who should send first? buyer or seller?

I have always found it interesting to see how both dealers and collectors view a transaction.
Say I list something on the BST. Ive had both dealers and collectors who will not pay until the coin is in hand, while others believe that they are supposed to send payment first before getting the coin.
Same with dealers and collectors on my website. Some will say "ship to me first" while others first make payment.
Lastly, when I send out my inventory mailing, there are some people who rack up a bill and then expect that I ship before they send payment.
This has always made me wonder about what is the "norm" if such exists
thoughts?
Say I list something on the BST. Ive had both dealers and collectors who will not pay until the coin is in hand, while others believe that they are supposed to send payment first before getting the coin.
Same with dealers and collectors on my website. Some will say "ship to me first" while others first make payment.
Lastly, when I send out my inventory mailing, there are some people who rack up a bill and then expect that I ship before they send payment.
This has always made me wonder about what is the "norm" if such exists
thoughts?
may the fonz be with you...always...
0
Comments
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
This!
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
I generally agree. As a collector, I have developed a relationship with some sellers who, as a courtesy, will ship the coins on approval. As a seller, if I know the buyer well, I may also send the coin prior to receiving payment.
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<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
This! >>
That.
Too many positive BST transactions with too many members to list.
<< <i>
<< <i>
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
This! >>
That. >>
Indeed.
8 Reales Madness Collection
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
Yes, this seems not only appropriate but is the norm.
coins for sale at link below (read carefully)
https://photos.app.goo.gl/wvMmoUmVZySywyXj7
In those cases where additional trust is warranted, other arrangements can be made.
In rare instances, a third party who can broker both sides of the the deal might be helpful.
<< <i>I have never had someone on the BST not send payment as soon as the deal was agreed to, in return I almost always ship as soon as possible as well. >>
Agree. If you're doing a BST transaction with someone who has been here awhile and is an active participant, I don't think it really matters who goes first or if both go at the same time.
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
Lance.
I have shipped coins on approval to repeat customers, and on occasion to new customers who have good forum references or
are long time members and contributors. Never been burned, after hundreds of transactions.
As a seller, I have found that when large companies make offers/buy coins from me they "expect" that I will ship to them and once they have my coins they will send the coins.
From this, I have interpreted that the "bigger " will make the "smaller" do the work first. I can understand that if you are a big company with lots of transactions taking place, then once you have the coin in hand you know to send the check.
Being a large company and having many "smaller" clients- you don't want to be sending checks to just anybody unless you have an extensive relationship with them.
COC - Cash/Check on Confirmation, payment and item ship at same time, crossing paths in the mail. This is usually for bullion/bullion related items.
Payment on receipt - For numismatic items, the seller usually ships out and buyer sends a check upon receipt of the item.
On the retail end, payment is usually made up front, unless a coin is sent out on approval to a known customer, or a customer with references.
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
The Reeded Edge
<< <i>
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
I generally agree. As a collector, I have developed a relationship with some sellers who, as a courtesy, will ship the coins on approval. As a seller, if I know the buyer well, I may also send the coin prior to receiving payment. >>
+5 or so. Trust isn't granted. It's earned. .
I expect to pay as per the sellers terms as well in advance as a buyer. Though in many cases I have had people send me items as a privilege in advance.
If a buyer demands shipment in advance my response is no unless I want to make such an accommodation.
...and if you don't pay up immediately after the meal, cousin Vinny has a meeting with you out back!
<< <i>I have always found it interesting to see how both dealers and collectors view a transaction.
Say I list something on the BST. Ive had both dealers and collectors who will not pay until the coin is in hand, while others believe that they are supposed to send payment first before getting the coin.
Same with dealers and collectors on my website. Some will say "ship to me first" while others first make payment.
Lastly, when I send out my inventory mailing, there are some people who rack up a bill and then expect that I ship before they send payment.
This has always made me wonder about what is the "norm" if such exists
thoughts? >>
Well joebb21, It's quite simple... If you actually considered offering a return/refund privilege there probably wouldn't be the frequent ask for shipping on approval.
<< <i>Depends are not just adult diapers. >>
Hoard the keys.
<< <i>Ask any auction house to send you your coins frist and see what they say.
Same as most sellers of coins... if you're a good enough customer you get your coins before payment.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Erik
Otherwise, people pay me and I send them stuff.
I have never had a problem.
Eric
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
This again!
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ZeroHedge makes debut at White House press corps briefing
Posted WTB 60 ASE 11/14/2013
Offer made 11/14/2013
Deal struck 11/15/2013
Check in mail 11/16/2013
60 ASE in hand 11/19/2013
11/20/2013 Silver down $0.43 since purchase, priceless.
Thank you freechance!
As a seller I ship when check is in hand, until I get burned, then I'll consider holding till cleared.
Herb
<< <i>perhaps let me clarify one scenario-
As a seller, I have found that when large companies make offers/buy coins from me they "expect" that I will ship to them and once they have my coins they will send the coins.
From this, I have interpreted that the "bigger " will make the "smaller" do the work first. I can understand that if you are a big company with lots of transactions taking place, then once you have the coin in hand you know to send the check.
Being a large company and having many "smaller" clients- you don't want to be sending checks to just anybody unless you have an extensive relationship with them. >>
Large buyers generally have the upper hand and it's usually their terms or no deal.
<< <i>As a seller, I have found that when large companies make offers/buy coins from me they "expect" that I will ship to them and once they have my coins they will send the coins.
From this, I have interpreted that the "bigger " will make the "smaller" do the work first. >>
Suppose you run a large coin company. Somebody calls you up and tells you they have an XF 1893-S Morgan dollar for sale and want to know what you'd pay for it. You give them a quote based on confirmed authenticity and accurate grading and they are satisfied with the offer. Would you send a check before you get the coin?
<< <i>
<< <i>As a seller, I have found that when large companies make offers/buy coins from me they "expect" that I will ship to them and once they have my coins they will send the coins.
From this, I have interpreted that the "bigger " will make the "smaller" do the work first. >>
Suppose you run a large coin company. Somebody calls you up and tells you they have an XF 1893-S Morgan dollar for sale and want to know what you'd pay for it. You give them a quote based on confirmed authenticity and accurate grading and they are satisfied with the offer. Would you send a check before you get the coin? >>
I doubt they'd send you a check even if you sent a pic of it in a PCGS xf45 holder. They want to make sure that it's worth what they'll pay for it. Hopefully they don't try to lowball you while holding your coin hostage. A better question is how far apart from your asking price would you tolerate before you told them to return it? $10? $50? $100?
<< <i>When I'm selling, I don't ship an item until payment has been received unless it's somebody I know that I trust or other arrangements have been made. When I'm buying, I expect to pay before the item is shipped unless other arrangements have been made. >>
Ditto here.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.