"Would you say this is an insulting offer?"

[MarkFeld]

If a customer receives a coin on approval and doesn't return it, is there some kind of dealer data base listing dishonest individuals so that other dealers don't get taken? I'm sure there is word of mouth communication but that isn't very efficient.

 

With the aid of coin forums, dealer exchanges (such as CoinPlex and CCE) etc., word gets out pretty quickly and widely.

[coinman_23885]

Way of the Numismatic world? What about the guy ATS who sent out the $2000 coin on approval and the buyer passed sending it back insured for what $300 and USPS lost it. How did that turn out? Wondering if that thread still there.

 

Nice attempt at deflection, but again what is the legal recourse (expensive attorney fees?) in the event the potential seller does not return the approval coin? Without a formal contract, I wonder if this would be essentially unsecured debt (probably uncollectible). I mean you proably could not even ding this guy on his credit rating - refer it to Tony (Soprano)?

 

I'm not trying to go off on a tangent, but I'm not sure that a civil suit against the dishonest prospective customer would be very fruitful given that the original poster there will likely be required to pay more in attorney's fees than his claim is worth. Nevertheless, as Mr. Feld indicated, there are ways to put pressure on a would be con artist including pursuing criminal charges. In fact, the latter may be the most expedient, especially if the criminal trial court judge were to order the defendant to pay criminal restitution. If this were the case, then the unsecured debt should be nondischargeable in bankruptcy and the seller should be able to encumber the defendant's assets. Overall, even for so called "judgment proof" people, given the nondischargeable nature of the debt and the ability to encumber his or her property, the odds of having an opportunity to at least partially recover some of his funds is much higher even if the judgment takes a few years to enforce.

 

Second, if the seller is inclined to pursue a civil case on its merits/principle alone, then a civil judgment would certainly show on his credit report. If the seller is able to acquire a judgment for an intentional tort (e.g. fraud) then it would similarly be nondischargeable, increasing the odds of recovery. If, however, the prospective defendant proved that the coin was indeed mailed, albeit with insufficient insurance, then a negligence tort could potentially be feasible; however, there would be issues with the unsecured nature of the debt.

 

Overall, I don't think that all hope is lost; however, any attempt to recover money civilly would be costly and would require the expenditure of resources. I would, however, pursue criminal charges, allowing the district attorney or commonwealth's attorney to do my dirty work for me. At the very least, pursuing criminal charges would effectively provide the OP ATS an effective means to retaliate without having to spend a lot of money or time.

 

[Mark T]

Insulting ?? No . With that being said – Mark I would like to offer to purchase your entire inventory at 75 % of your cost. Now that’s insulting . Look at the bright side of my offer – you get a wonderful tax write off .

 

All kidding aside – you have a great eye for quality coins – any premium attached to what you sell if fully worth it.