What would you do?

Timbuk3

I went to our local swap meet on Sunday. As I was browsing a local coin dealers table, I over heard the dealer
trying to sell a bunch of 100 mil. layered silver clad bars as 1 oz. pure. to a novice collector. I did not say anything
and slowly walked away. This has been bothering me. Should I have intevened and said something to the dealer
or to the buyer. I later returned to the dealers table and was told that someone bought all his bars. What would
you have done. Just asking !!!

STONE

Call the cops because the seller was committing Fraud

AUandAG

I would have just watched to see if the buyer bought. If he did then I'd approach him, away from
the dealers table area, and comment: " that I have plated bars just like the ones you bought. Did you
get a good deal?"

bob

ModCrewman

My initial thought is it depends on if I had a relationship with the dealer or not as to whether I'd intervene. But then decided that depending on the dealer's response to an interruption, it could potentially become a relationship I wouldn't have any interest in preserving.

I guess perhaps the best route would have been to interrupt the transaction and indicate, "Are you sure those are solid silver? I think they may be silver clad." Presenting it in such a way as to be assuming the dealer did not know they were clad giving him a way out of the transaction and saving face in front of his customer (though that may not be appropriate either!). But after the deal was broken up, I'd approach the dealer privately and indicate that you suspect he knew better and reprimand him for his actions...as if that would do any good. Regardless, in that situation you would have likely "done your duty" on the matter.

Edit - I like Stone's idea too.

GoldClause

Use the golden rule. If you were the novice collector, what do you wish someone would have done.

HotCoinStuff

I would have broken down and started to poka.

ricko

I would not have allowed the deal to be consummated. I am outspoken, opinionated and strongly object to thieves... and that is what it was... theft. You can call it fraud, just a different shade of black. No way could I allow that to happen..... and if security was called, all the better... we will see who wins that one. Allowing this is the same as watching someone be raped.... not going to happen on my watch. Anyone doesn't like it... deal with me - good luck. Cheers, RickO

lkenefic

The only time I ever caught a dealer selling counterfeit merchandise was one attempting to pass off a doctored 1877 IHC as real. I handed it back to him and said something like "good luck with that" or something of the sort... a quip that could probably be taken any number of ways. His entire demeanor changed immediately. He became defensive and clearly agitated. I just walked away...

Solo

I would never interfere with a transaction unless I was 1000% certain someone was about to get ripped off. In the scenario you're describing I would have waited for the buyer to either buy the goods, or pass on the goods, and then I would have approached them and talked to them about it. It would take me less than 60 seconds to show them on my phone multiple web-pages explaining what "mils" are. That way you can educate the person without raising a ruckus at the table. The person can either thank you for the education (assuming they passed on the deal), or they'll head back to the dealer to raise cain to get their money back.

NewParadigm

<< <i>Use the golden rule. If you were the novice collector, what do you wish someone would have done. >>




Great quote

taxmad

Ask to see one and once you verified it was plated, ask how much. If he said $36 - just ask 'for a silver plated bar?' Say it loud enough for the novice to hear. Then walk away in disgust...

derryb

If I was sure the bars were clad, I would have immediately reported him to the sponsor of the swap meet.

UtahCoin

If I was 100% sure they were plated junk, I would move myself next to them like I was also interested. Then, if they started to close the deal I would speak up and say something like, "hey, these are not solid silver, they're only silver plated" while indicating why you know that.

If the buyer walked away without buying, I'd then tell the seller the same thing. I would also tell the local law enforcement agency asap.


I once had a customer walk in the shop real proud of the fact that he bought several 1oz gold coins in Mexico way below spot. Only problem was they were gold plated 1oz Mexican silver Libertads.....

g048406

Easy, I would alert the potential buyer and the seller of the scam. I do this now and have been doing this for the past 30 years. I regularly contact eBay about scam sellers whenever I see them. Not to do so, to me, is unacceptable. Some may recall a certain ebay "estate doctor" that I fought tooth and nail with....I still see his counterfeit 1799 cents and 1796 half cents in my nightmares. How would you have like to have been one that bought them for Thosands of dollars?

NewParadigm

I would buy it, making sure I have a receipt for a price around spot then kindly proceed to the local police dept. This, of course, is under the fact that he knows what he is doing.

comma

If he knew they were fake, he should be arrested. The end.
And it's in a public place, so it's everyone's business who can see and hear.
I'd be surprised if he made through without somebody else noticing too..