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Question On Pricing Errors Or Mistaken Prices..

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 Posted 10/26/2020  1:16 pm  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply

Quote:
The first thing I would think is that it's a counterfeit.


Me, too. I'd wonder what was wrong with it.

This is nowhere near a $20k mistake, but I saw a bunch of older coins at a yard sale once—a couple was clearing out grandma's house, and just trying to unload what they could. I picked through and they had a couple Standing Liberty quarters, some Walkers and several Mercuries, along with a good pile of wheaties, mostly pretty well circulated but the SL's and walkers looked maybe AU to me. Wanted something like $10 for the bunch (I think they just figured they'd ask a little over face value). I grabbed them before someone else could and took them to the person taking money and told her I couldn't swear to the actual value, but I was certain she could get more than $10 from a dealer. The melt value on the silver alone would've been at least $20.

Would I do the same with an actual dealer? Probably. I'd be more likely to think I was missing something and they knew what they were doing, so I'd probably say something like, "what am I missing here?" Which would alert them, right?
Edited by twslisa
10/26/2020 1:20 pm
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 Posted 10/26/2020  2:13 pm  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
A friend or someone I know; I would tell them.

If at a dealer I would ask if the price is correct. If one I have a regular business relation with I would say something.

Online or coin stores I visit when on vacation - not a word about their mistake. I feel like they should have done better research OR attention to detail on their price input if a typo. Honest mistakes occur and prior to transaction it can be rectified/cancelled. But if the transaction has already completed on both parties part, I am not going to lose sleep. They didn't realize what they had or inadvertently got sloppy without double checking inputs. Neither are my issue. To me it is like cherry picking - find the diamond in the rough. Seller beware applies just as much as buyer beware as tdz mentioned.
Member: ANA and NGC
My Want list: http://goccf.com/t/188411
Edited by scopru
10/26/2020 2:15 pm
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 Posted 10/26/2020  9:08 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
Anyone watch Antiques Road Show?

Have you ever heard the person with the antique they bought for $20 be told it's worth $1,000, and then say "Oh, I feel terrible. I'd better go compensate the seller better?"

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