Is it legal?

Interesting...I didn't know about the relationship of the Associate to the Dealer. When I reread the OP, I noticed...

...and that the OP bolded the word "he". So you're saying that it wasn't kosher for the Associate to do a little business of his own on the side?

 

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Yes . Employee's get fired over doing stuff like that, and depending upon the business owner , they could also face having their Bond forfeited and than that would create a serious problem for that individual either in remaining employed in that business or seeking similar positions or any position that required being bonded .

 

There are a couple of points in the story that are a bit confusing to me...

1. If the Associate bought the coin himself, why is the store (presumably) helping him get his money back?

2. It sounds like the Seller returned the store's call the same day of the sale (although that's not explicitly stated). If that was the case, why is the person at the store (not clear if it's the Associate or someone else) talking about a repayment plan? Did the Seller tell the person at the store that he had already spent the money?

Hopefully, the OP is lurking and can offer some clarification. :loud:

 

I don't have a clue . As far as any agreement to re-pay any monies back to that Dealer or their Agent ( employee ) , from a legal perspective is unfounded. Whatever that seller agreed to do , may simply be due to some sense of a moral obligation . Two things I do know, (1) the seller in this case is not legally obligated to refund any monies . (2) They would not have received a penny from me freely. Merc laid out some good information about business practices as they could be applied to this situation .

 

Caveat emptor

 

But that doesn't change the fact that the chain of custody of the coin was broken once the seller left the shop. I bet this dealer starts educating himself and his shop better. Counterfeiting, altering, toning etc. has always long been a hazard to our hobby. Unfortunately, there's not much you can do when you get one of them other than try and not repeat the mistake.

gary

 

The B&M made the offer and purchased the coin, There is no legal right for the seller to have any further obligation to the B&M Party involved. It is my opinion that the seller has ABSOLUTELY no further moral obligation to do business with this B&M party and should further more file a harassment claim with the local authorities.

 

This reminds me of that Twilight Zone where the aliens isolate a town and turn on and off a couple of peoples' lights and just sit back and watch the town destroy itself with speculation!

 

Tell your friend to tell the store to call the police and to quit bothering him or he should call the police himself!! Your friend hasn't done anything wrong at all and it may have to be settled in a small claims court if in fact the store really bought that coin without testing it. I personally have never known a coin shop to buy gold without acid testing it first. Your friend is well within his rights to tell the coin shop or whoever actually bought the coin to take him to court and that's probably the smartest way to handle the situation.

 

My coworker got the coin through circluation, saw that it was unique in some way(I have no idea in what way I myself have never seen the coin) and went to see if it might be worth something.
I dont think he can be "charged with attempting to pass a counterfeit coin" because he didn't try and hawk the coin, sell it or get rid of it in any way. He just asked the store worker if the said coin was worth anything, so it was an appraisal. He didn't go there to sell it. My coworker didn't force the store to buy it, he didn't threaten them or make them in any way, they bought it of their own free will. They CHOSE to buy it, they chose to buy it without any certified anything, they chose to just lookit up in a book as ask a price for it. He never went in saying it was real or fake or even made of gum.

The store wanted to buy it so he sold it to them.

It's like if you or I went to get something appraised at some specialist store (the coin store in this situation) and the said specialist store offered to buy the the object bc they thought it was of some value and you agreed to sell it to them. It's not your fault that they wanted to buy the object bc they thought it was of value but were too incompetent to make completely sure it was. They are the specialist and they should have the right processes of varifying items before a transaction is made.

 

I bet it was a magicians coin or something.

 

OK so there seems to be some confusion going on.
I will try and clear some things up.

My coworker goes into a coin shop with a coin.

My coworker askes the store associate how much the coin he brought in is worth, if anything.

The store accociate looks at the coin, then gets a book and looks up the coin.

The store accociate then says he will give my coworker $850 for the coin. (THAT MEANS HE OFFERS TO BUY THE COIN)


That is how it went down.

My coworker then talk to his fiance and then decideds he will take the store associates offer to buy his coin.

The store calls my coworker and asked him to bring the money back bc the coin is actually fake.

My coworker then says that he doesn't knw if he should do that and he already spent some of the money.

The store then says that it's fine if he spent some of the money bc my coworker can pay them back with payments.

My coworker says no and that he is going t have to think about everything to make sure this is legal.

The store then calls my coworker threatening him and saying they will call the police and that he must return he money, over 20 calls fyi.

I really hope this clears things up.

 

when I said "he" I am assuming that the store associate was acting on behalf of the store not himself.

 

Wow, over 20 calls? I'd advise your coworker to go to the police tomorrow morning and file a restraining order.

 

The B&M made the offer and purchased the coin, There is no legal right for the seller to have any further obligation to the B&M Party involved. It is my opinion that the seller has ABSOLUTELY no further moral obligation to do business with this B&M party and should further more file a harassment claim with the local authorities.

Read more: http://www.cointalk.com/showthread.php?t=155979&pagenumber=#ixzz1Dokrgdmr​

Thank you, this is a good answer.

 

yes over 20 calls and that was just the second day.

 

Hmmm... a circulating counterfeit. Probably not a strange error as they couldn't really be looked up in a book... Must be a semi-key date penny, nickle, dime or quarter that's not a currently circulating design. (Like it wouldn't be a 1932 S Washington; that would look more "old" than "unique.")

 

With patience, you can always find the answer you want!

 

okay so the coin store associate did not buy the coin himself. He bought it on behalf of the store.

My coworker who sold his coin to the coin store did return the call that he got from the coin store when they requested the money back. My coworker said that he already spent part of the money he got for the coin. The coin store then said that it was okay that my coworker spent some of the money and that they would set up payments for my coworker to pay the coin store back the amount they bought the coin for ($850)

 

I think it was some sort of double stamped nickle or something but I am not really sure, I can ask him though and clarify.