Ethical Question About Selling - Coin Community Forum

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Author	Replies: 5 / Views: 1,078
Stephen420 Valued Member United States 411 Posts	Posted 05/24/2006 5:46 pm I have never sold anything on ebay. I'm thinking of giving it a go. My question goes directly to the issue of pricing. Since I discovered ebay, I've noticed that toned Washington quarters from the 50's, slabbed by PCGS regularly sell in auctions and in BUY IT NOW for very HIGH prices. I know because I got outbid on every one I found until I gave up. Just a few days ago I saw a similarly toned 1958 Wash quarter, MS66 graded by PCGS sell for almost $500. As it happens, I have a 1958 and a 1959 quarter, both of which are attractively (to me), heavily toned. The 58 is MS66 and the 59 is MS65, both graded by PCGS. It is certainly tempting to try to follow in that seller's footsteps, even though a 58 quarter in MS66 condition has a very modest value. And this is not an isolated incident. Do a search. People are paying big bucks for certified toned coins. I'd part with my quarters for such a premium. I can't help but think, though, that it would somehow be wrong and deceptive. Do I have a responsibility to protect a buyer from him/herself? Is it enough to provide accurate photos and description, pointing out any potential issues with the coin and leave it at that? What about BUY IT NOW? If I put those quarters up there for what I consider a ridiculous premium, and describe them as accurately as possible, have I fufilled my ethical obligation to potential buyers? These are the coins, by the way (the colors are more vivid that in the pic, and the luster is abundant): Report this Post to the Staff

SsuperDdave Moderator United States 23522 Posts	Posted 05/24/2006 5:59 pm In my opinion you are satisfying the most demanding moral and ethical judgement by listing the coins as honestly as you can. Include the best possible pics, be absolutely accurate in your description, and ask whatever price you think the market will bear. It is not for you or I to judge what another considers the worth of a given coin. Those who are turned on by toners are spending discretionary income on items which they personally have great appreciation for. They also probably have a better feel for the market worth of such a coin than we do. Remember, in the end analysis, numismatics is a purely subjective hobby, regardless of any attempt to quantify quality. Beauty is in the eye of the beholder, as is the decision whether their hard-earned cash is to be used to acquire such beauty. Edited by SsuperDdave 05/24/2006 6:01 pm Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 05/24/2006 6:00 pm I do not think that it would be unethical at all to list a toned coin at a high BIN price as long as the auction itself is not rediculously overhyped like some people do. A buyer can be assured that they are accurately graded since they are slabbed by PCGS, not some guy in his mom's basement. I have seen people pay double or more over the greysheet ask for rainbow Morgans and not bat an eye. Some collectors only want atractively toned coins and will pay big money for the nice ones. I think that accurate photos, excellent descriptions, and no hype always make for good honest auctions. After that, it is up to the buyer to decide if the coin is worth that price to them. Report this Post to the Staff
TLS5933 Pillar of the Community United States 1703 Posts	Posted 05/24/2006 6:14 pm quote: Originally posted by SuperDave In my opinion you are satisfying the most demanding moral and ethical judgement by listing the coins as honestly as you can. Include the best possible pics, be absolutely accurate in your description, and ask whatever price you think the market will bear. It is not for you or I to judge what another considers the worth of a given coin. Those who are turned on by toners are spending discretionary income on items which they personally have great appreciation for. They also probably have a better feel for the market worth of such a coin than we do. Remember, in the end analysis, numismatics is a purely subjective hobby, regardless of any attempt to quantify quality. Beauty is in the eye of the beholder, as is the decision whether their hard-earned cash is to be used to acquire such beauty. Exactly. There worth whatever the market will bare. As long as you give an accurate discription and are truthful in you discription,you have nothing to feel guilty about. Report this Post to the Staff
ziggy29 Valued Member United States 157 Posts	Posted 05/25/2006 4:01 pm Agreed with the others. Just describe it accurately without too much overhyping, get a good image of it that represents the look of the coin accurately, and let the chips fall where they may. My poster child for this was an AU-50 1891 Indian cent a couple years ago which sold for $51. I suspect two people entered "nuclear snipes," the lower of which was for $50 (which they probably thought sufficient for winning). At first I wondered if this was some cool variety I was missing, but it wasn't as far as I know. I represented the coin accurately and someone chose to pay me 3x market value for it; it was their prerogative to do so. Report this Post to the Staff
FYI Valued Member United States 177 Posts	Posted 05/27/2006 03:20 am I know from experiance that you will be lucky to get $300 for a coin that is worth $500 if you do not have a good feedback rate with lots of feedback and lots of coin selling experiance. I , personaly, wont buy from someone with less than 80 fedback and 98%good feedback. there is no question on ethics, but you might actualy get more though "i sold it on ebay" or another like company that sells items for you for a fee. this is because they have branches across the country and almost 1,000,000 feedack and 99.9%. so I think you should go for it, if you already have an account Report this Post to the Staff
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