Hypothetical: Layaway coin with a dealer

mr3holesinone

I recently paid off a major coin purchase on which I had to make payments for several months to a major dealer. Late in the payment schedule there was a period where they did not charge me for a two-week period like they were supposed to. Naturally, I started thinking what could have happened; why don't they want my money, lol.

So here it is, What do you think the chances are that a dealer could be receiving payments from one client for a layaway plan and then go ahead and sell the coin to a second client?

The coin is one of a kind for it's grade and could NOT be replaced by the dealer with a similar coin.

Do you think the dealer would refund the payments and say the coin was lost?
Not make a refund and then say coin was lost in the mail?


This is definitely a hypothetical as I do have the coin. I'm still trying to figure out how to post pics here...and take a pic that does the coin justice....work in progress.

AACoinCo

I perform layaways for my customers on a regular basis. It would be very unethical to do what you have said and as you say you would know. Most professional dealers are above board and would not chance their reputations for a few dollars. I know i would not!

LincolnCentMan

Do you find that you're always looking over your sholder to see if anyone is following you? Do you always wipe your grocery cart handel before you use the cart. Do you make it a point not to step on cracks in on sidewalks. Have you ever driven around the block before parking at home to make sure no one has followed you? Did you assume that you were in trouble when you were called to the principal's office? Do you think the government has a file of information on you? Do you think you're always days away from being fired? Are you concerned about your upcoming bad luck after you break a mirror?

If you answered yes to two or more of the above questions, odds are that you're just paranoid about the situation.

-David

mr3holesinone

lmao, not exactly the responses I was looking for.

Yes, I know it would be unethical for someone to do that. The dealer I worked with is a nationally known dealer sometimes mentioned on the board but I don't think he is on here.

Sorry Dave, only answered Yes to one question, lol. The amount of the transaction was enough that I should have bought a new car instead of the coin. The majority of my purchases are usually in the $200 to $800 range. The amount was about 25 times higher than any other coin I've ever bought so you could say I was a little nervous until I had it in my hand.

LincolnCentMan

Sorry Dave, only answered Yes to one question, lol.

The amount was about 25 times higher than any other coin I've ever bought so you could say I was a little nervous until I had it in my hand.

I recently stepped WAY out on a limb and bought a set of coins off of ebay in the 5-10k range. Thing is, I didnt have the money so I put it on the credit card. I knew of very well known and highly respected dealer that was buying the set well over what I paid for it. After I paid for the coin via paypal, I asked the seller to let me know when he put the coins in the mail. He never replied. After a couple of days, I started getting antsey. Then the coins arived. I looked at the coins that night and the next day, they went in the mail to the dealer. Even though I knew for certain the guy was 1st class and 110% good for the money, you cant help but get a little nervous when you put that kind of coin (pun intended) in the mail and wait for a check. ...the check came yesterday. In about five minutes, I'm going to step out the door and head to the Houston show with the proceeds from that transaction to see if I cant find something for my coin collection.

Short of the long, we all get parinoid when we buy coins outside our comfort zone.

-David

Edited to add: It would be awesome if you could post a pic of your newly acquired coin once it gets to you.