Full disclosure

[MikeKing]

When you sell to a dealer, you should ask for full disclosure.

What I mean by that is to know if the dealer is going to sell the coins to other collectors as yourself, or to another dealer.

 

This is important in knowing whether you are being treated fairly or not.

 

If they don't disclose this and lead you to believe you are being treated fairly, they are being dishonest.

 

This dishonesty may be considered 'business', and others may hold you accountable to accepting the price you get for your coins no matter what happens to them. This doesn't make the dealer any less dishonest.

 

There are dishonest dealers who deal in high end coins and have both established 'good' reputations, have friends on this board and others and scout around looking for ways to defend themselves.

 

This is a shame, and it's bad business no matter how you look at it.

 

Someone said "What does ethics have to do with business?"

 

"Nothing"

 

Ethics IS Ethics no matter what.

 

 

[okbustchaser]

What difference does it make who they are going to sell to? If you are happy with their offer, take it; if not, walk. Once it is their coin they are entitled to do the same.

 

Maybe I am simply dense, (actually, probably) but I see no ethics question in many "so-called" ethics threads.

[MikeInFL]

When I sell to a dealer, I could care less who he/she is going to sell it to. The only thing that matters is how much he/she is going to pay...Mike

[MarkFeld]

When I sell a coin to another dealer (or a collector), I have no real concerns regarding to whom he will be selling it. What I do care about is whether he plans to doctor the coin. And, while I can't guarantee success, I try to avoid selling to people I think are likely to do that.

[rbrown4]

Mike,

 

I understand what you are saying about disclosure. But don't you agree that when selling a coin, whether to a dealer or not, that one should know their own expected value for the coin and to only accept what is viewed as acceptable to the seller, regardless of to whom the buyer will eventually be selling the coin. Also, I would think that many times when a dealer or anyone for that matter purchases a coin, they may or may not know who they will be selling the coin to in the furture, another dealer, individual, etc.

 

Rey

[thebeav]

Sorry Mike,

I've got to agree with the masses here. I couldn't care less who buys the coin after I've sold it. As a matter of fact, in many cases, the prices I'll sell for are the same whether I'm selling to a dealer or to public.

 

Paul

[TomB]

You may ask for this disclosure, but if you do not receive a response it does not mean that the potential buyer is dishonest. The question and reply are not linked to ethics, they are disconnected. If I were a full-time dealer and a possible seller asked me what category of potential buyer I would market the coin toward I would either tell them the truth or tell them that, as far as I was concerned, the answer was immaterial to the sale. If the possible seller was not satisfied with that answer then they would be free to do as they pleased with the coin, including selling it to me or attempting to move it somewhere else.

[MikeKing]

I'm not selling any of my coins without full disclosure. I've decided.

[WinstonWare]

Mike, how are you sure that they always know to whom they are going to sell the coin? Perhaps, they agree with you on a fair price and would like to have the coin as inventory but don’t yet know precisely who will buy the coin. That can happen right?

[MarkFeld]

Mike, how are you sure that they always know to whom they are going to sell the coin? Perhaps, they agree with you on a fair price and would like to have the coin as inventory but don’t yet know precisely who will buy the coin. That can happen right?

Approximately 90% of the time I buy a coin I don't know whom I will end up selling it to. My preference is to sell my coins to collectors, but things certainly don't always turn out that way.

[IGWT]

When you sell to a dealer, you should ask for full disclosure.

What I mean by that is to know if the dealer is going to sell the coins to other collectors as yourself, or to another dealer.

 

This is important in knowing whether you are being treated fairly or not.

 

Mike, you have to spin this out a little bit for me. I'm not sure why the fairness of the deal depends on knowing whether the next owner will be a collector or a dealer.

 

Did some dealer give you a song and dance about having to wholesale a coin and then quickly sell it to a collector?

[Bruceswar]

When I sell a coin to another dealer (or a collector), I have no real concerns regarding to whom he will be selling it. What I do care about is whether he plans to doctor the coin. And, while I can't guarantee success, I try to avoid selling to people I think are likely to do that.

 

I have to agree here

[bsshog40]

I guess if it matters that you have a disclosure before selling a coin, that your sales on the internet will be limited?

[James_OldeTowne]

When you sell to a dealer, you should ask for full disclosure. What I mean by that is to know if the dealer is going to sell the coins to other collectors as yourself, or to another dealer.

This is not realistic. My guess is that a majority of the time, a dealer buys coins without knowing where they will end up. Furthermore, I quite often have no idea if the person to whom I sell a coin is a dealer or a collector. He could tell me he's a collector, but actually be a wholesaler.

 

I like your intent, but wonder if the expectation is realistic....

[michael]

When I sell to a dealer, I could care less who he/she is going to sell it to. The only thing that matters is how much he/she is going to pay...Mike

 

 

yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

 

[Bruceswar]

When I sell to a dealer, I could care less who he/she is going to sell it to. The only thing that matters is how much he/she is going to pay...Mike

 

 

yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

 

I am sorry. I am not in this for the money. I would rather the coin go to a "good home". The money I spend on coins is not going to make or break me in any way form or fashion. I would rather protect a coin sorta speak than have it dipped stripped and flipped.