Trade gone bad, need advice

erwindoc · December 10, 2012 10:54AM

Myself and another party came to terms about a trade recently. Unfortunately, the USPS damaged the package causing some of the contents to spill out when it arrived and are now claimed to be lost. Fortunately, the package was insured for an amount I had in the coins. The other party contacted me and is obviously frustrated feeling that the coins cannot be replaced at that level. Im not sure if they felt the coins should be worth more or what(I submitted several of them myself and had very little in them including grading fees). The other individual has presented me with several options, but all of them will end up costing me money. Its really no fault of either of ours and just bad luck that the package got damaged. What should I do???

lkeigwin · December 10, 2012 11:00AM

<< What should I do? >>

Package them better. Seriously, things like this don't usually matter if the coins were well protected.

I put the coin in a plastic sleeve. Then in a cardboard folder. Then in a bubble mailer. Or into a box taped inside another box.

A slit in the mailing box/envelope should not be a disaster.
Lance.

bigjpst · December 10, 2012 11:02AM

That is unfortunate. Sorry to add salt to the wound, but in my opinion, you are responsible for making sure that the items arrived to the other party. Insuring them for only what you have in them is fine, but you must understand that you basically self insured the rest. Fortunately the other person was honest enough to tell you that only part of the items were missing, as it could have been even worse. Sounds like you have a good dialog going, don't let that go bad. Maybe you can work out some other sort of trade, on payment plan.

howards · December 10, 2012 11:05AM

You have options:

1) Undo the deal.

2) Negotiate so that the insurance proceeds are applied toward making the deal whole and that any additional money needed is split 50/50.

3) Decide what the coins you received in your end of the deal are worth to you and pay that much for them, offset by how much insurance is paid out.

I don't see that what you paid for the coins you shipped is relevant to fixing the deal now. What is relevant is the value of the lost coins TODAY.

mrpotatoheadd · December 10, 2012 11:06AM

<< What should I do??? >>

Agree on how to prorate the loss based on what was received and what the buyer paid, file a claim with the post office and reimburse the buyer for the lost items.

mingot · December 10, 2012 11:07AM

I just noticed that this was a trade

I guess that can make it more difficult. I dunno.

mrpotatoheadd · December 10, 2012 11:10AM

<< Fortunately, the package was insured for an amount I had in the coins. >>

The most likely scenario regarding the post office's determination of value would be the amount you sold the coins for. If you insured for less, you are responsible for the difference.

Unknown · December 10, 2012 11:13AM

This content has been removed.

erwindoc · December 10, 2012 11:18AM

<< How exactly did you package said coins? >>

Packaged in a bubble mailer that was sealed not only with tape but also staples. The slabs were grouped together in 3 rows of 3 and wrapped to secure them together. They shouldnt have fallen out. He sent me photos of the package and it was beat to pieces!

scotty1419 · December 10, 2012 11:30AM

Major fail on your side for the minimal insurance. I think you're on the hook after the USPS insured losses.

coppertoning · December 10, 2012 11:32AM

I am going to assume that the trade was for items which were equivalent in value unless there were some funds to boot.

Again assuming that the transaction was lets say $300 dollars and the guide you both used to come to the values places each of the three slabs at $100 each. If 1 slab was lost I would say you owe him $200. What the insurance covers and the rest out of pocket. You should always insure for the sale price at least.

Nickcap · December 10, 2012 11:46AM

<< 

<< How exactly did you package said coins? >>

Packaged in a bubble mailer that was sealed not only with tape but also staples. The slabs were grouped together in 3 rows of 3 and wrapped to secure them together. They shouldnt have fallen out. He sent me photos of the package and it was beat to pieces! >>

Why use a bubble mailer for 9 coins? That many coins, you should use the USPS small flat rate box. Use bubble wrap and lots of tape. Also, you should always insure coins for fair market value.

Coppercolor · December 10, 2012 11:54AM

<< I am going to assume that the trade was for items which were equivalent in value unless there were some funds to boot.

Again assuming that the transaction was lets say $300 dollars and the guide you both used to come to the values places each of the three slabs at $100 each. If 1 slab was lost I would say you owe him $200. What the insurance covers and the rest out of pocket. You should always insure for the sale price at least. >>

Welcome to the forum Coppertoning!
You and I exchanged messages over on the other side yesterday.

AUandAG · December 10, 2012 11:55AM

Insurance is for the Seller's protection. You own the buyer what he paid, and whatever you get
from the insurance claim is your total due. Underinsured items is not the buyers fault. Damage
to packaging in transit is not the buyer's fault. It's your obligation to get the items paid for to
the buyer's door, intact as sold.

bob

TomB · December 10, 2012 12:01PM

Unwind the deal and, if you cannot come to a meeting of the minds on a replacement quickly, send his coins back.

mrpotatoheadd · December 10, 2012 12:02PM

<< Why use a bubble mailer for 9 coins? That many coins, you should use the USPS small flat rate box. >>

The OP said the package was "beat to pieces". How can you be sure a box would have fared any better?

edited to add... no matter how carefully you package something, you could always package it better.

coppertoning · December 10, 2012 12:03PM

<< 

<< I am going to assume that the trade was for items which were equivalent in value unless there were some funds to boot.

Again assuming that the transaction was lets say $300 dollars and the guide you both used to come to the values places each of the three slabs at $100 each. If 1 slab was lost I would say you owe him $200. What the insurance covers and the rest out of pocket. You should always insure for the sale price at least. >>

Welcome to the forum Coppertoning!
You and I exchanged messages over on the other side yesterday. >>

Thanks for the welcome. I have been viewing the threads for a little while just started posting tonight.

coppertoning · December 10, 2012 12:08PM

Tom your avatar is quite frightening over here!!

291fifth · December 10, 2012 12:15PM

You went the cheap route in both packaging and insurance. The loss will be yours. Sorry.

grote15 · December 10, 2012 12:21PM

<< You went the cheap route in both packaging and insurance. The loss will be yours. Sorry. >>

I would agree here...for that number of slabs you should have used a priority mail box or at least a regular-sized
box as a bubble mailer with that kind of bulging created by 9 bubblewrapped slabs inside is just asking to get get
mangled in a sorting machine.

SamByrd · December 10, 2012 12:24PM

First the packaging ypu describedis not good or safe. You are the party responsible for making sure the other side is made whole. Your part of the trade was satisfactory in that you received your items from your trading partner I am assuming this.

Bottom line you need to make it good period. File a claim and get what you can based on your insurance but without delay make your trading partner whole he is not at fault in any respect nor is he responsible here the OP is responsible to make sure the item gets to the trading partner and even with mishandling by the post office still needs to make the deal whole. It may cost you money to resolve this but you are the responsible party here your trading partner sure is not.

I have received 3 broken slabs in the last 12 years sent in bubble mailers I myself always use a small box and assume the box will get handled in the worst possible manner. Good packaging often prevents these types of issues.

Good luck on resolving this issue.

erwindoc · December 10, 2012 12:28PM

<< 

<< You went the cheap route in both packaging and insurance. The loss will be yours. Sorry. >>

I would agree here...for that number of slabs you should have used a priority mail box or at least a regular-sized
box as a bubble mailer with that kind of bulging created by 9 bubblewrapped slabs inside is just asking to get get
mangled in a sorting machine. >>

I really appreciate everyones help and suggestions. I know its my responsiblity to get it to the other party, just trying to figure out how to fix the deal and salvage what I can. I will keep in touch with the other party and it should turn out ok, just not exactly how I want.

sniocsu · December 10, 2012 12:59PM

Best of luck,
-TEJ

CoinRaritiesOnline · December 10, 2012 1:18PM

Unwind and start over.

TomB · December 10, 2012 1:22PM

<< Tom your avatar is quite frightening over here!! >>

It's a web-cam picture of me as I type on the boards!

grote15 · December 10, 2012 1:24PM

Sounds like you are both very reasonable collectors and will come to an agreement where neither party feels particularly regretful.

GrumpyEd · December 10, 2012 3:09PM

Bubble mailers alone aren't very safe for slabs especially multiple slabs. Machines can rip them open or crack slabs.

A box won't be 100% safe but it's much safer than without a box.

Something in between for a single or couple slabs can work like folding a piece of cardboard over the slabs and taping it then put it in a bubble mailer but still it's probably simpler to use a flat rate box. Even a used flat rate box would do it.

Now I'd try to work out a deal that both can live with. As the seller you need to make up anything beyond insurance. Sounds like it will work out for both.

USMoneylover · December 10, 2012 3:51PM

<< Unwind the deal and, if you cannot come to a meeting of the minds on a replacement quickly, send his coins back. >>

Agree 100%.

Trade gone bad, need advice

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