A simple observation after reading every one of the three pages of responses to this thread . . .
Collect the keys. Sell the keys. Everything else is somewhat moot. Just get it for double 'face' at your local coin shop and fill your Danscos with G-4 material !!!
If you like to collect modern stuff, or modern Commems, etc. enjoy what you have and don't ever think about selling to make a profit. As David Hall says, "Have fun with your coins!"
This is one of the problems with the internet- people have personal definitions of words that are not always in alignment with commonly understood usage.
<< <i>When I have sold coins back to Laura ,Mark or Mike , they have remembered every coin they sold me and have offered strong buy back prices. While I do not deny the right of any dealer to conduct business as they please, I will only do business with dealers that I feel meet my definition of ethical and moral in the conduct of their business activity.
To compare valuable coins to pet rocks is rather ridiculous if not silly. If a dealer sells coins that are true to the grade and are are of real quality, they should be thrilled to buy back the coin at a fair price so that they can sell it again. Refusal to buy back what they sold, usually means that the coin or coins ,were over graded, overpriced of fell into the dreaded "D" list of coins.
ETHICS to me, means that a dealer will stand behind every product they sell.If I buy a toaster and it is defective, I expect the dealer to give me a new toaster. If a dealer sells me what is stated to be a quality coin, I expect that dealer to be prepared to buy it back at a fair price.FAILURE TO DO SO ,MEANS THAT THE DEALER FEELS THAT THEIR IS SOMETHING DEFECTIVE ABOUT THE QUALITY COIN THEY SOLD ME.DEFECTIVE IN THE SENSE THAT THEY WOULD HAVE TO OFFWER ME 10 CENTS ON THE DOLLAR THAT I PAID FOR THE COIN OR IT IS A COIN THAT IS SHABBY FOR THE GRADE, SLABBED OR RAW. >>
I agree with this .....
I manage money. I earn money. I save money . I give away money. I collect money. I don’t love money . I do love the Lord God.
I don't think there is a requirement for a dealer to create a two-way market. It is good business practice, but so long as it is disclosed when a collector makes a purchase, then I don't have an issue with it.
On an unrelated topic, a tear came to Longacre's eye today as he was standing on the deck of the USS Missouri taking the tour, and watched the USS Ronald Reagan pull into Pearl Harbor, with a full complement of sailors on deck, who saluted the Missouri, and then turned and saluted the USS Arizona as they docked. It was quite a sight.
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)
<< <i>A one way market suggests that the dealer doesn't care about future business with you - unless he can make further scores. That doesn't tend to inspire loyalty. >>
<< <i>When I have sold coins back to Laura ,Mark or Mike , they have remembered every coin they sold me and have offered strong buy back prices. While I do not deny the right of any dealer to conduct business as they please, I will only do business with dealers that I feel meet my definition of ethical and moral in the conduct of their business activity.
To compare valuable coins to pet rocks is rather ridiculous if not silly. If a dealer sells coins that are true to the grade and are are of real quality, they should be thrilled to buy back the coin at a fair price so that they can sell it again. Refusal to buy back what they sold, usually means that the coin or coins ,were over graded, overpriced of fell into the dreaded "D" list of coins.
ETHICS to me, means that a dealer will stand behind every product they sell.If I buy a toaster and it is defective, I expect the dealer to give me a new toaster. If a dealer sells me what is stated to be a quality coin, I expect that dealer to be prepared to buy it back at a fair price.FAILURE TO DO SO ,MEANS THAT THE DEALER FEELS THAT THEIR IS SOMETHING DEFECTIVE ABOUT THE QUALITY COIN THEY SOLD ME.DEFECTIVE IN THE SENSE THAT THEY WOULD HAVE TO OFFWER ME 10 CENTS ON THE DOLLAR THAT I PAID FOR THE COIN OR IT IS A COIN THAT IS SHABBY FOR THE GRADE, SLABBED OR RAW. >>
I wasn't stating that dealers shouldn't stand behind what they sell. They should, and I do. My remarks, if you care to read them, addressed the "fad coins" such as the miniscule die varieties, etc. that initially start at higher prices once discovered but decrease as greater numbers are found. Selling something initially at a higher market and then having that market value decrease means that subsequent buybacks will be based on the then-current market value, and also subject to the dealer's stock of said items. Translation: If something is worth $100 to start, the market falls to $40, and the dealer has 50 of them, don't expect him to pay you $70-80 just because he originally sold it to you at $100. People who bought gold at $850 from their local dealer in 1980 didn't go back to them when it dropped to $350 asking for a $750 buyback. That's not a lack of ethics; it's the reality of the market. Now assuming the market stays the same and the dealer isn't overstocked with the item, then I am in total agreement...of course if that were the case then there would be no reason for a dealer not to want a saleable item back.
Comments
Collect the keys. Sell the keys. Everything else is somewhat moot. Just get it for double 'face' at your local coin shop and fill your Danscos with G-4 material !!!
If you like to collect modern stuff, or modern Commems, etc. enjoy what you have and don't ever think about selling to make a profit. As David Hall says, "Have fun with your coins!"
Drunner
<< <i>ETHICS to me, means... >>
This is one of the problems with the internet- people have personal definitions of words that are not always in alignment with commonly understood usage.
<< <i>When I have sold coins back to Laura ,Mark or Mike , they have remembered every
coin they sold me and have offered strong buy back prices. While I do not deny the
right of any dealer to conduct business as they please, I will only do business with
dealers that I feel meet my definition of ethical and moral in the conduct of their
business activity.
To compare valuable coins to pet rocks is rather ridiculous if not silly. If a dealer sells
coins that are true to the grade and are are of real quality, they should be thrilled to buy back
the coin at a fair price so that they can sell it again. Refusal to buy back what they sold,
usually means that the coin or coins ,were over graded, overpriced of fell into the dreaded
"D" list of coins.
ETHICS to me, means that a dealer will stand behind every product they sell.If I buy a toaster
and it is defective, I expect the dealer to give me a new toaster. If a dealer sells me what is
stated to be a quality coin, I expect that dealer to be prepared to buy it back at a fair price.FAILURE
TO DO SO ,MEANS THAT THE DEALER FEELS THAT THEIR IS SOMETHING DEFECTIVE ABOUT THE QUALITY
COIN THEY SOLD ME.DEFECTIVE IN THE SENSE THAT THEY WOULD HAVE TO OFFWER ME 10 CENTS ON
THE DOLLAR THAT I PAID FOR THE COIN OR IT IS A COIN THAT IS SHABBY FOR THE GRADE, SLABBED OR RAW. >>
I agree with this .....
I give away money. I collect money.
I don’t love money . I do love the Lord God.
many collectors tend to have a collection valued in the thousands
of dollars. With that amount of money at stake and with the economic
condition we find the Nation in today, the ability to sell part or all of
ones collection may prove to necessary. In that case, it would be nice
to be able to go back to the dealer you bought the coins from to sell
the coins back.
Camelot
<< <i>In that case, it would be nice
to be able to go back to the dealer you bought the coins from to sell
the coins back. >>
Lots of things would be nice. Meanwhile, back here on planet earth...
Seriously, though- if a buyback policy is important, maybe the buyer should be asking about it before completing the purchase? Just a thought...
EAC 6024
On an unrelated topic, a tear came to Longacre's eye today as he was standing on the deck of the USS Missouri taking the tour, and watched the USS Ronald Reagan pull into Pearl Harbor, with a full complement of sailors on deck, who saluted the Missouri, and then turned and saluted the USS Arizona as they docked. It was quite a sight.
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)
<< <i>A one way market suggests that the dealer doesn't care about future business with you - unless he can make further scores. That doesn't tend to inspire loyalty. >>
Bingo.
<< <i>When I have sold coins back to Laura ,Mark or Mike , they have remembered every
coin they sold me and have offered strong buy back prices. While I do not deny the
right of any dealer to conduct business as they please, I will only do business with
dealers that I feel meet my definition of ethical and moral in the conduct of their
business activity.
To compare valuable coins to pet rocks is rather ridiculous if not silly. If a dealer sells
coins that are true to the grade and are are of real quality, they should be thrilled to buy back
the coin at a fair price so that they can sell it again. Refusal to buy back what they sold,
usually means that the coin or coins ,were over graded, overpriced of fell into the dreaded
"D" list of coins.
ETHICS to me, means that a dealer will stand behind every product they sell.If I buy a toaster
and it is defective, I expect the dealer to give me a new toaster. If a dealer sells me what is
stated to be a quality coin, I expect that dealer to be prepared to buy it back at a fair price.FAILURE
TO DO SO ,MEANS THAT THE DEALER FEELS THAT THEIR IS SOMETHING DEFECTIVE ABOUT THE QUALITY
COIN THEY SOLD ME.DEFECTIVE IN THE SENSE THAT THEY WOULD HAVE TO OFFWER ME 10 CENTS ON
THE DOLLAR THAT I PAID FOR THE COIN OR IT IS A COIN THAT IS SHABBY FOR THE GRADE, SLABBED OR RAW. >>
I wasn't stating that dealers shouldn't stand behind what they sell. They should, and I do. My remarks, if you care to read them, addressed the "fad coins" such as the miniscule die varieties, etc. that initially start at higher prices once discovered but decrease as greater numbers are found. Selling something initially at a higher market and then having that market value decrease means that subsequent buybacks will be based on the then-current market value, and also subject to the dealer's stock of said items. Translation: If something is worth $100 to start, the market falls to $40, and the dealer has 50 of them, don't expect him to pay you $70-80 just because he originally sold it to you at $100. People who bought gold at $850 from their local dealer in 1980 didn't go back to them when it dropped to $350 asking for a $750 buyback. That's not a lack of ethics; it's the reality of the market. Now assuming the market stays the same and the dealer isn't overstocked with the item, then I am in total agreement...of course if that were the case then there would be no reason for a dealer not to want a saleable item back.
RIP Mom- 1932-2012