Stolen Coin Controversy Involves the "Pawn Stars"

[jeff of pa]

LAS VEGAS -- If you were going to try and unload a fortune in stolen coins, would you take them to the world's most famous pawn shop? That's allegedly what a local thief did after stealing $40,000 worth from a home.
The suspect sold the coins to Gold and Silver Pawn Shop, the home of television's hit show "Pawn Stars." But what happened next is raising questions about whether Nevada's pawn shop laws have a big loophole.



I-Team: Stolen Coin Controversy Involves Famous Pawn Shop - 8 News NOW

 

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[NHBandit]

The part about possibly changing the laws to force pawn shops to hold coins they buy for 30 days is a "feel good" gesture but very unfair to the shop owners. The huge majority of coins they buy are probably bought for scrap value and the prices jump around too much to expect the shops to take the risk of losing big. I know a lady who works at one of the "We buy Gold" places and they ship out the stuff they buy daily so there is very little risk.