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Breaking News To Someone About A Coin They Own

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Valued Member
United States
439 Posts
 Posted 12/16/2010  1:22 pm  Show Profile   Bookmark this reply Add monkeyman67 to your friends list
I am a new collector and I know that there is alot I do not know. When I first started collecting I went around to a few dealers and felt them out. I stick with one at the moment because I trust him. At this point I have only sold him the silver that I have found but I have asked him questions and he has always seemed to be honest and give me the answers that serve me best not him. I count on him to be honest and not take advantage of me. If I felt I was treated unfairly I would never go back to him.

It bothers me to hear that there are people ripping off old ladies, but we all know it is out there. How to proceed with this dealer is a tough call. If she does not want to pursue it then I would leave her alone. I think picketing outside of his store is a much more effective way to get your point across and you can leave her out of it. If he wants to give you $400 to stop then you can take the money to her. But warning people outside of his store and chasing away business will certainly get him to work with you.
Pillar of the Community
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3294 Posts
 Posted 12/16/2010  2:20 pm  Show Profile   Bookmark this reply Add nod2003 to your friends list
Or get you in trouble for trespassing. Just saying.
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 Posted 12/16/2010  2:26 pm  Show Profile   Bookmark this reply Add upstate to your friends list
There are rules for picketing, but it is an american right, just do it correctly.
Valued Member
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439 Posts
 Posted 12/16/2010  2:39 pm  Show Profile   Bookmark this reply Add monkeyman67 to your friends list
I doubt you would be sent up the river for picketing. Maybe asked to leave the premises.
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 Posted 12/16/2010  3:00 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list
I'm not convinced the guy is a dirt bag.....he might just be an idiot. If his main business is buying gold/silver, coins are a sideline & he has only been in business a few months he might be clueless enough to believe the coin is worth $400. Having said that, now that the problem has been pointed out he should make things right.
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 Posted 12/16/2010  9:08 pm  Show Profile   Bookmark this reply Add Kefiroth to your friends list
I can concur on the part that a lot of these "We Buy Gold & Silver" dealers generally know little about numismatics in general.

Just last week I went to such a place to get an opinion on my supposed 1911 MPL.

The guy said outright that it wasn't a matte proof because it didn't have a reflective mirror-like surface.
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 Posted 12/16/2010  9:53 pm  Show Profile   Bookmark this reply Add DavidZerbato to your friends list

Quote:
I think this is a completely wrong approach. I understand the motive, and it's all well enough, but if this guy ripped her off, he's probably ripping a lot of people off, and not only does this directly hurt everyone he rips off, but it also hurts numismatics at large, because people who could have turned into major collectors are stopped dead in their tracks by crooks like him. He needs to be outed, he needs to be dealt with, and he needs to be somehow forced to stop doing this stuff to people.

Walking through life with blinders on is NOT the way to handle this, and the sooner the lady figures this out the sooner she will stop blindly allowing people who have done her wrong to continue doing other people wrong. All it would take is a couple dozen of the people he has ripped off to come back to him and at least threaten legal action.

I tried the benefit of the doubt thing here too, but after seeing his response to a phone call explaining the problem, I am convenced the guy is a slime ball and needs to be treated as such. He is doing his small part to ruin the hobby for others, and this ultimately affects everyone who deals in coins and sells information about coins.


I agree that if he is actually ripping people off then yes, he needs to be dealt with, but the OP can't do anything, the buyer must take action, not anyone else. If the buyer is apparently happy, or doesn't care enough to do something about it, then legally, there is no harm. However, it's really hard to determine what actually happened, and I too don't like jumping to conclusions without knowing both sides.
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 Posted 12/17/2010  03:55 am  Show Profile   Bookmark this reply Add coppertop5150 to your friends list
O.k read some more responses.

Im gonna tell the hubby if he does try and return it .Do it at the busy time of the day on saturday .
This way the store might have customers,maybe he will just do the refund, Instead of arguing with the hubby.
If a arguments erupts the owner might loose the customers in the store.My thought is if the salesman gets nasty and rude it might chase off a potential buyer.So he might want to keep the vibe in the store pleasant.


I would post his shop name and adress( prob will if this takes a even turn for the worse ). But I have not heard both sides of the story like you guys also mentioned. Just her side and a phone convo from him.
I would like to see both parties together face to face and see what happens

I'd hate to slander anyone. Being in the middle its really not my part to do it.Plus I buy dateless buffalos at 25 cents each and doing pretty good restoring them from this guy.So for me he gives a fair deal on those.

The hubby and wife will have decide to persue it before I can really help.

Its gonne be hard to take a coin from them and go get a refund to her charge card if she is not with me in person .thats the position I'm in.

so its only a week to wait till chirstmas, my hope is if he does not offer a full refund hopefully some store credit on other things.At the correct price ofcoarse


When the hubby gets in christmas and goes in person to the shop and if nothing is done. This legal recoarse will prob be the only option.

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 Posted 12/17/2010  09:13 am  Show Profile   Bookmark this reply Add OneBowl to your friends list
I don't see any successful legal recourse in this matter. Heck, there's not even a willing plaintiff at this point. Even if a small claims action were filed and won by say, a summary judgment, collection is another matter. Then you're probably looking at a counter claim too.

My take: Let the husband drive after Christmas on this one. If the business practices of the shop owner are way out of your comfort zone afterward, then pound some local area review sites with comments. That may be the best shot at warning the public at large. Then you can let it go knowing you've tried your best to assist. I do heartily commend your intentions.
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958 Posts
 Posted 12/17/2010  4:14 pm  Show Profile   Bookmark this reply Add coppertop5150 to your friends list
Well the 1955-d she paid 400 for
is on ebay for $325 better grade

Now If he takes legal recource would the owner be able to say hey others are selling them at $325
that within %20 variance.

Sure the grade is lower on the one she bought , but it does not strenghten a case from the plantiffs point of view.

makes me start to wonder if " what people will pay , will hold up in court " versus what a book says.

Year ago I saw on t.v elvis underpants were sold at auction expecting to draw in $5,000 they had E.P in ink written in them them from when he was in the service and they did 10 times what was expected
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 Posted 12/17/2010  4:21 pm  Show Profile   Bookmark this reply Add Scooby Due to your friends list
Should have posted this here instead. That other thread is getting off topic.

The coin on ebay is a registry coin. Only 11 in this grade and none higher (if the seller is listing fact).

What condition did you say this one was?
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 Posted 12/17/2010  4:23 pm  Show Profile   Bookmark this reply Add fenton to your friends list
At least it is only a $400 mistake. She'll take it as a learning experience and hopefully never repeat the error.

Not as bad as the $16,000 mistake where someone buys a $40k vehicle, decide they don't like it after a couple months, and trades it in for another new one. Oops 20% off the lot depreciation x 2. Financial suicide "roll it into the new loan". Happens every day.
Edited by fenton
12/17/2010 4:24 pm
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 Posted 12/17/2010  4:38 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list
I am going to be honest, no matter what kind of deal you are getting from this guy, if he is as crooked as it seems I wouldn't want to do business with him anymore. That is just my opinion, no matter how well I do on things, if someone is taking advantage of someone else and I find out about it (especially a friend) I will never do business with that person again even if it costs me in stopping my dealings with this person. he is supposed to have some knowledge about what he sells and some people will trust his knowledge when coming in like your friend did. You wouldn't want to go to a lawyer that had never went to law school and have them give you advise on a legal matter because they are supposed to have the knowledge that you do not have to make a recommendation to you and then you can make your own decision from the advise given by the professional. If you also went to law school and then some other lawyer you sought advise from lewd you the wrong way you would be educated enough to know they were full of it. Its the same with numismatics, a knowledgeable collector would have known not to buy the coin but someone that doesn't know anything about coins is expecting the seller to give advise that the buyer lacks
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 Posted 12/17/2010  8:00 pm  Show Profile   Bookmark this reply Add coppertop5150 to your friends list

You guys are right it could be worse ALOT WORSE
she could have paid $3000 for a poor mans double die put into a real 55 DD slab and been totally defruaded

All in all I think her exp in some ways is good , sure loosing 400$ sucks
becuase she lost 400$ maybe her new husband will be cuatious on other stuff
like getting 2-3 estimates on home repairs, yard work , automotive work
Instead of getting taken to the cleaners by hiring someone that a recommending of a friend.

She was a widow along time 20 yrs and has only been with him a few years now , so he can keep a eye on her closer to avoid the rip offs she has had for the last 20 yrs

My first clue was when she ( before she met her new hubby 3 years ago other one passed away 23 yrs ago) around 5 years ago she had a random sales man come to her house
Outta the blue and sold her a water cleaner purifier. He told her the city water was posion and she could have health problems drinking it like cancer,tumors and even die from iron toxicity and unless she wanted to die she had to ether stop drinking the water or buy the system.
I kept asking her how much she paid for it ,almost a year later she admitted to have it installed was over $2500

That was my first hunch she was pretty niave , esp after being a widow for 20 years no one to guide her in finacial choices.

One plus is everyone on CC that has a wife with no knowledge of coins might want to tell the wife if you ever want to buy me a coin please take me with you , will wrap it and put it away untill my birthday/christmas.

I'll still lend a hand the best I can after christmas to see if they can get a refund/exchange
But I cant drag um down to the coin shop ether.

I will take all the evidence you guys helped compile . Like pics of a real 55 dd and prices , expert knowledge of a price for a 55-d dd how common they are , show her the discription and grade of her coin to verify its a 55-d dd not a 55 dd.

She is a old lady 66, a real push over just trying to do nice things for people He is almost 70 but I think he will be ticked once I show him the pics and the prices, would not surprise me if he went down there with a gun in his hand and shoved it in the guys nose, with all the crazy stuff on tv nowadays its prob would not even make the 6 oclock news, unless he pulls the trigger.

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 Posted 12/18/2010  08:57 am  Show Profile   Bookmark this reply Add lukkyseven to your friends list
I think once all is said and done you should at least post the name of the shop + the area that it's in so people around that area can stay away - Hope all works out
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