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Replies: 19 / Views: 3,480 |
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Pillar of the Community
United States
4409 Posts |
Option 1
I'd pay the $100 and take my chances.
-MV
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Pillar of the Community
United States
964 Posts |
Get the money in his hands as fast as possible, and the coins in yours. Then high step it out of the house stiff arming any person between you and the front door. Jump in your car and drive it like you stole it. Get to a nice secure place in your home. Open up the box and say to each coin you pick up "My Precious". Is that an Option? I pick that Option!! 
Edited by Mr Click 05/28/2014 3:40 pm
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Pillar of the Community
 Canada
9865 Posts |
He set the price. It's not like you were attempting to lowball him.
"Dipping" is not considered cleaning... -from PCGS website
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Pillar of the Community
Canada
3049 Posts |
I have purchased 3 coin collections from estates.....
1st I went through the whole collection and paid pretty a percentage of the book that I thought was fair.
2nd we actually took the collection to a dealer and I said I would pay 10% more than what the dealer was willing to offer..
3rd I bought most of the items off of the individual at a percentage of the book price.. but there were a few coins I just couldn't afford and told them the value of the coins and let them know their best options.
I'm not a dealer... nor do I really wish to be... I like to collect the coins... heck I may even be a bit of a coin hoarder.. I just like things to be fair between both parties.. now if an established price of say $100 is set for a box of coins and both parties agree .. that's completely fine... but I am much happier (even though it's a bit more time consuming) to go through the collection and give a fair price... So I suppose I'm somewhere between option 3 & 4
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Moderator
 Australia
16844 Posts |
I would do option 3. If I sincerely believed they were worth much more than I could pay with cash on hand and I had a good enough look in the box to convince myself that most if not all of them were not fakes, I'd go for option 5.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Canada
2781 Posts |
#1 - If the seller sets the price and you pay it then deal is done fair and square. no different than picking up a great deal on ebay. but I only buy coins for my own collection, never with the intention of selling to make a profit. so if the guy was selling coins that I wasn't interested in I would 99% of the time tell the guy what they were really worth.
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Pillar of the Community
United States
541 Posts |
Pay the man his asking price and then ask him if he has any military medals and badges. Nice dream, when I go out looking all I usually find is way over priced junk.
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Pillar of the Community
United States
865 Posts |
I'd offer 20 and then slap the box out of the man's hand when he says no. Kidding of course. I'd pay the man and be on my merry way.
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Bedrock of the Community
Australia
21788 Posts |
I am on very good relations with a coin dealer who has the highest professional reputation recognized internationally. The business auctions maybe more than $10 million in coins per year.
There would be a 'no brain-er' policy for such a client: The coins would be auctioned, the client would take the price realized less fees.
The reputation of such an auction house / coin dealer is dependent on such a high level of professional integrity.
I consider option 1 to be somewhat dishonest.
Edited by sel_69l 05/29/2014 01:57 am
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Pillar of the Community
United States
567 Posts |
I also consider option 1 slightly dishonest, I personally would try to give them a fair shake at what the values were, and then tell him that I would pay less than book but probably more than a dealer would pay, honesty is always the best policy, for your own dignity, and withholding information is dishonest.
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Valued Member
United Kingdom
183 Posts |
tell him it's probably worth more but you'll have to check the contents in detail to be sure. Ask him if he's sure he's still willing to sell it for $100. if he does sell, then take it and upon confirmation that it's a bargain, drop a random coin into a charity box to try and pass the luck on to those that really need it.
HH
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Valued Member
United States
58 Posts |
I'd do 4 but I'd TELL him that's what I was doing.
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Pillar of the Community
Russian Federation
5174 Posts |
Realistically, offer him $30 (or $20, or $10, or $5, depending on when in the day it is and what I intended to do that day) because I'm highly unlikely to have so much money nearby. Then say that if he can wait a few hours while I go fetch it, I would give him much more money (probably between $200 and $500). If I actually have $100 on hand (say, if I already went out to buy some coins), probably something similar to option 4. Specifically, if I ever sell any of his coins, I'll try to give him at least half of the money (and yes, I'll probably say it initially). Just in case: if he ultimately doesn't want to sell it anymore - well, I would just walk away sadly but won't be particularly worried. More than once I had found good deals on coins, and almost every time I specifically asked if the guy really still wants to sell that coin for the price they gave  (and they almost always did - I'm not sure if I've ever received a negative reply). ...I'll try to make sure that at least I get my $100 back, however.
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Pillar of the Community
United States
964 Posts |
Just curious to how some of you will answer this? (Since most of you think you owe the person more money for the coins you purchased) I bought some new Silver Coins ( Baseball HOF curved coins) from the mint for about $50 knowing I would be able to sell them for double or triple what I paid on ebay. Should I go back to the US Mint and give them some more money? 
Edited by Mr Click 05/30/2014 12:14 pm
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Pillar of the Community
Canada
1747 Posts |
I had a dream or a day dream similar to this poll; What if, you were given the opportunity to buy someone's inheritance but there were no really big money coins. Maybe a bunch of Indian cents, wheats, maybe a few silver dollars etc... But there are rolls of cents, and you offer a fair price for the lot, but without looking in the rolls (you assume all pennies) Your in a hurry, the sellers in a hurry, no time to search through all the rolls. You go on your way, and later you open the rolls, and find pennies, but you also find in it a gold piece. I contemplated this, what would I do? Go back days later explaining what happened, perhaps offer more? Maybe just chalk it up to "Bank error in my favor" and take the win? Its an interesting scenario, and a dream for most of us
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Replies: 19 / Views: 3,480 |
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