Ethical question???????

[RobertB]

Today I go to a local coin show and I'm looking thru a book of Jeffersons and I spot a 1939-S in a 2x2 graded as BU and marked for 2 bucks ? Now I know this is at least a 20-25 dollar coin, probably higher as I suspect it to be at least MS 65, probably 66, non-FS unfortunately. What would you do? Would you show the coin and try to get it for 2.00 and not say anything or would you say hey, this is priced wrong?

 

I layed it down, said, "two bucks right?", she said yes, I paid and walked away with a great big grin.

 

I know this isn't much money, but what do you think?

 

Am I a 'cherrypicker' or an unethical collector ?

[Wihlborg]

Fair ball Robert. The coin was marked $2. You asked if the price was $2. You were told the price was correct. It's not up to you to tell someone how much to ask for a coin.

 

Congrats

 

John

[TomB]

I don't think you did anything wrong. If it makes you feel better, perhaps the dealer already knows that the coin is lightly wiped and, therefore, worth less than two dollars.

[Wihlborg]

don't think you did anything wrong. If it makes you feel better, perhaps the dealer already knows that the coin is lightly wiped and, therefore, worth less than two dollars.

 

 

John

[thebeav]

Hi Robert,

Never a problem when paying the full 'marked' price on any item. Now, if you would have asked if they would accept 1 dollar for this coin......Maybe that would take us into a different ethical discussion...

thebeav

[RobertB]

I don't think you did anything wrong. If it makes you feel better, perhaps the dealer already knows that the coin is lightly wiped and, therefore, worth less than two dollars.

 

 

I think I can live with that scenario. Hey, what do I know about grading anyway?

Thanks Tom.

[Leothelion]

When I first started collecting FS Jeffrsons, at an auction I picked up a partially filled Whitman Jefferson nickel folder for $25. Before bidding on that set, I knew there were high grade FS Jeffs in there and when bidding stopped at $25, I was tickled to death. I remember leaning back in my chair taking a glance at the other bidders and laughed. I was really thrilled. From that set, I certified about 20 FS nickels in the 65 to 67 grade that included the first ANACS 65 FS 1953. A second MS65 FS 1953 was certified later that year and sold for over $800 and that was back in the mid 90's. Believe it or not, I'm still locating high grade FS nickels for as little as 12 cents. See attachment and check out the 1955-D. I paid only 75 cents for it and it's the best I've seen to date. I have sold 3 FS 55-D's over the last 14 years but they all had weak strikes. I imagine they now exist in those highly touted registry sets!

 

Leo

[Beijim]

You did nothing wrong. Pricing responsibility rests with the seller. Congratulations on a smooth bit of arbitrage.

 

Beijim

[spy88]

OT, but Leo started it!

Leo, now I KNOW you were in my collection! My 55-D is missing and I had to post pics of my second-best!

 

 

And Robert, you did nothing wrong or unethical. A dealer is supposed to know WHAT they are selling AND what it is worth. I would never sell a coin without knowing these two little tidbits of info!

 

David