How do coin dealers get over the moral difficulties of selling a coin that they really don't believe
Longacre
Posts: 16,717 ✭✭✭
I received an unsolicited email this morning, and it got me thinking of how a coin dealer might react to a similar situation.
Essentially, the person emailing me is looking for me to do pro bono legal work for her to establish a non-profit organization (hey, at least she was up front about it, rather than stiffing me later). In the email, this woman described the type of organization she wants to create. The email was essentially a tirade against big business, extreme carbon footprints, the lack of inter-faith cooperation among religions, etc.
Now Longacre is one of the more excessively liberal people out there, but this lady’s description of the activities of the proposed organization made me look like a Rush Limbaugh wannabe. Although I typically do at least 50 hours of pro bono work a year, I have a moral dilemma with assisting with this project.
In the coin dealer context, how do the dealers get over the moral difficulties of selling a coin to a client, or advising a client, on a coin that the dealer does not truly believe in, similar to my situation above? Do they simply refuse to deal with the person (as I will probably do), or do they hold their noses and move the product? Any comments?
Essentially, the person emailing me is looking for me to do pro bono legal work for her to establish a non-profit organization (hey, at least she was up front about it, rather than stiffing me later). In the email, this woman described the type of organization she wants to create. The email was essentially a tirade against big business, extreme carbon footprints, the lack of inter-faith cooperation among religions, etc.
Now Longacre is one of the more excessively liberal people out there, but this lady’s description of the activities of the proposed organization made me look like a Rush Limbaugh wannabe. Although I typically do at least 50 hours of pro bono work a year, I have a moral dilemma with assisting with this project.
In the coin dealer context, how do the dealers get over the moral difficulties of selling a coin to a client, or advising a client, on a coin that the dealer does not truly believe in, similar to my situation above? Do they simply refuse to deal with the person (as I will probably do), or do they hold their noses and move the product? Any comments?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
<< <i>Do they simply refuse to deal with the person (as I will probably do) >>
It depends on what kind of reputation the dealer is trying to build and maintain if any. You are known by the company you keep and the coins you sell.
People have standards, some lower and some higher. Greed and Profit are great equalizers though.
Ray
The idea that an ethical dealer only handles top-of-the-line quality coins is a bunch of elitist bullcr@p.
<< <i>In the coin dealer context, how do the dealers get over the moral difficulties of selling a coin to a client, or advising a client, on a coin that the dealer does not truly believe in, similar to my situation above? Do they simply refuse to deal with the person (as I will probably do), or do they hold their noses and move the product? Any comments? >>
Dealers who also act as psychiatrists and self-help gurus face moral dilemmas.
Dealers who act strictly as merchants do not.
I never offered such pieces to any of my want list or otherwise regular customers.
<< <i>My solution was to sell such coins to other dealers at a price I thought was fair for the item.
I never offered such pieces to any of my want list or otherwise regular customers. >>
What Bill Jones said. Also, there are some coins that are so problematic for one reason or another that the coin must be returned to the seller, or destroyed.
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>I received an unsolicited email this morning, and it got me thinking of how a coin dealer might react to a similar situation.
Essentially, the person emailing me is looking for me to do pro bono legal work... >>
Actually, she's trolling for anyone to do free legal work.
<< <i>I have a moral dilemma with assisting with this project. >>
Then don't.
<< <i>In the coin dealer context, how do the dealers get over the moral difficulties of selling a coin to a client, or advising a client, on a coin that the dealer does not truly believe in, similar to my situation above? Do they simply refuse to deal with the person (as I will probably do), or do they hold their noses and move the product? Any comments? >>
You seem to be comparing apples and coconuts here. You have been approached by what seems to be a distasteful person wanting something for free. The coin dealer equivalent would be having a similarly distasteful person come into their store and ask to have a want list filled at wholesale prices or free auction representation. Most dealers would not bother with this person, as it appears you will not.
The moral dilemma comes when she offers to pay handsomely for something you don't believe in, and now you have to decide whether or not to take the job. A coin dealer being offered Obscene Profit™ to fill a large order of AU58 coins that will probably be reworked and sold as MS63 rarities may be considered to be in the same position.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>
<< <i>I received an unsolicited email this morning, and it got me thinking of how a coin dealer might react to a similar situation.
Essentially, the person emailing me is looking for me to do pro bono legal work... >>
Actually, she's trolling for anyone to do free legal work.
<< <i>I have a moral dilemma with assisting with this project. >>
Then don't.
<< <i>In the coin dealer context, how do the dealers get over the moral difficulties of selling a coin to a client, or advising a client, on a coin that the dealer does not truly believe in, similar to my situation above? Do they simply refuse to deal with the person (as I will probably do), or do they hold their noses and move the product? Any comments? >>
You seem to be comparing apples and coconuts here. You have been approached by what seems to be a distasteful person wanting something for free. The coin dealer equivalent would be having a similarly distasteful person come into their store and ask to have a want list filled at wholesale prices or free auction representation. Most dealers would not bother with this person, as it appears you will not.
The moral dilemma comes when she offers to pay handsomely for something you don't believe in, and now you have to decide whether or not to take the job. A coin dealer being offered Obscene Profit™ to fill a large order of AU58 coins that will probably be reworked and sold as MS63 rarities may be considered to be in the same position. >>
What he said
For instance, I do not like the 1922 No D cent and freely tell customers that fact.
As for grade, when asked, I will give my opinion of the coin, as well, but freely admit that no one, myself included, is perfect and the final decision must be left to the purchaser.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
My reply is based on speculation and my observation of human nature. I think dealers and most business people would fall into two categories (and probabally switch between the two over time in different situations.)
1: This is a business. If there is a buyer, I will sell to them. Minor misgivings (or major misrepresentation) can be ignored/denied to serve the goal ($).
2: This is a buisness. I need to cultivate relationships with buyers and be open and honest with them. The long term benefit will serve the goal ($).
If I was not so cynical, I would say there is a third group who truely look out for the best interest of their clients (independant of the goal ($)) and only sell coins they really believe in.
"How do coin dealers get over the moral difficulties of selling a coin that they really don't believe in?"
They get over it with a discount.............
did not want to risk the buyer being as disappointed with the coins as I was.....
the flip-side: I have no problem asking for premiums for coins that flip my switch (and that I'd be reluctant to sell for anything but a hefty premium)....
1879-O{Rev}: 1st coin of my "secret set"