What Would You do if You Discovered the Coin You Purchased Was Stolen?

[braddick]

Say you purchase a choice and somewhat scarce coin off of eBay. You don't personally know the Seller, but you've seen his handle around and his feedback is pretty good.

 

About six months down the line you decide to enter the coin into a new Registry that you are building. You can't because the insert number is already spoken for. Upon a back and forth email exchange with the Registry people at the Grading Service it is discovered that your coin had been stolen in a burglary about eight or nine months prior.

 

You contact the eBay Seller (it takes awhile to remember who it was that sold you the coin-) and he pretty much states he does not recall where he purchased the coin originally but certainly had nothing to do with any theft or knowledge of such. The Seller's story rings true because the original owner, the collector who never took the coin out of his Registry after it was stolen with the hopes that one day it would surface, lives in another State. Regardless, this Seller wants nothing to do with the coin and considers his sale a clean one with no obligation on his part to proceed as a middleman.

 

Now this original Collector, having retrieved your email from some unnamed source (the grading service?!) is somewhat chasing you down for the coin.

What is your obligation? What would you do?

Would your answer change along with your course of action if the coin had been purchased of off eBay for $50.00? How about $500.00? How about $5,000.00?

[truthteller]

Pat,

 

First thing is to call you late at night from the jail so you could use your influence to get me out. As long as there is a police report on file for that particular coin and not one that just looks like mine, then there is an obligation to return it. I believe in some states, but not many, that the original owner must compensate the loss to the new owner. Then the original owner must seek out the sellers to get reimbursed. $50 bucks is no big deal, $5000 I want to see paperwork, police reports, insurance claims etc. By the way, this happened to me where I ALMOST bought stolen coins, but the dealer informed me of the incident, and I returned them without loss.

 

TRUTH

[CONSERVATIVE]

Pat,

I would let judge Judy handle that one in court. Sounds like she would return the coin to the original owner and make the person who sold it to you return the money you spent on it back to you. BTW nice State Quarter. It was more than I expected.

 

KINGKOIN KING OF KOINS

 

[kenwin1]

I think I would either let the police or the courts to decide that one. But if was under $100, I would return the coin to the origanal owner, But only with proof.

[Hoot]

I'd do all I could to facilitate the return of the coin to the original owner, regardless of cost. I would not want to be one dime in the process, so I'd take whatever precautions are necessary. I'd also want to see police reports and insurance claims, especially if the coin was expensive.

 

Hoot