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 Replies: 21 / Views: 2,804 |
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Valued Member
United States
57 Posts |
OK...I bid on an auction on ebay on an MS64 common date in PCGS, based on the picture (attractive toning). I won the coin for $43..not a great deal, but not bad either. When I looked at the picture of the coin in the auction, I noticed it was different that the auction title. So the coin arrives, and it is the coin pictured in the auction...exact coin. The value of the coin I rec'd was well in excess of $1,000. I sent the seller an email telling him I liked the coin I rec'd, and although it wasnt the one described in the auction it was still good. I know it might be unethical to keep it, but since it was the coin pictured in the auction I will sleep OK. Should the seller email me and notify me of the error I will obviously help him out, but I dont feel any obligation to tell him the value of the coin, just that I rec'd that coin. Thoughts? Edited by TerrapinWill
06/10/2005 09:13 am
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Pillar of the Community
United States
2724 Posts |
I am sure that I will be in the minority with this thought, but I believe that you should make the seller aware of the mistake and correct the problem. If you turn this situation around and paid $1000 for a coin and received a $40 coin, you would be going crazy until the situation was resolved.
It may be that the seller has no clue, or could have been a simple mistake. When I buy coins and find one that was not properly paid for, I make up the difference. As I am sure that many would tell you to keep the coin, it is only your choice. If you can sleep at night knowing that you benefitted by this mistake..........
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Pillar of the Community
United States
2724 Posts |
quote:
Originally posted by TerrapinWill
but I dont feel any obligation to tell him the value of the coin,
One other thought on this comment, and I will leave it alone. I can only talk for myself, but for me, I feel a responsibility to the collector, to the hobby, and most important of all to myself. Each week I have the opportunity to "take advantage" of sellers, but I choose not to. This isn't because I don't like making money, but if I were to act like the majority of others and not care, what would be the point? My goal is to benefit the hobby, not my wallet. It is my personal belief that taking advantage of the "stupid" people tells a lot about the person. Please do not take this comment as an attack on your character as it is not intended to be. This is simply my personal view. Cherry picking a coin, making an unknown attribution, or discovering a variety are all forms of a good buyer, and I highly recomend it. Receiving something that you did not buy is not. Nuff said. |
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Pillar of the Community
United States
1203 Posts |
All I care to say is I hope you keep it fair and square.
Treat this guy as if he were you and the situation were turned around. In that way there will never be a bad taste in your mouth every time you look at your purchase. Just my oppinion.
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Valued Member
United Kingdom
188 Posts |
That's a problemmatic one, I wouldn't like to be in that situation.
I think i'd probably send it back, I'm too honest for my own good, but i'd feel better for it.
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Valued Member
 United States
57 Posts |
The thing is, the coin pictured is the exact same coin rec'd. I just don't feel obligated to tell him the value, but did feel obligated to identify the error. If he has no knowledge, then my feelings are "seller is responsible for content of listing". If this is a knowlegable dealer who made a terrible mistake, that person would have noticed by now as the coin in question is not a coin one would leave laying around or not notice when packaging. I mean there were 5 photos of the coin, including the label.
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Valued Member
United Kingdom
188 Posts |
Yes very true...
The dealer should have done the research and known exactly what he was selling, it's his own fault if he's done himself out of cash.
The final decision rests with you (i know what i'd probably do, i'd be inclined to send it back, but that's me) but personally I think you'd be well advised to keep it. If he sent you the coin pictured you've done nothing dishonest.
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Valued Member
United States
57 Posts |
I really want to keep it, not to sell it for the substantial profit which would be huge....but it is absolutley beautiful and a coin I would like to keep looking at for a long time.
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Valued Member
United Kingdom
188 Posts |
I think you should keep it then. I don't think any of us here would judge you regardless of what you do. The circumstances are exceptional and in your favour.
It's the cherrypick of a lifetime.
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Pillar of the Community
United States
2724 Posts |
quote:
Originally posted by TerrapinWill
I really want to keep it
Then pay the difference. It sounds as if you have already made up your mind on this matter. |
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Pillar of the Community
United States
1247 Posts |
What is the value of the coin in MS62 or 63? Maybe the the coin in the holder is overgraded. Are there rubs on it? AU58s can often deceive people. Weren't others bidding against you for this coin?
Maybe you did get a cherry but I'd do a lot of double checking first if were me. Make sure your the hunter in this and not the hunted. Coin dealers often miss valuable varieties because they are too busy or too lazy to check. But what your describing is a more obvious blunder that dealers typically don't make. But if you got a cherry you have to do what suits your conscious. The other camp says that dealers are suppose to know their business and if they don't there's no incentive for them or anyone else to learn from their mistakes if they are coddled and "victimized."
The most expensive blunder I ever heard of was a rock collector who around 1983 or maybe late 1982 cherried a 5 million dollar emerald for $10 from a minerals & rock dealer. It didn't take the collector more than a few seconds of looking to realize what he had so why couldn't the dealer have done the same thing?
Your icon looks like a military insignia. What unit is it?
Edited by longnine009
06/10/2005 5:40 pm
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Pillar of the Community
Australia
1091 Posts |
Just my thoughts...Correct me if I'm wrong. This coin was put on an ebay auction. The starting bid was low. Others had the opportunity to examine the picture and bid on this coin. So even if you had bid $1000 on this coin and the second highest bidder bid was $42 then you would still have won this coin for $43. Thats the auction. You have done nothing wrong. Perhaps the seller bought this coin from someone else at a very low price both never realising it's value. The seller was happy with the sale if not the seller could have withdrawn the sale. There is a news story about a nice lady who bought an old stove. as it was being loaded on her truck found it was full of old coins. She kept them. It's all part of the treasure hunt. https://goccf.com/t/1374I think this is every coin collectors dream. To get a real treasure for a low price.  It's every dealer's nightmare to sell a treasure at a low price.  Edited by toast
06/10/2005 10:06 pm
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Valued Member
United States
57 Posts |
Still no contact from the seller, after two emails. I have done my best to give seller a chance. At this point I feel OK about keeping the coin.
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Rest in Peace
United States
2684 Posts |
Just to add my two FE cents worth, my Boy Scouting background would require that I contact the seller and advise him of the apparent discrepancy; after that, negotiations might lead me to either send it back or to offer him a higher price. This is just me; others might do differently. Since you bought the coin fair and square, you are under no legal obligation to advise the seller that he made a mistake. Of course, this presumes the coin is authentic and is as represented in the slab which, if it's PCGS, is almost certainly as described. Since you've already notified the seller and he apparently has failed to respond, I would think that you have fulfilled your ethical and moral obligations and should keep the coin with no guilty conscience. Every once in awhile, it's nice to see a little guy win one.  |
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Rest in Peace
United States
2884 Posts |
Terrapin Will, I have been watching this post to see what others thought and most importantly, what you thought. This is obviously causing a moral dilemma for you. You attempted to square this dilemma by doing everything but tell the seller the simple truth! That of course being that a drastic mistake was made on the true value of the coin. Do not embarrass him with his mistake! No need to be cryptic, just describe the situation as you have here and see what he says. It should not matter whether or not the person knew better, you now do. Once you have done this, based on his response or lack of one, you then will then have done all you can do. I always seek to appeal to people’s sense of fair play, and from what I read in your posts, I think that is what you seek to do as well. Our opinions are just that, opinions. Try not to seek justification for something you think may be wrong. It's not fair to you, and it can be hard on those you ask.(not wanting to make you feel bad) The only right answer is yours . You know in your heart what's best for you and I'm sure you will do the right thing! Remember the "Man in the Mirror" Mike, Peace  |
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Rest in Peace
United States
2884 Posts |
TerrapinWill, just out of curiosity, what did you end up doing with the coin? Mike |
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Replies: 21 / Views: 2,804 |
Posted 06/10/2005 09:40 am
