Somebody dumped silver at 8.00 oz at Coin club

jdimmick · October 14, 2008 11:14AM

This evening, somebody came in with 80 silver rounds and dumped them at 8.00 each. Unfortunately I was in the first meeting of the quarter directors meeting so I missed the deal. Shortly after I told him he was a fool for selling that cheap!

Hyperion · October 14, 2008 11:18AM

<< This evening, somebody came in with 80 silver rounds and dumped them at 8.00 each. Unfortunately I was in the first meeting of the quarter directors meeting so I missed the deal. Shortly after I told him he was a fool for selling that cheap! >>

so, noone at the coin club warned him and they absorbed all 80 rounds from him?

a club of sharks?

oreville · October 14, 2008 11:19AM

Name of your club so I can make sure I never join?

fc · October 14, 2008 11:21AM

haha. that is simply hilarious. no one mentioned to him they were
going a bit cheap and should have been asking at least 11?

MadMarty · October 14, 2008 11:25AM

I wonder if these club members talk about dealer ripping customers also!! Then again, maybe his local dealer only offered him $6 each!

Dentuck · October 14, 2008 11:28AM

What was his reaction when you told him he sold too cheap?

Did he think he was getting a fair deal?

ChrisRx · October 14, 2008 11:35AM

<< What was his reaction when you told him he sold too cheap? >>

edix2001 · October 14, 2008 11:47AM

Does your club have directors for each denomination?

GoldenEyeNumismatics · October 14, 2008 11:47AM

Sounds like he came in with a price in mind and was easily able to sell them at that price. I don't see any problem.

fc · October 14, 2008 11:52AM

<< Sounds like he came in with a price in mind and was easily able to sell them at that price. I don't see any problem. >>

i agree, if he totally understood spot was ~11 dollars an ounce.

or was he a 69 year old gentleman who is getting on in years and
simply remembered paying around 5 bucks each 10 years ago?

robkool · October 14, 2008 12:08PM

OUCH !!!

LickThoseStamps · October 14, 2008 12:14PM

Maybe he knows something we don't.

pennyannie · October 14, 2008 12:18PM

A room for of coin collectors and every one screwed the guy. LOL Even if the guy brought up the 8 dollars i find it hard to believe that no one said any different. Now the excuses will fly. We thought it was .800 or 40 percent or....

OPA · October 14, 2008 12:26PM

Rounds imported from China...copper core, with zinc coding

robkool · October 14, 2008 12:28PM

Right... Just like someone paying $80 per oz for gold...

micmt · October 14, 2008 12:56PM

Ok not going to say anything cause every one else just reamed your club.

TwoSides2aCoin · October 14, 2008 1:50PM

I'm missing my club

lope208 · October 14, 2008 9:49PM

You would think based on simple supply and demand another person in the club would've offered $9 or $10 per.

Or does the "club" buy these things with group funds?

Whitby · October 14, 2008 10:46PM

<< A room for of coin collectors and every one screwed the guy. LOL Even if the guy brought up the 8 dollars i find it hard to believe that no one said any different. Now the excuses will fly. We thought it was .800 or 40 percent or.... >>

Do you think anyone gave him a kiss??

TwoSides2aCoin · October 14, 2008 10:53PM

<< Do you think anyone gave him a kiss?? >>

Even I get that joke.

Whitby · October 14, 2008 11:21PM

<< 

<< Do you think anyone gave him a kiss?? >>

Even I get that joke. >>

There are too many variables here.

Example, a long while ago, I posted about how I fessed up to an older lady and did not take advantage of the fact that she had given me the equivalent of a few thousand dollars in gold certificates. Sure, I could have said THANKS MAM! BUT NOOOOOOOO. I do not regret the honesty, I do regret not having that paper in my collection. Oh well.

Anyway, if all parties knew each other, he bought it wholesale etc etc He gave away a gift etc etc hey, who knows.

HOWEVER, IMO, and I stress IMO, it would have been swell to have said, hey, this is a nice gesture, are you sure etc etc.

THE WORST, perhaps most impressive bend over (handcuff the ankles and wrists together please) happened to my grandfather who at 102 years of age, a WW1 vet, decided to put, the face value, repeat face value of 1 grand in 20 dollar gold pieces into his SAVINGS ACCOUNT. AND 2 days later, he could go to his bank and withdraw the whopping sum of 1 grand, although, I think we all know that in 1985, those coins were worth just a tad more than 20 bucks a pop. NOT A SOUL recalled the coins. NOT ONE SPINELESS, MONO HELIXED, SNOT ENCRUSTED COWARDLY MAGGOT at that bank said, pardon me sir...........

SO, while he did not get a kiss, he did get his grandson to g to the bank and have a very special heart to heart with the teller, who was and shall be a thief in my eyes.

mkman123 · October 15, 2008 12:00AM

kind of messed up........would have thought the coin club guys would have corrected him and given him more..........

Whitby · October 15, 2008 12:05AM

<< 

<< What was his reaction when you told him he sold too cheap? >>

>>

Your pic is missing the industrial sized can of lube at the side of the pile.

Otherwise LMAO

13PacesEast · October 15, 2008 12:10AM

rippin dippin clippin whizzin tonin laserin .....

nothing wrong if it is done in the name of PROFIT ™

P R O F I T ™

Whitby · October 15, 2008 12:16AM

<< rippin dippin clippin whizzin tonin laserin .....

nothing wrong if it is done in the name of PROFIT ™

P R O F I T ™ >>

Sorry Homey.

Whitby dont play that.

ProofArtworkonCircs · October 15, 2008 12:16AM

<<NOT A SOUL recalled the coins. NOT ONE SPINELESS, MONO HELIXED, SNOT ENCRUSTED COWARDLY MAGGOT at that bank said, pardon me sir...........>>

Original rules for the banks (1934 period) were that they were supposed to grab the gold and turn it in to the FRB for face.
About 1956, the FRB issued new advice and advised banks that anybody attempting to turn gold in, should be alerted and sent to a coin dealer. (That bugs me a tiny bit. Mercy for the coin collector but gold certificates are still illegal to possess in that period.)

Evidently nobody remembers the rules or it is now all forgotten or they are all crooks.

Whitby · October 15, 2008 12:21AM

<< <<NOT A SOUL recalled the coins. NOT ONE SPINELESS, MONO HELIXED, SNOT ENCRUSTED COWARDLY MAGGOT at that bank said, pardon me sir...........>>

Original rules for the banks (1934 period) were that they were supposed to grab the gold and turn it in to the FRB for face.
About 1956, the FRB issued new advice and advised banks that anybody attempting to turn gold in, should be alerted and sent to a coin dealer. (That bugs me a tiny bit. Mercy for the coin collector but gold certificates are still illegal to possess in that period.)

Evidently nobody remembers the rules or it is now all forgotten or they are all crooks. >>

EXACTO!!!!!

All you have to do is.

Gosh sir, I dont want to tell you what to do, BUT, youy have a HUGE KNOT and here is how a person would go about doing something........

13PacesEast · October 15, 2008 12:26AM

<< 

<< rippin dippin clippin whizzin tonin laserin .....

nothing wrong if it is done in the name of PROFIT ™

P R O F I T ™ >>

Sorry Homey.

Whitby dont play that. >>

i guess sarcasm is lost on you.

MadMarty · October 15, 2008 12:40AM

If the guy came into a coin show/coin shop/coin club/anywhere that people buy and sell coins and said "I'm selling these silver rounds at $8 each!". Everyone of you would have taken the deal and ran. Came here and bragged about the rip!!! It's not like someone offered him $8 (then he could have said "No Way!"). He stated a price, and people took it! If he put them on E-Bay, people here that bought them would have been gloating for weeks!!!

Get a grip people! The guy that would have spoken up and said those are worth $11 each would have been lynched by the other people lining up to by silver rounds at $8 each!!!

Whitby · October 15, 2008 12:42AM

<< 

<< 

<< rippin dippin clippin whizzin tonin laserin .....

nothing wrong if it is done in the name of PROFIT ™

P R O F I T ™ >>

Sorry Homey.

Whitby dont play that. >>

i guess sarcasm is lost on you. >>

No, its not lost, I had it surgically removed.

Given my name is a WV coal town, what would the odds be that I would say Homey??? Zero.

I was responding in kind. Humor is as humor does. My apologies if that was not clear

Whitby · October 15, 2008 12:43AM

<< If the guy came into a coin show/coin shop/coin club/anywhere that people buy and sell coins and said "I'm selling these silver rounds at $8 each!". Everyone of you would have taken the deal and ran. Came here and bragged about the rip!!! It's not like someone offered him $8 (then he could have said "No Way!"). He stated a price, and people took it! If he put them on E-Bay, people here that bought them would have been gloating for weeks!!!

Get a grip people! The guy that would have spoken up and said those are worth $11 each would have been lynched by the other people lining up to by silver rounds at $8 each!!! >>

Sorry, I am one of those who would have said, thanks, are you sure......Otherwise, if he said yeah, sure I would have bought.

13PacesEast · October 15, 2008 1:01AM

<< 

<< 

<< 

<< rippin dippin clippin whizzin tonin laserin .....

nothing wrong if it is done in the name of PROFIT ™

P R O F I T ™ >>

Sorry Homey.

Whitby dont play that. >>

i guess sarcasm is lost on you. >>

No, its not lost, I had it surgically removed.

Given my name is a WV coal town, what would the odds be that I would say Homey??? Zero.

I was responding in kind. Humor is as humor does. My apologies if that was not clear >>

no apologies needed.

what are the odds that anyone outside of your little coal town would even know it existed? zero.

funny.

TwoSides2aCoin · October 15, 2008 1:13AM

at least these were'nt "REAL" coins

Whitby · October 15, 2008 1:13AM

<< 

<< 

<< 

<< 

<< rippin dippin clippin whizzin tonin laserin .....

nothing wrong if it is done in the name of PROFIT ™

P R O F I T ™ >>

Sorry Homey.

Whitby dont play that. >>

i guess sarcasm is lost on you. >>

No, its not lost, I had it surgically removed.

Given my name is a WV coal town, what would the odds be that I would say Homey??? Zero.

I was responding in kind. Humor is as humor does. My apologies if that was not clear >>

no apologies needed.

what are the odds that anyone outside of your little coal town would even know it existed? zero.

funny.

>>

EXACTLY.

A town whose current population of 11, thats right not 12, but 11 would even understand.

And thus, they all lived happily ever after AFTER joining the cornhole line to get silver at 8 an ounce.

Whitby · October 15, 2008 1:21AM

<< A room for of coin collectors and every one screwed the guy. LOL Even if the guy brought up the 8 dollars i find it hard to believe that no one said any different. Now the excuses will fly. We thought it was .800 or 40 percent or.... >>

Hence, the mascot is named Cornholio

cinman14 · October 15, 2008 4:06AM

<< If the guy came into a coin show/coin shop/coin club/anywhere that people buy and sell coins and said "I'm selling these silver rounds at $8 each!". Everyone of you would have taken the deal and ran. Came here and bragged about the rip!!! It's not like someone offered him $8 (then he could have said "No Way!"). He stated a price, and people took it! If he put them on E-Bay, people here that bought them would have been gloating for weeks!!!

Get a grip people! The guy that would have spoken up and said those are worth $11 each would have been lynched by the other people lining up to by silver rounds at $8 each!!! >>

Sorry Marty.
I wouldn't have sold my Morals for 240 bucks.... If I informed him of the current melt value and he still
wanted to sell at that price.. Fine. But I know for a fact 40% of the members here would not have ripped
this guy that bad..

I gathered my 40% number from past polls started by Gecko to reflect the morals this forum has shown towards unsuspecting
buyers... And the "all about me mentality" that seems rampant in todays society...

Of course as a master cherrypicker my post will probably sound stupid to you....

BlackBeard · October 15, 2008 4:29AM

With the premium bullion is carrying right now, $11 would have been a nice price.

barbershopper · October 15, 2008 4:50AM

I had the same experience in 1955 when a man walked in to our club and offered to trade 20 Barber halves for
a $20 gold coin, any date. You could buy one at that time for $40.00.
He offered to sell it for $40 cash if nobody had the double eagle.
The club president got to him first and spent the next hour intently examining each coin as though
he might find a counterfeit.
Those of us watching noticed that there were only 4 different dates in the lot.
1901-S, 1913, 1914 & 1915, all Philadelphia.
Of course, he made the deal.
That's bugged me for over 50 years! Oh well, that's life.
JET

Whitby · October 15, 2008 5:45AM

<< 

<< If the guy came into a coin show/coin shop/coin club/anywhere that people buy and sell coins and said "I'm selling these silver rounds at $8 each!". Everyone of you would have taken the deal and ran. Came here and bragged about the rip!!! It's not like someone offered him $8 (then he could have said "No Way!"). He stated a price, and people took it! If he put them on E-Bay, people here that bought them would have been gloating for weeks!!!

Get a grip people! The guy that would have spoken up and said those are worth $11 each would have been lynched by the other people lining up to by silver rounds at $8 each!!! >>

Sorry Marty.
I wouldn't have sold my Morals for 240 bucks.... If I informed him of the current melt value and he still
wanted to sell at that price.. Fine. But I know for a fact 40% of the members here would not have ripped
this guy that bad..

I gathered my 40% number from past polls started by Gecko to reflect the morals this forum has shown towards unsuspecting
buyers... And the "all about me mentality" that seems rampant in todays society...

Of course as a master cherrypicker my post will probably sound stupid to you....

>>

Thank you

Again this situation has alot of variables which we do not know.

However, I was starting to get this mental image of the room lining up, dropping trou, grabbing a ten gallon barrel of lube and starting to chant RIGHT UP THE HATCHEROO FOR YOU. Every 8 dollar transaction was a bend over with his name on it.

Sorry, its just wrong to not at least provide a modicum of consideration in this instance.

ebaytrader · October 15, 2008 6:23AM

<< Rounds imported from China...copper core, with zinc coding

>>

Genuine lead core and not some cheap immitation.

ProofArtworkonCircs · October 15, 2008 12:00PM

In 1947 somebody turned a five dollar gold piece (1906 D) into a local savings bank for $5. The bank called me up and offered it to me for $ 5 seeing as I was a "coin collector." I accepted. That was the royal treatment for a 12 year old customer. And I appreciate the compliment of being called a collector.

ziggy29 · October 16, 2008 1:00AM

A few more days like this and the seller of these $8 rounds may be crazy... like a fox.

TwoSides2aCoin · October 16, 2008 1:14AM

<< A few more days like this and the seller of these $8 rounds may be crazy... like a fox. >>

Good point. Time will tell.

golfer72 · October 17, 2008 9:57AM

I would have tried to get them for 7.50

PawPaul · October 17, 2008 10:10PM

<< Sounds like he came in with a price in mind and was easily able to sell them at that price. I don't see any problem. >>

it is a comment like this that reeks of the typical unethical cheating mentality of most coin shop owners -

WinPitcher · October 17, 2008 11:04PM

it is a comment like this that reeks of the typical unethical cheating mentality of most coin shop owners -

Who at least have overhead.

Steve

Somebody dumped silver at 8.00 oz at Coin club

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