A Dealer offers you a finest known Top Pop coin

STEWARTBLAYNUMIS · September 6, 2005 11:07AM

And suddenly it appears in a major auction

Do you punch the dealer in the face ?

Try and talk ethics with the dealer ?

Walk away and never speak to the dealer again ?

Any other suggestions ?

Stewart

of course I bought the coin.I have "sucker" written across my face.

TomB · September 6, 2005 11:10AM

I'm not sure I understand the sequence of events here; if the dealer offers a coin and then it appears at auction there must have been some time in between where you gave a response. If no response was given, perhaps the dealer was in a time crunch and had to be certain the coin would move.

Windycity · September 6, 2005 11:11AM

Did the dealer give you a date by which a decision was needed?

chabot510 · September 6, 2005 11:15AM

what price did he offer it at and what did it hammer for?

coinbuf · September 6, 2005 11:19AM

<<of course I bought the coin.I have "sucker" written across my face.>>

Bought from the auction?? Wierd sequence of events.

Chris

STEWARTBLAYNUMIS · September 6, 2005 11:21AM

the dealer jerked me off for six months and picked my brain for every available bit of information.I made offers and everything imaginable to make him understand I was THE SUCKER for the coin.And the Dealer lied to me to boot.

stewart

BigE · September 6, 2005 11:24AM

Thanks for clarifying things------------BigE

billboat · September 6, 2005 11:25AM

I certainly wouldn't call or send flowers--guess you really wanted the coin. Hope you'll never deal with him again--IMO you have every right to be upset.

jacktheknife · September 6, 2005 11:25AM

Mark,

I know absolutely nothing about what has transpired, but I would be willing to bet money that if I took a guess I would be right.

Jack

BigE · September 6, 2005 11:26AM

Lets bash the dealer anyway, I'm bored---------------BigE

TomB · September 6, 2005 11:28AM

I like your thinking, BigE.

coinbuf · September 6, 2005 11:30AM

Ok so out this jerk! The rest of us Lincoln guys want to know.

Chris

DMWJR · September 6, 2005 11:30AM

So he strung you along, pumped you for information and then offered it for sale to everybody else through auction?

That would probably piss me off too.

jacktheknife · September 6, 2005 11:33AM

Mark,

Dang, I would have lost my money. I just checked on my hunch and I was wrong. Now my brain is really churning. C'mon Stewart, out with it. Now, I gotta know.

Jack

onlyroosies · September 6, 2005 11:38AM

Stewart

It sounds like the dealer was asking one price, You offered another. You spent 6 months trying to
convince him it was only worth your offer price. He disagreed and put it in an auction. I don't see
a problem with that. What was the out come?, Did you end up paying more or less for the coin?.
Same question worded a little differently. Who was right about the price?. You or the dealer?.

STEWARTBLAYNUMIS · September 6, 2005 12:08PM

Doug - Your absolutely correct.I would like to add that I was maliciously lied to so this dealer could milk this coin for every cent.

Mark aka Coinguy1 -Why does it seem that you are the ONLY person who never understands me.

Big E - Its leaning this way as the dealer is avoiding me dramatically for the first time since I've known him.He also knows I busted him.

Only Roosies - The dealer approached me saying a womans father bought the coin and has died.He paid $600 for the coinWhat the dealer lied about was that he had already gagged the daughter and owned the coin.

Laura - Yes the dealer had a partner.One extremely greedy PIG and another (I'll do anything) A$$hole.And both of these guys are multi- millionaires.

Stewart

Stewart

jacktheknife · September 6, 2005 12:35PM

You sound like you've been around the block

Oh, Stewart has been around the block alright, probably more than once!!

Jack

sinin1 · September 6, 2005 12:45PM

I wish DOOPS was around to put this into speak i canmake headsntails of cuz i not surr whatyous tryingto sauy - Unegotiated for 6 months overa $600 penny and thedealer had enough and just let itgo for auksbun? Was it a slamdunk CAMEO?

Lincolnfreak · September 6, 2005 12:47PM

Ronyahski,

Stewart's a legend, uhmm, I mean dinosaur

lloydmincy · September 6, 2005 12:51PM

OK Stewie, here I come:

I agree. 6 month squabble over a measly $600-type coin??? You AND the dealer have too much time on your hands.

I'll see you at Long Beach. I'll take you out to dinner.... you can order anything up to $600!!!!

Jack: Tell me what coin it is that Stewart needs/wants and is in the auction, so I can bid on it.

ColonialCoinUnion · September 6, 2005 12:53PM

<< Any other suggestions ?

Stewart >>

Yes, I have a suggestion: Try to relax. You seem very, very tense.

100proof1957 · September 6, 2005 1:27PM

Seems like a lot of trouble for 600 bucks

Finest known for 600 bucks ? i think not,less its its a modern piece o crap.

I dont think stewart deals in ms70 state .25

Stewart,how bout smoe mo details ?

Proof

Ronyahski · September 6, 2005 1:27PM

<< Ronyahski,

Stewart's a legend, uhmm, I mean dinosaur

>>

A legendary dinosaur?

tradedollarnut · September 6, 2005 1:31PM

Wouldn't the seller be better off selling to you directly if you are THE sucker and not just A sucker if for no other reason then he could save on the juice?

Why do that when you can play a game of chicken and have Stewart bidding against the potted palm in the back of the room?

relayer · September 6, 2005 1:37PM

Here's what happened.

The dealer ripped a 1915 Lincoln from the dead collectors daughter for $600 and submitted it to PCGS where is was graded MS68 RD.

Stewart offered him $1,200 for the coin, then $3,500, then $10,000 and then $15,000.

When the coin went to auction, he bid $28,482 and won the coin.

tradedollarnut · September 6, 2005 1:50PM

The dealer ripped a 1915 Lincoln from the dead collectors daughter for $600 and submitted it to PCGS where is was graded MS68 RD.

Stewart offered him $1,200 for the coin, then $3,500, then $10,000 and then $15,000.

When the coin went to auction, he bid $28,482 and won the coin.

OMG! Who does that dealer think he is - Saintguru?

STEWARTBLAYNUMIS · September 6, 2005 1:51PM

Tradedollarnut - You banged the nail on the head

Relayer - Your close.I offered $20,000 for the $600 coin the dealer bought for squat.I wound up paying double that amount.And then the POS dealers told me the girl from nowhere consigned her $600 coin to auction.

stewart

jacktheknife · September 6, 2005 1:57PM

Lloyd,

You've been in Florida too long! Stewart's after that awesome 13-P in 67RD that's in the Heritage auction!

Jack

leothelyon · September 6, 2005 2:19PM

Been there, done that! I've had guys tell me that they'll just send the coins on approvel and I'd wait and nothing happens. A couple months would go by and I would check back to see how things are going, I'd never get upset or show my frustrations and play out the role again of being understanding for whatever reason there might be............it really takes alot of patience and eventually some coins have come through but not all of them. I've had a collector friend or two that I've known for years just totally forget me when they went to sell their collections but that's life!
The guy played you and you let the guy string you along. What can you do? You had hopes that the guy was seeing you eye to eye but greed gets in the way with these things and sometimes it's hard to accept.
Life goes on! Perhaps you should look futher down the road for this coin since you know what it's worth.
You'll only screww yourself if you pay more.

Leo

100proof1957 · September 6, 2005 2:25PM

sTEW,

YOU paid 40 k

The POS dealer paid 600 and ripped the client ?

should you both not be shot at sunrise ?

tradedollarnut · September 6, 2005 2:28PM

Sometimes, you've got to overpay to build a great collection. Sometimes, you have to say no.

The trick is knowing which is when...

classiccoin · September 6, 2005 2:40PM

watching stewie pitch fits over his little top pop small cents is worth the price of admission here..watching him fall for every sucker play in the book is even better..lololol

100proof1957 · September 6, 2005 2:53PM

Guess im really confused here.

You offered 40 k for a 600 buck coin and it goes to auction anyway ?

that would be on the advice of the dealer that you know and love ?

dealer gets punched it the face in public and gets outted here for being a scum sucking dog !

Proof

bullseye · September 6, 2005 11:18PM

It didn't sound like you were going to get the coin anyway....

RBinTex · September 7, 2005 12:04AM

If anyone that was a member here ripped the girl's dead father's coin I think they should be outed. What a lowlife scumbag thing to do.

AlbaJohn · September 7, 2005 12:07AM

Dear Stewart- You're a collector, and a huge asset to the business. You should never, never, ever have to make an offer to a dealer, especially on a Pop-1 coin. For a dealer to ask is highly unethical. Remove him from your rolodex, at least for this life-time.
John Albanese

tradedollarnut · September 7, 2005 12:12AM

Welcome aboard, John - we're not worthy!!!!!

tradedollarnut · September 7, 2005 12:17AM

If anyone that was a member here ripped the girl's dead father's coin I think they should be outed. What a lowlife scumbag thing to do.

Hold on now - how is that any different than Saintguru's score the other day? Don't forget that this is a coin that is probably worth $1,000 in the undergrade, so almost every cent of profit was predicated on getting the grade [unlike SG, who paid for 3 grades less so he had profit no matter if he didn't get the grade].

Barry · September 7, 2005 12:48AM

Don't forget that this is a coin that is probably worth $1,000 in the undergrade, so almost every cent of profit was predicated on getting the grade

Do you think the graders sometimes get in a playful mood, decide to create a pop-top when the opportunity is there, then sit back and laugh as the registry lemmings go nuts over it?

DMWJR · September 7, 2005 1:49AM

To me, it has nothing to do with whether the people involved are dealers or collectors, or what particular coin it is. It is the treatment of people that is at issue. Toss out the fluff and look at the facts we know:

1. We all no that Stewart is the number one collector in his series. I don't just mean that he has the best set, but he has an extremely deep knowledge in the series that I know he collects, i.e. lincolns, indians, barbers, Canadian copper.

2. The dealer knew this and wanted information about the value of the coin and its marketability.

3. My personal experience with Stewart is that he is honest when discussing coins. He could have told him that the grade was a gift and he has 4 more in the undergrade that are nicer and waited for the coin to come back around. My guess is that he told the dealer it was a real finest known and that he wanted to buy it.

4. The dealer played him, and used Stewart's knowledge of the coin to market it to other collectors and tossed in the air at auction for the highest price.

My view is that the dealer took advantage of him. Say what you want about Stewart, but my personal experience with him is what counts to me. I have a coin in my collection that I think he would like to have. When we discussed the coin, he made no bones about how nice the coin was, and that it was the nicest one he had ever seen. I asked him why he wasn't trying to buy the coin from me, he said "it hasn't been offered to me." That shows respect. I don't have any intention of selling my collection right now, but when I do I will call him about that coin first.

GOLDGUY · September 7, 2005 6:15AM

<< will also remind you that I purchased a special Proof Lincoln Cent for my COLLECTION for a Worlds Record Price and "you were part of the deal". >>

Stewart -- Although we have done numerous transactions with you over these many years. I'm going to assume I know EXACTLY the deal you're referring to (the one that includes poor Scott Schechter trudging through a NYC snow storm)? I'm further assuming that you are referring to this incident as an example of how this type of transaction SHOULD be handled ethically?

(Edited for a typo in Mr. Schechter's name). Sorry.

dorkkarl · September 7, 2005 6:16AM

<< A Dealer offers you a finest known Top Pop coin And suddenly it appears in a major auction >>

tough bananas. go to the next coin deal.

K S

elwood · September 7, 2005 6:43AM

<< A Dealer offers you a finest known Top Pop coin >>

<< And suddenly it appears in a major auction >>

Stewart

I'm suprised that you're suprised?

If it's someone you've done business with and have had a good relationship with, then I think you need to confront them and give them your perspective of the deal. Give'm a piece of your mind.

Otherwise walk away and never do business with them again.

elwood · September 7, 2005 6:44AM

Oh, did they ever quote you a price for the coin?

morgannut2 · September 7, 2005 8:12AM

Without Stewart's filling in the facts, it's unclear, but I've seen enough explanations here about "hidden Registry" sets that I can guess what happened. First-- the dealer seems not to have "ripped" the collector's daughter--he raped the girl out of a PCGS MS68 graded back into 1988. Then, since only an idiot wouldn't auction a pop 1 MS68 coin to get the best money (and a kick-back on the vig) --he had a little fun and tried to get offers out of Stewart. I'm sure he had a great time telling his hidden partners what Stewart said. Then he tried to claim that the daughter still had an interest in the coin.

I wish Stewart had the guts to pass at auction at let a " potted plant" bidder buy the stupid penny.

Russ · September 7, 2005 8:41AM

<< Do you think the graders sometimes get in a playful mood, decide to create a pop-top >>

I keep hoping.

Russ, NCNE

A Dealer offers you a finest known Top Pop coin

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