Much as you seem to dislike the “Pawn Stars,” it appears they have done noting wrong. According to the article you cited:
The shop is a thriving business, and most likely has a standard procedure for coins that follows the law. The article also calls into question the owner’s valuation of the coins:
So it sucks that the coins are apparently not recoverable, and that they may be worth less than the owner thinks, but the only nefarious actions here were taken by his niece (!) and her boyfriend, who should be held liable for restitution. Rick and his boys are just doing business as usual, and while I might agree the standard holding period should apply to coins as well, the fact is right now it doesn’t so I don’t see how the pawn shop can be blamed for anything, really.
Legally the Pawn Shop is in the clear. But, would it kill Rick to hold coins for thirty days? Give the cops a chance to verify they aren’t stolen? The law may have a loophole but that doesn’t mean Rick has to take advantage of it. Set any collector coins aside for 30 days just like they do all the other merchandise. It’s just the right thing to do.
It’s just a reminder of what Pawn Shops are. They make a living off desperate people. Charging huge interest rates and undervaluing items. They are no different than payday loan places.
TV and the History Channel tries to make them cute and likeable. But they are bottom feeders in the finance business.
I’ve pawned items in my younger and broke years. They always way under valued my items. I had to bust my butt paying off the loan and 25% interest to save my stuff. Unless I wanted to lose a $400 guitar for $75.
I’m not bitching about how pawn shops make money. They are legal businesses.
It does bother me seeing them portrayed as fun loving loveable people on a reality show.
Right and Wrong is meaningless? It’s called character and doing the right thing. I see a old lady drop a $50 bill. Do I pick it up and keep it? Finders keepers. Or chase her down and return it? Businesses are the same. Being fair and honest is good business.
You do understand, I hope, that it’s a business? You may think that guitar is “worth” four hundred bucks, but are they going to get that much for a used guitar? Probably not. So you have an incentive to redeem your stuff while they have the possibility of making good on your loan from selling your stuff if you don’t.
They are a legal business. A necessary one too. There were times when pawning something meant the difference in eating that day or mixing packs of McDonalds ketchup in hot water.
You don’t see that desperation on the TV show. It’s a good show and I enjoy hearing the history behind the items. But its also misleading. Rick’s shop is not anything like the pawn shops I used thirty years ago.
Misleading to any viewer that has never visited a pawn shop. Rick’s shop has expensive stuff I never saw at my local places. His shop is too well lit and clean. I always wanted a shower after leaving a pawn shop.
It is a fun show and the appraisals are my favorite segments.
I’ve never seen the show but as I understand it, it’s set at a pawn shop in Las Vegas. Your local places are, presumably, located in Nowheresville, Arkansas. I can well understand that his store might have “expensive stuff you don’t see in your local places.”
Let’s say you found a $50 bill in your ‘younger and broke years’, but since you have character you took it to the police station. If the police station said “you can keep it kid, nothing we can do with a fifty dollar bill, but if it was $500 or over, then you’d have to leave it here for two weeks to see if it gets claimed before you’d get to take it”
What would you do? Would you stick it in your pocket or would you ask the officer to sit on it anyways? What if it was a ten dollar bill? A five? A nickel? Where’s the line? How should someone else know where that line is and why do you get to decide?
Also, being fair an honest is sometimes good business, sometimes not. They didn’t do anything wrong, it’s a non-story. They made money, that’s good for business. They didn’t hurt their business in any way. In fact, in this case, all they did was drive even more publicity to it. (Is this just going to end up being a publicity stunt?)
On top of that, they WERE fair and they WERE honest. They didn’t do anything wrong. What you want them to do is read your mind and do what you think is right instead of what they think is right.
What if you decided that instead of holding all pawned goods for 30 days, it should be 40 days, should they then have to do that instead?
Does anyone know the answer to this question? If, hypothetically, five bullion gold coins are stolen from your house and tomorrow your skeevy neighbor is seen selling five bullion gold coins at a local coin dealer, how can you prove any connection?
Personally, I don’t think you can and that is probably why pawn shops in Nevada don’t have to hold coins for thirty days to see if they’re stolen.