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Coin Store Etiquette -Wwyd?

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joshkellogg's Avatar
United States
150 Posts
 Posted 05/30/2012  2:48 pm  Show Profile   Bookmark this reply Add joshkellogg to your friends list Get a Link to this Reply
I'm with hondo. Take the 1912 d, but on a larger mistake, i'd take the karma. Maybe the 1912 s will show up for free in a roll!
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52Raymo's Avatar
United States
8516 Posts
 Posted 05/30/2012  4:15 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list Get a Link to this Reply
I would buy it from the dealer and then loudly exclaim " holy cow, look at this " and see what his reaction would be.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Center Pin's Avatar
Canada
178 Posts
 Posted 05/30/2012  4:29 pm  Show Profile   Bookmark this reply Add Center Pin to your friends list Get a Link to this Reply
I almost always bring my kids with me to the local coin stores, and more often than not they find a something valuable in the 10 for a dollar bin that should not be there. They always alert the owner as they have been taught. Now when we go to these stores we get treated like family, and the kids always get a pocket full of gift coins. Carma 101.
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trdhrdr007's Avatar
United States
2335 Posts
 Posted 05/30/2012  4:30 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply
As a small time antique dealer I guess I look at it somewhat differently. I buy items in my area of expertise all the time that other dealers have not priced high enough.....& know for a fact that I underprice items outside of my specialty.

I talk with other dealers about "scores" we have made at local antique malls on a regular basis. I once had a dealer brag to me about an item he bought for $12 that sold for over $400 on ebay. Turns out it was my item he scored on. I was under the impression the item was a replica; he knew enough about it to know it was the real deal.

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52Raymo's Avatar
United States
8516 Posts
 Posted 05/30/2012  5:04 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list Get a Link to this Reply
Trdhrdr007.... Did you let him know it was you that he scored on ? What was his reaction ?
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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spaceace's Avatar
United States
797 Posts
 Posted 05/30/2012  5:04 pm  Show Profile   Bookmark this reply Add spaceace to your friends list Get a Link to this Reply
If it was a minimal difference I would probably buy it and not think too much about it, but if it was a decent difference (even something as little as $10 difference) I would mention it. Partially because it is the good and honest thing to do (karma) and partially because I know I would have that "I want to buy this coin but I look really guilty of something" look on my face as I tried to pay for it. Also, I think it depends on the dealer. I have 2 dealers at coin shops and shows that I really like and I am always looking to buy from them first. They are honest, have decent prices (not always the cheapest, but fair), and they are very helpful and overall good guys. I would never buy anything that I thought was mismarked without mentioning it first. As a matter of fact I did that once for a coin that was marked wrong by about $17 and he ended up giving it to me at the cheaper price because he appreciated the honesty. On the other hand, if the coin dealer was a real tool or a grumpy old man then I might think a little harder about mentioning the mistake to them...
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 05/30/2012  6:29 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
To be brutally honest, and this is in no way intended to offend anyone, I would have to say that it is all too easy to sit behind my monitor and anonymously say I would do the right thing. I can say this, I do not know enough about Liberty nickels to spot such an error. I will also say that I don't know what I would truly do if I ever found my self in a similar situation.
Valued Member
United States
55 Posts
 Posted 05/30/2012  6:47 pm  Show Profile   Bookmark this reply Add Radarcoin to your friends list Get a Link to this Reply
I'm really torn on this subject, though I'd like to think I'd point out the mistake.
We are fortunate to have several coin dealers in the local area and some I considered my friends and others, well I don't often darken their door. Recently my friendly dealers looked at my collection of Liberty nickels. The collection doesn't have the main key dates (1885,1886)but consists of the rest in VG to F or better condition, including the 1912s. Since my Dansco has two pages, I filled up the second page with nickels of G condition, though some are of higher grade. Again, no key dates, 1885, 1886, or 1912s. The book has 63 nickels, which includes a Racketeer nickel and several spares.
I feel my friendly dealers really lowballed me on the set. One said he had to eat too, but my thought is he must eat higher off the hog than I do! I was hoping to get at least half of what I had into the set, but offers were less than a quarter of that and less than what I gleamed from the Blue book. I don't really need the money, so I'm holding onto the set but questioning my investment. We are in the middle of moving to a new place and the extra bucks would have helped out.
Sorry to be so negative, but questioning if I should buy the key coins from these guys. If I found a 1885 or 1886 in their junkbox, I still hope I would call it to their attention. At least I could still look at myself in the mirror.
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specksynder's Avatar
United States
1080 Posts
 Posted 05/30/2012  7:16 pm  Show Profile   Bookmark this reply Add specksynder to your friends list Get a Link to this Reply
If you want a long term relationship with the shop, it pays off to alert them to stuff like this. I used to go through junk silver dimes by the bucket, and I would always bring up anything odd -- proofs, seated lib, whatever. Sometimes they let me buy them at junk price, sometimes they said "no sale" but they always appreciated it and made it worth my while some other way. They were also more willing to let me look through other stuff knowing I don't try to put one over on them.

If a dealer gives me a great deal and we both know it, that's awesome. If I thought I snuck one past the dealer, I think I would have a hard time enjoying that coin in my collection.
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aandabooks's Avatar
United States
223 Posts
 Posted 05/30/2012  8:55 pm  Show Profile   Bookmark this reply Add aandabooks to your friends list Get a Link to this Reply
I would say that at the end of the day, it is the seller's responsibility to price his merchandise accurately.

How many of you have hit a smokin' deal on a BIN on ebay and when you've gone to pay, sent the extra money to bring it up to full price?

I have a good relationship two dealers and would honestly probably tell them if they had something underpriced. The other two that I deal with, probably not.
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ArrowsAndRays's Avatar
United States
1656 Posts
 Posted 05/30/2012  9:10 pm  Show Profile   Bookmark this reply Add ArrowsAndRays to your friends list Get a Link to this Reply
Situational ethics - aren't we all 'cherry picking' when we can?. At a local show I heard the sound of a bag of silver dollars being dumped into a dealers "$28 each" box of Morgans. You know that sound - you're drawn to it. I am NOT an expert but I quickly picked out ten that were certainly not junk silver, including an 1889 S, worn 1878 CC, and an 1899 O. $275, he knocked off $5. I made out, and I'm certain he made the profit he was expecting.
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CoinHunter53562's Avatar
United States
2049 Posts
 Posted 05/30/2012  10:42 pm  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply

Quote:
I would say that at the end of the day, it is the seller's responsibility to price his merchandise accurately.

How many of you have hit a smokin' deal on a BIN on ebay and when you've gone to pay, sent the extra money to bring it up to full price?

I have a good relationship two dealers and would honestly probably tell them if they had something underpriced. The other two that I deal with, probably not.


Agree with the seller responsibility 100% but at the same time I have pointed out mistakes to dealers that I have a good relationship with and it always pays off in the long run.
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enworb's Avatar
Australia
4411 Posts
 Posted 05/30/2012  10:52 pm  Show Profile   Bookmark this reply Add enworb to your friends list Get a Link to this Reply
Take it and run. They should know what they're selling. Unless you have a VERY good relationship with the dealer why not?

Say a dealer had correctly identified a coin but priced it $100 when the market is around $200, would you offer him more? Of course not!

Im sure for every mistake they make underpricing or misidentifying they manage to swindle 10 old ladies and overcharge to 10 young kids.
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614 Posts
 Posted 05/30/2012  11:42 pm  Show Profile   Bookmark this reply Add tzarmarko to your friends list Get a Link to this Reply
I have a great relation with my coin dealer. Recently, I found a Canadian dollar in the 25 cent bin. I alerted the guy. He said thank you very much, and then let me take any other coin from that bin for free!
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sel_69l's Avatar
Australia
21786 Posts
 Posted 05/31/2012  12:22 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Everybody has an 'honesty quotient'.
The question is basically this:
'What is the level of your honesty quotient?'

With the repsondents to this question so far, there is a bit of 'Ying' and 'Yang' in them all.

If there was only dishonesty, business generally would not function. Trust in people you do not know is essential for business.

Applies to both sides of the deal.
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