did i sound like a crook because i told the truth?

Being a small business today isn't what it used to be. Typical consumers today expect, and demand far to much . Nah, it's not easy for sure., and that old saying " the customer is always right " doesn't apply these days.

 

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That's because some people know they are right... Even when they aren't and nobody is going to tell them differently. The vast majority of people are level headed and realistic... But there is the vocal minority that cause most of the issues.

 

It never hurts to tell the truth. The problem is that NOT enough people (coin dealers Included) tell the truth nowadays. GOOD FOR YOU!

 

It's really not that much work if you don't consider jaw-jacking work. Chances are probably better than 95% that he will not take your offer anyway, but you may gain a customer along the way.

 

Who did he purchase them from? Littleton? 20 Years?! Let it go! You have much better things to focus your energy on!
Steve

 

HAHAHA...same for politics!!! ROFL

 

Might be slightly harder to rip people off that way these days when an extensive library of expensive coin books and auction catalogues is no longer as important as it once was. Unless they're so stupid and lazy that they can't even look up the going rate for similar items on the internet...

 

It's not that... It the potential of passing along the "problem" to someone else by selling his coins for him at the crazy prices... even if the probability is low you have the potential to be the one ripping off the unknowing person.

 

"Realistically" speaking, 5 minutes of research in the 80's would have netted exactly zero results.
The internet did not exist and determining market value was not a simple thing for an unknowledgeable individual.

Additionally, the Silver Eagle design was a VAST departure from current US Mint offerings in that it represented the first time ever that the US Mint had reused a design from a circulating coin. The Walking Liberty Half, in the 80's, was an extremely popular coin and there was a LOT of press regarding the Silver Eagles and there respective futures. I don't think folks really figured that the program would last as long as it did.

When these were issued, I went out and purchased 5 coins at, I believe, $7.50 each which, at the time, was an outrageous price. But what the hell did I know. Thats what the shop was selling them for, I'd read the hype, and I wanted them. (Speculation was NOT in the picture)

Additionall, PCGS started in Feb 1986 and was really being pushed hard. PCGS Slabbed coins were brining good value and I can understand how the combination of PCGS and the new SAE's could directly impact an unknowledgeable individuals decision to purchase.

Yes its sad that this fella got taken as those prices seem a bit ridiculous. But then, ask yourself, how common were MS69/PR69 coins (1 point below perfect) at the time?

I'm certainly not making any judgments but before folks are so quick to condemn, the situation of the times need to be understood.

 

There were probably some slabbed back then, but not in those grades. During the first couple years PCGS was "scared" to grade much of anything better than a 65. I would be surprised if thereare any ASE's in rattlers graded 68 or 69.

And it really doesn't matter what you tell him, the dealers are going to be made out to be crooks anyway. If he is told the truth "The dealers were trying to rip him off because they are crooks" and if he does finally come to realized that he way over paid then "He got ripped off and charged tooo much because dealers are crooks". If he doesn't make a bundle on his "investment" it's going to be because of the crooked dealers.

 

maybe it was like early 90's? anyway, during that time some dealers were shooting for that first perfect score of MS/PR 70