the futures market. That's a tough thing to do if you're a small pawn business because you need to employ someone who's good at risk management and of course that costs a lot. The boys here are more than fair for their customers, themselves and us too watching from the other side of the world.
They buy and sell in volume that is where I would sell my metals.
Agree 💯👍🏻
Part of it is when you sell to the dealer he will pay about 70% of spot.
What you paid is very fair. Exactly what you were explaining to us. The seller was happy also. That's a win-win situation. If the sellers happy and the buyers happy that's really all that counts. Hope you guys are doing well. Take care.😊
When I was in Graduate school I went to sell my coin collection for tuition money. The coin dealer explained it to me clearly that made logical sense. If a coin is listed in the Gray Sheet for $100 the dealer will offer me 54% or $54. He will put the coin out for sale at 80% of Gray Sheet or $80. A customer comes in and bargains for the coin. The dealer has a spread of $54 to $80 to bargain and makes his 15 to 20% profit. The customer gets a deal at 75% of Gray Sheet or $75 the dealer makes 21% profit or $21 more than he paid for the coin. Win Win except for me that only got 54% of what the coin was worth of list. I have used this formula all the time when bargaining. Oh, I never sold my coins and still have them today.
I may respond with something crazy back! That had me rolling! 🤣🤣🤣
JUSTIN that thing on your shoulders isn't just a hat rack. Your an intelligent Young man!!! Keep doing your business your way, not someone else's. WHO CARES ABOUT THE HATERS,THEY DONT PAY YOUR BILLS...
No one but you knows how much work you put in.
I love gold buffalos. Nice pickup!
I agree buffalos are exquisite
If he wants maximum value for his coins, then he should go to a coin shop. Truthfully, not even coin shops are paying spot for 1 oz gold coins. Right now in our area, coin shops are only paying $20 under spot for Gold Eagles - so I totally get your price offer. So he's lucky that you even offered anything near spot.
Fair deal. The guy was happy. People have to realize that both of you are the customer. You both have the ability to accept or decline a deal. Disregard the pokes.
50$ under spot for eagles in southern Oregon
Local coin shop is paying $3 under spot for gold buffalo in Missouri.
What are you talking about if he went on jm bullion website they would have paid over spot… only benefit to pawn shop is cash in hand
It takes about 5 days to get direct deposit from jm from the time he ships
@patharris5004 yes he could. He would also have to assume the shipping costs as well. At that point, would there be a significant difference. From where I live, it wouldn't.
People don’t know how hard it is to have a business. I think y’all are more than fair. Enjoy watching keep up the good works.
How about a business online, thats much harder.
Thank you for explaining your pricing on coins, even though it was unnecessary.
the reason I watch your videos is because you do explain and you have made me very knowledgeable. Don't ever change how you run your CZcams.I and tons of others love you and you're dad because you're real!!!!!
X2
I Agree. I learn a little something every video. Plus I like the haggling, ever since I was a kiddo. peace
You are in BUSINESS.
When you make an offer the potential seller has one of three options haggle/sell/walk!
A couple weeks ago I took to my local pawnshop six Canadian sterling coins with an ASW of 6.5oz Au at about $180melt at the time and they offered $60 and I walked.
You can pass on or buy anything you want, because you’re the buyer in BUSINESS
Haters gonna hate. The seller sold at the price you offered. That's all that matters.
As far as I know paying 22k for a round Buffalo is a fair price. Numismatic coins are the kind I like and love.
The fact you in the coin hustle is why your channel hooked me.
That guy was pretty chill. He understood you need to make a dollar. He did ok as he likely purchased those several years ago at much less than he was paid. Good video.
Ur rambling isn't rambling ur educating us. Great video
Just a note, I have noticed recently I have been getting unsubscribed from some channels. Glad I checked your s. I’m back!
Amazing buys as usual 😊
“I already had Matthew call the FBI on me” 😂
Well said. Taking time to explain fees and shipping do play a major factor. Some just won’t get it, that’s okay it’s not their money.
My favorite part is when you or your dad find great items without trying like the Disney stuff. Who knew it was worth so much! Good stuff.
once again world class lesson on the arbitrage of buying and selling
The seller seemed quite happy with the transaction…you were happy with the transaction…you were honest and upfront with everything and he agreed with the price. Everyone else can sit and spin if they didn’t like it. You do good business my friend, keep it up.
Hate you feel the need to explain your business to haters. Have never seen more generous pawn brokers like you and your dad. Keep up the great content!
That Franklyn Type 2 Ultra Cameo is a 250 dollar coin by itself
Nice coin pickups! When I invest in a gold buffalo I sell off some of my collector stamps, constitutional silver or even nuggets first to offset the high price, but then also try to time my purchase for gold to come down first! 👍
Your thoughts on coin purchases make perfect sense.. Thanks
You and your dad are the most honest in that business. Doesn't matter what random knuckleheads say -
It's your business! Run it the way you need to. Your shop is very fair with everyone! Have enjoyed all the content for quite a while! Keep it up!
Love your show brother!! You and pops do a great job. Being fair and honest goes a long way towards a successful business!
It always amazes me that people sell stuff so cheap at garage sales. This includes my own family.
Haters gonna Hate, you guys are the best. Business gotta make money.
I think you are spot on about a coin business. You need a massive amount of money to even compete in that business or basically have to pay half on numismatic non precious metal coins in order to survive. Your pops is the king of garage sale luck. Man he is so lucky and skilled
Great attribute to gave “thick skin”. “ I may respond with something crazy back”, ha well said. I enjoy coins as well J.
getting spot at a pawn shop is a ridiculous expectation..walking out the door with $2200 for a buffalo is a deal! nice work
Love you videos keep up the good work and screw.The people who don't understand your business.You're a very honest person for being a pawn shop.😊
Always enjoy your rambling. You paid a fair price for the buffalo.
I think I understand the business, then I learn something New!
Thanks Justin for your service in helping people interested in resale. Good purchases!
love the channel thanks for the good entertainment
Sorry to all the haters but I'm own a small business. Everyone who owns a business knows you have to make profit to stay in business. This means buy low and sell high. Does not matter what commodity your business deals in. Don't hate those people trying to make a living out there. I appreciate your openness in showing what it takes to keep a business going. While it's important to be good to customers and make them happy, it's also important to make money. Stop the hate!
You are 100% correct. I am an avid coin collector and I don’t know how most coin dealers make it. There margins are so low you would have to be moving a crazy amount of inventory to make it. That’s why I am a collector and not a dealer. Coin collecting is fun and I look at it as more of a long term investment.
That was an excellent back and forth at the beginning of the video. The only people complaining about that deal are the ones that have no idea what it takes to run a business…a fair one at that. Keep on crushing it, Justin…we appreciate you and pops 🤙
You shouldn't have to justify to anyone why you charge a certain price or pay a certain price for items. That's why it is YOU and your dad's business not anyone else's. Let them carry their ass to Walmart or Target and let them tell them what to charge customers for something. Don't worry about those people. You and your dad just keep doing what you do. You all are awesome. ❤ My husband and I watch your channel every Wed. and Fri.
Everyone seemed happy with the deal.
You fine the most interesting things at garage sales to resale. It’s impressive.
The same ones pointing fingers are the same ones crying about it when metals fall! You are doing great my friend.....I did not see one time when you twisted that guy's arm to sell to you for that price! Have a great week!
Great pick ups!
A deal is a deal - between to party’s, with no remorse on agreement.
You’re so honest and fair with the prices you pay people!
Loved seeing the portable "Brick" phone. The more gold and silver goes up the harder it'll be to sell? Not encouraging. The spot prices are such a roller-coaster.
Your not a coin shop. Forget the haters your channel is great.
Kudos for giving as close to spot on the gold buffalo. Precious metals are such a gamble for both buyer and seller when just flipping all the time. Thank for the vid, keep rolling!
The first rule of owning a business is you make profit, or eventually you get out of business. Pay your bills and keep making deals.
Some people just don't understand how precious metals are. The other ones are probably just jealous.
Great vid bro!
I am amazed by the folks who come into your shop wanting to sell items. I always thought pawn brokers loaned money on items as a mainstay of their business.
If the customer is happy then it is always a good deal.
Your deals seem fair to me people don’t understand your a business not a charity. Keep the videos coming.
I love the truth and honesty of how you run your pawn shop
Good price paid for gold buffalo especially the gold price fluctuations.
Can't believe i actually won something. Thanks a lot!
As long as you make a fair deal, and all parties agree to price....roll on!
Wish I could do your job. I'm happy for you and your business!
That's so nice that your giving away something that's worth that much!! Good carma for you sir! The best to you and yours!
As even a very casual gold/silver enthusiast, short term precious metal prices change so much that I feel like I always pay too much. You're in the business to move stuff, so you'd think people would understand you cannot pay enthusiast price with the idea that "hey, in 10 years it'll be worth more!"
The last guy seemed like a cool dude!
I really had no idea that buying or selling precious coins was.so difficult. It's odvious that you are fair. I love the little odd ball things that you and your dad find in these videos.
you are right, anyone paying spot is a fool. If people think you are in the wrong for not paying spot, they don't understand how business works, Con Guy definitely ain't paying spot but nobody complains in his comments. They just complain cause you are a pawn shop, but why would you expect more from a pawn shop? Its a freaking pawn shop!
Every Friday when Justin picks a winner, my blood pressure goes up and I feel like I’m using a slot machine 😂😂
I received my tshirt today and am so proud to wear it!! Why? Because you are an honest man making an honest living. Not cheating and being deceitful in practice. Great video
Justin…watching all videos…I enjoy the yard sales
Love the videos! Thanks for sharing!
I wish people would come to me with gold and silver. Love your channel.
New here. Here for the win.
Thank you for the videos!
Thanks for the video, love you guys!
Loved the video. Thanks!
Reasonable price for everything, let the haters hate, and keep doing what you are doing
great transaction for both sides.
profit is what enables a shop like this to stay open.
Murica!
No disrespect but this is same reason, I don’t Sale my Gold & Silver to Pawn Shops because they Low Ball You!!! Especially your hard working money screw that rather just Walk Away & No Thank You. Rather keep my Precious Metals till I get at least spot price or $20 to $40 over spot price over my Gold. Silver most of the time you take hit that’s reason you stack for the Long Haul!!! This Pawn Shop needs to Survive & Make Living!!! They look like honest Son & Father Business much Respect!!! 🥇
Thank you GREAT video Justin...
I appreciate you taking the time to explain your position; at the end of the day it is your business, you guys run it the way that works best for you. Everyone else should mind their own!
Really enjoyed this lesson
Thanks, again, great video.
Good buy!
Always the great finds
Thanks for the info on these videos
Enjoyed the video. Thank You
Love the Friday videos ...!!!!
Great purchases. Thanks for the video
You guys are awesome. Hope the year stays good. Keep hustling fam