Is it legal?

It would give a better clue if you could tell us what coin your coworker took to be appraised, since it was found in circulation I would assume it to be a generally circulating coin, zincoln, jefferson, roosie, washie. I do not know what variety of generally circulating coin would go for 850 wholesale, which if the dealer generally offered 20% back of bid price would be a 1000 dollar coin. but most of such coins would be varieites that would not usually be recognized by a non collector, so I am thinking the story might be a testing of the waters.

 

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I know, isn't that amazing? lol - Coin collectors are the righteous right of the hobby world thats for sure.

 

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Btw...I edited an earlier post, but it may not have been noticed. I reread the OP and noticed that the Associate wasn't buying the coin on behalf of the Dealer; the purchase was a private purchase between the Associate and the Seller...an important distinction; takes the Dealer completely out of the discussion.
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Read more: http://www.cointalk.com/newreply.php?do=newreply&p=1101738#ixzz1DooJG4Tl​

the purchase was NOT a private purchace between the store associate and my coworker. The coin store associate offered to buy the coin on BEHALF of the store.

 

Good story, If you buddy really lacks the knowledge and he sold it to a coin dealer that lacks even more knowledge. Well, it sucks to be that coin dealer. Right now he's trying to save his rear. Of course he's going to do what ever it takes to get you back in that store. The exchange was made. It's the dealers fault. His problem now.

Courts wont do anything.

 

hahhaaaa omg that's funny " testing the waters"...hahaha I am not a coin collector or any kind of coin buff.
I just had a question and I googled it and I could not find an answer so I thought maybe a coin site would know and I found this one so I signed up and posted my question. Really there isn't anything more than that.

and I will ask him what coin it was.

 

I can ask my coworker and let you know on monday when he will be in work. I'm pretty sure it was some kind of nickle but I'm not positive.

 

No there is no record of the transaction.

 

Thank you for your answer!

and I finally figure out what OP stands for...yes I am a newbie.

 

Ok, I just read the whole thread. It's funny reading it. At one point, I am thinking, great baited thread, look at all the fishies on the hook! However, the OP uses a term double stamped but doesn't know the denomination of a coin "found" in circulation.

Oh come on!! your friend and the associate or is it, the dealer and I? Are you sure it wasn't your cousin's brothers uncle who knows this guy whose dad collects coins?

Oh yeah....riiiight........ I got nearly a grand for this coin I found!! "oh wow, thats cool. was it a double stamped coin?"

my apologies for being a doubting Thomas, but who runs around going, "I found a double stamped ......." without knowing a fair amount about coin collecting. Take anyone on the street and ask them to name a famous double stamped coin. They will look at you and go "huh"? wha......

furthermore no one is going to run out to a coin shop with a nickel not in this day and age of google..

Given the information by the OP - it is a no brainer. the deal is done, tell your friend to spend the money now!

On the other hand.

I will leave everyone with this thought.

WOuld the deal be done if the co worker has been passing other coins to coin dealers? I say yes. But I think somewhere in all this, the whole counterfeit issue may come up. I don't believe intent of the seller should factor into the fact that a dealer paid too much for a collectible.. yes.... counterfeits are collectible .... JMHO

 

Chris,

You are correct, it is secondhand info But I can say with 100% certainty that my coworker told me the truth as to what happened bc he would be risking his job, his children and his fiance if he was found guilty of counterfit or whatever. He's not an idiot he's not going to risk all he has. And yes all he wanted and was looking for was an appraisal, how do I know you ask, because he told me, he has no reason to lie.

The store can make an offer to buy the coin, they can do whatever but they should in no way have any right to demand the money back after they had already varified the value of the coin. It's like me going back to a store and demanding money back for smthg when they explicity said no refunds. It would be my fault for buying the product and agreeing to no refunds.

 

STOP!!!!! Who doesn't have text in this day and age. okay okay... this is a story you over heard from someone you work with who you don't text or talk to away from work and you were bored so you decided to join and ask the question. got it!

yo comprendo!

 

Wow that's a really immature/smartallick response there. My coworker had the coin. The store bought it from him.
I only know my coworker obviously.

Regarding the coin store, I have never been there I don't know anyone who works there there is no way in any shape or form that I am related to anyone employed there.


and I'm positive that I said in one of my previous replies that """"I THINK its a double stamped coin but I'm NOT POSITIVE""""""

So really I HAVE NO IDEA what kind of coin it was. I can ask my coworker and varify later, ya diig?!

 

Yeah no, I talk to him everyday I work with him and no we are not close and no we do not text each other, we have a working relationship and that's about it bc we only work with each other 2 times a week, every other week.

I didn't "overhear" anything. He was speaking directly to me about it. He asked if he had the legal obligation to give the money back so my first thought was Naw, keep the money the coin store is stupid. I wanted to find out the actuality so I googled it and found coin talk and posted my question, there reaaaaaally isnt anything more to the story.

 

I will ask my coworker and let you know! I should have asked him in the first place but I really didn't care.

 

Oh come on!! your friend and the associate or is it, the dealer and I? Are you sure it wasn't your cousin's brothers uncle who knows this guy whose dad collects coins?



Read more: http://www.cointalk.com/showthread.php?t=155979&pagenumber=#ixzz1Dp05T0Rx​

It seems to me that you like to pick on people...I'm sure it's hard for you being completely perfect in every single way... just sayin...

 

I am not here to debate ethical responsiblity (thats between my coworker and himself)...I want to know my coworker's LEGAL....LET ME STRESS THIS------L E G A L obligation.

 

If there is no paper trail then the transaction never happened......you take it from there.

 

That's true buuuuuuuuut with a correction, there is no evidence that shows the transaction happened excpet my coworkers experience and the coin store's loss of $850 big ones.

 

I just bolded the word 'he' (refering to the coin store associate) because I wanted to make sure everyone understood that the coin store associate was the one who in fact OFFERED to buy the coin from my coworker and that my coworker did NOT offer to sell the coin to the store.




In NO WAY did I mean that the coin store associate wanted to buy the coin from my coworker on behalf of himself.

 

Thats correct. Cases are won and lost by the strength of the evidence. No evidence no case. Now what do you think the legal obligation is in this case?