Someone owes you money, can't pay in cash and wants to pay you in collector coins ...
291fifth
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Would you be willing to do this?
What type of collector (not bullion) coins would be acceptable to you?
How would you place a value on the coins offered?
The deal would be final with no recourse if what he gave you declined in value.
Comments ...
What type of collector (not bullion) coins would be acceptable to you?
How would you place a value on the coins offered?
The deal would be final with no recourse if what he gave you declined in value.
Comments ...
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<< <i>If he thinks it's a good idea, let him take the risk by selling them and send you the cash. >>
This sounds like an acceptable compromise.
Steve
<< <i>I would want 125% in coins in place of the money owed. And agreed upon values. >>
I like this idea, that way you can cover selling costs if you just need the cash.
Hoard the keys.
I've read too many stories on here about people ending up with nothing on some of these transactions.
<< <i>and your problem is?
Jim >>
No problem. A pure hypothetical.
<< <i>If he thinks it's a good idea, let him take the risk by selling them and send you the cash. >>
That was my first thought -
<< <i>Would you be willing to do this?
What type of collector (not bullion) coins would be acceptable to you?
How would you place a value on the coins offered?
The deal would be final with no recourse if what he gave you declined in value.
Comments ... >>
NO!
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>I would want cash or bullion at wholesale prices. If he has collector coins, he can sell them and then pay me. >>
As for decline in value, that is irrelevant. the value at the time of transaction is all that matters. After that, you get to decide if you want to hold them or sell them.
I think many people are responding negatively because of the negative tone you put in your post.
--jerry
<< <i>Anything that I have an interest in I would accept. call it trade, call it barter... and if I dont need it and the item needs to be sold I would make sure the coin is worth AT LEAST $100 + % for the trouble I would now have to go through to sell it >>
Generally I tell customers who ask that I accept almost all forms of payment but have stopped taking goats because of the mess and the smell. --Jerry
In that case I might take enough collector coins to cover the obligation or a percent thereof.
Of course this would sever our future business relationship.
<< <i>
<< <i>Anything that I have an interest in I would accept. call it trade, call it barter... and if I dont need it and the item needs to be sold I would make sure the coin is worth AT LEAST $100 + % for the trouble I would now have to go through to sell it >>
Generally I tell customers who ask that I accept almost all forms of payment but have stopped taking goats because of the mess and the smell. --Jerry >>
Are you still taking sheep Jerry?
Hoard the keys.
<< <i>Would you be willing to do this?
What type of collector (not bullion) coins would be acceptable to you?
How would you place a value on the coins offered?
The deal would be final with no recourse if what he gave you declined in value.
Comments ... >>
yes take the coins....but use pawn shop pricing to value the coins.
Barrytrot(2),Stupid,Savoyspecial,docq,ecoinquest, halfhunter,snman,Coll3ctor.
wondercoin. Blue594. internetjunky.
keepdachange. Scrapman1077.Ahrensdad, mrmom, mygrandeoso, blu62vette, Clackamas,giorgio11, adriana, cucamongacoin,
why they can't pay it, and
what the coins are
Liberty: Parent of Science & Industry
How?
Someone in the 70s gave him a box of coins as collateral against a loan. The loan was never repaid, but he sat on the box for years, and there the coin was.
So, who knows what sort of goodies might turn up?
<< <i>In 2004 I took a phone call at ANR from a man who was apologetic about "all the calls" I must get from people who thought they had something rare when in fact it wasn't likely. But he continued and told me he was a librarian, and he had done some research, and he thought he had in his possession the stolen DuPont 1866 No Motto $1.00. The story was just intriguing enough I interrupted John Kraljevich at his desk and told him I had a call on hold that was different than the usual...and in case you forgot, it turns out he in fact had the stolen coin.
How?
Someone in the 70s gave him a box of coins as collateral against a loan. The loan was never repaid, but he sat on the box for years, and there the coin was.
So, who knows what sort of goodies might turn up?
Interesting story, but the "man" got screwed...twice!
<< <i>I would take the coins while you can get them.
I've read too many stories on here about people ending up with nothing on some of these transactions. >>
total total
<< <i>In 2004 I took a phone call at ANR from a man who was apologetic about "all the calls" I must get from people who thought they had something rare when in fact it wasn't likely. But he continued and told me he was a librarian, and he had done some research, and he thought he had in his possession the stolen DuPont 1866 No Motto $1.00. The story was just intriguing enough I interrupted John Kraljevich at his desk and told him I had a call on hold that was different than the usual...and in case you forgot, it turns out he in fact had the stolen coin.
How?
Someone in the 70s gave him a box of coins as collateral against a loan. The loan was never repaid, but he sat on the box for years, and there the coin was.
So, who knows what sort of goodies might turn up?
I interpreted your story differently. Your customer got fleeced by the party who likely was either a conspirator or the principal in the DuPont robbery. That person found an uninformed dupe to fence the hot goods on. I know of a similar situation where an alleged 1804 Dollar was presented as collateral on a substantial loan between private parties. That matter never has been settled.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>
<< <i>I would take the coins while you can get them.
I've read too many stories on here about people ending up with nothing on some of these transactions. >>
total total
Been there done that, a few times. Sometimes 90% is a lot better than 0%. One time I refused to settle for about 60%....I ended up getting 0%. Lesson learned.
roadrunner
If it was some easy to sell keys or bullion at a bargain price that might be ok.
If it was a bunch of common junk in folders at face value that would be ok.
If it was some common junk at retail prices forget it.
<< <i>If he thinks it's a good idea, let him take the risk by selling them and send you the cash. >>
<< <i>If he thinks it's a good idea, let him take the risk by selling them and send you the cash. >>
This
Do you buy coins? If so, why not see what he has?
I have traded for coins a few times. No problem if they're coins I like.
Lance.
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)
<< <i>I would take them at an acceptable discount to make up for the hit you will take when you immediately resell. >>
"Will take"? Not everybody loses money reselling coins they just bought, you know. Of course, if *you* do, you should probably not agree to this sort of deal.