If you point someone to a coin priced below their minimum offer, do they owe a finder's fee?
airplanenut
Posts: 22,249 ✭✭✭✭✭
This is a hypothetical I've been thinking about (and not based on any dealings I've had). Every so often there is a BST post where someone is looking for one or more of something and offering to pay at least a specified minimum for the coin. If you own one, it's straight forward: the sell price is at least the minimum. What if you simply point them to one you don't own?
Let's say the minimum price is $500. If you find one for sale for $450 do they owe you $50 for pointing it out? If it's only $200 do they owe you $300? Or if you point them to the coin do they just owe you a thank you or maybe a nominal fee unrelated to their minimum price?
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No. An act of kindness for a fellow collector is its own reward.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
This past summer I put a collector from the NGC board together with a seller here on the BST. The seller here offered me a fee and I said no. My reply to him was:
"possibly the very best feature of the forum here and ATS is the opportunities both have given me to purchase coins from other members. Being able to help in a very small way to continue that benefit between forum members is my reward."
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Owe you? No. If you want some $$$, you can buy the coin from the seller and sell it to the guy looking for it.
Ditto. Especially if there wasn’t a prior agreement and I did it on my own accord.
Maybe a better question, should they offer a finders fee?
In the off chance this is a serious post and not an attempt at humor, the answer is treat people the way you would like to be treated. In other words, just do it to be nice, not to make money.
Indian Head $10 Gold Date Set Album
If you are a dealer you buy it and then sell it, if you are a friend you just make the connection
11.5$ Southern Dollars, The little “Big Easy” set
Of course not.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I think airplanenut is fun-in us.
“Golden Rule.” Pretty simple (even has “gold”right in it. )😉
🎶 shout shout, let it all out 🎶
No but someone might do you the favor one day, just saying
Only if you've worked out such an agreement ahead of time.
No.
Good karma
He who knows he has enough is rich.
You have to do a lot of pro bono work in this hobby and have to shake off expectations sometimes. . No big deal.
No....it is always good to help fellow collectors.
NFL: Buffalo Bills & Green Bay Packers
definitely a no. remember the motto "All for one" and "All for one " oops "One for all"
Please excuse my lexdyxia.
Very true. I've connected people with items they were looking for simply to help a fellow collector. A few very kind individuals returned the favor (it was very appreciated but obviously not necessary).
If you point someone to savings, do they owe you a finder’s fee?
Do you expect or can expect a finder’s fee?
NO You should be happy to help a fellow numismatist..............
Were a dealer to be contacted by a customer and was asked to find a certain coin/condition for $X then if you found them said coin, a bargain would have been struck and the answer to the question is yes. If you just saw where someone wanted/needed said coin at $X price and you told them about it, I would hope it would be as a forum member assistance and be gratis. I recently did just that, found a coin someone needed and they were appreciative and offered a gift, I said no. I have looked many times for various items forum members mentioned they wanted/needed and have always passed it on via pm's and never considered a fee for this.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
A simple thank you is good enough for me.
Hoard the keys.
I don't assume the gratuity... courtesy costs nothing. Although "bird dog" fees are not uncommon in my circle. We appreciate a good lead and throw a little something their way, might be cash might just be a deal on a coin you liked. Scratch my back I'll scratch yours.
Ounce by ounce the stack grows .
Where’s that book again?
How Not to Win Friends and Influence People
Answer is no, no finder fee due, unless agreed upon beforehand.
I think the problem is the word "owe". There's no obligation that's different over whether someone might offer.
If you help a little old lady with her groceries, she doesn't owe you anything. But it would be a nice gesture if she offered you a cup of coffee or something
We're all supposed to be friends here. Finders' fees (in my opinion) are neither expected nor necessary.
I just do such things as a friendly gesture to fellow collectors. And it has been done for me as well. Cheers, RickO
After re-reading his opening post, I think he was being serious.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
🎶 shout shout, let it all out 🎶
I don't know if I would "Owe" it. But I certainly would pay it.
No - I would hope they would do the same for me someday down the road.
WS
I spend a little too much time online. I come across things. I PM those that collect what I find. Have always received a "Thank You" and am happy with that. I would never consider charging someone and would not accept payment.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I wouldn’t expect it.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
No.
When I do something like this, I do expect something in return.
A simple Thanks works every time.
Wayne
Kennedys are my quest...
One of the many benefits of this forum is the exchange of information that helps other members with many parts of their collecting whether it is general info, pricing or where to find the best or safest deal. Most of us enjoy providing what info we can free of charge. I have learned much from this forum and would happily provide any help I could for another member free of charge but if I am selling it will cost you.
NO, the benefactor should consider paying it FWD!!!!
Perhaps a small bottle of favorite scotch, a chocolate bar etc.. in the mail around x-mas? would be a much better reward than $$$
just saying
I think up all sorts of random stuff. Sometimes I know my answer but can also come up with a rationale for the other side, even if it’s not what I would do. So yes I was serious in wondering how others think, but I try to not show my hand when I ask a question like this; my asking shouldn’t imply that I think anything is owed, though I was genuinely curious if anyone would defend that side. I’ve been the beneficiary of kind actions in the numismatic community (the board and beyond) and certainly hope I can help someone else, as well. Rereading what I wrote, perhaps the word “owe” wasn’t quite the right word for what was going on in my mind, but seeing as no one defended that side, I don’t think there’s any need to deal with the semantics.