Mercury Dimes For 3 Times Face Value?

There is good business and bad. I would not have interfered, but I would not have continued my own transaction with this guy. I figure, if he's going to do that to him, he'll do the same to me. True, another dealer might too. But this snake showed his hand.

I normally mind my own business. Under the circumstances, I might have told the old guy what was going on.

Last week I gave 2.75 for a 1916 S .

docsfishn: Shocked you never make it to the coin shows. Constantly the 1st, 2nd and 3rd sundays of every Month. Countryside is the best. Hope to see you there.

You guys are so full of it sometimes. Acting like Dudley do-rights. I'll bet that there have been tons of times that you bought or sold something that was more or less than the current value, but one in your favor. Before you go acting all hollier than thou, think about all those good deals you got in life and how you had to rip someone off to get those. If you always make sure that the other person is getting a great deal when they are dealing with you, then you are shorting yourself. It is a zero sum game.

So then the question is, if you all are also taking advantage of others, how do you live with yourself? And if someone says, "I find good deals but I dont rip the perosn off", then where do you all draw the line? Is %10 under value fair? Is %20? 50? And how do you deal with the other things in life? Do you shame other good deals? If someone buys a car off of a another person, getting it for $2000 less than market value, do you also critisize them for ripping off the other person? Taking 2 grand away from their kid's food?

Tukimeister, you threatened assault if you saw a business deal that you didn't like take place. Do you think you are in the right? Are you implying that assault is fine but buying well under market value isn't? If you did what you said, then you would be a commiting a possible felony and deservedly could be thrown in prison. (Edit: OK, after rereading it, you wouldn't have committed a felony, just embarrassed a person.)

Glass houses and all that stuff.

What if the old man was actually a professional trickster? And all the Mercs were fake... That'll be a revelation...

I really enjoy these ethical discussions. Thanks for posting this carl. I'm not sure what I would have done if it were me standing there. Maybe something like Tykimeister, but without the slapping. Or I might have stayed silent as well. I know that, personally, I would have trouble going to that dealer again, regardless of how good a deal I was given.

And then again, I may have kept quiet. How many of use have been in coin shops when someone comes in selling a great looking Morgan that the dealer offers them melt (or less) for? It's happened several times to me. One owner even has a bucket filled with scrap silver that he waves in the face of the person to show them where their supposedly worthless coin will end up. It actually goes in a 2X2 in the showcase. I always stay silent in these transactions. I'd really like to offer 2X melt but that would be the end of my going into that store. I know my silence makes me complicit in this rip off but I don't feel too much guilt about it.

paland, I don't agree with your holier than thou statement, but I think you hit the nail on the head about the degree to which people are comfortable with getting a good deal. We have all gotten our good deals and so we're all guilty of ripping someone off - at least in some sense. When I see an IHC with an AU grade selling for $3 in an antique store, I buy it. I don't go up to the counter with it and say, "Excuse me sir, but you should charge me more for this. It's very valuable and I would hate to see you get taken."

The old saying caveat emptor, buyer beware, applies here. We all try to educate ourselves as much as possible so we don't bleed money every time we make a purchase. But sellers need to beware too. If you don't know the current value of what you're selling then you're asking to get taken. You should take responsibility and educate yourself before you come to the table to sell. Not everyone is as nice as the people in this forum.

Actually, it is very simple for me. if you are a business, I assume you know what you paid for an item and know the gross profit needed to run the business and set your selling price accordingly. I feel no obligation to adjust their pricing. Now, when dealing with an individual who really has no idea what they have or are dealing with, I try to grade properly and then offer current Gray Sheet bid for any coins that I am interested in. In essence, I am trying to buy as if I am reputable dealer and the dealers appropriate profit margin is what I am putting in my bank. This is not gouging or ripping off anyone. Carl's example is gouging and usurious.

No, this is not holier than thou, just me. I am also the guy who recently found a twenty dollar bill in the isle at Wallyworld and turned it into the manager. I am too close to meeting my maker and I am looking out for my soul.
Jim

Paland

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Tukimeister, you threatened assault if you saw a business deal that you didn't like take place. Do you think you are in the right? Are you implying that assault is fine but buying well under market value isn't? If you did what you said, then you would be a commiting a possible felony and deservedly could be thrown in prison. (Edit: OK, after rereading it, you wouldn't have committed a felony, just embarrassed a person.)

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It was more of a figure of speech. What I meant was, I would be sure to tell the old man what a fool he was being, and I would be sure to show that dealer what happens when you get that greedy.