Amazing morgan lot bought

I enjoy tracking people down online, it's a lot of fun.

 

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Guess that means I should turn the green button lite on? That's pretty neat..

 

I'd never bother to go after someone nice. Now, egotistical, self-centered pri... uh, people...

 

Wow, you seriously ripped a friend off like that? And you are bragging here about it? A good friend (meaning you) would have taken your friend to a LCS where they would have properly paid him after grading each coin. Then had your friend buy you a real nice dinner for helping him out. Think about it.

 

Horsehockey! Colonel Sherman T. Potter

 

My 2 cents:
1 - the coins are probably fake, at least the 95's. Show me that coin in a tpg holder and then I'll believe you.
2 - 1,000,000'aires generally don't get to be 1,000,000'aires by giving away 1,000's, nor do they stay that way long by doing so.
.... if it does turn out to be real, and the guy you got them from is ok with tossing cash down the drain, then congrats on the find and pick up ! I bet many dealers reading this (not all) are green with envy.

 

I guess that was his Louisiana and Alaska purchase like the USA did.

Gordon Geko...greed is good

There needs to be some effort to payback here

 

While I do not find it difficult to understand how a close friend might want to "gift" (via unreal below spot prices) a bunch of Morgans to someone whom they know collects coins, I do find the changing "figures" in this post to be somewhat interesting.

Was it 34 or was it 53?

As for the claims of some folks about the OP "ripping" someone off, I think that's really a matter between the two of THEM and not for folks on the forums to pass their "perceived" judgement(s).

I've given friends quite a bit over the years and have also received quite a bit over the years but they are all still my friends.

 

Everyone - I have to say I am more disappointed in some of the commentary here than I may be of the OP. While we/I often times want other people input, there are times when your/my opinions/thoughts are better left unsaid.
While I do not agree with ripping people off, I have been involved in deals where someone has knowingly accepted MUCH less for a coin than what it was worth (For reference, I have been both the seller and buyer in these types of transactions). The what’s and whys in these cases are, to anyone not directly involved, often inconsequential. None of us were involved in the transaction. None of us know all of the details. And, as proven over and over again, assuming makes something out of all those involved...
OP - You know whether this was an ethical deal or not. If it was, great find! If it was not, I would highly suggest you make right one it - Karma... (BTW - this is meant as a statement - not a question. I do not need to know whether this was ethical or not - that is for you and the seller to know).

 

jmon, I had to go and "View Post" each of K2's posts in order to quote them. Having him on my ignore list is a nuisance with regard to that.

Anyway, in the dealings you had, did you _EVER_ brag about the outcome? The issue many have with the OP isn't just that he ripped off his friend, his friend's dad or his dad's friend (all three were mentioned in the continuum of his story), but also that he's been demanding of grades (in other threads) and chose to brag about ripping his friend off.

Now, to the point of what we know of the transaction, you're absolutely right. Anyone not involved in the OP's transaction only knows what the OP has told us. I've included that below for reference (and to verify my statements).

OP has told us:

1) That he's 14. ( http://www.cointalk.com/showthread.php?t=153943&p=1145507&highlight=#post1145507 for reference.)
2) That his dad's friend wanted "$3-$8" per Morgan and these were Morgans that his friend's dad was "storing for years." He offered $15 per coin, when he knew they contained over 0.7 OzT per.
3) That he doesn't want to tell the original owner that the coins he purchased are worth north of $1000 in total (since a single one of the coins is valued at least at $800).

The respondents to the post have fallen into one of two groups: Those who commend the OP since "a dealer would have done the same" and those who believe the OP ripped off his friend (and by extension has no ethical markers). I fall into the latter for a couple of reasons:

1) I believe most long-standing coin dealers are fair individuals who realize that consistently ripping off the public will lead to going out of business. Therefore, I think the friend / friend's dad / dad's friend would have been much better off selling directly to a dealer. Even the most unscrupulous dealer would have offered spot. Better dealers would have offered 70-80% of book value.

2) I try my best to be fair with everyone, especially friends. As I've said in the thread, the OP could just post "I told my friend that the coin was worth $1000, and he said it's okay. Since he refused to take some of the money, I bought him a nice scooter." Or, if the story that it's his dad's friend is the right one, then he could say "I told my dad that the coin was worth $1000, and we went over to his friend's house to explain. I offered to return the coins, but he refused. He told me to keep them and focus on growing my collection. I then told him that I was going to the expensive coins, so I went with my dad to the cigar store and bought his friend a very nice box of cigars / bottle of cognac / (whatever vice dad's friend likes)." The problem is this is the story that the OP is relating to the forum:

Someone close to me sold me their coins for WAAAAY under fair value because he wanted to help me build my collection with those coins. I'm going to sell them to make a quick profit.

Now, if you're wondering how I concluded that last part, it's based upon the OP posting several different threads asking for grading input so he can submit the coins to a TPG to sell. Intent is reflected in the actions taken after the fact.

 

NorhtKorea,

Please do not mis-read - I am not in any way defending the OP. If the deal was wrong, it was wrong. And, as many have said - what goes around comes around.

To your question - No, I have not. As a personal preference I try to avoid braging period. However, when I was the OP's age I wanted to brag about everything, and was inclined to stretch the facts for no good reason. Is that the case here? I don't know; but, I suspect it may be.

I do have my opinions about the OP and his deal. My opinions are based on what I have read here, which is at best one side of the story. I hope that the seller knew what he was doing, and did so because he wanted too. But, I have no way of knowing. Hence, I ellected to give the best advise I could at the moment "OP - You know whether this was an ethical deal or not. If it was, great find! If it was not, I would highly suggest you make right on it - Karma... "

I do feel as though some people (note - I have not listed names for a reason - I would prefer that everyone, myself included, take time to think before posting/responding to any thread) have been too harsh, rude and or opioniated in cases here. My hope in posting my opinion here is that everyone will stop and think about their post's before lashing out with some of the unnecessary comments. I think the guidance, or what I perceived to be guidence, has been given with the best of intentions - and, sometimes that guidence has migrated towards a lashing, which argueably may be due. However, again, I would hope that people stop and think before speaking.

Lastly, I don't mean to come off wrong - though I have joked about "can't we all just get along" and the likes, I think there are cases where a good 'ol fashion whoppin' is due - but, before I give one, I get all of the facts. And, in this case, I don't believe any of us will ever have them.

 

Well said Doug.

 

The OP is only 14?

Good for you that your friend's dad wants to get you into the hobby.

 

I totally agree. he did not ask for our oopinions and basing said opinions on partial information is wrong. Maybe the dad sold them on purpose to help him out? How do we know the buyer didn't already tell him about the coin? Regardless it's none of our business. He got a good deal, the seller was aware of what he was doing, especially if he was a collector.
So, as my mother used to say if you do not have anything nice to say don't say anything at all.

 

I was at a garage sale last weekend and found a Cheerios dollar still in it's cellophane, (or pliofilm, whatever it was). The people wanted $5.00 -- I took up to the lady at the collection and told her it was worth at least $2000.00

Well the coin went off the market and I couldn't buy it.

Maybe I did the right thing, but I would have felt a lot better doing the wrong thing.

 

Some of you people are unreal here. Have nothing better to do, but dissect who, what, when, where and why.

It is what it is, and I hope the OP sends them off to get graded and they come back as authentic.

OP, no need to justify anything. You got a good deal and I hope you get some of them certified.

 

+1, Mark you wise beyond your years!!
Steve