If the buyer owns a B&M coin shop and knows the seller contact info.................
The right thing to do is cut him "some" of the profit.
I'm not a dealer, but I disagree entirely with cutting the seller some of the "profit". There was no foul in the way that this transaction came down. Besides his time, the dealer has developed a specialized knowledge and he wasn't on a paid retainer by the seller to evaluate the coins for the seller.
I don't know about you, but my time and expertise are worth something, and so are the OP's. If the seller had bothered to learn about coins and to spend the time studying the coins that he was about to sell - only then should he think about being rewarded. Doing nothing and expecting a windfall just doesn't cut it, imo.
BTW - that's actually a decent-looking circulated Morgan, the way a circulated Morgan oughta look. Congrats!
Q: Are You Printing Money? Bernanke: Not Literally
Totally agree, and what's more, the original seller is happy, he sold junk silver, he got paid for junk silver, he never bothered to learn if his stuff was worth more than junk.
<< <i>you guys want to take this to an extreme. >>
I'm not the one trying to explain how a seller actually intended to sell a $500 coin for melt, and that it wasn't a mistake on his part. Making that argument seems to me to be extreme...
<< <i>And post a picture of the box, if you have one! >>
>>
Although I disagree with everyone jumping on the lambasting wagon. I think I have seen every member give Marty a you "suck" and a "what a find" everytime he cherrypicks a cameo or error proof set at a show or B@M. I can't see why this is different. Someone who collects silver knows what he has.
If the guy called back and asked Gary if he accidently left the CC Morgan in with the lot of silver and Gary said NOPE didn't see it. I might feel different. As a member who deals with Gary weekly he has always treated me fair. Just a few weeks ago he gave me a Mint Commem that meant something special to my son at his cost, well below Redbook and Ebay prices.
Now back to the reason I quoted your post..
That is a SWEEEEEEEET looking box!!!!!!!!!!!!
And yes in your situation I would feel an obligation to notify the seller.
<< <i>you guys want to take this to an extreme. >>
I'm not the one trying to explain how a seller actually intended to sell a $500 coin for melt, and that it wasn't a mistake on his part. Making that argument seems to me to be extreme... >>
Wow, i wish i could live in a world where when you made a mistake someone would hold your hand and comfort you and make everything better. But this is the real world, where mistakes are made and you cant do anything about them. How about some responsibility on the sellers part instead of it always being on the buyer? Would you say the same thing if someone picked up that coin out of a bargain bin, and demand the buyer compensate the dealer, who also obviously made a mistake?
<< <i>uh-oh, here comes the moral cop to make you feel unethical. >>
Nice try. If he honestly didn't know, it's a done deal. There was no intent to rip someone.
He says he didn't know, so IMO it's not unethical.
If he KNEW he had an '89-CC when he offered junk silver money, that would be unethical. IF a buyer in this case has the ability to give additional compensation, IMO that's the right thing to do...but if it was a random person with no contact information, there's not much one can do.
Nope! Because in the case of my dealer, if I ever find a "mistake" that he should've caught, he emphasizes -- more power to me. Same situation here, the seller of the junk silver said "these are junk silver" and didn't bother to find out any different.
After thinking for a while about this thread, I'm inclined to say nice job Gary. You didn't know that coin was in there, you bought the lot as junk per the seller and that's what you expected to get. I can't say I wouldn't be thrilled to find it. I don't understand why numismatics is so different than EVERY other sector. As someone posted above, knowledge IS power. Those who use their knowledge get ahead in life. There was nothing stopping Gary from selling the whole lot of "junk" to Apmex. He spent the time going through everything AFTER his purchase, and got lucky. Good for him.
Utah- I admire your morals and I think it honestly depends on the situation. A while back I bought a circ. Barber quarter I think it was on Ebay for cheap (like $4 or $5 bucks I think). After a couple weeks I contacted the seller to mention I hadn't received it yet. He was surprised but wanted to make everything right. We set a date and he said if I don't receive it by then to let him know and he'd refund my money. Nice gesture from an Ebay seller on a cheap coin. He didn't have delivery confirmation on it so I very well could have been lying for all he knew. Well, 25 days went by or something ridiculous and still no coin. He refunded and we wondered what happened to it. A couple days later the beat up, dirty envelope, ended up in my mailbox. I immediately initiated a paypal payment back to him and sent a note about it. We were both happy that it arrived and he was thankful I told him about it.
I'm curious how many board members would just say "cool" and not mention it to the original seller.
GOOD FIND!!!!!!!- All these "moralistic" individuals have NO BUSINESS making judgements. there are many times when you have overpaid as most of us have so its good when you get a windfall. read my avatar "knowledge is power"
ThanX for everyones replies ! I didn't expect the big debate but it has been very interesting I have put this coin in my collection and do not plan on selling it in the near future. I will always remember this find.
<< <i>I had a guy stop by today and sell me some of his "junk silver". This is my best find in a junk silver lot to date. I think this will be very hard to top
<< <i>So did you call him back and cut him a check for another $300? >>
it gets old playing the ethics card in situations like this. the person came over to sell junk silver enmasse. are you really go to visually check 100s and maybe even thousands of coins before paying the seller? are you going to make them wait for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they agreed on a price. it is not the buyers job to inform the customer of a single coin in a pile of 100s and 1000s has more value then melt.
get real! >>
In answer to your points:
1. Ethics, you either have them or you don't. 2. I have had MANY customers bring in 3000-4000 silver dollars, and yes, I do check them for key dates. And yes, they are willing to wait if you tell them what a rare date may be worth. 3. The seller did NOT know what he had.
On more than one occasion, I have cut an additional check to a seller for coins that I have purchased.
I guess I'm just old fashioned. >>
I too have forwarded extra money once a mistake like this was discovered. I agree that, even though the seller said they were all commons, you should send him aditional money...........
why not call the seller and offer to split the difference with him....that way you both win and "word of mouth" advertising by the seller will get you in front of more deals.......always has for me.....
<< <i> I too have forwarded extra money once a mistake like this was discovered. I agree that, even though the seller said they were all commons, you should send him aditional money............ >>
What are the chances the dealer will share some of this money with the person he bought this coin from probably paying 10X face?
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
<< <i>Get over it. The buyer owes the clueless seller nothing more. Done deal. Period. >>
We all know that IF a dealer said these words we would see 50 to 100 posts flaming his backside for it..........sounds like a double standard to me.........
<< <i>Get over it. The buyer owes the clueless seller nothing more. Done deal. Period. >>
We all know that IF a dealer said these words we would see 50 to 100 posts flaming his backside for it..........sounds like a double standard to me......... >>
I agree, so it's alright to rip someone as long as your not a dealer then it's taking advantage of someone's lack of knowledge With as much as you buy and sell I consider you a dealer that took advantage...sorry just the way I see it
Due diligence and fair market value never hurt a good businessman. May you continue to enjoy the fruits of your labor. From one coin brother to another.
<< <i>Get over it. The buyer owes the clueless seller nothing more. Done deal. Period. >>
We all know that IF a dealer said these words we would see 50 to 100 posts flaming his backside for it..........sounds like a double standard to me......... >>
I agree, so it's alright to rip someone as long as your not a dealer then it's taking advantage of someone's lack of knowledge With as much as you buy and sell I consider you a dealer that took advantage...sorry just the way I see it >>
i do not know of a single local dealer that will pick out the winners of a junk silver lot and call the person back offering more money. nor would i expect them to!
the original person who brought over the junk silver... they must have bought that CC morgan or aquired it in some way. should that person now track back the person they got it from and split that money in half too?
you must really really hate marty huh? the countless rips he has made time after time from dealers, pawn store owners, garage sales, flea markets, etc... yet he is the local hero on this board!
Comments
The right thing to do is cut him "some" of the profit.
I'm not a dealer, but I disagree entirely with cutting the seller some of the "profit". There was no foul in the way that this transaction came down. Besides his time, the dealer has developed a specialized knowledge and he wasn't on a paid retainer by the seller to evaluate the coins for the seller.
I don't know about you, but my time and expertise are worth something, and so are the OP's. If the seller had bothered to learn about coins and to spend the time studying the coins that he was about to sell - only then should he think about being rewarded. Doing nothing and expecting a windfall just doesn't cut it, imo.
BTW - that's actually a decent-looking circulated Morgan, the way a circulated Morgan oughta look. Congrats!
I knew it would happen.
<< <i>you guys want to take this to an extreme. >>
I'm not the one trying to explain how a seller actually intended to sell a $500 coin for melt, and that it wasn't a mistake on his part. Making that argument seems to me to be extreme...
<< <i>
<< <i>And post a picture of the box, if you have one! >>
Although I disagree with everyone jumping on the lambasting wagon. I think I have seen
every member give Marty a you "suck" and a "what a find" everytime he cherrypicks a cameo
or error proof set at a show or B@M. I can't see why this is different. Someone who collects
silver knows what he has.
If the guy called back and asked Gary if he accidently left the CC Morgan in with the lot of silver
and Gary said NOPE didn't see it. I might feel different. As a member who deals with Gary weekly
he has always treated me fair. Just a few weeks ago he gave me a Mint Commem that meant something
special to my son at his cost, well below Redbook and Ebay prices.
Now back to the reason I quoted your post..
That is a SWEEEEEEEET looking box!!!!!!!!!!!!
And yes in your situation I would feel an obligation to notify the seller.
<< <i>
<< <i>you guys want to take this to an extreme. >>
I'm not the one trying to explain how a seller actually intended to sell a $500 coin for melt, and that it wasn't a mistake on his part. Making that argument seems to me to be extreme...
Wow, i wish i could live in a world where when you made a mistake someone would hold your hand and comfort you and make everything better. But this is the real world, where mistakes are made and you cant do anything about them. How about some responsibility on the sellers part instead of it always being on the buyer? Would you say the same thing if someone picked up that coin out of a bargain bin, and demand the buyer compensate the dealer, who also obviously made a mistake?
<< <i>uh-oh, here comes the moral cop to make you feel unethical. >>
Nice try. If he honestly didn't know, it's a done deal. There was no intent to rip someone.
He says he didn't know, so IMO it's not unethical.
If he KNEW he had an '89-CC when he offered junk silver money, that would be unethical. IF a buyer in this case has the ability to give additional compensation, IMO that's the right thing to do...but if it was a random person with no contact information, there's not much one can do.
you bought the lot as junk per the seller and that's what you expected to get. I can't say I wouldn't be thrilled to
find it. I don't understand why numismatics is so different than EVERY other sector. As someone posted above,
knowledge IS power. Those who use their knowledge get ahead in life. There was nothing stopping Gary from
selling the whole lot of "junk" to Apmex. He spent the time going through everything AFTER his purchase, and got
lucky. Good for him.
Utah- I admire your morals and I think it honestly depends on the situation. A while back I bought a circ. Barber
quarter I think it was on Ebay for cheap (like $4 or $5 bucks I think). After a couple weeks I contacted the seller
to mention I hadn't received it yet. He was surprised but wanted to make everything right. We set a date and
he said if I don't receive it by then to let him know and he'd refund my money. Nice gesture from an Ebay seller
on a cheap coin. He didn't have delivery confirmation on it so I very well could have been lying for all he knew.
Well, 25 days went by or something ridiculous and still no coin. He refunded and we wondered what happened
to it. A couple days later the beat up, dirty envelope, ended up in my mailbox. I immediately initiated a paypal
payment back to him and sent a note about it. We were both happy that it arrived and he was thankful I told
him about it.
I'm curious how many board members would just say "cool" and not mention it to the original seller.
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
<< <i>YOU SUCK! >>
That says it for me...
Gary
<< <i>I had a guy stop by today and sell me some of his "junk silver". This is my best find in a junk silver lot to date. I think this will be very hard to top
You Suck.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Very nice pickup by the way.
You wouldn't believe how long it took to get him to sit still for this.
<< <i>
<< <i>
<< <i>So did you call him back and cut him a check for another $300? >>
it gets old playing the ethics card in situations like
this. the person came over to sell junk silver enmasse. are you
really go to visually check 100s and maybe even thousands of
coins before paying the seller? are you going to make them wait
for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they
agreed on a price. it is not the buyers job to inform the customer
of a single coin in a pile of 100s and 1000s has more value then
melt.
get real! >>
In answer to your points:
1. Ethics, you either have them or you don't.
2. I have had MANY customers bring in 3000-4000 silver dollars, and yes, I do check them for key dates. And yes, they are willing to wait if you tell them what a rare date may be worth.
3. The seller did NOT know what he had.
On more than one occasion, I have cut an additional check to a seller for coins that I have purchased.
I guess I'm just old fashioned. >>
I too have forwarded extra money once a mistake like this was discovered. I agree that, even though the seller said they were all commons, you should send him aditional money...........
why not call the seller and offer to split the difference with him....that way you both win and "word of mouth" advertising by the seller will get you in front of more deals.......always has for me.....
<< <i> I too have forwarded extra money once a mistake like this was discovered. I agree that, even though the seller said they were all commons, you should send him aditional money............ >>
What are the chances the dealer will share some of this money with the person he bought this coin from probably paying 10X face?
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
<< <i>Get over it. The buyer owes the clueless seller nothing more. Done deal. Period. >>
We all know that IF a dealer said these words we would see 50 to 100 posts flaming his backside for it..........sounds like a double standard to me.........
<< <i>
<< <i>Get over it. The buyer owes the clueless seller nothing more. Done deal. Period. >>
We all know that IF a dealer said these words we would see 50 to 100 posts flaming his backside for it..........sounds like a double standard to me.........
I agree, so it's alright to rip someone as long as your not a dealer then it's taking advantage of someone's lack of knowledge
With as much as you buy and sell I consider you a dealer that took advantage...sorry just the way I see it
May you continue to enjoy the fruits of your labor.
From one coin brother to another.
``https://ebay.us/m/KxolR5
<< <i>
<< <i>
<< <i>Get over it. The buyer owes the clueless seller nothing more. Done deal. Period. >>
We all know that IF a dealer said these words we would see 50 to 100 posts flaming his backside for it..........sounds like a double standard to me.........
I agree, so it's alright to rip someone as long as your not a dealer then it's taking advantage of someone's lack of knowledge
With as much as you buy and sell I consider you a dealer that took advantage...sorry just the way I see it >>
i do not know of a single local dealer that will pick out the winners
of a junk silver lot and call the person back offering more money.
nor would i expect them to!
the original person who brought over the junk silver... they must have
bought that CC morgan or aquired it in some way. should that person
now track back the person they got it from and split that money
in half too?
you must really really hate marty huh? the countless rips he has
made time after time from dealers, pawn store owners, garage
sales, flea markets, etc...
yet he is the local hero on this board!