Can I get a lil ethics here?

An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's mostly
all junk silver and pays the woman just over melt value. Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars. *Ooops* But the customer is gone and this particular dealer
was lax, unethical and never got her name or anything--because it all
looked like a pile of **** anyways. The customer was relying on the
dealers expertise to find any rare coins and tell her so if she had
any. Instead, this particular dealer was incompetant and made up a lot
of excuses--was too busy or it was just way too many coins to sort
thru--or a flood happened. Or maybe it just doesn't pay to sort thru
all that junk? Whatever--that's your job as a coin dealer to sort
through the junk BEFORE buying at near melt.
Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

bri wrote:
An old

not germane to the issue

widow

not germane to the issue

walks into a coin dealer with a large amount of raw
coins--she drops them off

and then leaves?

so the dealer can go thru them and come up
with a price. The dealer does a quick once-over

if the "old widow" left, who can verify how much time he spent with the
coins?

, sees that it's mostly
all junk silver and pays the woman just over melt value.

so far, nothing criminal or unethical that I can see; she was lucky to get
above melt

Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars

let's assume five thousand dollars for the rare coin and one million dollars
that the dealer paid the lady for her coins; thus he paid $1,000,000 for a
deal really worth $1,005,000, a shortfall of one-half of one percent; since
you did not specifiy, my hypothesis is just as valid as yours

. *Ooops* But the customer is gone and this particular dealer
was lax, unethical

not backed up by evidence

and never got her name or anything--because it all
looked like a pile of ****

nice mouth

anyways. The customer was relying on the
dealers expertise to find any rare coins and tell her so if she had
any

did she say that, or did you just make it up?

. Instead, this particular dealer was incompetant

how do you know this?

and made up a lot
of excuses

to whom? you?

--was too busy

that is often the case - feast or famine a lot of times in a coin
storefront, especially when there's a line of people cashing in their junk
silver - remember 1980?

or it was just way too many coins to sort
thru

you yourself said it was a "large amount"

--or a flood happened

you're leading the witness with an obvious red herring here

. Or maybe it just doesn't pay to sort thru
all that junk?

generally it does not, especially if one is pressed for time; one must
consider the probability of finding a rare coin to be quite low in a lot
such as you described

Whatever--that's your job as a coin dealer to sort
through the junk BEFORE buying at near melt.

the dealer clearly did what you said was the woman's wish - to "go through
the coins and come up with a price."

Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least

the law varies from state to state on this; contact your congressperson for
redress of your grievance

--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer

there was an article about an incident like this in the coin press recently,
but only one that I know of; it's not something we hear about over and over

for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

It's your prerogative to deal with the bug however you will. It's not my
intent to be snarky or sarcastic, but you came on here, shooting at
everything that moves, with a hypothetical story completely devoid of names
and details.

James

"bri" wrote in message
...
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's mostly
all junk silver and pays the woman just over melt value. Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars. *Ooops* But the customer is gone and this particular dealer
was lax, unethical and never got her name or anything--because it all
looked like a pile of **** anyways. The customer was relying on the
dealers expertise to find any rare coins and tell her so if she had
any. Instead, this particular dealer was incompetant and made up a lot
of excuses--was too busy or it was just way too many coins to sort
thru--or a flood happened. Or maybe it just doesn't pay to sort thru
all that junk? Whatever--that's your job as a coin dealer to sort
through the junk BEFORE buying at near melt.
Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

If you're really that tired of reading about those coin dealers finding rare
coins among junk silver, I'm sure you don't need a doctor's prescription to
wean yourself off those kind of articles. And I'm curious where you're
reading about so many of these cases that you've become tired from it.

Do you feel the same way about those gold-buyer TV commercials where a happy
customer threw his unwanted old gold in an envelope and got a check for $300
back in the mail? Got himself a pair of concert tickets and some new
threads, just like he did after turning over his car title to that store in
the strip mall for some "instant cash". Meanwhile, the gold buyer notes
that the seller's gold watch is a scarce brand and that one of the necklaces
is an heirloom piece. So, everybody seems to be happy-- except you.

"bri" wrote in message
...
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's mostly
all junk silver and pays the woman just over melt value. Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars.

This story sounds familiar.....

John

On Jul 12, 4:36*am, bri wrote:
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's mostly
all junk silver and pays the woman just over melt value. Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars. *Ooops* But the customer is gone and this particular dealer
was lax, unethical and never got her name or anything--because it all
looked like a pile of **** anyways. The customer was relying on the
dealers expertise to find any rare coins and tell her so if she had
any. Instead, this particular dealer was incompetant and made up a lot
of excuses--was too busy or it was just way too many coins to sort
thru--or a flood happened. Or maybe it just doesn't pay to sort thru
all that junk? Whatever--that's your job as a coin dealer to sort
through the junk BEFORE buying at near melt.
Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

Some ammoral highly random thoughts for a fairly silly dubious OP:

The goal of the dealer is to get the "deal" "bought". Unless he can
get the deals "bought" that walk in his shop, he'll have to go back to
his G-D former day job and as a major misfit, that thought has NO
appeal to him. If he can't get the deal "bought" there is not even a
possibility of any profit.

IMHO, the dealer has to size up the seller and proceed from there.

Lots of "old widows" just hated and hated and hated their late
husband's fricking coin collection and when they walk into the coin
shop with the thing, they actually want a really really bad price,
just to show old Harry one more time what a fricking moron he really
was in this life. So this is one possibility the dealer faces.

Lots of people can't handle a "fair" price. Offer then $12 for their
1893-S Morgan, and they will sell it to the dealer instantly. Offer
them $800 and they'll immediately walk out of your shop and attempt to
get a second opinion elsewhere. "Fair" prices pecker more deals than
you might think because people are goofy. "Fair" offers make people
more suspcious than anything else (really and truly). This is another
possibility that the dealer faces.

The dealer is also challenged by exactly what the seller asks when
presenting the coins over the counter. If the potential seller asks
"What is this worth?" or if the seller asks "What will you pay for
this?" - Gee, those are two very different questions.

Or a potential coin seller might ask "Will you pay $600 for this group
of coins?" If the group includes an 1854 Philadelphia two and one-
half dollar gold coin in immaculate proof-state, is the dealer remiss
to simply say "Yes, I suppose that I will pay you $600."???

If the old widow says that she's not eating regularly and Mister, can
you really really help her out, well that is something else
altogether. IMHO, one needs to and is morally obliged help; but first
the dealer might want to have his assistant walk around the corner and
make sure that the widow hasn't parked her Cadillac or Lexus on the
next block before limping into the shop.

The dealer has to size up the seller, and kinda find out what is
motivating the seller. But first and foremost, the dealer's job is to
get the "deal" bought. Parceling out the coins later to make a profit
is another separate step.

As in "Mission Impossible", if this post's mission (to kill time)
fails, I disavow any knowledge of this post.

Secretary Oly

"bri" wrote in message
...
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's mostly
all junk silver and pays the woman just over melt value. Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars. *Ooops* But the customer is gone and this particular dealer
was lax, unethical and never got her name or anything--because it all
looked like a pile of **** anyways. The customer was relying on the
dealers expertise to find any rare coins and tell her so if she had
any. Instead, this particular dealer was incompetant and made up a lot
of excuses--was too busy or it was just way too many coins to sort
thru--or a flood happened. Or maybe it just doesn't pay to sort thru
all that junk? Whatever--that's your job as a coin dealer to sort
through the junk BEFORE buying at near melt.
Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

Grow up!
In this world it's every man (or woman) for himself/herself.
Dog eat dog and all that.
Wake up and smell the coffee!

"oly" wrote in message
...
On Jul 12, 4:36 am, bri wrote:
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's mostly
all junk silver and pays the woman just over melt value. Later on, the
dealer goes back and finds a coin in that pile worth thousands of
dollars. *Ooops* But the customer is gone and this particular dealer
was lax, unethical and never got her name or anything--because it all
looked like a pile of **** anyways. The customer was relying on the
dealers expertise to find any rare coins and tell her so if she had
any. Instead, this particular dealer was incompetant and made up a lot
of excuses--was too busy or it was just way too many coins to sort
thru--or a flood happened. Or maybe it just doesn't pay to sort thru
all that junk? Whatever--that's your job as a coin dealer to sort
through the junk BEFORE buying at near melt.
Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

Some ammoral highly random thoughts for a fairly silly dubious OP:

The goal of the dealer is to get the "deal" "bought". Unless he can
get the deals "bought" that walk in his shop, he'll have to go back to
his G-D former day job and as a major misfit, that thought has NO
appeal to him. If he can't get the deal "bought" there is not even a
possibility of any profit.

IMHO, the dealer has to size up the seller and proceed from there.

Lots of "old widows" just hated and hated and hated their late
husband's fricking coin collection and when they walk into the coin
shop with the thing, they actually want a really really bad price,
just to show old Harry one more time what a fricking moron he really
was in this life. So this is one possibility the dealer faces.

Lots of people can't handle a "fair" price. Offer then $12 for their
1893-S Morgan, and they will sell it to the dealer instantly. Offer
them $800 and they'll immediately walk out of your shop and attempt to
get a second opinion elsewhere. "Fair" prices pecker more deals than
you might think because people are goofy. "Fair" offers make people
more suspcious than anything else (really and truly). This is another
possibility that the dealer faces.

_______

Interesting observation on human nature, and likely true more often than
not.

oly wrote:
On Jul 12, 4:36 am, bri wrote:
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's
mostly all junk silver and pays the woman just over melt value.
Later on, the dealer goes back and finds a coin in that pile worth
thousands of dollars. *Ooops* But the customer is gone and this
particular dealer was lax, unethical and never got her name or
anything--because it all looked like a pile of **** anyways. The
customer was relying on the dealers expertise to find any rare coins
and tell her so if she had any. Instead, this particular dealer was
incompetant and made up a lot of excuses--was too busy or it was
just way too many coins to sort thru--or a flood happened. Or maybe
it just doesn't pay to sort thru all that junk? Whatever--that's
your job as a coin dealer to sort through the junk BEFORE buying at
near melt.
Doesn't matter if it's 10 coins or 25,000. And to begin with, it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

Some ammoral highly random thoughts for a fairly silly dubious OP:

The goal of the dealer is to get the "deal" "bought". Unless he can
get the deals "bought" that walk in his shop, he'll have to go back to
his G-D former day job and as a major misfit, that thought has NO
appeal to him. If he can't get the deal "bought" there is not even a
possibility of any profit.

IMHO, the dealer has to size up the seller and proceed from there.

Lots of "old widows" just hated and hated and hated their late
husband's fricking coin collection and when they walk into the coin
shop with the thing, they actually want a really really bad price,
just to show old Harry one more time what a fricking moron he really
was in this life. So this is one possibility the dealer faces.

Lots of people can't handle a "fair" price. Offer then $12 for their
1893-S Morgan, and they will sell it to the dealer instantly. Offer
them $800 and they'll immediately walk out of your shop and attempt to
get a second opinion elsewhere. "Fair" prices pecker more deals than
you might think because people are goofy. "Fair" offers make people
more suspcious than anything else (really and truly). This is another
possibility that the dealer faces.

The dealer is also challenged by exactly what the seller asks when
presenting the coins over the counter. If the potential seller asks
"What is this worth?" or if the seller asks "What will you pay for
this?" - Gee, those are two very different questions.

Or a potential coin seller might ask "Will you pay $600 for this group
of coins?" If the group includes an 1854 Philadelphia two and one-
half dollar gold coin in immaculate proof-state, is the dealer remiss
to simply say "Yes, I suppose that I will pay you $600."???

If the old widow says that she's not eating regularly and Mister, can
you really really help her out, well that is something else
altogether. IMHO, one needs to and is morally obliged help; but first
the dealer might want to have his assistant walk around the corner and
make sure that the widow hasn't parked her Cadillac or Lexus on the
next block before limping into the shop.

The dealer has to size up the seller, and kinda find out what is
motivating the seller. But first and foremost, the dealer's job is to
get the "deal" bought. Parceling out the coins later to make a profit
is another separate step.

As in "Mission Impossible", if this post's mission (to kill time)
fails, I disavow any knowledge of this post.

Secretary Oly

Mr. Secretary, that is the first time I have seen the word "pecker" used as
a verb. Gotta remember that one!

James the Bisyllabic

John Carney wrote:
"bri" wrote in message
...
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's
mostly all junk silver and pays the woman just over melt value.
Later on, the dealer goes back and finds a coin in that pile worth
thousands of dollars.

This story sounds familiar.....

That's because it fits perfectly into the category "urban legend."

James

Bruce Remick wrote:
"bri" wrote in message
...
An old widow walks into a coin dealer with a large amount of raw
coins--she drops them off so the dealer can go thru them and come up
with a price. The dealer does a quick once-over, sees that it's
mostly all junk silver and pays the woman just over melt value.
Later on, the dealer goes back and finds a coin in that pile worth
thousands of dollars. *Ooops* But the customer is gone and this
particular dealer was lax, unethical and never got her name or
anything--because it all looked like a pile of **** anyways. The
customer was relying on the dealers expertise to find any rare coins
and tell her so if she had any. Instead, this particular dealer was
incompetant and made up a lot of excuses--was too busy or it was
just way too many coins to sort thru--or a flood happened. Or maybe
it just doesn't pay to sort thru all that junk? Whatever--that's
your job as a coin dealer to sort through the junk BEFORE buying at
near melt. Doesn't matter if it's 10 coins or 25,000. And to begin with,
it
should be up to the coin dealer to be asking for a phone number at
least--if the customer won't give it? Then don't buy.
I'm tired of reading about coin dealers *finding* rare coins after
they buy them for melt value and then blaming the customer for
trusting that they'd pay them for what they have. That's my bug up my
butt for today--tyvm.

If you're really that tired of reading about those coin dealers
finding rare coins among junk silver, I'm sure you don't need a
doctor's prescription to wean yourself off those kind of articles. And I'm
curious where you're reading about so many of these cases
that you've become tired from it.
Do you feel the same way about those gold-buyer TV commercials where
a happy customer threw his unwanted old gold in an envelope and got a
check for $300 back in the mail? Got himself a pair of concert
tickets and some new threads, just like he did after turning over his
car title to that store in the strip mall for some "instant cash".
Meanwhile, the gold buyer notes that the seller's gold watch is a
scarce brand and that one of the necklaces is an heirloom piece. So,
everybody seems to be happy-- except you.

And we make heroes of the guys who bought Manhattan Island for, what was
it - $24 worth of "stuff"?

James the Frontier Trader