Hypothetical Coin Deal Gone Bad

You've purchased several very nice expensive coins from a few different dealers who all happened to advertise a return policy of say ten days to two weeks. The first coin arrives via USPS, but you're too busy to examine it closely. You quickly take a quick glance at it, appears to be a beautiful (raw, F-12/15ish) 1807 Capped Bust Half Dollar. But, your busy and it's shuffled in amongst some important papers which are occupying your time and covering your desk. It could be for any reason and yes, it happens.

As fate would have it you also received a couple of other, more expensive desirable gold coins later that same day via UPS and while looking at those, worrying about your business, and other things you totally forgot about the little old 1807. Several days later, after an emergency business trip you are going thru the same papers and "vola" there is the 1807 and it all comes back to you then. What a dork you think you are and wonder if Alzheimer's is rearing it's head...???

You pick up the coin (still in the dealers plastic flip) and something just doesn't look right. You quickly compare the pictures and sure enough a Photo-Shop job has been skillfully applied to the sellers pictures of the coin. Immediately you contact the dealer and hear, in a flabbergasted tone "I'm sorry sir/ma'am the return period has expired." click... You are more than HOT, to say the least.

What should happen and what would you do?

 

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No offense. BUt if there was a return window and you didnt make the dead line then I hate to say it but your sol. I would be ****ed too if someone hung up on me. Personally that would **** me off to the point where multiple phone calls would be made, but then again thats just me.

 

You own the coin. It is not the responsibility of the dealer to allow you extra time due to your inability to examine the coin during the return privilege. The dealer appeared willing to hold up his end of the contract.

I would chalk it up a lesson learned not to be forgetful or too busy to examine an item where there is a time limit on the return. I may ask the dealer for store credit instead of cash back and if I felt the dealer was intentionally trying to screw his customers, I'd buy generic items (proof sets, common slabbed Morgans, bullion, etc) so I'd likely get most my money back upon resale.

 

What now about those who say a dealer should stand behind their coins for a lifetime??? Now that is a long period where someonce can return a coin...

Again, this is a hypothetical situation.

Take Care
Ben

 

They're being unrealistic.

By the way, if the original hypothetical involved an Ebay or other transaction which allows feedback to be posted/displayed, I'd leave negative feedback. I'd do so, not for the lack of a longer return privilege, but for both the image editing (if you are certain about it), as well as the rude behavior.

 

We all get busy in our lives, and to examine every coin we purchase immediately can become tedious. But, if I were to spend several hundred dollars on a coin, I think I'd prioritize it's inspection, especially one I bought sight unseen such as off Ebay. It would seem poor business not to.
Guy~

 

Unrealistic hmmm? So you're saying a reputable dealer doesn't have to or shouldn't have to stand behind the item the sold for a lifetime?

Granted, not in cases where the purchaser has damaged the coin, gotten tired of it, or precious metals plunge in price. Keep in mind this item is still in the dealers individual protective flip.

Take Care
Ben

 

Bone if you are too busy to examine the coins you buy then yiu perhaps should wait till you have more time. this thread coudnt have come at a more appropriate time. i might be going through the same thing. If one coin goes another will come having said that i wouldnt ever do business with a dealer who touches up images

 

If you were sold a coin, that was misrepresented, in print, beyond a doubt and delivered not what you are advertised, does this not consitute fraud. I don't think a two week return period is negates fraud. I would report it. MHO

 

i agree its definitely misrepresentation if not fraud

 

Yes, that's what I'm saying, unless the dealer represented that he would do so. And I say that even though I try to make a two way market in the coins I sell. However, I do that, not because I feel obligated, but because I believe it's a good way to conduct my business.


I feel that there are a number of understandable and perfectly acceptable reasons why a dealer wouldn't want or be able to stand behind his coins for "a lifetime". Curiously, do you expect that of sellers of all other types of collectibles?

 

Interesting insight...

Take Care
Ben

 

if a sothby's or christie's said that i doubt people will blow their millions. Or even for that matter a heritage or a toddywalla but then they are really reputable i dont know if we can say the same for someone who intentionally has altered picture and sold you the coin bone let me know what you come up with. i also have a question for you lets say one reputable dealer sells me a rare gold coin i send it off to pcgs it comes back body bagged as counterfeit or cleaned when the dealer explicitly said it would not is he obliged to take it back and if not can i press charges for willful misrepresentation which equals fraud

 

Spock, this is a hypothetical make-believe scenario...

I'd probably contact the ANA first of all...

Take Care
Ben

 

good idea i knew the ANA membership would pay off. This is hypothetical for you real for me except the time taken isnci coz i was busy but pcgs was

 

I think if the window was blown, you own it. Windows work both ways. I will not put any $$$ into my buy budget untill I know that the transaction is complete, and always have a floating fund for those coins within the window, if in fact a return/refund occurs. Once that window is gone, so are the funds.

As for honoring for "life", I would only say I honor authenticity for life...nothing more. There is a BIG however tho. If a dealer makes a point to only handle " high end" or choice for the grade material that requires searching and true discretion in purchasing, and selling only the "good" stuff, you can bet money that the dealer will always want to rebuy the coins back, as he knows you'll have some good stuff !!

 

very very good point

 

I get it - if you deal with me you d**n well better keep your end of the deal, but I'll be d*****d if I'll let you make me keep my end. Sounds fair to me - NOT!

 

What was that comment in reference to? Thanks.

 

The position expressed by the OP.