Take a look at my penny :)

Coins have been modified to be used on key chains, jewelry, ashtrays, and all sorts of novelties for years. I haven't heard of anyone being sent to jail for any of this.

 

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Ok, No jail term required But now the person knows that it is not worth $ 600, but $ 0.02 then is this not cheating ? Hmm, my heart and church says that it is Cheating. Its like selling a stock of a bankrupt company for Million dollars. Done with this post

 

Unethical? Yes. Illegal? No. If he sells it knowing it's worthless, it speaks volumes of his integrity.

 

I was gonna say the same thing.

 

PMD, very simple, worth 1 cent.

I could not sell this coin for $600 in good conscience..that's just me.

 

If you are offered $600 and accept. If you ASK for $600 that would be cheating but not to accept what someone offers you. It might be a little questionable ethically, and your conscience might bother some people but it is not cheating. Actually even ask the $600 wouldn't be cheating because you can ask whatever you want for something you own. Now knowing something is worth one amount and telling someone else it is WORTH a lot more would be "cheating".

 

I figure it is worth one cent. Coin was damaged out side the mint

 

So if i offered you $10m for your car, would you turn me down?

I personally wouldn't sell a coin like this to someone i know, but if i put something up on ebay and it sold for several times its value i would do a dance, not email the buyer saying they paid to much and offering them a refund. The OP hasn't conned someone into making an offer from what has been said.

 

Buyer has penny with damage on it, seller gets offer for penny. Seller then comes to CT to find more about his penny, finds out it's worthless and says he's gonna take the offer made knowing it's 3000000% markup from it's actual worth. I still call these people scumbags, when you know the value or worth but still prey on people. Now if he told the person it's not worth that much but the person still wanted to pay that much, then by all means, let them be stupid in paying 3000000% more than it's worth.

 

But say you had this coin, would you post in your auction that it's post mint damage or not? Would you just not mention it to try and fool potential buyers? That's where the problem lies I think, if the seller isn't telling the full honest truth if they know something.

If you offered me 10 million for my car and it had some mechanical errors but you didn't ask, well I'd probably tell you you're crazy for wanting to buy a car with problems for that much. If you knew the truth behind the car and still offered 10 million, well, I couldn't be considered a scumbag and you'd be one ignorant buyer.

 

Misrepresenting the coin is fraud and obviously dishonest. But do we know how the neighbor was presented with any facts?

 

It must be nice to have a nice sized disposable income. He probably thinks Littleton and Coin Vault TV are bargains.