I got fingerprinted today

IrishMike · February 15, 2007 7:56AM

Decided to take advantage of the price of silver and unload some SAE's at $13 (bought at 6) and headed to the one and only local coin shop. Not only did I have to produce a drivers license, which he photographed but had to sign a receipt, give him my phone number and place a thumb print on the sheet. When I asked him why he replied the South Bend police department required it as a discouragement against theft. Anyone else have a similar experience?

NICK72 · February 15, 2007 7:58AM

The helll if I would have done that. Thats BS if you ask me. I would have walked out.

joeyuk · February 15, 2007 7:58AM

Not the thumbprint, except once while cashing a payroll check.

mozeppa · February 15, 2007 7:59AM

yep...'cept i used a fake thumb print.

ttown · February 15, 2007 8:01AM

<< Decided to take advantage of the price of silver and unload some SAE's at $13 (bought at 6) ? >>

You sold silver at a roll price of $260 for SAE's? Man you should have posed that on the BST they wouldn't have lasted an hour.

291fifth · February 15, 2007 8:02AM

Many of those laws have been around since the 1979-80 gold/silver run up. Coin dealers got a reputation as "no questions asked" places to dump stolen merchandise. Silverware would often be offered still in the pillowcase the thief used to carry it in.

AU58WALKERS · February 15, 2007 8:04AM

<< Decided to take advantage of the price of silver and unload some SAE's at $13 (bought at 6) and headed to the one and only local coin shop. Not only did I have to produce a drivers license, which he photographed but had to sign a receipt, give him my phone number and place a thumb print on the sheet. When I asked him why he replied the South Bend police department required it as a discouragement against theft. Anyone else have a similar experience? >>

Not bad at all.

Try buying a full auto UZI and see the hoops you have to jump thru.

ttown · February 15, 2007 8:04AM

BTW you got ripped bad....these should bring spot silver at the very least all rolls on Ebay are $300+ plus shipping.

mach19 · February 15, 2007 8:07AM

It will be a cold day in Hell. PERIOD

HonoluluDude · February 15, 2007 8:11AM

<< Decided to take advantage of the price of silver and unload some SAE's at $13 >>

$13 is a buck below spot. A Silver Eagle at spot should get you $15+ a piece.
What kinda dealer is that?

ricko · February 15, 2007 8:13AM

Wow... have you got more? Let us know.. Cheers, RickO

ttown · February 15, 2007 8:14AM

<< 

<< Decided to take advantage of the price of silver and unload some SAE's at $13 >>

$13 is a buck below spot. A Silver Eagle at spot should get you $15+ a piece.
What kinda dealer is that? >>

One I'd never buy any coin from. You can see he sells high and buy way low. I'd dump him, a stange coin shop should give you more unless their crooks IMO.

DUIGUY · February 15, 2007 8:15AM

They usually take all five fingerprints, right hand and left hand,,, oops ,, Thats something else all together.

DeepCoin · February 15, 2007 8:19AM

I had to get fingerprinted last month and they have new technology now, NO INK !!! It was all a digital scan, no muss, no fuss and NO Ink on your fingers for days.

DNADave · February 15, 2007 8:19AM

Reminds me of Germany.

"Do you have your papers?" at every step along the way. Banks, airports, DMV. etc. etc.

500Bay · February 15, 2007 8:20AM

I used to work in a "tough" neighborhood - and in the bank they regularly thumb printed anyone cashing a check. I was shocked - I had never seen it done before. There really is another world out there - just a few miles away...

ttown · February 15, 2007 8:23AM

Hey Mike,

Call the coin shop back on Friday and ask how much he's selling the year you just sold for...it will be at least 16 bucks I bet.

ScarsdaleCoin · February 15, 2007 8:51AM

it certain counties in NY it is required...I believe Tom at Dart coins told me that in his shop he has to do fingerprint.... real pain and not very friendly for customer service...another reason brick and mortar dies while ebay thrives......

Russ · February 15, 2007 8:55AM

<< << Decided to take advantage of the price of silver and unload some SAE's at $13 >>

$13 is a buck below spot. A Silver Eagle at spot should get you $15+ a piece.
What kinda dealer is that? >>

A dealer that would like to make a profit so he can stay in business?

Russ, NCNE

ttown · February 15, 2007 8:57AM

<< 

<< << Decided to take advantage of the price of silver and unload some SAE's at $13 >>

$13 is a buck below spot. A Silver Eagle at spot should get you $15+ a piece.
What kinda dealer is that? >>

A dealer that would like to make a profit so he can stay in business?

Russ, NCNE >>

Not around here Russ, that dealer would be out of bussiness period. This stuff is too easy to sell and most walking into shops buy stuff like this.

Geoman · February 15, 2007 8:57AM

I won't have let him finger print me.

On a side note, I was killing time in my local coin show last week, when these 2 characters walk in and ask if he buys gold and diamonds. He does, and takes a look at what they have. He said he would buy them, and weighed the gold on a scale and quotes them a price. They say okay.

Then my dealer asks for a driver's license or identification, and guess what, both these characters don't have any identification on them. They complain, but my dealer won't budge. So they say they have identification in their car, and take the jewerly with them saying they will be right back. Of course, they never show back up. So I do believe in some form of identification.

Russ · February 15, 2007 8:59AM

<< << << Decided to take advantage of the price of silver and unload some SAE's at $13 >>

$13 is a buck below spot. A Silver Eagle at spot should get you $15+ a piece.
What kinda dealer is that? >>

A dealer that would like to make a profit so he can stay in business?

Russ, NCNE >>

Not around here Russ, that dealer would be out of bussiness period. This stuff is too easy to sell and most walking into shops buy stuff like this. >>

You think two to three bucks profit on these is excessive? You should seriously consider taking a business course.

Russ, NCNE

ttown · February 15, 2007 9:03AM

<< 

<< << << Decided to take advantage of the price of silver and unload some SAE's at $13 >>

$13 is a buck below spot. A Silver Eagle at spot should get you $15+ a piece.
What kinda dealer is that? >>

A dealer that would like to make a profit so he can stay in business?

Russ, NCNE >>

Not around here Russ, that dealer would be out of bussiness period. This stuff is too easy to sell and most walking into shops buy stuff like this. >>

You think two to three bucks profit on these is excessive? You should seriously consider taking a business course.

Russ, NCNE >>

$16 from a dealer is a pipe dream at these prices but 15% is high on a commodity like silver or gold. These aren't rare coins ya know and easy to hock. Singles are higher than rolls that are $300+ and shipping, I hope Mike calls on Friday, he maybe surprised at the deailer ask price.

There's no guessing at it's worth or waiting for the right client.

Russ · February 15, 2007 9:07AM

<< $16 from a dealer is a pipe dream at these prices but 15% is high on a commodity like silver or gold. >>

A margin of 15% is not "high" for anything. In some business, that margin would be the rapid transit lane to bankruptcy.

Russ, NCNE

ttown · February 15, 2007 9:10AM

<< 

<< $16 from a dealer is a pipe dream at these prices but 15% is high on a commodity like silver or gold. >>

A margin of 15% is not "high" for anything. In some business, that margin would be the rapid transit lane to bankruptcy.

Russ, NCNE >>

Well you can sell your stock at a 15% loss if you want but 90% of all customers here at coin shops are either buying or selling. Our coins shops here don't like to take 40% Kennedy's but they will for less than that and bulk sell them when they get a bag or half a bag just to keep their customers.

commoncents05 · February 15, 2007 9:10AM

I agree with Russ, this allows a little cushion for the dealer too if prices were to fall before he was able to wholesale them. He's in business to make a profit, not simply break even.

-Paul

ttown · February 15, 2007 9:12AM

<< I agree with Russ, this allows a little cushion for the dealer too if prices were to fall before he was able to wholesale them. He's in business to make a profit, not simply break even.

-Paul >>

Hey PM me with these stupid prices, I need to make a little fast money. Just goes to show you collector shouldn't be commodity investors or investors shouldn't be collectors expecting to make money.

TwoSides2aCoin · February 15, 2007 9:12AM

Mike sold his silver at 13 which he bought at 6. The issue isn't whether he got ripped, because he didn't.
The issue is the fingerprinting and invasion into his privacy for selling the silver at spot. I hope they at least gave you a certificate for a Happy Meal™.

ttown · February 15, 2007 9:15AM

<< Mike sold his silver at 13 which he bought at 6. The issue isn't whether he got ripped, because he didn't.
The issue is the fingerprinting and invasion into his privacy for selling the silver at spot. I hope they at least gave you a certificate for a Happy Meal™. >>

Did silver drop almost a buck? Really in this case Mike would have made less than 6 bucks more but avoided a hassle, that's ok but this isn't a dealer I'd ever do bussiness with since you can see his model and ethics. Most people with real coin shops trade at the rate to draw customer and keep them coming back, this isn't one of them. I alway call all coin shops in my area to check the price and deliver within the hour and they honor they're quote on the phone, glad I don't live in some of you people's areas.

IrishMike · February 15, 2007 9:26AM

You guys make me laugh sometimes, actually I checked Kitco and got a price of $13.92 which I negotiated. I have been doing business with this family since the early 70's and they have given me free reign to go through inventory and priced many coins for me at super prices. I didn't realize the details were so important. It wasn't worth the hassle to try and sell them any other way and I was shopping them for some Vams and had a nice hour long coin conversation. Besides where did I say I sold a roll? It is nice to see you guys ever vigilant. I am at an age where a few bucks means so little, not worth ebay hassles.

Geez if they made a killing off them at that price good for them, so did I, we both won.

TwoSides2aCoin · February 15, 2007 9:26AM

<< 

<< Mike sold his silver at 13 which he bought at 6. The issue isn't whether he got ripped, because he didn't.
The issue is the fingerprinting and invasion into his privacy for selling the silver at spot. I hope they at least gave you a certificate for a Happy Meal™. >>

Did silver drop almost a buck? Really in this case Mike would have made less than 6 bucks more but avoided a hassle, that's ok but this isn't a dealer I'd ever do bussiness with since you can see his model and ethics. >>

With your assessment, I somewhat agree, but Mike took his stuff in tow and when a guy does that, you can expect he will always sell low. This is not a question of ethics but of economics. I didn't hear Mike complaining about the price he received.
The fingerprinting was established because of unethical behavior on the criminally minded and I doubt the dealer or Mike feel deviant or victimized in their transaction... and the law has established some semblance of order by trying to keep track of the movement of BULK. It's all okay

Respectfully,

Joe

IrishMike · February 15, 2007 9:29AM

Every banking job I've had for the past ten years required a full print job. I wasn't offended, sort of glad they are trying to cut down on crime. You cash a payroll check around here at a grocery store and guess what.......yep thumb print time.

tmot99 · February 15, 2007 9:37AM

I don't see the fingerprinting as an invasion of privacy. It's not your address is embedded in it. Should a crime have occurred and this was stolen silver, they could track you down. What's the big deal?

As far as pricing goes, a 15% margin is nothing. In manufacturing, a 4X markup is common to cover all of your expenses and still make money.

TwoSides2aCoin · February 15, 2007 9:47AM

<< I don't see the fingerprinting as an invasion of privacy. It's not your address is embedded in it. Should a crime have occurred and this was stolen silver, they could track you down. What's the big deal? >>

Not only did I have to produce a drivers license, which he photographed but had to sign a receipt, give him my phone number and place a thumb print on the sheet. When I asked him why he replied the South Bend police department required it as a discouragement against theft.

It's no big deal to me, boo boo

I didn't start the fire.

Jcarney · February 15, 2007 10:08AM

<< Decided to take advantage of the price of silver and unload some SAE's at $13 >>

Why would you sell SAEs at $13?! You would've done much better on the BS&T.

Shoulda read the whole thread....

elwood · February 15, 2007 10:18AM

<< One I'd never buy any coin from. You can see he sells high and buy way low. I'd dump him, a stange coin shop should give you more unless their crooks IMO. >>

Oh ya..the dealer made a killing....if he wants to sell them to a bullion buyer, they'll pay the dealer .20-.30 back of spot.

What's silvertowne paying for SAE's these days??

The fact is that very little of dealer purchases are sold retail but are sold wholesale.

Bochiman · February 15, 2007 1:32PM

<< The helll if I would have done that. Thats BS if you ask me. I would have walked out. >>

Why? Got something to hide? The government after you or something?

My prints are on file from the US Military when I was in. Wouldn't make a bit of added difference to me.

notwilight · February 15, 2007 1:43PM

I've been fingerprinted a few times when I didn't have a choice...I'm finger printed occasionally as a condition of employment at a secure facility. My fingerprints are on file as a condition of buying firearms here in CA. I get fingerprinted every time I sign a notarized document. And my credit union now fingerprints me whenever I deposit 5 digit checks. In all these cases the idea was positive identification in case of a crime. I had no problem with it. --Jerry

LincolnCentMan · February 15, 2007 2:06PM

Dude, if someone required my thumb print to complete a coin transaction, there would be a transaction.

-David

Bear · February 15, 2007 2:09PM

Next will be a DNA sample.

garsmith · February 15, 2007 2:12PM

Sounds like an invasion of privacy to me! You should have go to fleebay or the BST's

dcamp78 · February 15, 2007 3:35PM

When I lived in GA, you had to give a copy of your thumb print to get your driver's license.

When I got my concealed carry permit, they took prints from all of my fingers and opened a file at the FBI.

Big Dave

srkjkd · February 15, 2007 4:18PM

i live in indiana also and there are some laws which apply to these sales. the laws apply to pawn shops in indiana also. i'm not certain about fingerprints at all locations, but it is in some municipalities. its meant to help track down stolen items as the dealer doesn't want popped for recieving stolen goods either. they fingerprint when you go for your concealed weapon permit, but even with one, they still background check and won't let you walk out of the store regardless until its approved. they don't even ask for it at gunshops and there is close to a 60% hold rate for checkups. i have seen cops in uniform have to wait on a background check and pick up their new gun 3 days later because they couldn't get approval immediately. (just a side note )

Elcontador · February 15, 2007 5:14PM

Many professions require licensees to be fingerprinted. Ie., I think I was fingerprinted as a requirement to get my license to practice accounting.

lordmarcovan · February 15, 2007 5:22PM

I wouldn't have a problem with giving a thumbprint, as long as they gave me something to wipe the ink off with afterwards.

Having recently bought some coins from members of the general public, I realized I had no way of telling whether what I had just bought was stolen or not. If I were a regular shop owner instead of an absentee antique mall consignor, I would probably photocopy driver's licenses when buying coins from folks, just to cover my own butt.

In fact, a funny thing happened to me recently when I was out metal detecting in the park. A fella I'd met once before rode up on a bicycle and there, in the middle of the park, offered to sell me a 1901 Liberty nickel. It was a decent Fine coin. We haggled and I gave him something like three bucks for it.

I found the whole idea of doing a coin deal in the middle of the park so amusing that I took the guy's picture, bicycle and all. I was gonna post it as part of the tale of one of my "Digger's Diary" episodes, with a tagline like, "I was looking for coins and this one came looking for me!".

The guy posed for my picture, but the minute I mentioned how it would make a humorous Internet posting, his whole demeanor changed and he got downright antsy. I finally promised him I would not post his photo on the Internet. He was a nice fella and I always assumed he was on the level, but I am a trusting soul. After seeing his change in behavior, I wonder if he really "found that coin in an abandoned house" like he said, or took it from a not-so-abandoned house. Hm. Sometimes I am too trusting.

I got fingerprinted today

Comments

Leave a Comment