Ethics

[Basil]

......you handled it well trout but there are plenty of no win situations in these cases in my experiences over the years.My major hurdles are people thru word of mouth & friends that give you a pile of old coins,usually Pennies & Halves,with a "just give me what you think they are worth" spiel.9x out of 10 they are worthless coins and when you give them $20 for a couple of $ worth of rubbish they spend the rest of their lives big noting about how they were ripped off with the sale of their old coins. Its happened to me several times over the years so now i just tell them to list on Ebay as that will return more than i can pay,it works every time as the $ signs start spinning in their eyes.

[robbiegal]

agree with PP and Basil

see the goods first hand

I once witnessed a woman having a stand-up argument in Edlins in town here as she had a well worn 1927 PH florin in her hand at the front counter and insisted it was worth at least $50,000 - she stormed out of the shop accusing the staff of trying to cheat her

though, often true rarities do have a local reputation
but it is hard if a person is broke and they need the $$ to put food on the table - I think that is 50% of why we have coin dealer businesses
as the dealer takes the risks but yes, a lot of dealers would offer $300 or far less for that variety especially if it bundled in a lot sale

with respect to the sale, you are assuming a sale of $2,000 minimum after sending to be slabbed and then putting through the auction, then selling , then respective commission taken and if the coin doesn't sell etc and you have made that call without having seen the actual coin

[Basil]

I once witnessed a woman having a stand-up argument in Edlins in town here as she had a well worn 1927 PH florin in her hand at the front counter and insisted it was worth at least $50,000 - she stormed out of the shop accusing the staff of trying to cheat her

Yeah,seen the same scenario many times over the years.One incident that springs to mind was when i was having a chat to the local Coin dealer in his shop.A woman walks in all excited and says " ï bet you haven't seen one of these before".She unwraps an old Sovereign from a felt rag and gives it to the dealer,he has a quick look and asks what she wants for it,she says "it belonged to my Grandfather and its worth several thousand i'm told." He then said $200,its only worth the Gold content,she was stunned for a few seconds then let go a tirade of abuse,i was surprised that  Miss Prim & Proper knew so many swear words.
Anyway the Dealer wasn't worried,he said it happens all the time,people can't comprehend a 100 year old Gold coin isn't worth thousands.He then said have a look at this,he took me to the safe and showed me a Bank Bag half full of Sovereigns,he joked about not having seen one before.He was just waiting for the Gold price to rise before selling.

[autocoupler]

Honesty is the best policy. But is there a difference between someone you know and someone you don't? I'd bet most shop front dealers would pay minimum.

How do we view the other scenario where a rare coin is spotted on the internet and it's obvious the seller is unaware of it's value. Do we apply the same honesty principle, or get it as cheaply as we can? I must admit to acquiring a 1931 dropped 1 indian obv. penny in this way, but personally don't have a problem with it.:yahoo: :dodgy:

[keldaw]

all good advice folks , well done ,
but knowing trout as much as I do ,
I believe he has made a commitment , and he will honour his part of the deal , providing the coin is good enough to send over for slabbing , and he will know that as soon as he sees the coin .
 there was a movie made long ago about a honest man ,
it was a movie called GENTLEMAN JIM , and I think it was a movie they made knowing that one day they would find this guy in the flesh ..

 good on ya Jim ,   [ YOUR A CHAMPION ]     well done .

[robbiegal]

Gentleman Jim was my great great uncle Kel (in real life)
maybe even grat great great??? he was my grandmothers' uncle anyways

[ausjack]

https://www.youtube.com/watch?v=OOuWWzP7wl0 :laugh2: sorry I really couldn't help it..I was going to say something else but I wanna be good :blush2: