Ethics 101

notwilight

I bought a large lot of MS68 Satin Finish coins from a dealer and I'm selling them on eBay. I just found 3 MS69s mixed in. Should I tell him? --Jerry

TwoSides2aCoin

<< <i>I bought a large lot of MS68 Satin Finish coins from a dealer and I'm selling them on eBay. I just found 3 MS69s mixed in. Should I tell him? --Jerry >>




Only after you made a large profit and conquer the world. Then, like salt... rub it in !

Edit to insert SARCASM

SilverEagles92

Er... No way?

ColonialCoinUnion

Of course you should tell him.

lordmarcovan

I probably would.

FLBuffaloHunter

Drop them in the Salvation Army bucket and share your good fortune

LALASD4

You just did, right?

Barndog

<< <i>Of course you should tell him. >>



no doubt about it.

ricko

I assume you meant 'slabbed'.. correct? If so, ethics would demand you advise the dealer of the issue. (I have been ethics officer in several businesses) He may very well be aware of it... if so, he will thank you for your ethical behaviour and move on. If not, the two of you will decide on a course of action - financial recompense, return or share of realized profit from sale. Cheers, RickO

notwilight

<< <i>You just did, right? >>



Yes, he reads these forums so if anyone thought I was considering not telling him, he'll know soon enough.

Where's andrew with the "thanks for the present" post?

notwilight

<< <i>I assume you meant 'slabbed'.. correct? If so, ethics would demand you advise the dealer of the issue. (I have been ethics officer in several businesses) He may very well be aware of it... if so, he will thank you for your ethical behaviour and move on. If not, the two of you will decide on a course of action - financial recompense, return or share of realized profit from sale. Cheers, RickO >>



Yes, I sell pcgs slabbed coins almost exclusively. I'll return them and he'll replace them. --Jerry

RichieURich

<< <i>

<< <i>I assume you meant 'slabbed'.. correct? If so, ethics would demand you advise the dealer of the issue. (I have been ethics officer in several businesses) He may very well be aware of it... if so, he will thank you for your ethical behaviour and move on. If not, the two of you will decide on a course of action - financial recompense, return or share of realized profit from sale. Cheers, RickO >>



Yes, I sell pcgs slabbed coins almost exclusively. I'll return them and he'll replace them. --Jerry >>



Or, maybe you can just pay the difference in value and you guys don't have to ship stuff back and forth. You'll both net more that way.

mrpotatoheadd

<< <i>I bought a large lot of MS68 Satin Finish coins from a dealer and I'm selling them on eBay. I just found 3 MS69s mixed in. Should I tell him? --Jerry >>

If the coins you bought were described by the seller as "MS68 Satin Finish coins", I'd think you should inform the seller. MS69s aren't MS68s, and do not fit the description of the coins being sold. The seller could either repalce the 3 MS69s with MS68s or refund you the difference.

edited to add... looks like the issue has already been decided upon. I guess I shouldn't take so long to type out a reply.

holeinone1972

I say give him a negative, for selling you 68's and shipping you 69's.

I can't stand a bait and switch artist.

Cladiator

<< <i>I bought a large lot of MS68 Satin Finish coins from a dealer and I'm selling them on eBay. I just found 3 MS69s mixed in. Should I tell him? --Jerry >>

Easy as pie, yes.

garsmith

Gratefully thank them for the Christmas bonus

dorkbar

Why does the question need to be asked?

mgoodm3

You should NEG him for giving you the wrong coins!

Cladiator

<< <i>Why does the question need to be asked? >>

Kinda sad aint it?

doh

Yes, tell him. You'll feel better about yourself and if you've asked this particular question then you already know the answer....

fc

if it was me i would have assumed he threw in the 69s because
we was out of 68s...

it sounds like brand new modern stuff directly from the mint...
since when does plastic count? you ordered a large lot of coins
and they arrived. 68-69 what is the difference? we are talking
coins right? not plastic...

oh, we are talking plastic... sigh

notwilight

If anybody's haveing second thoughts perform this test: if the numbers had been reversed would you tell him? --Jerry

notwilight

<< <i>if it was me i would have assumed he threw in the 69s because we was out of 68s... it sounds like brand new modern stuff directly from the mint... since when does plastic count? you ordered a large lot of coins and they arrived. 68-69 what is the difference? we are talking coins right? not plastic... oh, we are talking plastic... sigh >>



fc, Your post implies that PCGS's opinion is not worth anything. I, and my customers, respectfully disagree. --jerry

fc

If anybody's haveing second thoughts perform this test: if the numbers had been reversed would you tell him?

probably not. according to the rules of PLASTIC only the 70s have
any real meaning or value.

sigh.

fc

double post.

and yes with moderns that were minted a few months or years ago
plastic has very little meaning to me. 68-69 what is the difference?

a 70 would be neat tho due to the stupid money you can get
for them.

crack out those 70s and i am sure they will all come back 70s. lol.

I, and my customers, respectfully disagree.

ah heck, the dealers like the $$$ and the customers will need a few
more years to realize no plastic will save them in the after market
when the bubble bursts.

ahooka454

yes without question. therye his coins, would you want him to tell you 3 ms69 coins were sent? think about it

EricSan

You betcha! In March of 2007 I ordered an MS69 2006-w $50 plat from a large dealer who promptly sent me a $100 MS69 instead

I had him on the phone within 5 minutes, he was VERY appreciative

Now, I only collect the $50s and have no interest in the $100s, but this was beside the point. Its not what I ordered and he'd be stuck.

Eric

Cladiator

Hey notwilight,

If you want the answer to your question look here ...LINK...

BlindedByEgo

Of course... Ask him what you should do; he will probably just tell you to keep 'em.

TwoSides2aCoin

Here is a true story involving my company.

During a terrible hailstorm season one year our company inadvertently put a roof on the wrong house. The people weren't even home. By the time they'd gotten home, my guys already were finished tearing off one and installed a lovely new roof. Even better quality materials . The place was clean as a whistle when the homeowner got home.

We realized the mix-up after the job was already started due to the order having the wrong address to the vendor delivering the materials... but it was our screw up.
Well it didn't take a rocket scientist to realize we screwed ourselves.
In order to try and smoothe over the situation, we sent out a warranty card, a congratulatory letter saying these folks "Won" a new roof, due to our incompetence , but it came with a full warranty.

Guess who we never heard from ? We were thankful we didn't get sued. Shouldn't I be paid for my time, material labor ? Sure I should. Do those people owe me ? Not really. Ethics are about doing what is right.

Your conscience tells you when the lady gives you back too much change that you shouldn't keep it.... but you do. Who is wrong ? Who is right ?

On a side note: Their old roof was junk anyway.. so they got about five grand from me and my brothers if they had an insurance claim...
It's a wonder we're still in business.

Okay, back to coins...

Have a great day

19Lyds

Without reading the entire post Yes!

etexmike

I would tell him about the order.

-------------

etexmike

wondercoin

I got a hand delivery last week with hundreds of relatively cheap coins and by accident about $100,000.00+ worth of (potentially untraceable) gold coins. I even had to sign off for the entire delivery- not a mention of the $100,000.00 in gold or even a single gold coin for that matter.

Boy were they happy when I delivered back that $100,000.00 in "bullion"!

Wondercoin

PerryHall

<< <i>if it was me i would have assumed he threw in the 69s because
we was out of 68s... >>



That's what I thought. I can't imagine there's much of a price difference between a 68 and a 69.

rec78

If there is not much of a premium i would agree that he probably just sent them in place of 68's to make a sale. But you should let him know and find out.

By the way TwoSides2aCoin+ Great story - My neighbor just ordered a new roof i hope it is your company that is putting it on for him as my roof needs replacing also.

GoldenEyeNumismatics

<< <i>if it was me i would have assumed he threw in the 69s because
we was out of 68s...

it sounds like brand new modern stuff directly from the mint...
since when does plastic count? you ordered a large lot of coins
and they arrived. 68-69 what is the difference? we are talking
coins right? not plastic...

oh, we are talking plastic... sigh >>



Except for the fact that people pay more for the 69. Just because there isn't too much difference doesn't mean there are people out there that won't pay more for a 69.

notwilight

If I speculated so much about a series I don't collect it wouldn't take long for classic collectors to jump all over me. It seems you think that 69's are worthless because they aren't 70s. There are no 70s of this coin (2007-P 50c SF). There are 114 MS69s and no 70s so this is a top pop coin. And BTW, I noticed it was a superb looking coin about the time I noticed it was a 69. Since I don't often look at the label when I'm pulling coins out af a box of 20 of the same it is likely I noticed the coin before I noticed the grade. --Jerry

PS the coins have already been returned.

jdillane

<< <i>I assume you meant 'slabbed'.. correct? If so, ethics would demand you advise the dealer of the issue. (I have been ethics officer in several businesses) He may very well be aware of it... if so, he will thank you for your ethical behaviour and move on. If not, the two of you will decide on a course of action - financial recompense, return or share of realized profit from sale. Cheers, RickO >>





But would add that FLBuffaloHunter's suggestion has merit too, especially if the parties agree. That would be an exceptional coin drop.