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 Replies: 31 / Views: 4,575 |
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Valued Member
United States
379 Posts |
Hello all
I bought a rather expensive coin from a well-known and large coin company that was about $12,500. I did receive it, but in another package from this same company, at the same time, was a somewhat similar coin in that it was a isle of man 5 oz gold coin at the same price. I had never ordered or paid for it. There was no paperwork in the box... just the coin and an advertisement from the company.
After wrestling with my moral values a little, I decided to do the right thing and wrote to them, thanked them for the coin I did order and paid for, and told them I had also received the above described coin that I never ordered or paid for.
The very nice reply from the company thanked me for my honesty and gave me a shipping label to use to return the coin. They had no idea of how it happened. I do not think they would have caught the error on their own, at least not right away, if I had not brought the matter to their attention, however, the unauthorized coin did have a tracking number and was signed for on my end. I had been expecting one coin and another coin I had ordered so nothing seemed out of the ordinary until I opened the package and went "whoa"!
I have been told I was a idiot for reporting it, etc. And believe you me, it did cross my mind but not for very long. I figured my honor was worth more than the coin, plus never knowing if they would or would not ever caught the error eventually and hold me responsible was a factor... and in addition, to keep it would have been a crime and I have always been a law abiding citizen, altho there are times...
I wonder if anybody else here had experienced such a thing? That is the real topic here.
btw, I asked about what it would have cost to buy it, since I was cancelling my overseas vacation (last one I took was 8 years ago) due to the virus and severe lockdowns in the country I was to visit, I was given the usual and high retail price. I was thinking gee, they could have knocked a little off for me being honest, but I also realize they got a business to run, besides, there should be no reward for merely being honest or doing the right thing... it should be part of our our lives. But I cannot afford it.
But I am sure there would have been a few who would have said nothing. Most people has their price or limit on how far to take things. Now, if the coin had been worth a million dollars, I don't think I would have said anything... just take the chance on getting caught, maybe I would be lucky and dead at the time if or when that happened haha.
mike
p.s. I am somewhat of a "higher end" collector but I am not rich or live the life of one who is. I live in a cheap 1989 motorhome which has not moved since I bought it 6 years ago and live between a homeless level and a low income person. But I have few bills and just save my money for months and months on end until I find a coin I want. It is just that I do not trust cash, and would rather buy coins which I know will always be worth something. Also, I am not the kind of person who would pay a quarter of a million dollars for a very scarce and valuable penny, altho I do believe that people should be able to spend their own money as they see fit, so I am not knocking it.
I'm telling ya folks, the devil was at my door on this one... also, I am done with collecting now after about 15 years of it and am thinking of putting the whole collection up for sale, as in one buy the whole thing or none of it. but with my luck, the day after I sold it, gold would zoom up 10 times what it had been selling before.
I went thru this when I sold my rhodium for very low compared to what it went to about a day later and it climbed to incredible amounts, about a 1,000 percent. it would have been "only" about a 100k profit (pounds head against wall), ok, so I am not the luckiest person around... maybe I am being punished for some past big sin or something.... so at this point, I am STILL waiting for that $10,000-20,000 an ounce gold you sometimes hear about from the crazies (or are they?) for the last 10 years or so, but I am pretty sure I will be dead for years before that happens, if it ever does
Maybe I should sell the collection, and put the whole proceeds on the roulette wheel in one spin, and if I win, to let it ride! That would be the smart play, right?
And I sure do not want to be around when or if it plunges down to $600 or lower an ounce again.
best to all during the holidays and Merry Christmas... sorry for the long post, I do have a tendancy to go on and on. I like to write. Maybe I will try to sell my collection on this site and see what youse guys think...?
Mike
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Valued Member
United States
408 Posts |
No doubt, you made the right call by returning the coin. Sleep well tonight.
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Bedrock of the Community
Australia
21786 Posts |
I have the thought that sooner or later, the Law in one form or another, may have caught with you.
That idea, at least in my mind, would have kept me honest.
Respect the honesty of another, and don't take advantage of it.
Sadly, there is a large minority of people that, in your circumstance, would have kept the expensive coin and just shut up.
I hate those sort of people.
Back to the above situation: Sooner or later, I would have hated myself as well, if I had kept it.
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Parallels can be found in personal, as well as business relationship situations. Expensive and stressful litigation is often the result.
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Pillar of the Community
4628 Posts |
You did the right thing and should have no remorse in doing so.
Rather than accept heroical accolades and feel like you made the wrong decision - you did what you were supposed to do. Had they had a phone number or email, I would have contacted them instantly - anything else is dishonest and a one way ticket to the underworld.
A 5 oz gold coin is worth around US $9500, keeping it is larceny - if it helps Isle of Man means likely a wallpaper NCLT coin and thus no value above metal.
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Pillar of the Community
 United States
5770 Posts |
I commend you for your honesty. You did the right thing. That is what counts.
Words of encouragement are one of the major food groups.
We need to consume them regularly to thrive and grow.
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Pillar of the Community
United States
5825 Posts |
Holy smoke Dr. Jones!
That's some mistake someone made, and you would have ride out like a bandit.
Good karma would eventually follow up to your deed, and as tampabaygrampa said, sleep well!
Edited by macmercury
12/18/2020 10:10 pm
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Pillar of the Community
Australia
1333 Posts |
Nah keep your collection if brings you enjoyment that is worth more than price you paid for the them.
Definitely right thing to do, but I can tell you from experience (not coins tho, something else but close to price range) sometimes you think about it hahaha, if you don't need it desperately return it especially if you know someone gonna miss it.
Thing is a lot of business where supposed to give refunds to their customer due to COVID-19 cancellations but because of their own situation with cash-flow have either been very slow or unable to do so very likely bankrupt sadly.
It almost silly sometimes what companies deliver to the wrong places.
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Pillar of the Community
United States
7617 Posts |
You did the right thing. Sleep well!
As far as 10000$/ounce gold goes? The "gloomer and doomers" will eventually be right! It just might be 2 to 200 years in the future before it happens!
Just enjoy your life, your coins, your friends and any family you are close to!
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Pillar of the Community
United States
3281 Posts |
You certainly did the right thing.
Honesty and honor are very important.
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Pillar of the Community
United States
1494 Posts |
Definitely agree you did the right thing.  |
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Pillar of the Community
United States
1694 Posts |
agree you did the right thing , good job and you will rest good knowing you did.
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Valued Member
United States
191 Posts |
Mike - Another strong vote that you did the right thing.
Merry Christmas to all and happiness in the new year.
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Pillar of the Community
United States
7617 Posts |
As far as how the shipping "mistake" occurred my guess would be a couple of "dirty" employees have discovered "holes" in the dealers inventory, packaging and shipping procedures and have exploited them.
My best guess is that the extra package should have been snagged out of the shipment between the dealers office and the post office by the employee that makes the post office run. They either forgot to pull it, got spooked or someone else ended up making the trip.
Crooks can be very creative.....especially during the Holiday season when guards are relaxed or down.
Bottom line is YOU did the right thing!
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Valued Member
 United States
379 Posts |
thanks guys. the angels usually sell for little more than spot, even the 5 oz ones. I am returning this one, a $4,000 premium on a $9,000 5 oz coin is not worth it. I saw a guy on ebay recently try to sell his ungraded 5 oz. one for $9,000 when the spot price was slightly lower than now. no takers. yep, it would have kept me awake... waiting for that knock on the door, that questioning email from the dealer, whatever. it's just not worth it. Besides, I got a kid who knows about the situation and keeping it would have done him no good, and here I am always telling him to do the right thing. again, thanks guys.... p.s. I have won and lost fortunes before, and you know what? having a lot of money, living on a $250,000 boat in Texas watching the bikinis stroll by... I am just as happy in my "downgraded" situation now than when I had it all. But I do miss the bikinis haha |
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Pillar of the Community
Canada
5394 Posts |
Not only did you do the right thing , you did the only thing! Remember Karma bites both ways! I am a dealer and once ordered some coins through another Prominent dealer . I got the package opened it and there was a PCGS MS65 1927S Standing Liberty quarter in there , definitely not mine! I phoned immediately and returned the item via Priority Mail . Not even a thank you , let alone paying me for the postage ! At least I slept well ! |
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Bedrock of the Community
Australia
21786 Posts |
"Money can't by me love" - Beatles
Satisfaction within the soul much more important.
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Replies: 31 / Views: 4,575 |
Posted 12/18/2020 8:47 pm
