Forget the ethics! Let's play dirty.

cherrypickincoin · September 4, 2003 3:09PM

It seems like every day there is a new thread on ethics so here, spill the beans. What is the most unethical thing YOU have done that has something to do with coins that you later regretted or even that you didn't regret, depending on what kind of person you are.

We're all sinners, don't be shy. Something tells me I'm going to get very few replies to this thread.

stman · September 4, 2003 3:27PM

Ok ready? Local dealer I've known for over 20 years shows me a 20.00 gold piece in 65. He thought it was a 63 and quoted me the price of 63. I could have gave him the cash and been gone. He had so many at the time, I honestly don't think he'd have ever noticed.

What did I do? I said you sure? He say's "if you don't want it give it back." I then showed him what he had handed me. True story. And I've felt bad I didn't keep it ever since.

You probably thought coming from me it was gonna be a real bad story huh?

numobri · September 4, 2003 3:43PM

A guy at work sold me five 1994 proof(clad) sets still sealed in a box.Payed him,took the coins home and opened the box.Surprize,five silver sets.

Sorry,couldn't burn the guy,gave'm back and got a refund,he was happy.

ohbaby · September 4, 2003 4:10PM

I cherry picked a Seated Half variety from Heritage inventory. Was worth 44% more than what I paid.

Is that ethical? No one said done deal but it was paid for in cash.

CapAnson · September 4, 2003 10:01PM

When I was first starting out as a teenager I had a friend who always had to outdo me, so he got into coins as well. He had a wealthy family though so he could always get better stuff. So one day he shows me a BU 1860's IHC he got (far better than anything I had in my collection) and started lording it over me. "It's the best cent the dealer ever sold" he said. "It's only been touched by human hands three times in 150years" he said. What could I do? I reached out, put my big ole' finger right against the coin, and said "Well, that's four now". I was naive about coins then. Fortunately so was he otherwise I would probably have been shot.
I guess that's not unethical so much as just plain mean.

barberlover · September 4, 2003 10:22PM

I remember how dealers screwed me over when I first started buying my own coins and I bought the coins before I bought the books, so when I did learn how to grade I thought the best way to get back at the local dealers was to cherry pick there raw coins.

There are alot of people here that do that so I know even if you don't talk about it, you do it to.

Cherry picking classic coins [other then morgans] isn't as easy as it used to be [less to pick from]
I still see the dealer who sold me a raw Saint for 63 money that I made a 64 from in 89 at the larger local show and I always check his raw coins first.

I would have a real problem taking a widow or a kid to the cleaners to make some money, but doing that to some of the dealers I remember from 30 years ago would not cause me to lose any sleep.

Les

Fairlaneman · September 4, 2003 11:08PM

Retoned a dime.

Bought the coin raw at a certain grade and sent it to one of the Big 3 and it did not get the grade. When it came back it was cracked out and a little work was done on it then it was resubmitted to a different Big 3 service and got the grade I really thought it deserved.

Still to this day I regret doing this but I cannot do anything about the problem because the coin was sold to a person that was not known. Now the thought of doing this again never enters my mind.

Was I unethical.......yes I was.

Ken

seanq · September 4, 2003 11:16PM

About the worst thing I can recall was back in college. After I'd cherrypicked a BU 1941 DDO#1 from the local bid board, I came back a few weeks later and bragged a bit too much about my score. Everything was done by number, so I had no idea who the seller was, but apparently he was also in the store at the time. The owner took me aside and told me to pipe down.

Not so much an ethical lapse but poor judgement and a lesson in humility and respect which I have not forgotten.

Sean Reynolds

kranky · September 5, 2003 1:19AM

When I was about 14, a friend and I would go to small local shows when we could get one of our parents to drop us off. I had paper route earnings (maybe $10-20) and my friend would have his allowance saved up. We'd go our separate ways at the show and when we met back up to compare what we got before getting picked up, my friend always managed to have gotten unbelievably good deals compared to what I would get. I just figured he was lucky enough to find some dealers that gave big breaks to kids.

Then one day he had a really nice coin (don't remember exactly what it was) that I thought should have cost $50 easily, and he said he got it for $5. At that moment I had a flash of insight and realized what was going on - he was stealing coins, not buying them. I confronted him and he admitted it.

And I continued to go to shows with him, knowing what he was doing. I wanted to go to coin shows so badly I didn't do anything about it.

morganbarber · September 5, 2003 1:45AM

As part of my father's estate, there were a large number (less than 100) of Morgan and Peace dollars. Almost all were lousy, common dates and worth barely more than melt. Most dealers did not want to offer much sight unseen for dollars that I admitted were cruddy. The one who offered the highest floor price, and maybe more, got my business. Among the group was an 1886-P which looked to me to be MS65, with a better chance for 66 than 64. The dealer said that the coin was tampered with, and only offered $8.00 for it. I said that for eight bucks, I would keep it and substitute a cheap junk Morgan of my own. When I did the $25 B&M PCGS special, I decided that among my four free submissions, I should include a Morgan dollar. That 1886 was the nicest raw one I had. It came back BB'd for "altered surfaces". Although I still feel bad about it, I ended up selling it to another dealer for $22.00. I am not at all proud of this, but needed cash, and was tired of holding on to the cursed piece. Thanks for the opportunity to get this off my chest. Forgive me, numismatists, for I have sinned.

poptopsRus · September 5, 2003 2:19AM

I once bought an error coin from a collector for $200. I sent it in and had it graded then placed it into inventory for $260. It sat in inventory for 2 months so I put it on Ebay. It brought $4000 plus S&H on ebay, and the buyer was very happy about it.
The next week I was able to contact the guy I purchased the coin from and told him I needed to talk to him about the error he sold me (I know this made him a little nervous about the authenticity of the coin). I stopped by his house with $3000 in cash and gave it to him explaining the situation. The next week he showed up at my shop with 3 boxes filled with coins he wanted to sell.

baccaruda · September 5, 2003 2:30AM

These aren't dirty stories at all.

Forget the ethics! Let's play dirty.

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