Coin Dealer - Proper Business Dealing?

No idea about the legal ramifications but I feel the seller of the coin is in the clear. You said the seller went in and said up front he had no clue about the coins. The dealer took a risk and lost. The offer seemed fairly low for that key date coin so It appears the dealer wanted an easy profit at the sellers expense. I highly doubt if the coin came back a high grade worth $10,000+ the dealer would call the seller and pay him more money for the coin. The dealer is the professional who made the offer and lost. I vote the seller should keep the money with a clean consience.

A member of the public has no obligation to reverse a deal. Since I deal myself and get discounts from dealers for being a dealer, I would feel obligated to reverse any deal involving a non-legit or altered coin. A person just walking into a coin shop has no obligation of professional courtesy.

This dealer needs to take their lumps and move on.

I have no problem with them playing the game as long as they are willing to accept their losses just as they celebrate their victories.

Does he have a legal obligation to reverse the sale? Probably not. The seller knows little or nothing about the coin and is depending on the dealers opinion, which would be considered a professional opinion since he presents himself that way. The seller did not misrepresent and the dealer based his offer on his professional opinion.

Is the dealer proper in asking for his money back? Well he isn't really asking for it back. He made an appeal to the sellers sense of ethics, but left the decision in the sellers hands. "hoping Person A do the right thing and return the $2200." That is not a demand or even a request for the money back. I don't see it as being improper. Specifically requesting or demanding a refund, yes that would be improper.

Is the seller required to pay the dealer back? Required to? No. Does his sense of ethics make him think he should? That is only something the seller can decide for himself.

As for the discussion about whether the dealer was hoping to rip off the seller, all such speculation is groundless. We haven't seen the coin and we really don't know what kind of condition it was in. There was no condition mentioned in the original posting. Later there was a comment that it may have been XF but this is an opinion from someone who admittedly knows little about coins. He may be right, he may be way off, the coin may have been cleaned, we don't KNOW. We have all seen people come online that don't know coins claiming they have something in great condition that turns out to be a VG. So any claims as to condition should be ignored. And if you do that then you can't make claims that the dealer was trying to rip him off.

I'm a dealer.

The first thing is that we make our money on seller ignorance. If someone comes in and says they have a group of Morgans to sell, I tell them that my buy price is $12 each and 9 times face on all 90 percent silver, 3 cents a peice for LWC, ect.

Now if someone ask me what something is WORTH, I give them an honest answer.

IF someone comes in with a folder and they clearly have something very valuable I will adjust, but will still lowball to start. MOST dealers I know will still offer 3 cents a peice for a folder of LWC; even if the 09svdb and 14d are there.

I have seen dealers buy a COMPLETE whitman Morgan folder(s) at their "per piece" price.

Having said that if someone comes in with a Key and have done their due dilegence then we can dance. But it is incombent ON ME to know what I am buying. IF I think there is a problem I buy it at a problem price. If it looks good and all the characteristics for that issue are there then we can go upwards. The bottom line is that unless the seller is an actual conman; I as the professional need to take me losses and move on.