Selling to minors

dan1ecu

I’ve been wondering what concerns, if any, a coin dealer would have in selling coins to minors (or buying coins from them, for that matter). A sale is a contract, correct? Minors can’t legally enter into contracts, can they? What is the best policy for a coin dealer to adopt when it comes to dealing with minors?

Dan

clackamas

Minors can legally enter into contracts just like anyone else. However a contract is voidable by a minor for any reason. This is why no one typically enters into contracts with them. Selling a coin is, IMO, no different than selling a candy bar to a minor.

dan1ecu

Hi, Clackamas -

Does that mean that a return policy is meaningless for minors? Can they come back, say, two years after a sale and demand a full refund?

FrattLaw

Yep, up until the age of majority. But I doubt that would happen, plus there would be issues of jurisdiction, which state's law would control, unless you're selling a comma coin to a minor I wouldn't worry about it.

Michael

relayer

Yep, as long as you have an un-conditional return policy until they're 18 you won't have any problems.

jbsteven

technically in Texas you have to be 18 to sell coins to a dealer.

BillJones

In Massachusetts a minor can not only void a contract whenever he or she likes, they also get to KEEP the item even if you issue a refund. (Talk about OVER protection!) For that reason I won't deal with them unless mom or dad says that it is OK. I know most people don't know that that's the law in Mass., but it's better to be safe than sorry.

airplanenut

I'm a minor I like being on eBay all the time... 55 uniques positives, many more... no negs or neutrals...

Most people don't know I'm a minor, however

Please- sell to me... I won't screw you... I promise... unless I can get more $$$

ScarsdaleCoin

I know of cases where coins were bought from minors and sold to minors and have been a major problem.... Without going into details or names I know one small dealer who had his named blackened for this....I believe it became an issue with the ANA as well but I dont know the full details....like you say a minor cannot enter into a contract so for dealers to buy a valuable coin from a minor could be taking a big chance!!!! PS: I get the jeebees when kids buy a gold coin from me (but sometimes I think dad asks them to so they get a better price LOL)