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So I got a call from a very large *UNRESPECTABLE* dealer...(updated---now a non respected dealer...)

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  • DD Posts: 1,997 ✭✭✭
    I don't understand the update...?

    -D
    "It is the mark of an educated mind to be able to entertain a thought without accepting it."

    -Aristotle

    Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.

    -Horace


  • << <i>All seemed fine for the moment until I saw the pictures of the coin and realized that the pictures were the same as the dealer who had the coin previously. The "previous dealer" has a very specific photo shoot that we all know here right away where the coin came from. >>

    Technically, that's a violation of the Copyright Act, if D2 had a mind to it. Practically, he probably doesn't, as it would be facilitating a sale of the coins.
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>Yep, read the whole thread and realize the OP ended up handling it all very professionally. Just saying, you cant have it both ways and after all, the OP thought enough of it at the time of the inital post that he felt he was being messed around to make it public here. Isnt that opening the door to ridicule.
    I dont think im being out of line or too harsh, just saying that if you want to stand out in the crowd enough to have first pick at rare quality coins, then dont damn the seller for trying to make a few bucks off of you. Thats all. And the way I read the initial post, thats what the OP was doing. >>

    The OP wasn't complaining about a seller trying to make money off of him. He ended up complaining, only after learning that he had been lied to. And even now, he's not complaining as loudly as some of us are.
  • CaptHenwayCaptHenway Posts: 32,903 ✭✭✭✭✭


    << <i>

    << <i>Yep, read the whole thread and realize the OP ended up handling it all very professionally. Just saying, you cant have it both ways and after all, the OP thought enough of it at the time of the inital post that he felt he was being messed around to make it public here. Isnt that opening the door to ridicule.
    I dont think im being out of line or too harsh, just saying that if you want to stand out in the crowd enough to have first pick at rare quality coins, then dont damn the seller for trying to make a few bucks off of you. Thats all. And the way I read the initial post, thats what the OP was doing. >>

    The OP wasn't complaining about a seller trying to make money off of him. He ended up complaining, only after learning that he had been lied to. And even now, he's not complaining as loudly as some of us are. >>



    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • telephoto1telephoto1 Posts: 4,964 ✭✭✭✭✭
    I don't necessarily have a problem with dealer #1 basically acting as a middleman... as long as he has permission from the owner of the item to do so...a lot of dealers, including high end ones, make money doing variants of the same thing...they know where a coin is located and tell their client about it, and make a buck for passing it on to them. That part is OK I suppose, though some might contend that it's just a way for the lazy to try to make a buck without investing anything, unlike the guy who actually owns it and is using his own capital to buy inventory. Though technically legal, it seems a bit... dodgy? One problem I have here is that this guy DIDN'T have permission from the owner of the coins. Laying that aside, what I have a BIG problem with here is the outright lying about having already purchased the items, etc. That's not becoming of ANY dealer, much less someone who's a supposedly "respected" dealer. I also agree with kurtdog's statement about their using the owner's pictures without consent being technically actionable- it is. It seems dealer #2 is a nicer guy about that than I might have been. At a minimum I'd have given them a call asking them to remove my pics from any future emails, etc. and it might have included an implied threat of litigation if they continue to try to hawk my items without my consent and using (stealing) my images to do so. Side note...If something like that happens on ebay they normally pull the offending auction immediately.

    Just my 2 cents.

    RIP Mom- 1932-2012


  • << <i>

    << <i>

    << <i>I would just be honest. Tell him that you have already seen the coins listed with X dealer, and that you appreciate the offers. If you are still interested in the coins, I would buy them from dealer X. >>



    Hey Joe,
    I concur with the above advice. >>



    I'm choking on the "that you appreciate the offers" part of the above. In other words, you appreciate being lied to (assuming he does not own/possess the coins). >>



    The dealer at least made an effort to connect a collector with the type of material he likes, and clearly the dealer wasn't trying to get rich in the process. I wouldn't care at all about the bystory----at least the dealer is thinking of you. Maybe when they do get a truly fresh deal in, you'll get first shot at that too.
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>I would just be honest. Tell him that you have already seen the coins listed with X dealer, and that you appreciate the offers. If you are still interested in the coins, I would buy them from dealer X. >>



    Hey Joe,
    I concur with the above advice. >>



    I'm choking on the "that you appreciate the offers" part of the above. In other words, you appreciate being lied to (assuming he does not own/possess the coins). >>



    The dealer at least made an effort to connect a collector with the type of material he likes, and clearly the dealer wasn't trying to get rich in the process. I wouldn't care at all about the bystory----at least the dealer is thinking of you. Maybe when they do get a truly fresh deal in, you'll get first shot at that too. >>

    The dealer was thinking of himself, not the collector, and apparently is a liar. And what makes you think for a minute that he would give first shot on a truly fresh deal? Lastly, we don't know how little or how much money he was trying to make.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    <<The OP wasn't complaining about a seller trying to make money off of him. He ended up complaining, only after learning that he had been lied to. And even now, he's not complaining as loudly as some of us are.>>

    That is certainly your allowed interpretation, please allow me to voice mine. Neither of us can say for sure if he is/was or not as we are not the OP. Thats the thing about emails, chatrooms etc...you dont know the tone or underlying feeling of what is being conveyed and the need to feel like they need to make it public, now do we?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • A simple email to the dealer about your confusion as to whom actually owns the coins might result in an interesting reply?
    "To know the road ahead, ask those coming back"
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i><<The OP wasn't complaining about a seller trying to make money off of him. He ended up complaining, only after learning that he had been lied to. And even now, he's not complaining as loudly as some of us are.>>

    That is certainly your allowed interpretation, please allow me to voice mine. Neither of us can say for sure if he is/was or not as we are not the OP. Thats the thing about emails, chatrooms etc...you dont know the tone or underlying feeling of what is being conveyed and the need to feel like they need to make it public, now do we? >>

    Interpret things if (and however) you wish. However below are the actual words of the OP. They seem quite clear and I have no reason to think he is being other than truthful.

    <<
    Steve;

    Clearly each person is entitled to charg/ask as much as they please. In fact, thats how most dealers make their money-want lists.
    I can tell a dealer I need say a 1916-d mercury dime in vg. He then emails me and tells me hes being offered one and it would cost me $1700. Lets say it will only cost him $1600, because of the fact that he took the time (whatever that was) to find a coin I want/need, he is "charging" me $100 for his service.
    All that is fine by me.

    Its just like somebody brokering a deal where they take a small cut for the brokering. In this case the specifics of the deal were clouded in lies. Thats just bad ethics.>>



  • << <i><<The OP wasn't complaining about a seller trying to make money off of him. He ended up complaining, only after learning that he had been lied to. And even now, he's not complaining as loudly as some of us are.>>

    That is certainly your allowed interpretation, please allow me to voice mine. Neither of us can say for sure if he is/was or not as we are not the OP. Thats the thing about emails, chatrooms etc...you dont know the tone or underlying feeling of what is being conveyed and the need to feel like they need to make it public, now do we? >>




    It is true that we can never be certain about the intent and/or integrity of another person... whether online or in-person...over time their actions will speak for themselves...

    Very much like not being sure about a forum member's true motivation to be a "member" of this forum... let's say a person who has made a small but tidy side business out of frequenting the BST forum in the hopes of jumping on newly listed "cheap" bullion sales and then offering up those purchases for a nice mark-up on the very same BST. I would personally be cautious with such a person and would be somewhat dubious about their opinions and intent here...

    I'm just sayin... sorta hypothetical-like image

    image
    Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free image
  • telephoto1telephoto1 Posts: 4,964 ✭✭✭✭✭
    Very much like not being sure about a forum member's true motivation to be a "member" of this forum... let's say a person who has made a small but tidy side business out of frequenting the BST forum in the hopes of jumping on newly listed "cheap" bullion sales and then offering up those purchases for a nice mark-up on the very same BST. I would personally be cautious with such a person and would be somewhat dubious about their opinions and intent here...

    I'm just sayin... sorta hypothetical-like image

    image


    This particular comment intrigues me. I honestly don't understand how someone using their knowledge of the market to buy something and then turn it at a profit using the BST is any different or somehow less ethical than doing the same thing when at an auction, show, shop, ebay, etc....especially considering how people are quick to hand out the "you suck" slap on the back to people who do so using these other venues. In short, what's the difference?

    RIP Mom- 1932-2012
  • coinkatcoinkat Posts: 23,915 ✭✭✭✭✭
    What was the coin offered ? The grade and the price?

    Dealers can take coins "on memo" and offer them with a price that may be higher

    Let's move on... this is yesterday's mashed potatos

    Experience the World through Numismatics...it's more than you can imagine.



  • << <i>Very much like not being sure about a forum member's true motivation to be a "member" of this forum... let's say a person who has made a small but tidy side business out of frequenting the BST forum in the hopes of jumping on newly listed "cheap" bullion sales and then offering up those purchases for a nice mark-up on the very same BST. I would personally be cautious with such a person and would be somewhat dubious about their opinions and intent here...

    I'm just sayin... sorta hypothetical-like image

    image


    This particular comment intrigues me. I honestly don't understand how someone using their knowledge of the market to buy something and then turn it at a profit using the BST is any different or somehow less ethical than doing the same thing when at an auction, show, shop, ebay, etc....especially considering how people are quick to hand out the "you suck" slap on the back to people who do so using these other venues. In short, what's the difference? >>



    I'll try to give this a whirl... FWIW...

    Personally, I have no problem with "turning a dime" as it were... yet for me (and I imagine others here), these forums are not a bourse... they are a place where we can come to experience the fellowship of our shared hobby... communicate, educate, learn... you know... the corny stuff... hopefully on an equal playing field, so to speak...

    I equate my above hypothetical to (and yes, this is a stretch) joining a church or temple for the sole or primary purpose of making business contacts... IOW, feigning sincere interest as a cover for pure business maneuvering... while this might be an acceptable practice for some... and while I do not begrudge someone getting a good deal and turning it around for a profit, I would and do have an issue with someone going to one "pew in the church/synogouge" to make a purchase and then run to another "pew" to sell it... I am not saying it is really wrong... but it does have an effect on my opinion of that person and any opinions they might have to offer regarding other issues discussed in the "church/temple" or in this case the Discussion Forum...

    Like I said... my analogy is a stretch... but the best I can come up with right now...

    Even on the bourse... while I might spot a coin in one dealers case that I think I have a customer for... buy it and turn it for a small profit... quite often i willl simply point a person in the right direction so they might "get the deal" themselves... or if I am offered a coin across the table that I have no real interest in but do know another dealer who would, rather than "lowball" or accept it if offered cheaply, I will instead direct that person to the interested dealer... it is called goodwill and worth much more than gold...

    Should I live long enough to be able to sit back in my rocking chair and reflect back on my life... the stories of making a quick buck will pale to the stories of "good deeds" and "shared good will"...

    But hey... that's just me... if i wanted to be a successful trader for big bucks, there are far more lucrative places to do so than the Coin Market... this is a hobby for me, first and foremost... and as long as the business end is friendly and pleasant, I'm in... when it turns to dog-eat-dog and every collector/dealer for themselves with sharks taking advantage of the "weak"... I am offended...

    Luckily it is only a relative few who treat this hobby in that sad manner... easy to spot and easy to avoid...



    edited for anal retentive spelling corrections image






    Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free image
  • droopyddroopyd Posts: 5,381 ✭✭✭
    Generally, I think it's unethical to imply that you are offering something for sale when you don't actually own the item in question.
    Me at the Springfield coin show:
    image
    60 years into this hobby and I'm still working on my Lincoln set!
  • DonWillisDonWillis Posts: 961 ✭✭✭
    There are some dealers who, without the owner's knowledge, represent that they own a coin and offer it for sale. That's old news which sooner or later most serious buyers figure out.

    Often times dealer B wil offer to sell dealer A's coins because of his particular expertise and clientel. Not always is the collector made aware of such an arrangement nor does he need to be. Of course when a deal like this is made dealer A usually removes those coins from their offering (website and other). There really isn't anything wrong with this. It actually creates a more efficient marketplace. Let's say that dealer B has clients that buy only from him. Well this is a fine way for them to be made aware of a coin they are looking for. Also, you can bet dealer B is paying dealer A less for the coin than a retail customer would. BTW - Most coins pass through multiple dealer hands before they land with a collector.

    Let's not get into naming names or bashing anyone here. This is not that uncommon. It's happened to me as a dealer and a collector. File it away in your memory bank. It's good that the OP found out, and now he knows. Period.

  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    BTW - Most coins pass through multiple dealer hands before they land with a collector.

    Don't we all know it. It's one of the primary drivers behind rising coin prices in a "hot" market. It would be like a used car going through multiple used car dealer lots before finding a happy owner....at a few extra 5-10% mark ups.

    rodrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • I disagree that "there isn't really anything wrong with this". The dealer explicitly lied that he had purchased these coins. This is simply unforgivable.

    Who is John Galt?
  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭


    << <i>I disagree that "there isn't really anything wrong with this". The dealer explicitly lied that he had purchased these coins. This is simply unforgivable. >>




    To the moral relativist, it's not lying. It's "creative truth telling".
  • MrEurekaMrEureka Posts: 24,452 ✭✭✭✭✭
    There are some dealers who, without the owner's knowledge, represent that they own a coin and offer it for sale.

    Often times dealer B wil offer to sell dealer A's coins because of his particular expertise and clientel. Not always is the collector made aware of such an arrangement nor does he need to be. Of course when a deal like this is made dealer A usually removes those coins from their offering (website and other). There really isn't anything wrong with this. It actually creates a more efficient marketplace. Let's say that dealer B has clients that buy only from him. Well this is a fine way for them to be made aware of a coin they are looking for. Also, you can bet dealer B is paying dealer A less for the coin than a retail customer would. BTW - Most coins pass through multiple dealer hands before they land with a collector.


    Don - To be clear, we should point out that those are two very different scenarios. IMHO, the first is bad business and the second is fine.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • telephoto1telephoto1 Posts: 4,964 ✭✭✭✭✭
    Personally, I have no problem with "turning a dime" as it were... yet for me (and I imagine others here), these forums are not a bourse... they are a place where we can come to experience the fellowship of our shared hobby... communicate, educate, learn... you know... the corny stuff... hopefully on an equal playing field, so to speak...

    I equate my above hypothetical to (and yes, this is a stretch) joining a church or temple for the sole or primary purpose of making business contacts... IOW, feigning sincere interest as a cover for pure business maneuvering... while this might be an acceptable practice for some... and while I do not begrudge someone getting a good deal and turning it around for a profit, I would and do have an issue with someone going to one "pew in the church/synogouge" to make a purchase and then run to another "pew" to sell it... I am not saying it is really wrong... but it does have an effect on my opinion of that person and any opinions they might have to offer regarding other issues discussed in the "church/temple" or in this case the Discussion Forum...


    I can understand your view...however in this case the BST part of the forum actually IS a bourse of sorts... and using your "church" analogy...in this case the church has a specific room in it that has been specifically designated and approved by the "church" as an area where you can do such business deals. There are many posters here who routinely link to their BST offerings as well as their websites and Ebay listings, yet contribute regularly to discussions and help others here... so it seems their interest is not feigned or mercenary. So I guess I am back to my original question of 'what's the difference?' ...because other than a few members having a seemingly arbitrary personal distaste for it, there seems to be none.

    RIP Mom- 1932-2012

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