Why are private sales called "treaties"?

Longacre · October 20, 2004 10:17PM

Does anyone know why when a coin is sold between two parties (not at auction), it is a called a "sale by private treaty"? I don't know why it annoys me, but I would think you would just call it a private sale or a sale by private contract. I have heard the term treaty used in other contexts (like a tax treaty, a peace treaty), but I don't know why it is used so often in the numismatic world. Any thoughts?

RYK · October 20, 2004 11:09PM

I think it makes the transaction sound more sophisticated or impressive. I would have to agree with you.

MrEureka · October 20, 2004 11:25PM

I have heard the term treaty used in other contexts (like a tax treaty, a peace treaty), but I don't know why it is used so often in the numismatic world. Any thoughts?

Maybe coin negotiations are more like war than you might imagine?

Bubblehead · October 21, 2004 12:29AM

Hmmm?
Now were two people negotiating L&C Pouch sets, I could see "treaty" in there.....

laurentyvan · October 21, 2004 12:49AM

Main Entry: trea·ty
Pronunciation: 'trE-tE
Function: noun
Inflected Form(s): plural treaties
Etymology: Middle English tretee, from Middle French traité, from Medieval Latin tractatus, from Latin, handling, treatment, from tractare to treat, handle
1 : the action of treating and especially of negotiating
2 a : an agreement or arrangement made by negotiation: (1) : PRIVATE TREATY (2) : a contract in writing between two or more political authorities (as states or sovereigns) formally signed by representatives duly authorized and usually ratified by the lawmaking authority of the state b : a document in which such a contract is set down

1 : the action of treating and especially of negotiating Perhaps this meaning makes the most sense...

It also works as a euphamism-perhaps "private deal" doesn't have that certain ring to it, certainly RYK's comment : I think it makes the transaction sound more sophisticated or impressive. is a valid one.

Conder101 · October 21, 2004 4:04AM

I would think it would have to do ith the negotiations back and forth. possibly with payments to be made at later times, or items offered and taken as a partial trade etc. It isn't just a "I want X. OK here you go." deal.