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Chutzpah: Give a defintion of the word as it relates to a coin transaction.
MGLICKER
Posts: 7,995 ✭✭✭
The more audacious the better.
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<< <i>Selling a coin for $10,000 and then charging shipping of $12.95. >>
....and dropping it unpadded in a cheap bubble envelope!
<< <i>Selling a coin for $10,000 and then charging shipping of $12.95. >>
I always found this funny when I saw it on dealers websites
How about telling one buyer how great a certain coin is, then having another specimen in the same grade a couple of years later...and dumping on the initial coin in order to pump up what is for sale now?
How about a well-known dealer offering me a coin at an inflated price and then dropping his price by 2/3, seconds after I laughed at him?
John J. Ford, Jr. (based on what we now know).
The U. S. Government's position concerning 1933 St. Gaudens double eagles (the Farouk coin was monetized and the Government got a cut of the sales price, but the Switt coins are illegal).
I will stop here, since I don't want to get bammed.....
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
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>Dealer offering less than face value for a large group of modern clad proof and mint sets. >>
Stamp dealers have been doing similar things for years.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>many B&M dealers would routinely buy a coin at one grade, and then turn around and sell the item at a higher grade >>
I remember as a kid selling back some coins to the local shop and not only was there the Buy/Sell dollar value spread, but there was also a grade spread, where the XF coins he sold me were only F when I tried to sell them back.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Claiming to be the nation's top $MILL dollar buyer of gem coins. Yet after looking through a double row box of $150K worth of choice/gem 19th century type coins during a summer ANA show (in a rising market).....picked out a single coin....a MS64 toner Pilgrim at $110, the cheapest coin in the box. And this was after getting first shot of the entire show! Fwiw half that box sold to the next 3 dealers visited.
Chutzpah: Claim that coins brought back to you for offers were never sold by you in the first place.......this is my all time favorite. Only one dealer has ever pulled this on me.
I had one dealer back in the 1970's claim that the coins they sold to me a year earlier were not theirs and they had no interest in them (VF 1799 bust dollar and a BU 1838 RE half). Years later they sort of apologized for that but it was way too late. I never bought another coin from them.
Chutzpah: Sell coins for all the money that you bought off the street for peanuts....and refuse to buy them back. Better yet, refuse to make an offer of any amount.
My first local dealer in the old days was loading me up in raw gem commems at CDN bid to ask levels. When I went back to them in early 1980 as prices were peaking they said they had no interest in commems and no clients to sell them to. Alrighty then.........Another, dealer I haven't even seen in 35 years. And they are still around in the same location.
Chutzpah: Sell coins out from under other customers who already committed to buying them....because the next guy will pay more.
One of my local dealers routinely did this. I don't think he even considered it to be unethical. Imagine my surprise when after committing on some neat circ type (like an XF 1853 A&R half or $70) it walks into the very next local coin show were a friend of mine shows me his latest "newps." Yup, the same coins. It got to the point where most of the people I know would not leave that B&M without coins in hand....because they knew they would be offered for more to the very next dealer that called inquiring about newps.
It is pronounced " shoots Pa," right ?
``https://ebay.us/m/KxolR5
<< <i>
<< <i>many B&M dealers would routinely buy a coin at one grade, and then turn around and sell the item at a higher grade >>
I remember as a kid selling back some coins to the local shop and not only was there the Buy/Sell dollar value spread, but there was also a grade spread, where the XF coins he sold me were only F when I tried to sell them back. >>
This practice was universal among coin dealers which is why the major third party coin grading services became so popular among coin collectors.
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
Many successful BST transactions with dozens of board members, references on request.
The Southwest? I'd call that [self-]damning with faint praise.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
My Reason
On a $250 coin item which was ordered from my store on Sat Jan 3rd and I shipped on Tuesday Jan 6th (excuse me for being away at a show til Tues)
Due to Amazon "policies" I will receive my cut $177.01 ("we have very little fees and expenses" Amazon)
in the mail 90 days from today's date Thur Jan 22
Really paying me at the end of April ..... thats Chutzpay
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]