Is it ethically "ok" to cherrypick dealers?

copperfan

Im wondering what some of you think on this subject.

ksteelheader

Yes

Robb

Of course. That's the whole idea of "cherrypicking".

Wolf359

Every collector "cherrypicks" and do so the dealers they are buying from.

STONE

NO, save them for me

…

i dont really care because im going to keep doing it either way but i'll answer the question. YES! The dealer is entirely responsible for knowing what he is selling, period. That includes counterfeits, problem coins, and of course, die varieties. If he neglects to look over his VAMs, which is entirely his decision, then its up for grabs in my opinion.

RunnersDad

Of course it is. Dealers of anything are generally operating under the premise that they have a unique knowledge of the items they are selling. If they miss or overlook something it is the fault of the dealer and not the individual that discovers this prize.

PerryHall

copperfan---How would you define cherrypick?

TexasNationals

Yes, they are dealers, we are customers. In most lines of business, especially sales, the seller should know more about their product that the purchaser. My 2 cents.

ricko

Of course. Cheers, RickO

lope208

What?

Of course!

copperfan

My definition of cherrypicking is studying a series or multiple series and hunting these down unattributed. I dont really see it as a matter of what price I buy and sell at.

If Im looking at proof sets and come across 1-2 1956 T1 Frankie's (you can use any coin you like here), Ill buy them right up at the asked price. I knew what to look for and I took the time.

rgCoinGuy

Looks like you need to go to the GECKO SCHOOL OF CONTROVERSY if you are trying to encite an ethical debate.

21Walker

Is a pig's pri?k pork.............Rick

Unknown

This content has been removed.

Blackhawk

Why not? The dealer has priced his item with a margin that allows him to make money on it at his asking price. It's not like you're lowballing when buying coins from a little old lady that needs money for her heart medicine prescription or something - now that would be questionable ethics.

SUMORADA

Isn't that what they are there for........

19Lyds

If a dealer really cared about the onesey-twosey cherrypicks that do occur, then he/she would be sure to examine his inventory with that in mind. I believe that to be a big constraint to most dealers as they must move a volume of business to realize any profits. Over the counter sales represent only a small fraction of their overall business so cherry picking them is no biggie!

Besides, if I do cherrypick a dealer I sure as heck don't go back and state what occurred because as soon as I do then I will most likely lose all "browsing" priviledges!

I do remember one dealer in Boulder Colorado that refused to let me look through his IKE's because he felt I knew way more than he did about the coins!

PerryHall

No matter how big the rip, just remember that the dealer bought that coin for far less than what he is charging you.

morgansforever

Is it okay for a dealer to purchase 4 $20 Saints for $400, from an unemployed , mother of two?

Then laugh, as she is getting into her car. Left a bad taste in my mouth.

Cherry what you can, to each his own.

Scott

MICHAELDIXON

I invite collectors to "cherrypick" what I have at shows, as I do not check for VAMs or coins out of the Cherry Picker's Guide. As for being ethical, I say YES. If the dealer cared, he would take the time to do the research and sell the coins at the "cherry picked" price.

Bear

If it is OK for some dealers to pay a widow

30 dollars for a 20 dollar gold piece and 3X

for silver coinage, then it must be

OK to cherry pick them.

copperfan

<<No matter how big the rip, just remember that the dealer bought that coin for far less than what he is charging you. >>


Why should I remember the dealer (other than for future cherrypicks)? He priced the coin according to what he thought it was worth.

marmac

most of the time yes!!

howards

Ethically okay?

It's required!

coinkat

Is it ethically okay for a dealer to sell coins at prices that do not reflect the state of preservation of the coin?

mrpotatoheadd

<< <i>My definition of cherrypicking is studying a series or multiple series and hunting these down unattributed. >>

I don't think there's anything wrong with doing that. The flip side is that a dealer is under no obligation to allow you to cherrypick his inventory if he chooses not to, so no whining when you're told you're not welcome at his shop.

One more thing- I don't think taking advantage of an obvious mistake (made by either party, buyer or seller) is cherrypicking.

options26

Watched a dealer buy an 89-CC morgan for $600 after explain to the guy how common they were now a days and that he had 6 in the safe he bought this week. That same day I cherried a hot lips from them in as close to AU as they come. Just as I was walking out after paying I needed to mention what I did. He got pissed and I said thats no where near the rip you got, but the difference was he was stealing IMO.

pursuitofliberty

<< My definition of cherrypicking is studying a series or multiple series and hunting these down unattributed. >>

I don't think there's anything wrong with doing that. The flip side is that a dealer is under no obligation to allow you to cherrypick his inventory if he chooses not to, so no whining when you're told you're not welcome at his shop.

One more thing- I don't think taking advantage of an obvious mistake (made by either party, buyer or seller) is cherrypicking.



exactly

copperfan

<<I don't think there's anything wrong with doing that. The flip side is that a dealer is under no obligation to allow you to cherrypick his inventory if he chooses not to, so no whining when you're told you're not welcome at his shop.

One more thing- I don't think taking advantage of an obvious mistake (made by either party, buyer or seller) is cherrypicking.>>



I agree. If I am told no cherrypicking, Im ok with that. I move on.

I dont think searching for and finding a variety and buying it for an unattributed price is taking advantage of the dealer what so ever.

WoodenJefferson

If you've put in the time, it's your dime.

It's a moral imperative.

It's all out there for sale, if you pick a winner, consider it time well spent, as in searching and studying.

busco69

Yes and it is also all right for a dealer to cherry pick a collector.

coinkat

Hypothetical... please humor me with the example...

Dealer X has a nice 1923 Monroe commem... grades it 64 and sells it at 64 money. The collector that buys the coin believes it is easily a 65, buys the coin, sends it off to PCGS and PCGS grades it a 65. Did the collector cherrypick the dealer?

rjsriv

knowledge is power- read my avatar

copperfan

I dont consider buying undergraded coins and selling them after they upgrade cherrypicking. Thats just knowing what a P.Q> coin looks like.


I consider buying say a 1888 IHC in au and it being an 1888/7. Thats a cherrypick.

Or looking through 20 Ikes and coming across a fev and buying the whole lot. Thats a cherrypick.


Im sure everyone has their own cherrypick defintions, but I thik its finding an unattributed variety.

timcoin

In my own mind, I believe I cherrypicked every coin in my collection. Not for variety, but appeal

NHSBaseball

<< <i>If a dealer really cared about the onesey-twosey cherrypicks that do occur, then he/she would be sure to examine his inventory with that in mind. I believe that to be a big constraint to most dealers as they must move a volume of business to realize any profits. Over the counter sales represent only a small fraction of their overall business so cherry picking them is no biggie!

Besides, if I do cherrypick a dealer I sure as heck don't go back and state what occurred because as soon as I do then I will most likely lose all "browsing" priviledges!

I do remember one dealer in Boulder Colorado that refused to let me look through his IKE's because he felt I knew way more than he did about the coins! >>



This always cracks me up- he won't let you buy the coins for fear of being picked, but if someone with less knowledge gets lucky he'll sell him the coin. Good grief. It is up to the dealer to set a price on his coins that allows him to make a profit. If he has done so and is unwilling to take the time to attribute his own coins, then why should he care if you buy from him?

DoubleEagle59

Absolutely....I do it all the time.

And dealers cherrypick each other too!

charley

Dixon is the bestest, biggest target in the WHOLE WIDE WORLD. Its' like shaking the whole darn ripe cherry tree. With Respect, John Curlis

jfoot13

Ethical ???? I consider it a sport... when you can cherry a dealer in his speciality you deserve a " YOU SUCK " award and earned the right to wave it proudly.... If your in a shop and a collection comes in and the dealer let's you go through it because he trusts you and pull out a couple coins indicating they are common offer common money and he accepts without checking them on your word.. them you suck in a different way..

It's all about doing the right thing...