@Cougar1978 said:
Never encountered something dealer offering too cheap. If he’s really in truly that incompetent and the thing is not CF somebody will eventually pick it off, mark it up to $9k. I wonder if his supposed $9k coin is counterfeit. Is this a TPG graded coin? Is PL on the holder? What is date, grade, CDN Bid / CPG on it?
PCGS graded with the PL on the holder. Higher grade CC Morgan. Known dealer with a presence on the forum, certainly not a fake.
@Cougar1978 said:
Never encountered something dealer offering too cheap. If he’s really in truly that incompetent and the thing is not CF somebody will eventually pick it off, mark it up to $9k. I wonder if his supposed $9k coin is counterfeit. Is this a TPG graded coin? Is PL on the holder? What is date, grade, CDN Bid / CPG on it?
PCGS graded with the PL on the holder. Higher grade CC Morgan. Known dealer with a presence on the forum, certainly not a fake.
Even though I have no idea who the dealer is, I doubt that he’s nearly as incompetent as (Mr. never-made-a-mistake) @Cougar1978 makes him out to be.😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Cougar1978 said:
Never encountered something dealer offering too cheap. If he’s really in truly that incompetent and the thing is not CF somebody will eventually pick it off, mark it up to $9k. I wonder if his supposed $9k coin is counterfeit. Is this a TPG graded coin? Is PL on the holder? What is date, grade, CDN Bid / CPG on it?
PCGS graded with the PL on the holder. Higher grade CC Morgan. Known dealer with a presence on the forum, certainly not a fake.
Even though I have no idea who the dealer is, I doubt that he’s nearly as incompetent as (Mr. never-made-a-mistake) @Cougar1978 makes him out to be.😉
One of the sharper dealers, in fact. Called to inquire and he offered me an extra 5%
Worked out a fair price that was beneficial to us both.
@Cougar1978 said:
Never encountered something dealer offering too cheap. If he’s really in truly that incompetent and the thing is not CF somebody will eventually pick it off, mark it up to $9k. I wonder if his supposed $9k coin is counterfeit. Is this a TPG graded coin? Is PL on the holder? What is date, grade, CDN Bid / CPG on it?
PCGS graded with the PL on the holder. Higher grade CC Morgan. Known dealer with a presence on the forum, certainly not a fake.
Even though I have no idea who the dealer is, I doubt that he’s nearly as incompetent as (Mr. never-made-a-mistake) @Cougar1978 makes him out to be.😉
One of the sharper dealers, in fact. Called to inquire and he offered me an extra 5%
Worked out a fair price that was beneficial to us both.
Good for you for doing the right thing and good for him and your relationship.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
@Cougar1978 said:
Never had that chance. Haven’t encountered a dealer offering material “too cheap.” About the best it’s been is a wholesaler at 5pct above bid. He has a swanky shop in another city where all kinds of material walks in.
@Walkerfan said:
I’ve never been in that situation.
You've never seen a misattributed coin or cherry picked a coin? The coin I mentioned was a cherry picked 1855/54 SLH that I passed on and was curious how it would sell once properly attributed as an overdate. It sold quickly, and the dealer was grateful for the information.
There was a forum member that snagged a 1888/7 IHC that got past both PCGS and the dealer. Forum member purchased the unattributed variety off dealers website.
Dealer caught wind and forum member got shafted out of $10K in value.
Same thing happened to me on Ebay with an unattributed VAM after a minor bidding war... It was a cleaned and reality cost me about $200.
Will aid those that ask for advice ... but otherwise I am ruthless when it comes to coins, fantasy football, and poker.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
@yspsales said:
There was a forum member that snagged a 1888/7 IHC that got past both PCGS and the dealer. Forum member purchased the unattributed variety off dealers website.
Dealer caught wind and forum member got shafted out of $10K in value.
Same thing happened to me on Ebay with an unattributed VAM after a minor bidding war... It was a cleaned and reality cost me about $200.
I am ruthless when it comes to coins, fantasy football, and poker.
I'm not surprised it got past PCGS. I don't think their staff even collect coins. Model trains or Beenie Babies, maybe, but not coins.
The dealer should know better, though. It's a fairly conspicuous overdate so other IHC collectors will spot it. Someone couldn't resist tattling after a sale. I'm surprised that hasn't happened to me.
@TxCollector said:
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
C - Do nothing, it’s gone. For all I know it may have been CF, had some flaw I did not catch. My buying there stuff I win off AS, then markup for show retail. Some really super pickups. Haven’t done a bin in there in ages except a slab storage box. Some bin that seems absurdly cheap probably counterfeit or problem item. As far as the seller it’s his responsibility to manage his business - whats he gonna pay somebody to step in lol / I have my hands full with mine. The style of this thread is that there is all kind of stuff laying around to be picked off well in the real world it’s a different reality. Tell me have you ever done A or B? I backed off D as I probably wb kicked.
@Cougar1978 said:
Never had that chance. Haven’t encountered a dealer offering material “too cheap.” About the best it’s been is a wholesaler at 5pct above bid. He has a swanky shop in another city where all kinds of material walks in.
@Walkerfan said:
I’ve never been in that situation.
You've never seen a misattributed coin or cherry picked a coin? The coin I mentioned was a cherry picked 1855/54 SLH that I passed on and was curious how it would sell once properly attributed as an overdate. It sold quickly, and the dealer was grateful for the information.
I cherry pick stuff across the board all the time. Classified.
I don’t care a crud about what you think of my background. I do both US and World Coins and currency. At one time specialized in Vatican material then USA NBN.
I don’t have time to worry about what other dealers do. If they screw up well it’s on them / tuition time. There’s a select few I do biz with at shows (wholesalers, vest pocket traders) but that’s usually it. My goal is to make enough gross margin (from the public) to offset Opex. Nor I am there worry about their operation / make them grateful lol am in competition with them. If they goof up like gravity they are going to pay some tuition. Security, control of inventory, knowing pricing is a must. Show mgt 101. Many lose money when dealing with high $ expensive coins. If your going to play there be prepared to pay.
@TxCollector said:
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
C - Do nothing, it’s gone. For all I know it may have been CF, had some flaw I did not catch. My buying there stuff I win off AS, then markup for show retail. Some really super pickups. Haven’t done a bin in there in ages except a slab storage box. Some bin that seems absurdly cheap probably counterfeit or problem item. As far as the seller it’s his responsibility to manage his business - whats he gonna pay somebody to step in lol / I have my hands full with mine. The style of this thread is that there is all kind of stuff laying around to be picked off well in the real world it’s a different reality. Tell me have you ever done A or B? I backed off D as I probably wb kicked.
I have never chosen A or B. As a buyer I’m pretty sure I’ve had B happen to me before.
@TxCollector said:
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
It would be unethical to try and void the original deal.
@TxCollector said:
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
It would be unethical to try and void the original deal.
I bought a coin off a reputable dealer website a few years ago, and the dealer canceled the sale because they said "wrong attribution" on the slab. They said being a pcgs authorized dealer that they were not allowed to sell it to me. I still wanted the coin but they refused.
I gave away a coin once - was showing 2 coins / about $200 - $250 MV difference between them to a customer at my table (decades ago) at a show . Got them mixed up (they upside down from my pov) and gave away the more expensive one at the lower MV coin cheaper priced. He even asked “are you sure?” I said “yes it’s yours.” One a 31-S buff the other a 13-s. So out of it gave it away not cognizant what really happening realized much later the mistake. About a $250 loss. Horrible mistake.
Be careful when showing coins especially if dates upside down from your pov. When quote prices make sure your ducks lined up properly.
After that took better care when showing material. The incident really influenced me to really tighten methodology and security. The more the material big ticket the greater the damage can be from that kind of risk.
Yes go ahead and tell the guy the item underpriced ($10k coin above). Make sure he understands why.
@TxCollector said:
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
It would be unethical to try and void the original deal.
What if a seller inherited coins, listed them knowing little to nothing about their value, and accepted an offer that is significantly below what they are worth? Wouldn't it be ethical to let them know they were swindled? In my opinion, your statement only holds true if the seller is a dealer who gets what they believe to be fair market value out of their coins.
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
No. Dealers are supposedly professionals, and it is not my job to keep him afloat. Is the dealer going to split the profit from the person he bought it from for 10-40% less? I don’t think so.
@TxCollector said:
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
It would be unethical to try and void the original deal.
What if a seller inherited coins, listed them knowing little to nothing about their value, and accepted an offer that is significantly below what they are worth? Wouldn't it be ethical to let them know they were swindled? In my opinion, your statement only holds true if the seller is a dealer who gets what they believe to be fair market value out of their coins.
That was not the scenario originally given. But even then, the seller accepted the terms of the sale. To attempt to break that CONTRACT is unethical. Now, whether the original buyer was ethical or not is the original topic of this thread.
Comments
I’ve only been in that situation once.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
PCGS graded with the PL on the holder. Higher grade CC Morgan. Known dealer with a presence on the forum, certainly not a fake.
Even though I have no idea who the dealer is, I doubt that he’s nearly as incompetent as (Mr. never-made-a-mistake) @Cougar1978 makes him out to be.😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
One of the sharper dealers, in fact. Called to inquire and he offered me an extra 5%
Worked out a fair price that was beneficial to us both.
Good for you for doing the right thing and good for him and your relationship.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Here is a slight twist to the original question:
You see a coin listed in eBay that is “too cheap” and it sells by the time you look at the listing a second time. Would you:
A: tell the seller they sold the coin too cheaply and provide evidence
B: tell the seller they sold the coin too cheaply and offer them a higher price to break the original sale
C: do nothing
D) insert your own answer here
You've never seen a misattributed coin or cherry picked a coin? The coin I mentioned was a cherry picked 1855/54 SLH that I passed on and was curious how it would sell once properly attributed as an overdate. It sold quickly, and the dealer was grateful for the information.
There was a forum member that snagged a 1888/7 IHC that got past both PCGS and the dealer. Forum member purchased the unattributed variety off dealers website.
Dealer caught wind and forum member got shafted out of $10K in value.
Same thing happened to me on Ebay with an unattributed VAM after a minor bidding war... It was a cleaned and reality cost me about $200.
Will aid those that ask for advice ... but otherwise I am ruthless when it comes to coins, fantasy football, and poker.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I'm not surprised it got past PCGS. I don't think their staff even collect coins. Model trains or Beenie Babies, maybe, but not coins.
The dealer should know better, though. It's a fairly conspicuous overdate so other IHC collectors will spot it. Someone couldn't resist tattling after a sale. I'm surprised that hasn't happened to me.
C - Do nothing, it’s gone. For all I know it may have been CF, had some flaw I did not catch. My buying there stuff I win off AS, then markup for show retail. Some really super pickups. Haven’t done a bin in there in ages except a slab storage box. Some bin that seems absurdly cheap probably counterfeit or problem item. As far as the seller it’s his responsibility to manage his business - whats he gonna pay somebody to step in lol / I have my hands full with mine. The style of this thread is that there is all kind of stuff laying around to be picked off well in the real world it’s a different reality. Tell me have you ever done A or B? I backed off D as I probably wb kicked.
I cherry pick stuff across the board all the time. Classified.
I don’t care a crud about what you think of my background. I do both US and World Coins and currency. At one time specialized in Vatican material then USA NBN.
I don’t have time to worry about what other dealers do. If they screw up well it’s on them / tuition time. There’s a select few I do biz with at shows (wholesalers, vest pocket traders) but that’s usually it. My goal is to make enough gross margin (from the public) to offset Opex. Nor I am there worry about their operation / make them grateful lol am in competition with them. If they goof up like gravity they are going to pay some tuition. Security, control of inventory, knowing pricing is a must. Show mgt 101. Many lose money when dealing with high $ expensive coins. If your going to play there be prepared to pay.
I have never chosen A or B. As a buyer I’m pretty sure I’ve had B happen to me before.
It would be unethical to try and void the original deal.
I bought a coin off a reputable dealer website a few years ago, and the dealer canceled the sale because they said "wrong attribution" on the slab. They said being a pcgs authorized dealer that they were not allowed to sell it to me. I still wanted the coin but they refused.
Confession -
I gave away a coin once - was showing 2 coins / about $200 - $250 MV difference between them to a customer at my table (decades ago) at a show . Got them mixed up (they upside down from my pov) and gave away the more expensive one at the lower MV coin cheaper priced. He even asked “are you sure?” I said “yes it’s yours.” One a 31-S buff the other a 13-s. So out of it gave it away not cognizant what really happening realized much later the mistake. About a $250 loss. Horrible mistake.
Be careful when showing coins especially if dates upside down from your pov. When quote prices make sure your ducks lined up properly.
After that took better care when showing material. The incident really influenced me to really tighten methodology and security. The more the material big ticket the greater the damage can be from that kind of risk.
Yes go ahead and tell the guy the item underpriced ($10k coin above). Make sure he understands why.
What if a seller inherited coins, listed them knowing little to nothing about their value, and accepted an offer that is significantly below what they are worth? Wouldn't it be ethical to let them know they were swindled? In my opinion, your statement only holds true if the seller is a dealer who gets what they believe to be fair market value out of their coins.
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
No. Dealers are supposedly professionals, and it is not my job to keep him afloat. Is the dealer going to split the profit from the person he bought it from for 10-40% less? I don’t think so.
That was not the scenario originally given. But even then, the seller accepted the terms of the sale. To attempt to break that CONTRACT is unethical. Now, whether the original buyer was ethical or not is the original topic of this thread.