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 Replies: 14 / Views: 1,381 |
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Pillar of the Community
United States
3294 Posts |
I gave a friend of mine a few restored Buffalo nickels in trade and he has placed them for sale on craigslist. While he is charging what is a pretty fair price in my view for a restored, (20-25% G-4 price), nothing over $1, he does not specifically mention that they are restored. Do you guys feel that this is dishonest? |
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Valued Member
United States
323 Posts |
I was wondering the same thing myself, because I have been looking to sell some of mine too and don't know if I should mention it or not. This will be an interesting topic! I myself am undecided but we'll have to see what some other people say!
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Pillar of the Community
United States
532 Posts |
JMO but a restored date is a damaged coin.
To fill a hole it works, but I would think it should be noted that the coins have been altered.
When talking about over-dates and keys I think it would definitely fall into category of being considered mandatory in the description.
You stated he is selling for such low prices I doubt it will ruffle any feathers. Expectations on coins in that pricerange are generally understood not to be showpieces but it is always good to be direct about a coin if it has ANY issues no matter how large or small.
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Pillar of the Community
United States
2602 Posts |
I think seller is obligated to disclose any known faults with anything they sell, coins, cars whatever.
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Pillar of the Community
United States
1116 Posts |
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Pillar of the Community
United States
8904 Posts |
mycrob wrote: Quote:
I think seller is obligated to disclose any known faults with anything they sell, coins, cars whatever.  Not everyone agrees with me (see ebay...), but it is basic to my approach to life. If I expect (or at least hope) others to be honest with me, I have to be that way. So there!  Lecture over! Class dismissed!  |
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Valued Member
United States
408 Posts |
No doubt, any restored date coin should be described as such.
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Valued Member
United States
436 Posts |
Yes, I do feel it is dishonest to not say they are restored, but not as honest as selling something a friend gave him!  |
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Bedrock of the Community
United States
10284 Posts |
I restored a roll, about 30 out of 40 brought out dates and mint marks.
I would never even try to pass one off any other way, than to disclose how I did it, and what they are.
I don't think the value is anywhere as good as G4 unless it is a super looking coin once it is finished and if it appears to have a full horn and lots of detail and a semi key or key date.
Maybe it would deserve the price value of a G4 coin if at first glance appeared to be CH VF.
I say they are altered and worth far less than an original barely readable date.
I don't put much value on them at all. I think I have 3 nicer looking important dates that I have kept yet.
I am sure I'll let them go as "restored" as well someday.
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Pillar of the Community
United States
2541 Posts |
I think the seller should disclose this, but as always, Caveat Emptor.
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Valued Member
United States
323 Posts |
I tried an experiment at my coin club tonigh and here are the results. I put 4 up for auction with restored dates and didn't mention it in the description and the auctioneer called me out like I broke the law. I quote "just for your information, these coins have been acid dipped and are nickels with restored dates. Sorry for the person that was trying to rip fellow collectors off but this is my auction and I deserve the right to share any info I feel needs to be shared" so I guess it is wrong LOL
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Pillar of the Community
United States
2520 Posts |
I agree that all should be disclosed. Be it a restored date, cleaned coin or whatever...seller needs to be honest about the facts.
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Pillar of the Community
Spain
1361 Posts |
honesty is the best policy
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Pillar of the Community
 United States
3294 Posts |
Ok, I talked with him. First I have no problem with him selling the coins since they were not a gift, but a trade, so he can do whatever he wants. He has also mentioned that he is open with people who ask about the nickels, he only wanted to generate more interest. Not sure I agree with that it is right but so long as people know they are restored before they buy, I guess I don't have too much of a problem with it. I think a lot of the extra interest he gets by omitting that info in the listing is going to just turn tail when they find out, so I really don't see it helping.
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Pillar of the Community
United States
532 Posts |
You could smack a teen over-date with a sledgehammer and then light it on fire and put it out with an icepick. Someone will buy it. Someone will cherish it in a collection if paired with the right person.
Price and honesty in description is elemental in suiting the coin with the buyer.
The hobby is full of different interests and different budgets. If he is pricing them as low as you say, I don't think it will matter what has been done to the coins. No one is going to object since it is such a small fraction of pricing against the alternatives.
I remember my sets were little more than culls and slicks but I paid prices accordingly. You practically had to stand on one foot with head tilted just right. Close one eye and hold your breath....THERE SEE THE D!! SEE THE D!
Your concern is noble but I wouldn't worry too much about it.
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Replies: 14 / Views: 1,381 |
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Posted 08/12/2009 11:40 am
