1791 Washington cent on Pawn Stars

Glad to see the second straight episode with coins in it...

Customer had an offer of 2k for it from someone, NGC guy appraised it at $750, no deal was made.

 

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What kind of idiot takes a coin like that to that particular place to sell?

 

a person that inherits a coin and is to lazy to do their homework and find out what the value is.

 

Also, someone who wants to be on TV, with a bunch of idiot buyers

 

I have some collectable items that have come down in the family that are NOT numismatic. I know enough to know that if and when I occasioned to desire to sell them that some TeeVee pawnshop is the worst place to go. In fact some of the stuff is more along the lines of a Heritage Signature auction.

 

Honestly it's not the worst place to sell it. Because it's televised he's forced to be fairer with you then a normal pawn store and they might bring in an expert and you get a free professional appraisal that's honest because again it's televised. He smartly turned down the offer because he's had a better offer granted he admitted it to bring 20 years ago. You could do worse surely you can do better but that's beside the point.

 

The offer was fair, coin looked to be about XF condition, he might get $800 for it on ebay but after fees it's more like $680. Not to mention if he has a bad buyer who doesn't pay or claims never received etc...

That's not why I created this thread, however, I did that to talk about the coin itself not the price. They said at that time in 1791, there was no US mint, so a guy minted a keg of these coins in Birmingham, England, hoping to get a contract to mint coins for US. Not being a US coin collector, I found this story very interesting.

 

another scenario is...that them being in Las Vegas and that they just lost their shirt, shorts, socks, and shoes gambling. the pawn shop might be their only way home, for food, rent money. great place for a pawn shop (Las Vegas). desperate people will sell their souls there for more money to gamble with. it's so sad to see too.

 

Yea even being a US coin collector I learned something as I have never really gotten into the early US coinage because of the prices associated with them.

The shop is an ok place to sell but never ever buy there there prices are out of this world and you'd have to talk them down on anything you bought to get a fair deal.

 

Not all that many compulsive gamblers travel with their coin collection if they are not going to a coin show.

 

It is an interesting story.

http://www.coins.nd.edu/ColCoin/ColCoinIntros/WashEAGLECent.intro.html

 

Actually, I think it's a great way to advertise. Get the coin on TV...don't make a deal and then sell it to someone else with the fact that it was "featured on Pawn Stars."

 

Ah, the old 25% premium for the Pawn Stars coin.

Will NGC mark it on the slab?

Right next to Eric Newman's name?

 

P.T. Barnum was right my friend.

 

and I admired him, I do believe he was also Rick's friend

 

Could be a paid actor or another NGC employee. A lot of the show is staged. I wonder how much NGC paid for the advertising.

 

I was in the shop last week and everything I looked at was for sure over priced. They had some NGC slabbed coins with a "Gold and Silver Pawn" special label even!

Rob

 

NGC slabs their coins with a special 'Pawn Stars' label???? I understand it's a cert referring to the store name, but the fact they are giving them special consideration, blows my mind. It's just already been ridiculous for awhile....yet some decisions NGC and PCGS make for labels, it's out of control.

 

You can pay an extra fee and get slabs labelled as you wish. Which IMHO dumbs down putting coins in TPG holders in the first place.

 

I feel bad when I see people find out that their items are worth less than what they were offered or what they thought. But at the same time that is just a lack of knowledge and they must have been lazy enough not to find out what it truly is worth.