If you had an ad on BST, how would you decide to trade with a new member?
Herb_T
Posts: 1,755 ✭✭✭✭✭
If there was a thread in the BST forum to trade for a similar coin but with a different mint mark that you wanted, and you were offered a trade from a relatively new member, 5-6 months would you make it and if so how would you want to structure or make the trade or not make the trade?
Would you tell the newer member they haven’t been on the forum long enough? Not make the trade?
Would you make the trade with similar ship date?
Would you make the trade, but only after you received the coin, inspected it and then sent the other coin to the newer member? The new member would have accepted this arrangement in advance.
I would like to get a feeling on how if any trade might or might not be made……
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Comments
Depends on the value of the coin. For a high value coin, you can always ask the new guy to send you his coin first. If he refuses, then no deal. We've had more than a few scammers use the CU BST.
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
Reminds me of the opening of Indiana Jones and Raiders of the Lost Ark.
[Indiana needs his bullwhip to swing across a chasm]
Indiana : Give me the whip.
Satipo : Throw me the idol.
[they both see a stone door closing]
Satipo : No time to argue! Throw me idol, I'll throw you the whip!
Indiana : [throws the idol] Give me the whip!
Satipo : [drops the whip] Adiós, señor.
Depends on too many variables to list.
Length of participation here would be one variable but not at the top of that list.
A nationally known and respected numismatist that signed up here yesterday would be one thing vs a well known and disliked scoundrel who has been here since day one.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
That is what I thought. The coin is $150 in value,…seems like it should be a no brainer.
Do it as 2 sales rather than a trade, then you each have charge back options.
All comments reflect the opinion of the author, evn when irrefutably accurate.
2 sake? What is that?
Sake is a Japanese rice wine. He's saying do the trade over drinks. Or perhaps it was a typo and he meant "sale".
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
Does the newer person have any references? I've been here on the forum about 6 months now. I have many buys and sells on here so far..
@Herb_T
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
Plenty of ways to get comfortable - 1) ask for coin pictures and make sure pictures are original (i.e. not lifted off eBay), 2) ask for BST or dealer or eBay ID references 3) ask for a picture of ID with matching shipping address 4) ask for $ collateral to be returned once coins are exchanged 5) do the deal through PayPal goods and services and ask for the extra 3%. Regardless, make sure all deal terms are crystal clear and return privileges are clear.
Ultimately, if you can’t get comfortable, the BST board probably isn’t the right sale forum for your level of risk tolerance.
I wouldn’t do any deals where if something went wrong it would seriously jeopardize my overall enjoyment of numismatics or my overall budget.
Sales. Sorry. Corrected.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Honestly, no, I wouldn't make the trade. There aren't many I'd feel comfortable just doing a trade with unless it was in person. I'd be more inclined to do a trade with a known dealer on the board because they have reason to live up to their end and I'd be more willing to ship first as a result.
Personally, I would not do a trade unless it was in person.
Otherwise, I think the quote above is the safest way to do a trade. For a small fee, all your doing is exchanging the same amount of money, and you get the paypal protection.
I believe others have been scammed on trades here in the past. The honest person would send the coin, and the scammer would not. The scammer would then disappear from the boards, possibly to return as an alt to find other victims.
I see both sides. As a new member here (who still cannot add a profile picture or post pictures in threads) I would understand if a well-established member had certain criteria for me buying, selling, or trading with them. Ultimately, it is up to you on what your risk tolerance is.
As a new member as well, I do hope folks give me the chance to BST with them should I find something.
Collector of Circulated Winged Liberty Head Dimes (Mercury Dimes)
Yes…but didn’t list them….good point.
New mint coins in OGP. Trade was for one coin.
No problem shipping first….but wasn’t given that option…I have 100% rating on eBay with almost 1800 transactions spanning almost twenty years. Only talking about a coin that was purchased from the mint for $85 and currently bought/sold for $125-150.
I didn’t think my iPad camera let others see me!
Exactly!
I can't emphasize enough the value of the 3% PayPal fee when dealing with strangers. I bought almost $8000 worth of these "new mint coins in OGP" from people on the forum. I simply asked them to invoice me with the 3+% PayPal fee added so that I could pay them in advance of shipping. That makes them secure in the transaction - just because I have 20,000+ posts doesn't mean I'm trustworthy LOL - and if they shipped me an empty box I could then simply file a charge back with PayPal so I feel secure. Yes, it cost me $80 - I paid with a 2% cashback card - but both parties have peace of mind.
For people you've had a history with, you could send a check or something instead if you want to save the 1% net cost. But there is real convenience to doing it the PayPal way as well.
All comments reflect the opinion of the author, evn when irrefutably accurate.
If you are established and have refs, and trade partner does not, ask them to send first.
am
I bought a relatively expensive ($5k) coin from a fairly new member. I arranged an escrow through an established member here. Gave him a few bucks to do it. It worked out fine.
For a $150 coin though, that isn’t worth it. Like @jmlanzaf said, that 3% PayPal fee is a small price to pay for security.
Agree on $8,000, but on a coin that has a value of $150, it doesn’t make much sense. Would I want to lose the $150, no. But on the other hand $150 won’t hurt me, while $8,000 would sting for a while.
The "insurance" scales. It would only cost you $1.50 to insure.
And the $8000 wasn't one coin. It was a while bunch of $150 coins from different people.
All comments reflect the opinion of the author, evn when irrefutably accurate.
If they communicated clearly, had a normal demeanor, and my spidey-senses didn't go off, I'd risk it for $150.
I would look at your profile and see you’ve been here since June so I go into cover my ass mode. You take PayPal GS (which makes me a hypocrite I know because I won’t take it) or you ship to me first. No one has anything (coins) I need that bad.
We all where new once here or there. Send me the coin and I will pay you for it or I’ll buy it somewhere else it’s up to you.
Hoard the keys.
I have only had positive deals on BST. But I have also read of the horror stories that have happened over the years. Years back it was not uncommon to see other members recommend the scenario that Slowhand described. Both parties would send items to a well respected member and that member would verify all was good and forward on to the recipient. I never needed to go that route but for something expensive it would be worth the piece of mind.
Coin escrow I like it. New business get on it.
Hoard the keys.