What's the ethical thing to do?

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not this situation but ethics

 

A Possible Definition Of Ethics!

I was one of the first to respond with my personal beliefs, contrary to normally applied ethics. It was my application in similar situations, where I had individuals respond to my appreciably greater offered prices for PM commodities. Several brought stellar condition inherited collections, to be sold at a greater price than offered by others. My "ethics" wouldn't allow, for example, accepting Mint State Carson City coins, at generic prices. I hope that my post may also be the termination of a very controversial, contested subject that stimulates the ire of both buyers and sellers.

Having been very blessed in life with understandings unrecognized by the majority. I've been successful in virtually every endeavor mastered, generally peerless because of simple truths recognition.

I search for the "simple" axioms/truths of problems, often missed by the majority. Although raised in a very religious environment, attending parochial school, my simple search has created an "Agnostic" understanding, defined thus: http://www.thefreedictionary.com/agnostic

Having studied the "religions", I found that most don't understand the precepts of that which they advocate. This thread has exposed diverse understandings of ethics/morality. I believe all are well intended, as most have moral inclinations. I believe the precepts of all "mutually beneficial" (versus self-serving) religions have basic understandings/laws/commandments/etc. which define ethics/morality. Since I'm to understand that the predominate religion in this country is Christianity, I ask consideration of a certain chapter/verse of the Christian New Testament. One, which I believe simplistically defines the basis for ethics et al. The statement is one of "the Christ". He stated in Matthew 7:12, "So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets"

I believe that regardless of your "religion", or lack thereof, whether Satanic to Christian, the aforementioned passage may provide a guide to your personal ethics/morality, explaining diversity in application. I trust that the well meaning will accept diversity and just avoid those incompatible with your acceptability of values.

Just my "simple" understanding. :thumb:

 

I agree with this in principle. I'm having trouble figuring out how to apply it in a few specific circumstances, though.

First, "cherry picking". If I find a bunch of coins being offered at melt+10%, and among them I find a couple of semi-keys worth 2x-3x the asking price, am I ethically obliged to point this out when...

a) the seller is a grieving widow liquidating her husband's collection? (I'd feel obligated.)
b) the seller is someone at a flea market who's mostly selling knockoff sunglasses and phone accessories? (I probably wouldn't.)
c) the seller is a well-respected dealer at a show? (I'd be more likely to start a conversation, thinking maybe I was missing something.)
d) the seller is listing them on eBay? (I grab them without hesitation; is this unethical?)

Second, auctions in general. If I see a coin come up for auction, and I think I recognize it as a rare variety that isn't disclosed in the listing, am I ethically obligated to tell the seller about it? Am I ethically obligated to tell the other bidders?

If the listing is on eBay, what are my obligations? Am I being unethical by sniping, since this lets me withhold information about my valuation of the coin until it's too late for anyone to react to it?

 

The real ethical question, if it is a real MPL, does the dealer tell his partner? I know this is frivolous, but I have been thinking it throughout this entirely serious and meaningful thread.

 

All excellent questions, but they're a bit divergent from the question posed by the OP. I would say that, in a face-to-face deal, both parties should divulge all information they know (or suspect) about the coin...in advance. Once the deal is concluded, that's it.

Remember, this is a question of "ethics", not law. If you wander into a flea market and see a $500 VAM in the junk silver pile, how you decide to proceed is entirely a personal matter. The same is true with online auctions, sniping, etc...if you can live with your decision and you're not breaking any laws...there's nothing that says you shouldn't.

The OP's question was about selling a collection to a trusted Dealer. If I were that Dealer, I would feel obligated to inform the Seller (who probably knows much less about Numismatics than I) that the coin was improperly slabbed. If I didn't discover the slab error until after deal was complete, I would feel my "ethical" duty was complete.

However, should I go a step further and reopen negotiations with the new information once it's discovered? ...I would like to think I would. If I'm running a reputable business and expect my clients to trust me, I would want to be worthy of that trust.

 

Surprises me how Doug isn't "Gonna getcha for that one."

 

Hey everybody Read All About It

www.coinshowradio.com

I salute you in regards to some of the brightest guerrilla-marketing I have witnessed in recent times. 3k+ hits in less than a couple days, very impressive. I do believe I will toon in and see what you got in the near future. I couldn't have done any better myself

 

Simple my patoot!!! I have yet to see you use a monosyllabic word where it suffices when you can use a much more verbose example from this fine language we call english......also your points are usually very well thought out and far from simple my friend.....but your point is a good one as the golden rule would always apply in a perfect world......and this would be a one page discussion in said world as well....good night all, its getting late.

 

Split the profit. Both sides win this way.

Don't get greedy An unexpected $2500.00 profit would please most...

 

finally grandpa its another hit. btw what you say does change my mind every now and then if I am on a different page to begin with and I can get you to say something. so you cant say it doesn't make a difference to anyone.

brilliant you now have a whole week off from palace duties and I wont be bothering you

on second thoughts make that 24 hours a week is too long without grandpa

do post a couple of ethical stories when you get a chance that will be an inspiration to us

 

Here we go again. If it is indeed a Matte, the original owner got sacked. I have seen this more over in the past from all of the TPG's.

I know this hobby can make you a winner but as most know we all lose more than we win. Saying this, a split is the correct thing to do or as lawyerlonegun says, the first person should get the coin back because there was an oral discussion of the possibilities of such coin.

Be very careful people, do your homework. All dealers are not trustworthy, find one that will go the extra step for you.

 

Now about: (Ooops.....I meant How about?)

"Know what you are selling before you sell it."

I have a certain knowledge about Eisenhower Dollars and I also know that "Most" coin dealers do not. They can tell the difference between a silver and a CnClad (well...most can) and they know the difference between a proof and a business strike. Again....Most can. But the line stops there.

As such, I document what I have so then when I finally Kick that Bucket, my heirs will have a least some inkling of what "they" have since I know that a random coin dealer, trusted or not, won't.

As for the subject coin, a "time line" would be most helpful. I haven;t read that last couple of pages, but did Mr. Noodle "know" who the seller was? Did he "observe" the transaction of was he simply told about the transaction when the dealer asked him for his opinion?

 

your hears huh.......heir's?

 

at least he knows it starts with 'h'. he could have spelled it airs. or errs.

 

Dang!

 

I only learned of the coin after the dealer had purchased it. In a prior post we had said that the ethics hinge on when the dealer suspected that the coin could be a MPL. If he only discovered it after he had made the purchase, things are far different than if he suspected at the time of purchase.

I'm still snickering at you calling me "Mr. Noodle", Lee... It sounds like my Dad or something.

 

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LOL! Hey you deserve the respect!
Besides, I'm probably old enough to be your Dad.



No wait...........you and Doug are buddies so maybe not.