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Minor Dilemma

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silverexile's Avatar
United States
205 Posts
 Posted 07/17/2014  1:00 pm Show Profile   Bookmark this topic Add silverexile to your friends list Get a Link to this Message Number of Subscribers
Hi all, For opinions.

I was in a small local pawn shop (again!). I had prviously bought a couple of eagles from them for close to melt price.

This time thay had some Maples, Standing Liberty halves and some Quarters.
I got a good price for the Maples.
The Halves were a touch high ($10) but decent condition, but I was interested.. I'm not a great collector of the quarters (1940s and 1960s) but I asked how much they were.. He said $2 each.

What would you do?

I told him they were worth more.. Didn't want to steal.. In the end we agreed a price for the whole lot what was below melt, but still better than he was asking.
(Maples were $20 each wihich I now realize is a great price, I think)

In the end I wanted him to deal with me again so thought it worth telling him.
Boy, did he look bemused when I offered him higher than he was asking.
This was not a great hoard of coins...

Opinions...?
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keepcalmandcoinon's Avatar
United States
865 Posts
 Posted 07/17/2014  1:08 pm  Show Profile   Bookmark this reply Add keepcalmandcoinon to your friends list Get a Link to this Reply
Sounds like you were honest with the guy which will probably benefit you with this dealer in the future.
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denco7's Avatar
United States
2543 Posts
 Posted 07/17/2014  1:26 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
I have found through my many many years of collecting, that cultivating sources and suppliers for my future collecting, is far better than getting one time great deal on any single coin.
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jimbucks's Avatar
United States
4692 Posts
 Posted 07/17/2014  1:52 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
If he was asking below market value he likely paid someone who had no idea of the value much less. I would not have any sympathy for him whatsoever.
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52Raymo's Avatar
United States
8516 Posts
 Posted 07/17/2014  2:52 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list Get a Link to this Reply
Nice prices ! Spot on the quarters is currently 3.82. Wish I could find Maples for 20 bucks.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Cruisinfusion's Avatar
United States
1531 Posts
 Posted 07/17/2014  3:45 pm  Show Profile   Bookmark this reply Add Cruisinfusion to your friends list Get a Link to this Reply
SCOOP up ALL of those quarters and fast!

Spot on quarters is nearly double that!

That's good you've got an honest guy. My local pawn shop will rip you off in the blink of an eye.
Edited by Cruisinfusion
07/17/2014 3:46 pm
Valued Member
silverexile's Avatar
United States
205 Posts
 Posted 07/17/2014  4:52 pm  Show Profile   Bookmark this reply Add silverexile to your friends list Get a Link to this Reply
Thanks.. Although I am unsure it was honestly, I just don't think he knew the value..
If he had Quarters selling for $2 and next to them some Halves selling for $12 (talked down to $10)..

As I say, hoping he remembes it and will give me a break next time something comes in...
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Fuzzy317's Avatar
United States
14463 Posts
 Posted 07/17/2014  8:48 pm  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
That was very good to be honest.
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westcoin's Avatar
United States
9792 Posts
 Posted 07/17/2014  10:37 pm  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Honesty will come back to repay you in the long run. But I'd buy all you can afford to buy, as you only need to drive to the next "We Buy Gold & Silver" shop to make a quick profit, which you could then return to the coin shop and buy more coins you really want.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector.

See my want page: http://goccf.com/t/140440
Valued Member
papermoney's Avatar
United States
177 Posts
 Posted 07/19/2014  06:11 am  Show Profile   Bookmark this reply Add papermoney to your friends list Get a Link to this Reply
Good deal, and cheers to you for your honesty.
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Celticsoul's Avatar
United States
1566 Posts
 Posted 07/19/2014  11:04 am  Show Profile   Bookmark this reply Add Celticsoul to your friends list Get a Link to this Reply
Call me a jerk but I would have offered him less than was stated and tried to haggle him down. Honesty is nice but his ignorance is worth $$$.
Bedrock of the Community
United States
20753 Posts
 Posted 07/19/2014  8:43 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Honesty is sometimes OK but many times just doesn't pay. Might but what if he goes out of business? Moves away? Has someone else wait on people? Sounds pessimistic but over the years I've found similar situations just didn't pay off. I would have taken what I could now and just hope for better days later.
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coinaddict1795's Avatar
United States
301 Posts
 Posted 07/19/2014  11:31 pm  Show Profile   Bookmark this reply Add coinaddict1795 to your friends list Get a Link to this Reply
Tough crowd.... I agree that being honest and helpful with benefit you in the long run. I would however check in with him often, but buy up all you can now. Eventually something nice will come in, and he will remember his "coin guy" and hopefully keep it for you exspecting you to be the best buyer..... works for me with my connections..
Valued Member
1000_Rubles's Avatar
United States
258 Posts
 Posted 07/20/2014  12:14 am  Show Profile   Bookmark this reply Add 1000_Rubles to your friends list Get a Link to this Reply
In my opinion you did the right thing! Honesty is the best policy and being truthful will definitely benefit you in the long run. And hey, it makes your conscience feel better!
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BuffalosRock's Avatar
United States
500 Posts
 Posted 07/21/2014  2:10 pm  Show Profile   Bookmark this reply Add BuffalosRock to your friends list Get a Link to this Reply
I admire that you were "over and above" honest with him. I hope it comes back to you in kind! Unfortunately, I don't think it does that often these days.

I get sick of the stories I read here and elsewhere of people doing the opposite ( finding coins they know are worth hundreds in a $1 bin and BRAGGING about it ) - is that soooo different than just plain shoplifting really? Or taking advantage of less sophisticated collector's in deals. I wouldn't be so boastful or proud about taking advantage of other's mistakes. Many try to justify/rationalize by some convoluted logic that their hours/years of collecting just finally "paid off" and makes it justified - or that the seller MUST have paid even less. Or that they deserve it for not checking, etc. Like they are perfect and have never made a mistake in any context!

But they don't KNOW that to be true, that the seller paid less, and they are just "made up" reasons that it is okay to rip someone else off. I think ethics goes both ways and it is preferable to be honest and forthright in all dealings, period. If you get lucky and win an auction at a good bargain that is FINE - and the seller knew the score when they decided to auction it off. But to rip someone off on a pricing mistake or unintentional mistake of any kind, or just their lack of knowledge it is low and dispicable IMO! It is no different than ripping off a "slow adult" or kid or trusting elderly person. I despise that "shark" mentality! WAY TOO MANY in this hobby/business are infected with it. I see and hear sellers lying and deceiving others all the time - in person at shows and online in ads/pics/haggling.

I have found some mistakes on labeling in B&M coin shops and instead of trying to "slip by on them" I pointed out the mistakes to the owners so they could correct them and not get ripped off. The "Worm in Rounders" cheat wherever and whenever thing is not very appealing to me.
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silverexile's Avatar
United States
205 Posts
 Posted 07/21/2014  3:46 pm  Show Profile   Bookmark this reply Add silverexile to your friends list Get a Link to this Reply
Interesting comments, thanks..
Especially from Buffalo above..
Its difficult. Once I was looking through a pile of Eagles that were selling for a fair price, and saw a W proof (can't remeber date) in the pile for the same price.. and nabbed it.

Another time, different shop but the same situation I pointed it out to the person.
I think it depends on how much I liked the shop/owner..

In this case with the quarters, I just felt I couldn't give 1/2 the price....
I may go back tomorrow and check his stock again, see if he gives me a sweet deal.. Likely not
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