Another Bizarre Coin Situation - Need Advice!

Coinosaurus · January 17, 2012 2:03PM

In our last episode, I sent a dealer money for an item that I really wanted, which he said he had but couldn't currently locate but was looking for. He never found it, and I (eventually) got my money back, although I had to take half a day off of work to go to a coin show that I might not have gone to otherwise, to collect.

This time we have the opposite situation.

I was loaned an item for research (value, about $2000). I did my research (currently unpublished) and on at least two occasions offered to send the item back to the dealer. The dealer has told me to keep it, but has not exactly "given" it to me. I don't like the idea of having stuff around that I have borrowed and really should give back. On the other hand the dealer is a totally standup guy with a stellar reputation and I don't want to offend him. I think he is hoping that maybe I will purchase the item (it is wierd esoteric stuff that frankly would be hard to sell). I guess what I plan to do is to remind him periodically that I still have it and ask if he wants it back. But, I would like to hear what the Forum thinks.

Unknown · January 17, 2012 2:04PM

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CoinJunkie · January 17, 2012 2:27PM

I'd probably put it in a safe place and forget about it. The ball is in the dealer's court, as it were...

crypto79 · January 17, 2012 2:29PM

I would hand it to him at the next show and thank him with a offer for lunch

astrorat · January 17, 2012 2:50PM

<< I don't get it, his coin, you got it and don't want it, so send it back to him whether he asks or not.....you don't want it right? What is there to think about? >>

Yep ... I am kinda on this page as well. This doesn't seem like a difficult decision.

TwoSides2aCoin · January 17, 2012 3:21PM

It's probably not the best advice, but why not invoice this dealer for storage fees ? If he's a stand up guy, he'll either laugh or pay the invoice.

ricko · January 17, 2012 9:49PM

Not sure what is weird here.. the fact that he is content to leave it with you, or the fact that you have not sent it back. The obvious answer is to simply return the coin. Cheers, RickO

BAJJERFAN · January 17, 2012 9:59PM

Mano mano what pickles we get ourselves into, eh?

notwilight · January 17, 2012 10:01PM

I would keep it and enjoy it like it was mine until he asked for it back. I would remind him I have it and ask if he had changed his mind and wants it back any time I saw him. In return for his generous loan I would mention it/show it to others who might be interested in hopes of generating an offer to sell it for him. --Jerry

drwstr123 · January 17, 2012 10:11PM

Could be problematic if you die. Suggest you make appropriate arrangements.

291fifth · January 17, 2012 10:27PM

Send it back with a nice thank you note for allowing you to use it for your research.

If he hasn't said you can have it for free then it is obvious he wants you to offer something for it. Since you don't want it don't keep it.

Cameonut · January 17, 2012 10:30PM

If you are not interested in buying the item, return it to the dealer.

If it is that esoteric, the dealer may be hoping that you will decide to keep it as it may be his best opportunity for a sale. So if you are not interested, send it back and thank him for the chance to research it.

JJM · January 17, 2012 10:48PM

<< I would hand it to him at the next show and thank him with a offer for lunch >>

agree

amwldcoin · January 17, 2012 11:03PM

So how much is said strange essoteric item worth????

USMoneylover · January 17, 2012 11:10PM

Im with the buy it Or return it crowd.

Dentuck · January 17, 2012 11:35PM

I have to point out that nowhere did Coinosaurus say he was loaned a COIN. He said
he was loaned an "item."

Knowing the kinds of research he gets into, that item could be anything from the doorbell of the first
U.S. Mint to David Rittenhouse's rocking chair or Frank Stewart's fishing tackle box with a secret compartment
for rare coins!

BAJJERFAN · January 17, 2012 11:37PM

<< So how much is said strange essoteric item worth???? >>

He said in the OP it was about $2,000.

PerryHall · January 17, 2012 11:39PM

Since he doesn't want it back, sell it on eBay or the BST.

ajman · January 17, 2012 11:47PM

I would just call him to let him know that I am finished with my research and am mailing his coin back.

RYK · January 17, 2012 11:59PM

If you feel like you are more than whole with this resource, send me your CC quarters, and I will hold them for you until the other dude asks for his item back.

LanLord · January 17, 2012 11:59PM

Make a lowball offer on the item, buy it, do a stellar job of publishing your research in a way that the item becomes the next sweetheart item in the numismatic world, sell, make a killing!!

Okay, all kidding aside, just send it back anyway.

BAJJERFAN · January 18, 2012 12:03AM

<< I have to point out that nowhere did Coinosaurus say he was loaned a COIN. He said
he was loaned an "item."

Knowing the kinds of research he gets into, that item could be anything from the doorbell of the first
U.S. Mint to David Rittenhouse's rocking chair or Frank Stewart's fishing tackle box with a secret compartment
for rare coins! >>

Doesn't his title say coin situation? Can we infer from that that said item is indeed a coin?

WestySteve · January 18, 2012 1:14AM

Tell him that you loaned it out to someone else. Watch how quickly he asks for it back.

Dentuck · January 18, 2012 1:18AM

<< Doesn't his title say coin situation? Can we infer from that that said item is indeed a coin?

>>

Assume NOTHING when a Coinosaurus is involved!

I'm thinking he's got a seven-foot-diameter bas-relief architectural medallion taking up space in his living room.

magikbilly · January 18, 2012 1:57AM

Hi,

I would not want to be responsible for it. Did the owner of the coin get anything for allowing this esoteric item to be used/photographed? If not, maybe he is hoping for a decent offer in return as this item sounds like something that won't be walking out the door this week, or next. Especially as you have it.

With the things I do, if I allow any of my collections to be reproduced, published in books or used for research, I get paid. What is funny is seeing a good chunk of "established" authors scream like stuck pigs saying "What? I have NEVER heard of any reproduction fees! What is a license? I have no budget for my research! What is copyright law?" In my work and the books I have worked on, I prefer to own and keep the item(s).

Best,
Eric

19Lyds · January 18, 2012 2:08AM

This is quite simple.

Hang on to the coin then change your name from Coinosaurus to Coin-o-store-us!

Billet7 · January 18, 2012 2:21AM

Send it back. Not worth the liablility.

TheBigB · January 18, 2012 2:52AM

I don't know why we complicate things, just use registered mail with signature confirmation and be done.

BAJJERFAN · January 18, 2012 3:39AM

<< I don't know why we complicate things. >>

Because we CAN.

nycounsel · January 18, 2012 3:50AM

someone loaned you a $2000 item and doesn't want it back? this is what a comedian would call a white people problem

comma · January 18, 2012 3:50AM

Ya, I'm on the confused boat here. Seems like a pretty simple situation to me...

GoldClause · January 18, 2012 3:54AM

If it were me, it would already be in the mail.

grip · January 18, 2012 4:12AM

To funny.

CCC2010 · January 18, 2012 4:16AM

Send it Overnight to him with Signature delivery confirmation and Insured ofcourse. Oh yes do not forget to insert a note thanking him for loaning you the item and make sure you credit him in your upcoming book or research.

Prethen · January 18, 2012 5:00AM

Why can't you just talk to him about it? What's so hard about being up front about your confusion and just laugh about your spot with him?

spetty · January 18, 2012 5:15AM

The proper thing to do is send it back to him certified mail.

Baley · January 18, 2012 5:16AM

The dealer has told me to keep it

so keep it, and thank him

magikbilly · January 18, 2012 5:46AM

FWIW, Id make sure I have a signed release to use the item. A few people I know have burned themselves like that.

Eric

kaz · January 18, 2012 8:53AM

I'd also be uncomfortable holding onto it. Ship it back, or if it's bulky, like an elephant-leg umbrella stand inlaid with Peace Dollars, drop it off at the next show, as per Crypto.

rhedden · January 18, 2012 9:20AM

I would send it back with a polite "thank you" note. You don't want to be liable for it since it's not insured. If the unthinkable robbery happens, you owe him $2000.

Another Bizarre Coin Situation - Need Advice!

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