Hypothetical Coin Ethics Question

It's really all hinging on whether or not you think the dealer is ripping him off or just doesn't know what he is looking at in terms of value.

Rip off = "I'll offer twice that, then explain to the seller afterward it is worth more and offer a compromise. (Assuming I want the coin)

Otherwise, I'd probably feel obligated to say something, the dealer is in the business, I don't condone bad business or in this case predatory business. The seller obviously needs cash, I couldn't just watch it happen.

If it appears the dealer is more honest than to do that intentionally, well then he wont mind much.

However, I would feel obligated not to say how much more it is worth, I could be missing something myself.

Yeah, but as said before, a dealer should know better than to sell a coin for way below its real value. Of course, if that were to happen, and you actually told the dealer his price was too low he/she may still give you a good deal for being honest. Plus, you'll be in very good standing with that dealer. Maybe that dealer would even think twice about ripping someone off when you're there.

At my local shop, the dealer has made it quite clear to me that I am not to interfere with anyone he's talking to...ever! However, if someone who was very innocent looking/unknowing was offered something totally absurd, I might mention something. Maybe just a quick mention "I thought those were worth a lot more than that," or something. So that maybe I won't get kicked out. If I was in a shop I'd never been to before, however, and if I was ABSOLUTELY sure of what I'm looking at, I would say something then.

Wheezydog made a very good point; genuine kindness/respect/care/honesty, it's all going away. People are shocked nowadays when someone is honest with them, especially when it envolves money. It seems they all think, "that's their problem, it's not my fault they weren't paying attention."

Ok what if the shoe was on the other foot. Let's say you were looking at something the dealer had but didn't know the true value of. Let's say said coin is worth $1000, and the dealer has it in his case without a price so you ask. The dealer says "hmm...I'm not sure, how about $50?". Meanwhile, another customer standing at the counter observes what's going on and says "I thought those were worth a lot more than that" and prevents you from getting a good deal. How would you feel about that?

I think it all comes down to this:

1. Coin dealers hold themselves out to the public as Experts. As such, they should have an obligation to deal fairly with the public, and not use their knowledge to defraud the public knowingly.

2. As Experts, it is held widely that a dealer prices his stock after giving his full consideration and knowledge regarding the value of any of his stock. Any deficiencies in an Expert's knowledge are the fault of the person calling himself an Expert and no one else's. If a person isn't an Expert, he should not hold himself out to the public as such.

It's funny, but the used equipment business I've been involved in is mostly about trying to buy things for pennies on the dollar. In that case I would never think of mentioning anything other than, "I'll pay $200 for it."

And in the context of the coin store, yeah, I think someone bringing in a coin assumes that they will get a fair appraisal from the proprietor. It's implied that he understands value and has a responsibility for giving fair prices. I once found a rare bill and tried to get it appraised. Basically all I got was "I don't know", but I only took it to one place that I remember (and he's since gone out of business). In fact, there's a lot fewer coin dealers in business now than their was 10 years ago around here (Seattle area).