Have you ever found the same unique coin in the inventory of two dealers at the same time?

RYK · January 29, 2005 9:56AM

I just did. What do you make of it? Is this common? Is it ethical?

DNADave · January 29, 2005 9:58AM

I'd give the benefit of the doubt first. One bought it from the other and it just hasn't been removed from the first owner's site yet..... could happen.

ER · January 29, 2005 10:01AM

<< <i>I just did. What do you make of it? Is this common? Is it ethical? >>

Two dealers, who are partners, advertising the same coin.

Longacre · January 29, 2005 10:24AM

Can you play one dealer off of the other?

RYK · January 29, 2005 10:28AM

Actually, the coin is priced slightly differently between the two. I was thinking of buying from one and selling to the other.

badger · January 29, 2005 10:29AM

RYK,

You are a genious.

Badger

fcloud · January 29, 2005 10:33AM

I had purchased a coin on ebay. I found my coin on a dealer's website about a year later. The photo had the cert number showing, so I know it was the same coin (mine was a common coin though). I think they just forget to remove stuff from the websites.

RYK · January 29, 2005 10:44AM

Or is the coin owned by party "C" and being brokered by dealers "A" and "B"? Maybe "A" and "B" don't even know that they are BOTH selling the coin.

tradedollarnut · January 29, 2005 11:08AM

Not as bad as once finding a unique coin that I had safely tucked away in the safe deposit box listed as for sale in a dealer's inventory!

MrEureka · January 29, 2005 11:12AM

Not as bad as once finding a unique coin that I had safely tucked away in the safe deposit box listed as for sale in a dealer's inventory!

Just ask Laura to pull the coin from her site. It's not like anyone else will pay THAT much.

tradedollarnut · January 29, 2005 11:14AM

RYK · January 30, 2005 4:32AM

Is this commonplace? Acceptable?

BTW, both dealers are board members.

alergar · January 30, 2005 4:36AM

<< Have you ever found the same unique coin in the inventory of two dealers at the same time? >>

No, but I once saw a coin in my collection up for sale by smoeone else on the Bay of E. I contacted ebay and the auction was pulled. Don't know what eBay did to the seller, probably nothing.

TUMUSS · January 30, 2005 4:43AM

It certainly redefines the term "unique"

RYK · January 30, 2005 5:34AM

It certainly redefines the term "unique"

The coin is a unique, pedigreed coin--if it were affordable (which it is not), for fun, I might purchase it from both and see what happens.

jdimmick · January 30, 2005 5:58AM

I do know this from attending the ANA show and the FUN show that it is not uncommon for two dealers to go together to buy a higher dollar coin for re-sale purposes. It cuts down on the out-of-pocket expense for each participannt then they split the profits when sold. If so, I imagine that it is being listed by both parties on whatever particular means they chose to offer for sale. This is usually on high end 5 figure and 6 figure coins, but it happens quite regularly from what I have seen and herd.

ColonialCoinUnion · January 30, 2005 7:33AM

Its a common practice in my experience. Though for best effect, it seems to me that it would work better when practices by two delaers who have different clienteles and 'viewing audiences'.

If you and your dealer-buddy split a coin, list it on each of your sites and then have the same customers view both not much is being accomplished.

coinguy1 · January 30, 2005 7:45AM

Robert, here's a current, real-life example for you:

I own a very low population, five figure coin which I will be consigning to another dealer, so that he can offer it for sale to parties I might not know or do business with. I am considering leaving it up on my website while he has possession of it. Conceivably, someone could see it on my website at the same time the other dealer is offering it for sale.

Am I making a mistake by leaving it up on my website? That was not a rhetorical question - I have mixed feelings about what I should do.

parkave · January 30, 2005 7:54AM

The best way to find out is to ask the dealer(s) directly. Rather than speculate on a variety of scenerios the direct approach is usually the best. Just MHO

RYK · January 30, 2005 9:03AM

I am glad that Mark and Bob (both dealers) have chosen to reply. Frankly, I am not sure that there is any problem with it. It is the first time that I have knowingly encountered it. I really wanted to know if this is customary. CCU and jdimmick also confirmed that it is, from his perspective as a high-end collector. It does indeed make sense for an expensive coin to be purchased by more than one party for the purpose of resale. It spreads the risk, reduces the individual capital outlay, and allows multiple clienteles access to it.

The best way to find out is to ask the dealer(s) directly. Rather than speculate on a variety of scenerios the direct approach is usually the best.

Bob, I agree. Were it not priced more than $100,000 more than I could afford, I would have certainly inquired on it.

RGL · January 30, 2005 9:06AM

No, but I've found the same "unique" (1/0 based on PCGS pop report) coins listed in more than one Registry set ...

clw54 · January 30, 2005 9:28AM

<< <i>Robert, here's a current, real-life example for you:

I own a very low population, five figure coin which I will be consigning to another dealer, so that he can offer it for sale to parties I might not know or do business with. I am considering leaving it up on my website while he has possession of it. Conceivably, someone could see it on my website at the same time the other dealer is offering it for sale.

Am I making a mistake by leaving it up on my website? That was not a rhetorical question - I have mixed feelings about what I should do. >>

As long as the coin can be bought from either website, what's wrong with it? Nothing is being misrepresented.

Have you ever found the same unique coin in the inventory of two dealers at the same time?

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