Greed..................

keets

Why is there so much greed in Numismatics??

Al H.

MillerJW

Why is there so much greed in monopoly???

Bear

It is not limited to numismatics. Greed seems to be

endemic in all financial systems, from Capitalism to

Communism. I have been pleasantly amazed, by the

amount of good will and decency shown by Forum

members to one another. Perhaps there is indeed hope

for us all.

coindeuce

Anyone that I have ever defined as greedy had an obsessive compulsion rather than a means to an end.

JRocco

It sure is rampant and does take a lot of the fun out of what I enjoy so much.

Bochiman

Practically any hobby, where there are gradients, and knowledge is power, will have greed
And, in this case, it has been allowed to prosper because people who talk about it get attacked.

If someone started calling out the coin doctors and greedy dealers, and outlining why they are greedy, that person would likely be sued and ostracized by the part of the hobby that controls a large portion of the supply of coins.

It's a sad "old boys" network (yes, I know some are women). Ebay, for good or bad, removed a lot of one type of greed (there is still the other greed of ripping folks off at times though ) because dealers had to compete with a larger network of "dealers" (sellers of coins).

Raybo

I'm not greedy, but if I do happen to go that way and fail..........will someone bail me out?


Ray

FishyOne

"Why is there so much greed in Numismatics??"


Because of The Seven Deadly Sins, it's the most fun!

Cladiator

fc

probably because there are so many people trying to make a living
off of this hobby as well as collectors trying to make money.

as coins rose in price, people saw an opportunity to make money
and it brought in those who see it that way.

find a hobby where most items are cheap and you will see greedy
people take no interest in it.

OneCent

I agree that GREED is rampant in this hobby. Many, Many greedy little bastidges in numismatics including
some that post on this forum. It frankly can be sickening at times. Of course, they would tell you that it is pure
capitalism and no one is forcing anyone to buy. While this has some truth to it, in more than a few cases it
is simply taking advantage of the uninformed, uniniated and unknowledgeable.

Unknown

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nicetoning42107

As a stake sticks fast between two pieces of wood, so does greed stick fast amongst among selling and buying.

fc

maybe current coin collectors learned it from the dealers in the early
80s? heck, the pros were writing books left and right how to make
money in this "hobby".

these same people are looked at today as "gods and worshipped".
they made good money dealing in coins and people emulate them.

jmcu12

Agreed that greed is rampant, but where does profit turn into greed?

I dont think I have ever seen a concensus (spelling?) on what that definition is...

jimmymac

GREED - one of the 7 deadly sins is the root of several problems now infesting this world!!!

savoyspecial

i dont really see the greed......i think a few reasons for this are:

1. i'm blessed to live in an area with some really honest B&M shops within a short drive
2. as a general rule i dont collect high enough up on the financial ladder to really see the greed ($20-$50 coins are the norm for me)
3. i work at a used car dealership (no lie) so by comparison........

19Lyds

Why do you think there is so much greed?

coolest

In our culture the more greedy you are the more "successful" you are considered, and the more envied and idolized by others you will be. All American business models are based upon continuous, unsustainable, "growth". Yes! Yes! I know I'm a loser.

pennyannie

I was looking for a new hobby 5 or 7 years ago. I thought coins was one of the last honest hobbies. I looked at the ANA site and saw a dealer code of ethics and was impressed. I was niave to say the least. Anytime money is involved you should know better. I originally drew the line at a $100 dollar coins. Now i doubt if i have a 100 dollar coin. You got to look around hard to find a good circle to play in. I found that. There is good and bad in every hobby. I love collecting coins, i hate the prices. I hope the economy puts a good hurt on this industry, and turn it back to collectors but i doubt it will happen. There is about 10 coins i would love to have at 50 percent off todays prices. I will never own them without a price drop.

This coin hobby has more good than bad overall.

pheh

<< <i>Why is there so much greed in Numismatics?? >>



Inquisitive answer: Define greed. Be more specific.

Jaded answer: Because there is so much greed in the world. Get used to it and come to terms with your own.

Windbag answer: Because both people sitting down at the table across from each other are trying to get the most they can for the least they can get away with letting go of. Every free marketplace is like this, there are no exceptions. Personally, I think a lot of people would feel much better about their passion for collecting if they came to grips with the fact that it is a two way street and you can walk away from any deal before you shake hands on and still feel good about yourself and the person you attempted to make a deal with.

BlindedByEgo

One man's fish is another man's poisson.

Not a devotee of moral relativism per se am I, but this question requires specificity. Is it based upon a singular event or is it a gross generalisation?

While we are at it, did you walk on the sunny side of the street today?

Connecticoin

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OneCent

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<< <i> >>



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TwoSides2aCoin

Greed is not in numismatics. That's an inherent quality of humans, not of coins.

Quarternut

Because there is so much money involved?....

QN

lasvegasteddy

let me be the first to attest

that al (keets) is not a greedy guy...this stems from help with a "giveaway" i was doing...pure class and not one cent was to be accepted

although some greedy are tossed in this mix...i adore those who are not...keeps me a happy collector

as to why is there so much...


i was taught perception is the key...if i look...it's there...ugly thing to look at

if i'm not looking ...it goes away...because i see all the beauty greed tried to stumble me with

jmcu12

But we still have not defined what Greed truely is?


Scenario 1:

Dealer buys coin from someone for $50. Dealer sells same coin for $55 ===== Profit $5

Scenairo 2:

Dealer buys same coin for $50. Dealer sells same coin for $150 ====== Profit $100


I know this is not a perfect example but lets assume for ease that the coin, ask is: $60 (Randomly selected price)



One argument is that the market will bear $150 so a profit of $100 is perfectly acceptable? But where would that become greed? When the market will no longer bear the ask price that said dealer is looking for?


I dont know the answer, but I think its important for it to be discussed.

GoldenEyeNumismatics

$

I wouldn't really call a lot of it greed either.... just capitalism.

lasvegasteddy

<<<Dealer buys coin from someone for $50. Dealer sells same coin for $55 ===== Profit $5

Scenairo 2:

Dealer buys same coin for $50. Dealer sells same coin for $150 ====== Profit $100>>>

first dealer could be well to do and no overhead purely giving back as service to the community.

second dealer could have lease-employees-kids-wife- not well to do and needs to make "x" amount just to keep all concerns afloat.

bottom line

dealers do leg work collectors aren't in position to do...scour shows to find speciality series to offer as a source...some collectors as i find dealers keep this hobby afloat more then others think

i support them

jmcu12

<< <i>I support them >>




As do I, my intent is not to 'attack' dealers, just to ask that we define the question.