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Rookie Here Who Needs Some Help On A Dicey Situation With A Coin Shop!

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oriole's Avatar
Canada
5253 Posts
 Posted 01/20/2017  5:19 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
@Chute72, the payment was likely split because they were short of cash. My LCS may temporarily be short of cash if they had a lot of buys recently.
Valued Member
4504's Avatar
United States
379 Posts
 Posted 01/25/2017  7:41 pm  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
I dunno. my local coin shop would bend you over to screw ya if they could. let's say they way underpaid you... would they make it up to you? I doubt it. I really do.

personally, I would just split the difference. like the man says, if an atm starts spitting out $20's, it is not really yours... but still, he should pay something over and above what it was really worth to compensate you for all the trouble it caused you.

at my shop you need an id for any kind of transaction, and it is written out on the receipt so as to minimize any slip-ups.

I am not saying you should be able to keep ALL of it... but I am saying that if he sized you up as an ignorant and paid you only $10 an oz., I doubt that the shop would make it up to you to even near spot price. so why should the shop get clean away?

at my shop, they are pretty clear of what they will pay by way of a large billboard and signs, so it is hard to make an error on either side.

if you take him to court for the whole amount he paid you, the judge will problably think you are greedy and rule against you.
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Steele's Avatar
United States
1119 Posts
 Posted 01/25/2017  9:51 pm  Show Profile   Bookmark this reply Add Steele to your friends list Get a Link to this Reply

Quote:
Yes it is very uncommon and probably a violation of a City bylaw in 99.99 % of most civilized places in North America.
There are even HOLD requirements in a lot of cities of up to 30 days .

not here
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nss-52's Avatar
United States
54283 Posts
 Posted 01/26/2017  08:19 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply

Quote:
he should pay something over and above what it was really worth to compensate you for all the trouble it caused you.


If you sell 50 things, but get paid for 100 things, you are not entitled to the money for the extra 50 things. Making an over payment, does not mean the receiver gets to keep it.

It is not the coin shop's fault if the seller spends money they should not have been paid, then gets burned with fees because of it.

I think the seller (husker) came here looking for support for the idea that the buyer (coin shop) shouldn't have the right to stop payment on the check. I do not buy the fact that because someone is "new" they "had no idea" that their 50 troy ounces of silver wasn't worth $1,650 instead of $825. The price of silver is readily available and so are calculators.

I have the feeling that the seller knew they were overpaid, and perhaps spent that money wrongly thinking that it wouldn't be recoverable if spent. They wouldn't be in this position if they had let the coin shop know that they were being overpaid.
Rest in Peace
Buddy's Avatar
United States
7075 Posts
 Posted 01/27/2017  4:58 pm  Show Profile   Bookmark this reply Add Buddy to your friends list Get a Link to this Reply

Quote:
I think the seller (husker) came here looking for support for the idea that the buyer (coin shop) shouldn't have the right to stop payment on the check. I do not buy the fact that because someone is "new" they "had no idea" that their 50 troy ounces of silver wasn't worth $1,650 instead of $825. The price of silver is readily available and so are calculators.


And I don't think the dealer is responsible for overdraft fees. We all have to wait for deposited checks to clear.
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