Selling coins?? For Profit??

ashmore

I've noticed significant discussion about what people are charging for coins. IMO, one may sell the coins for ANY price he wants. In fact, he may give them away for nothing or charge triple. It comes down to a bit of ethics. I think it is reasonable for a DEALER to make a consumer aware of the market and then give him the option of buying at his price.

I have a problem only when a DEALER is buying coins from the PUBLIC and offers what would be considered a rip for them, trying to convince the PUBLIC that the coins are worthless. I think again, it is a DEALER's ethical responsibility to let a seller know what the true market is and then make an offer to buy based on that number. Then, the person has the option of accepting the offer. If it is less than 50% of current bid levels, then I would say that is certainly a gouge, but at least the seller has been advised.

I can personally make ends meet buying at about 20% back of bid and selling at or just over bid. I deal in coins that can generally be bought within those parameters (when the public is involved).

There is always the key coin or the exception to the rule, where we make the difference between an average month and a good month, but they are rare deals.

I hope this is the view of the majority of folks on this forum. I will say this, these guidelines are for DEALERS dealing with the PUBLIC. If someone decides to call himself a DEALER of coins, then I say the rules change a bit. I think DEALERs are "fair game". It is a dealers responsibility to know his business and if someone buys a coin from a dealer at what would be considered a rip, so be it.

Just so you know, I am a full-time DEALER....

Ash Harrison

JrGMan2004

I don't think the arguement was about the price of the coin, but the coin itself... Many people had voiced that the coin in question was Artifically Toned, and the fact that it had been in an ANACS holder and net graded as AT... and then the fact that this was not disclosed in the auction, along with a buy-back promise if the coin got into a PCGS or NGC holder at MS65 or better... some probally felt it was a scam deal... trying to draw in a buyer with the buy-back guarentee thinking they can make a quick profit, and then them posibly being left with an ATed, BBed coin that he just lost $7k on... I will refrain from voicing my personal opinions, as I do not want to be threatened.........

Russ

<< <i>IMO, one may sell the coins for ANY price he wants. In fact, he may give them away for nothing or charge triple. >>



I completely agree. But then that's not really the point of the recent discussions, (even though some have apparently decided it is).

Russ, NCNE

ashmore

I think it is a DEALERs responsibility to disclose any problem with a coin. AT is a problem.

It's a tough one sometimes, because most dealers can't reliably tell what is AT and what is not.

Steve27

" I think it is a DEALERs responsibility to disclose any problem with a coin. "

This statement makes me laugh. Roughly every other week, I go to a coin show where several dealers sell harshly cleaned coins as if they were pristine examples, and they never mention that fact to any of their customers.

RotatedRainbows

<< <i>

<< <i>IMO, one may sell the coins for ANY price he wants. In fact, he may give them away for nothing or charge triple. >>



I completely agree. But then that's not really the point of the recent discussions, (even though some have apparently decided it is).

Russ, NCNE >>



Isn't that the best way to avoid addressing the real issue by changing the subject to another controversial issue?

ashmore

1 of several things is true:

1. The dealer is trying to cover his own mistake of missing the cleaning when he bought it.
2. The dealer is buying cheap cleaned coins and deceiving the public.
3. The dealer is unaware of the problem at all, and should get an education.

In any case, I hope that in my own plight, I can teach enough of the public that is interested what cleaning looks like, and help stop the purchase of these coins at anything but the reduced price they should bring.

Ash Harrison (dealer)