Is it legal?

so who is the dealer who is harrassing and trying to intimidate your friend?

 

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Let's see, we learned the mystery of the phone number and the coin involved, the price paid by the dealer and his failure to spot signs of counterfeiting (likely the added D mint mark) who doesn't read PCGS counterfeit detection manuals and that they actually made a movie based on the book "The Count of Monte Cristo", which I read again a few months ago, actually. This has been both imformative and entertaining as nearly everyone has jumped in at some point.

The only question I have now, is to ask if the seller has contacted the authorities and reported the attempted extortion ?

gary

 

I'm sorry but 1916 D authentication is coin dealer 101. I bet you he takes the time to learn now...

 

+1
If your employees aren't qualified, you just don't let them buy things. ABC's

 

What I want to know is how many of the people who said to return the money still think the seller should, and that he is unethical if he doesn't.

Lets see: The uneducated seller brought a B&M coin dealer a 16d mercury dime, the dealer quotes a price and buys the coin. Then he calls the guy back and wants his money back...
I'm sorry but what is to say the dealer is ethical enough to not switch the original coin with a counterfeit? Just like Lostdutchman said: it's coin dealer 101, he should take his lumps/lessons and learn from them....assuming he wasn't trying to pull a switcharoo.

In a situation where an uneducated seller sells a coin to an expert and it's counterfeit, the expert/dealer should know better.

If the seller was educated and intentionally attempting to rip off coin shops with counterfeits, that's a different beast.

 

Did the store have a sign anywhere that said "ALL SALES ARE FINAL"? That would be a simple solution, because all sales would be final...no returns, not even cash? I think the dealer should be able to take it as a lesson in this case

 

I didnt ask the stores name.

 

No he didnt call the police. He just ignored the calls and then the calls stopped.

 

I asked him where he got th coin and he said it was his fiance's grandfather's who had given it to her. So my coworker thought he'd go and see how much it was worth. He was not intentionally attempting to rip off the coin shop.

 

I strongly recommend that you have your friend consult an attorney licensed to practice in the jurisdiction where the transaction took place. In the meantime, for entertainment purposes only, I suggest reading the case of Beachcomber Coins v. Ron Boskett, 166 N.J. Super. 442 (1979):

http://scholar.google.com/scholar_case?case=13472870429185911480&hl=en&as_sdt=2&as_vis=1&oi=scholarr

 

I feel that was a mistake. Simply because the matter would have been investigated by a disinterested party. If in fact, this seller was trying to scam somebody, it should have been noted. If just to protect subsequent parties from being victimized. When things don't "feel right", they usually aren't. But I can understand the seller needed to sell the item and likely has spent at least part of the proceeds of the sale. Involving the authorities could cause him to need to make restitution to the buyer if it could be shown that the coin sold was actually counterfeit or altered.

But documentation of events might be necessary just in case the buyer has instigated some legal proceedings against him. You never know how all the players are going to play their hands. Since this deal already went south, he should cover his back. IMHO

 

Again, good intentions do not always mean a good outcome.

 

Dang ! Now I have to get my lawyer to explain this to me.

 

I'm definitely no lawyer, but it appears that a lower court ruling found in favor of the defendant, but was subsequently overturned in the Court of Appeals. The plaintiff, meaning the buyer of the counterfeit coin, was entitled to his purchase money.

Chris

 

Yeah, they dont always mean a good outcome but I was showing that he was not trying to commit any sort of fraud bc he didnt go in there trying to hawk a counterfit coin and the "bad outcome" as you say, altho occurred, was not his fault.

Frankly, none of that matters tho, except the legal obligation part. Ethical and Moral debate is not the topic.

It's funny tho, I just ask a close friend last night and she responded with an ethical/moral answer..I guess everything reverts back to that anyway.

 

You're welcome! And thanks!

 

If he knowingly sold the shop a bogus coin we all assume that to be fraud. But since he didn't know it to be a fake it is allright? If that is the case, it all comes down to a matter of intent? ie. selling a known counterfit VS not knowing the coin was counterfit.

 

I am just assuming (bc I didn't ask him) he doesn't care to contact the police. That he is satisfied that the calls stopped and can forget about the whole thing.

 

There was no way he could tell if the coin was fake or not bc he said he doesnt know anything about coins but when he brought the coin in to the shop they said it was real so he went with their word.


Side question, if he did know the coin was fake, would the stiuation be different and would his legal obligation change? Seeing that you mentioned fraud and what not. I'd assume no bc people in the world get screwed over all the time but I don't know the correct laws tho.

 

Knowingly passing a counterfeit coin is a crime. What your friend did is not. He's fine.