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True Dealer Story 2

AMRCAMRC Posts: 4,266 ✭✭✭✭✭
As promised here is a new one.

About a year-and-a-half ago I got a call from some gentleman wanting to sell some coins. He said he had a Capital Plastic holder that had a full set of Lincoln Cents. When I asked about the 1909-S VDB, the 14-D etc., he replied "they are all in there as there are no empty holes." I made the appointment to go see him and so we met a few days later.

True to his words every hole had a coin in it and the holder had spots for the 22 No D, and the 1955 Double Die as well. Well of course my scrutiny flag went off and I spent a lot of time in poor dining room light glued to a loupe trying to authenticate these coins. They all looked genuine with the exception of the 09-S VDB. The 1955 Dbl Die looked right but it had been harshly cleaned (as many of the coins) some time in its past. I made him an offer on the set with the following conditions. I told him I would give him so much money today, and I would send the 09-S VDB, 22 No D, and the 55 Dbl Die in for grading to confirm if they were genuine and gradable. I would then pay him $XX.XX if genuine or $YY.YY if they graded, and return them if they turned out to not be genuine (I warned him about the 09-S VDB) . I told him I would absorb the grading costs as well except if they were not genuine.

So I get the coins back a few weeks later and as I expeected the 22 No D came back in VF, the 55 Dbl Die in AU Details "harshly cleaned" and the 09-S VDB was not genuine. So I call him up and said "Good news" and told him I owed him some more money. He then changed his tune and said he wanted those three coins back! So I reminded him about our discussion and he said he agreed to no such thing. So I agreed to give him coins back if he kept me whole on my out of pocket expenses with a modest premium for my time. He agreed but it took him 9 months to mail me a check. I mail him the coins back and I am glad to be done with it. That was about 7 months ago.

He called me yesterday and decided to take my offer after all, and wanted to know if I would make the 45 min drive out to see him again. He also wanted to know if I would also pay him back for the grading costs and the premium. I think you all can guess how that went over with me. So here it is a year and a half later and now the coins are back with me, with him absorbing the grading costs.

I have to say it never get's tiring looking at the 55 Dbl Die however.

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MLAeBayNumismatics: "The greatest hobby in the world!"

Comments

  • ebaybuyerebaybuyer Posts: 2,984 ✭✭✭
    a hard copy of the conversation (signed by both parties) would avoid much of this type of drama. doesnt take long to type up a one page agreement
    regardless of how many posts I have, I don't consider myself an "expert" at anything
  • keyman64keyman64 Posts: 15,452 ✭✭✭✭✭
    Sounds like a lot of drama to me. I read a lot and quite often wish I was a dealer but then I read other stories like this and think....what a headache....but I guess you have the good and bad with ANY JOB. I still have to believe the potential upside and excitement would win over when dealing with coins.
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • MFHMFH Posts: 11,720 ✭✭✭✭

    Dealing with the uniformed public can be very trying.

    That said, a lot of angst could be avoided with a simple
    letter of agreement outlining the transaction.

    That's a shame about the cleaned DDO 1955 Lincoln.
    It looked like it was close to MS.

    Don't tell me you took the fake 09-SVDB back too ??

    Mike Hayes
    ~~~~~~~~~~~~
    Coin collecting is not a hobby, it's an obsession !

    New Barber Purchases
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    These stories amaze me, and each one further supports my decision to never be a coin dealer. Cheers, RickO
  • DBSTrader2DBSTrader2 Posts: 3,444 ✭✭✭✭
    Lots of the time, I have a hard time seeing the doubling on coins people post pics of. But this one leaves NO DOUBT!! AWESOME!!

    - - Daveimage
  • jdimmickjdimmick Posts: 9,583 ✭✭✭✭✭
    Honestly, I would have told him to pound sand.
  • stealerstealer Posts: 3,968 ✭✭✭✭


    << <i>Honestly, I would have told him to pound sand. >>

    '
    Depends on whether or not I really wanted the coin(s). Sounds like in this case the dealer wanted the coins.
  • SoCalBigMarkSoCalBigMark Posts: 2,786 ✭✭✭✭✭
    Thanks for sharing, can't wait for #3!
  • Always get it in writing. Makes everything nice and neat.
    Let's try not to get upset.
  • AMRCAMRC Posts: 4,266 ✭✭✭✭✭
    I totally agree about getting it in writing. But the facts are that would mean in the last 7 or 8 years I would have completed about 550 forms on deals like this because of this one person. In terms of time and money, and I cannot beleive I am saying this because I am one who seldom leaves much to chance, sometimes it is just easier to deal with the idiot than subject all of the rest of the folks to the figor where a handshake was enough.

    It may sound old school, but it is one of the reasons I really like this business.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • I agree with that, too. You should do business the way you like.

    Me, I'd have to have it in writing, just so everybody knows that if this happens, then we'll do this, or if that happens, then we'll do something else. I'm naturally an "in-writing" type of person ... if I see it in print, I'll generally remember. But if someone tells me something, it usually goes in one ear and out the other. Maybe the person you bought from was an "in-writing" type of person, too, and got a little confused trying to remember what he'd agreed to in the first place.

    Anyway, glad everything worked out for the best! image
    Let's try not to get upset.
  • cmerlo1cmerlo1 Posts: 7,890 ✭✭✭✭✭
    Blocked. image
    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
  • Cougar1978Cougar1978 Posts: 7,539 ✭✭✭✭✭
    Whenever you get in a coin deal with someone that is contingent on some TPG opinion to seal it your almost always going to be in a no win situation. I am speaking from experience and had some similar situations.
    So Cali Area - Coins & Currency
  • AMRCAMRC Posts: 4,266 ✭✭✭✭✭


    << <i>Whenever you get in a coin deal with someone that is contingent on some TPG opinion to seal it your almost always going to be in a no win situation. I am speaking from experience and had some similar situations. >>



    I have done it many, many, times and it has always worked. Even this time it did when you think about it as I have the coins, he has his money. And although I would not want to work with him again, he does not know that.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭
    I would offer less than original offer. Then charged for gas, time, and whatever else I could think of. People who waste my time warrant the same respect.
    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • BochimanBochiman Posts: 25,284 ✭✭✭✭✭


    << <i>I would offer less than original offer. Then charged for gas, time, and whatever else I could think of. People who waste my time warrant the same respect. >>



    The way it happened wasn't great. I think all can agree on that. And, someone IS entitled to expenses....presumably, these are built into any offer. However, that all said, while it is human nature to do it, I think it best to take the high road and not get petty and vengeful. Keep it business and move forward.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • pennyanniepennyannie Posts: 3,929 ✭✭✭


    << <i>

    << <i>Whenever you get in a coin deal with someone that is contingent on some TPG opinion to seal it your almost always going to be in a no win situation. I am speaking from experience and had some similar situations. >>



    I have done it many, many, times and it has always worked. Even this time it did when you think about it as I have the coins, he has his money. And although I would not want to work with him again, he does not know that. >>



    If i was a non collector with these coins and you ran your 3 options by me i would think you were either out to get me, or do not know a lot about coins and would go elsewhere. The upside to that is most of these non collectors are clueless and need money so you get a pass. The world needs clueless lazy people so the rest of us can make a living off of them.image
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"


  • << <i>i would tell him to pound sand >>



    Only if you needed a solid level base for your bricks.
    I'm Just Sayin"


    http://www.coinshop.com

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