Is it too much pressure on a dealer when you say, "get me out of this mistake purchase"?
Longacre
Posts: 16,717 ✭✭✭
I have never done this, because all of my purchases are made with sound and reasoned judgment. 
But has anyone made a purchase that they later deemed to be a "mistake"? Suppose further that you call your favorite dealer (you did not buy the coin from him), and you say that you made a mistake and you want to try to get all of your money back, or close to it. Do you think it is fair to burden the dealer like this? In a way, I look to my coin dealer almost like a priest or rabbi, where you only tell your deepest, darkest secrets to. Or is it part of the dealer's job to try to help you sell the coin, and even though he can't guarantee a zero loss to you, it is fair to ask him to get the best price, given your circumstances. What do you think?
But has anyone made a purchase that they later deemed to be a "mistake"? Suppose further that you call your favorite dealer (you did not buy the coin from him), and you say that you made a mistake and you want to try to get all of your money back, or close to it. Do you think it is fair to burden the dealer like this? In a way, I look to my coin dealer almost like a priest or rabbi, where you only tell your deepest, darkest secrets to. Or is it part of the dealer's job to try to help you sell the coin, and even though he can't guarantee a zero loss to you, it is fair to ask him to get the best price, given your circumstances. What do you think? Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
I would say that is not his responsibility, why if you made a mistake would you expect somebody else to make that mistake?
If you bought an MS 66 Peace Dollar and then decided to collect Saints, I am sure the dealer will help you.
If you got hoodwinked on a POS the dealer may help you (i.e. wholesale it out) but don't expect to get more than a small fraction of the purchase price.
A dealer isn't going to give you more than fair value just because you overbid something in an auction. There
is no reason for them to lose money for your mistake.
unlkess you work with him and he is your friend and you are his customer then he will try to maximise the selling aspect of it and most likely give you most if not all of the proceeds
but depending on how he will market the coin it will take him a little while longer than a few days
When one develops a strong relationship with one or two dealers, this is one of the potential benefits.
According to my wife, all of my purchases are mistakes
Diamonds, OTOH, are a FAR better use of my money.
Dealer as Rabbi, huh?
Oy Vey.
I'd hate to think that I'd ask anybody to pass off a POS just to cover my butt;
I'll take my lumps if neccessary - but where there's a willing buyer and a motivated seller,
something'll come of it.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Wondercoin
And my answer to that would be "yes".
Partner / Executive VP
Heritage Auctions
However, let me tell you a true story. An occasional customer came in and looked at a (top two grading service) MS-61 1932-D quarter, and did not buy it, complaining that the price was too high. About a month later he comes in with one in one of the no-name slabs graded MS-60 that he bought on eBay for around $600. I called it an EF-40, scratched and polished, and suggested he return it.
Another month goes by, and he comes in and says the seller will not refund his money, and that Paypal will not reverse the sale without something in writing from a grading service debunking the "slab" grade. He has the audacity to hand me a letter he typed up over my name quoting my earlier comments, and asks me to sign it so he can send it to Paypal.
I ran it through the shredder, and then offered to try to find a grading service he can submit the coin to that will give a more detailed no grade slip. I even called a friend at one of the services and arranged for him to do so. I then tell the guy that'll be the standard grading fee plus postage both ways, and he says he'll have to think about it. So far he has not had the nerve to come back in the door. He is wise not to do so.
TD
I think that dealer was too nice and lacked the knowledge (the eye) to make it in the rough and tumble world of coins. As far as I know, he is no longer a coin dealer.