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 Replies: 19 / Views: 2,427 |
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Bedrock of the Community
United States
20753 Posts |
At one of the many coin shows I go to today I was sitting at a dealers table looking through some coins in his display cases. An elderly person walked up and put a Whitman type Red cardboard box with two rolls of 2x2's. All were in order by date and mint mark. All were Mercury dimes. I heard the person say here is the rest of the ones I told you about. You did say 3 times face value now right? The dealer said no problem and a little more just for you. Approximately over 100 of them. Naturally I didn't say anything. After he left the dealer let me look through them and with the exception of the 16D, all were there and in at least Fine grades. The dealer told me the same guy sold him a bag of them at the last show for the same price. That is $0.30 each. AHHHHHH Why not meeeeeeeeeeeee? |
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Moderator
 United States
187582 Posts |
I think he owes you something for keeping quiet!  |
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Pillar of the Community
United States
1424 Posts |
That dealer sounds like a crook to me. I'm glad I wasn't sitting there.
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Pillar of the Community
United States
1031 Posts |
Wow just carl! I hope the dealer gave you some great deals on any purchases you make. I've looked at some of the shows you talk about since you're in the same area I'm in but haven't made any yet. Mabey I'll see you at one sometime.
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Valued Member
United States
374 Posts |
Dealers that will take advantage of a senile old man. Need for tyrone and his boy's to grab him in the parking lot. If your gonna cheat the old man at least give him the going rate for bullion. I belive 10 to 12 times face. Karma is a  and he will get his in the end. |
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Valued Member
United States
111 Posts |
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.
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Pillar of the Community
United States
1031 Posts |
In the last 2 years My grandparents have both passed away. They inherited and accumulated about (well lets say) a bunch of silver. All of my aunts and uncles got together and went through everything (with my help on the coins). I documented and gave them the price in melt value on everything since there was too much to go through. I offered to buy it at the market price but they weren't interested. They wanted to know why anyone would pay so much for it. They took some of the silver coins and shook them in the jar and just looked at me. Shivers run up my spine just thinking about it. They wouldn't even talk about selling them. I hope they didn't cash them in thinking it was a bunch of BS like they acted. The silver price was 8.50 an ounce then. Time to find out. I just hope just carl's story wasn't the same as what I went through. |
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Valued Member
United States
243 Posts |
Last week I gave 2.75 for a 1916 S .
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Bedrock of the Community
 United States
20753 Posts |
I've purchased from that dealer many times in the past. His prices are OK but then he usually gives me a big discount which only makes the purchase price about normal to a little less. He mentioned to me that he will probably make thousands on those two deals of Mercury dimes. In the past he has given me many, many Dansco and Whitman Albums free. It's really a shame that the elderly man was so badly cheated but then it really is none of my buisness. Many elderly people have stashes of old coins but no one to tell them what they are worth, how to sell them, who to and who not to sell them to, etc. Who knows if I stuck my Two Cents in the word may spread and every dealer at these shows would not deal with me at all. You never know when in an area where the coin shows are so repeditive with basically the same dealers. I've seen things like this before and it really hurts since I feel someday whoever gets my coins could be doing the same. |
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Bedrock of the Community
United States
20753 Posts |
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.
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Pillar of the Community
United States
882 Posts |
If I was standing at that table, and the transaction wasn't final, I would of taken that 1916 D, slapped the old man in the face with it, and ask, "hows it feel throwing $5,000 away?"
If it was in F, that is.
I wouldn't care if every dealer in my whole state would never sell to me again, I would never let someone be cheated like such. Wheather it be the old mans fault or the dealer.
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New Member
United States
34 Posts |
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.
Edited by paland
01/21/2008 01:55 am
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Pillar of the Community
United States
1934 Posts |
you said, "That is $0.30 each. AHHHHHH Why not meeeeeeeeeeeee?"
I say be grateful you're not that dishonest.
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Pillar of the Community
Australia
1014 Posts |
What if the old man was actually a professional trickster?  And all the Mercs were fake...  That'll be a revelation...   |
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Bedrock of the Community
United States
20753 Posts |
What if the old man was actually a professional trickster? And all the Mercs were fake... That'll be a revelation... Now in reality that would have been great. However, as I looked throgh the box there were way to many of the more comon ones for anyone to fake for a profit. Many of the later dates were in at least AU to some MS grades for sure. Not even sure what I would have said it that guy would have turned to me and said you can have all these for $0.04 each. OH well, just dreaming. I'll probably always wonder how many complete sets of Mercury dimes there would have been between the first bag and the box. |
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Pillar of the Community
United States
560 Posts |
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. |
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Replies: 19 / Views: 2,427 |
Posted 01/20/2008 9:05 pm
