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Is Ethicship the best Dealership?

CoinosaurusCoinosaurus Posts: 9,645 ✭✭✭✭✭
in U.S. Coin Forum
Are the best dealers necessarily the most ethical?

If the most ethical dealer doesn't have the requisite knowledge or connections, are they worth dealing with?
Newman Numismatic Portal, www.NewmanPortal.org

Comments

  • FairlanemanFairlaneman Posts: 10,426 ✭✭✭✭✭
    No

    Yes
  • RYKRYK Posts: 35,800 ✭✭✭✭✭
    It depends on how you define "best dealer" and what qualities the individual assigns to the ideal dealer, as this will vary from collector to collector. Nonetheless, an ethical dealer can easily, unknowingly cause as much or more harm to a collector than one who is less ethical but more competent.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • FairlanemanFairlaneman Posts: 10,426 ✭✭✭✭✭
    Nonetheless, an ethical dealer can easily, unknowingly cause as much or more harm to a collector than one who is less ethical but more competent.

    How so? Please explain this thought.

    Ken
  • RYKRYK Posts: 35,800 ✭✭✭✭✭


    << <i>Nonetheless, an ethical dealer can easily, unknowingly cause as much or more harm to a collector than one who is less ethical but more competent.

    How so? Please explain this thought.

    Ken >>


    An ethical but incompetent dealer might sell a problem coin to a collector that the competent but less ethical dealer would not even consider in the first place. The collector may be relying on the dealer for his expertise, and even though he means well, the ethical seller may be the one who hoses the collector.

    Been there, done that (as a collector). image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • FairlanemanFairlaneman Posts: 10,426 ✭✭✭✭✭
    A collector also has the responsibility to learn about what he/she is collecting. When the collector has amassed enough knowledge to recognise that a coin previously purchased has a problem the ethical dealer would fess up to the problem I would think. A unethical dealer would blow him off.

    You cannot condem a ethical dealer for any reason. Collector stupidity is not a good reason.

    Ken
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    In my teens there were probably 10 local dealers within a 15 mile radius of my home. Most of them didn't know a good coin from a bad one, especially when it came to proofs and mint state coins. They caused great harm to the clients that bought from them. And they would have caused me great harm if I hadn't come up to speed quick enough to avoid their traps. I think most of them thought they were doing a good service to their customers. The closest shop was selling everything as MS65 regardless of whether it was 63 or 65. And when it came time to sell some of those "MS65's" back to him, he was never interested (ie already have some or current demand is slow). That same guy almost did me great harm when he sold me a choice BU 1916-S $10 Indian that had just come into the shop. I was lucky in that Paramount just had a feature on identifying fakes of this date in their latest rare coin magazine. Turned out this one had all the same features and I immediately returned it. It was a good lesson learned. While we do have slabs today to reduce a lot of this risk, it doesn't eliminate them all.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • RYKRYK Posts: 35,800 ✭✭✭✭✭


    << <i>A collector also has the responsibility to learn about what he/she is collecting. When the collector has amassed enough knowledge to recognise that a coin previously purchased has a problem the ethical dealer would fess up to the problem I would think. A unethical dealer would blow him off.

    You cannot condem a ethical dealer for any reason. Collector stupidity is not a good reason.

    Ken >>


    It is clear that we have different expectations from our dealers, which speaks to the first line of my response.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • RWBRWB Posts: 8,082 ✭
    Seems to be some confusion between "ethics" and "honesty" - very different critters.
  • FairlanemanFairlaneman Posts: 10,426 ✭✭✭✭✭
    I think where we disagree is ethical versus non-ethical. In no way is a ethical dealer true blue in all respects. A non-ethical dealer is slim from the beginning. Thats the way I look at it and judge dealers in the same way.

    Roadrunner stated that he had purchased coins and the dealers would not buy them back in any way or form. Thats a type of dealer that just might be ethical but one I would stay away from in the future.

    Ken
  • AMRCAMRC Posts: 4,280 ✭✭✭✭✭
    Always. An Ethical dealer will tell you when they do not know, and may have access to who does. More importantly, and disregarding specific expertise in one area or another, the guidance and input an ethical dealer can provide spans all of collecting and is invaluable regardless of what you collect.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • GoldenEyeNumismaticsGoldenEyeNumismatics Posts: 13,187 ✭✭✭
    Ethics is subjective.

    The best dealers are those who are friendly, knowledgeable and have good coins.

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