problem with Jay Parrino...thanks all...let's let this die now

PQpeace

Hello,
I need your help to decide what to do about a situation I am involved in with Jay Parrino.

Here is the short version:

I picked up His new BLUE catalog about 6 weeks ago at a major show.
I saw a 93s Morgan in au55.
I called him as he opened the next morning.
I asked how much the coin was,and also told him I had a pcgs au53 to trade in.
He gave me a price of 5k and my coin.He was very happy to have my au53 also !
I told him that if I liked his coin,we had a deal.
He assured me I would like his coin as it was very nice.
Based on this,we had a verbal contract ?
I gave him credit references to avoid sending him any money.
I called him the next day and he said my credit was great !
He assured me the coin would be shipped within 2 days.
After waiting 7 days,and no coin..I called him and was told the coin was still in the bank,and it would be shipped the next day.
After another 5 days,I called again....he pretended not to know who I was,but I made sure he remembered !
I was told again that the coin would ship the next day.
I have gone thru this now for 6 weeks at least.

He now has a 93s listed again,but the greysheet has gone up a few thousand since our verbal deal..
I am not sure if it is the same coin or not..
do I have a leg to stand on ??or am I out of luck ?
what would you guys do
Thanks,Larry

jonesy

I don't know him, but something is wrong here. I'll wait to see what other members have to say!!

LucyBop

why deal with someone who would treat you that way???? There are many fine dealers out there who will not behave in such a fashion...

fivecents

A big name dealer like Jay Parrino should act alot more professional than that. I agree with Lucy... Don't do business with him.


Paul

dragon

I don't know about the verbal contract part, but that certainly seems odd that he strung you along like that unless he sold the coin to someone else after speaking to you initially.

Russ

Is he a member here?

Russ, NCNE

Loki

Im my state verbal contracts are legal but the caviat is, "Try to prove it".
I guess you could call yourself lucky that he didn't get ahold of your au53 and then string you along!

supercoin

From the way you describe the situation, it certainly sounds like he should honor your deal -- and pronto.


On an unrelated note... $5,000 to upgrade from AU53 to AU55??? You classic collectors are NUTS!

LucyBop

where the words "done deal" ever mentioned?

PQpeace

At this point, I don't really care to call him again.The coin would probably be a 52 in a 55 holder

He knows I am unhappy.

He said it was a very nice coin..so I was expecting maybe a 56 or 57,compared to my 53..
Done deal never was said,but I never say that..

In my business that I have run for 30 years now,when a customer offers to buy,and I accept his price..it is a done deal.

Maybe 5k was not enough money for him to go to the post office

Larry

greghansen

With regard to the 'whether you have a leg to stand on' the answer would be....no. At least IMO with the standard disclaimers of not being licensed to practice in your state, blah, blah, blah. As to why....you said to him, 'If I like the coin, we have a deal'. He never sent you the coin. We don't know if you would have liked it. Him telling you, 'you'll like my coin' is nothing but an expression of opinion. It's not actionable. Now it sounds like he doesn't want to send you the coin to see if you like it. Why not? Maybe cause the damn things go up in price every 2 weeks in the Greysheets and he knows he can do better elsewhere? At any rate, I know of no legal basis to enforce the 'near deal' you had.

As to all comments about it being a crappy thing for him to do. I whole heartedly join in on those comments. I would think a dealer would rather consumate the deal knowing he could probably do better now, than run the risk of being exposed for not following through.

MrMoo

Keep your 53 and spend your 5k somewhere else.

Shamika

I've never delt with this well known dealer, but I wonder what his side of the story is. Maybe he thought you were going to send your coin first.

Regardless, if what you say is true, he appears to be less than ethical.

greghansen

Just another thought...are the 2 of you members of a trade organization (or is he) that requires its members to enter into binding arbitration of customer disputes? Something to think about, cause thats going to be decided on equitable principles (whats fair) as opposed to strict legal principles which you get stuck with in a court of law.

jonesy

Who is he??

Coulport

He's jerking you off.



<< <i>He now has a 93s listed again,but the greysheet has gone up a few thousand since our verbal deal.. >>



Kinda explains it doesn't it?

Dog97

Jay "The Mint" Parrino has million dollar coins for million dollar customers. The fact that he really doesn't want to deal with you should tell you something.
You're still trying after 6 weeks?

PQpeace

I told him I was going to compare the 2 coins side by side..that would be pretty hard if I sent him mine first.
He knew exactly what he was doing..

wingedliberty

Is he a member of the ANA and/or PNG? If so, I would contact those organizations immediatly and have them mediate. I would certainly not deal with him again. Also, Yes, I would put the $5k elsewhere, like a 1916D Merc.


Brian.

roadrunner

Ethics get quickly tossed out the window when money is involved.
This behavior doesn't surprise me in the least. There's nothing The Mint has that you can't find elsewhere.....and at the same or better price. Happy hunting.

roadrunner

ConstellatioCollector

Jay Parrino should lose a lot of business after this thread. I have always stuck by my word. If I had misquoted the price, at least have the cojones ro try to communicate with the buyer te new price.

ER

Chalk him up on the "DO NOT DEAL WITH" list. Move on.

Lakesammman

I would say you had a problem - if you continue to beat your head against the wall by calling, then you will be having a problem...

Had a similar experience a few years back and haven't bothered calling again since. I would quit wasting your time and chalk it up to experience.

docday2003

Interesting thread. I have never dealt with him...but I have been interested to note that many unique Canadian coins have been listed in his catalogues at huge prices, only to turn up in someone else's auction for MUCH less (proving that he is selling the coins for much less than originally listed). I think that the list prices are OPTOMISTIC to say the least. IMO.

michael

just forget about it

sorry for what happened

now if you ever saw him at a show in person and liked a coin he had and could right then and there complete a deal to your satisfaction then why not?? it is only business nothing more nothing less

take things personally with people you will wind up a really lonely person and wind up dealing with no one......................lol



sh1t if i had a dollar everytime in life coins or not something not right unfair and unjust happened to mee i would be a millionaire

why worry over stupid sh1t with stupid people? such is life you will survive

at least you did not lose your a$$ or your health over this

i mean it might not be right oh well IT IS AN UNJUST UNFAIR WORLD OUT THERE...........LOL

i had people refuse me medical treatment years ago when i was a kid as i could not pay that has seriously affected my health years later when i was older so what am i going to do about that??

i really do not know................ i do the best i can with what i got it is an unfair world


GET OVER IT................lol


seems to me you are doing much better than me with your unfair unjust situation


CARE TO TRADE...............................LOL i think if you heard my situation you would not want to............lol


sincerely michael

PQpeace

Thanks for your input..
case closed..
I am going to spend the 5k on ??
Larry

nucklehead

Larry,wanna buy some Murcury dimes?

cherrypickincoin

In this industry, a person's word is their reputation. I don't know how you've been so patient with $5,000. I always find something to spend money on, lol. One thing I can't stand is people that sit around all day yankin' your chain. If they decided not to sell it, it's better to make a fool of themself once by saying so rather than delaying it for six weeks and saying it over and over again. This reminds me of the Long Beach show earlier this month. I was in the market for some indian gold and was browsing through some inventory at the back of the bourse and noticed some kids asking the dealer about the incuse designs. The dealer said "Do you plan to buy anything?" to the two kids just as I was looking over at one of his $5 Indians. I immediately walked away from the table.

Dealers that are so stuck on themselves that they won't take the time to spread the knowledge throughout the community or won't keep their word are a detriment to this hobby. I commend all of you honest dealers out there that continue to help others.

At the end of the day, every person must look in the mirror and ask themselves what they've done for the world. Are you going to be the one that just explained the history of a coin to a child which could forever spark his/her interest forever, or are you going to be the jerk that sees only $$$ signs. Each of us can make the call.

oreville

Larry: I have dealt with Jay P. for quite a few years off and on depending on when he was able to dig up the coin(s) nobody else could seem to find. I have never had the problem with him that you mentioned.

I wonder if he had the coin you spoke of on memo with someone else and is having the same problem retrieving it from them to ship to you?

Jay kill a deal because the coin when up a few thousand bucks after a verbal deal is made with a new customer? Does not sound like him? He would rather let you make the few thousand bucks and have you as a customer for life.

For him not to be responsive to you does seem odd to me. Must be something else going on......

cosmicdebris

Is 2 points (from an AU53 to an AU55) really worth 5K?

MadMonk

I was going to ask the same thing good ole Cosmic Debris just did. Also, how many times does someone have to poke you in the eye before you back up?

Gilbert

Wasn't JP invovled in the initial effort to "unload" the '33 Eagle before the USSS jumped in with both feet?

Larry,
Sorry to hear of the difficulties; I guess you can thank your stars that nothing (literally) has changed hands.

And to the others, there could very well be a noticeable difference between the AU53 and AU55, particularly if say the 53 was generous and the 55 was conservative. We are talking about a key date, an "S" minted coin - but I won't venture to say if there is a $5K difference though. Only a side by side comparison by the person who desires the coin will determine that.

LanLord

My thoughts are like many of those already expressed, sounds like someone to avoid from now on.

On the other hand about verbal contracts? Is there any way to track the fact that he did credit checks on you? If so, wouldn't that indicate an intent to do business? Might need to check that out.

RKKay

Lucy, if "Done Deal" had been spoken, this problem would have been alleviated.

Oops. Just saw "case closed," so edited to delete lengthy diatribe. In any event, as I have learned, it's probably best to chalk this one up to a learning experience and move on.

wallstreetman

If it were me, I would pay him a visit!

ohbaby

No matter how big. No matter how impressive the inventory. No matter how significant the reputation. Coin dealers are out to squeeze the last dime out of every transaction.

JP knows exactly what he is doing. To pretend he doesn't know you after all that has been said and done is the height of his deception. Can he really be THAT "good" when he behaves this way? Obviously a man who could care less about his reputation. Even if he stepped forward and said I changed my mind, too bad, would be more honorable than his weasel ways.

Interesting that no dealers have commented on this.

poptopsRus

Ok you asked for a dealers opinion. When I make a deal it is done, even if I lose out. I would much rather make a customer happy and get repeat business than try to score on just one coin.
In this situation I would not deal with this person again. This coin can be had at major shows.

ScarsdaleCoin

In the coin business your word is your bond....I dont like to make comment on hearing only 1 side of the story....

PQpeace

Hi Jon,
my word is fact !
I have nothing to gain by slamming this guy..
case closed..let's end this thing

LucyBop

<< <i>Coin dealers are out to squeeze the last dime >>



No, there are a few Hepcats out there that really are on a collectors side.......

nucklehead

Larry,I hope you know I was just having a little fun with you in my last post.I meant it as just an inside joke between you and I.

rays

Let me put it this way:
The scenario described is not inconsistent with my own, and others I have heard of, experience with this dealer. I would move on to greener pastures.

lava

who the heck is Jay Pimpin

toothpuller

On May 9th I inquired by email about a coin that was for sale on his website. Still haven't received a response and the coin still appears in his inventory.

lava

who the heck is Jay Pimpin