Ethical Question about Buying/Selling

My feeling too....ya know what Shatzy? If you didn't buy this set that guy was probably going to break the coins out and head over to Burger King. I think you did a great service in purchasing this set. At least it will be preserved instead of going for the purchase of a whopper. We all know where that winds up in the end.... pun intended.

 

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Picture was indeed horrible and looking at his other auctions he is a "no return policy" guy.

I'd say it's a good score unless you plan to do frequent business with the guy. He overlooked a major error. If the coins had been garbage you'd be stuck with them after all.

Years ago I used to trade Kennedy halves with a guy out east. He had Ps and I had Ds. One day he needed a roll of common Ds so I said no problem let's do a trade. He offered me a roll of 86P not knowing what they were worth.
I told him because we had done a fair amount of business. He thanked me and went through with the trade because he appreciated the honesty.

Yours is a different scenario altogether. He offers no refunds so why should you point out HIS mistake?

Yep. Nice score!

 

Pic,s are to fuzzy!

 

Your knowledge gave you an advantage, and besides, who would appreciate this error more than you? It was simply your turn to get lucky. Enjoy it!

 

Congrats! Jamie! You didn't cheat, scam or swindle any one out of any set. If you could make out that, that set was no "s" dime then kudos to you my friend. Aint no shame in knowing your stuff and reaping the rewards. If you are feeling guilty in any way, I will pay you double and gladly take that set off your hands.

 

Do not tell the seller anything. It can only cause the seller heartache or you a problem.

I am not certain why you ask the question of whether your actions were right or wrong. In this context the question can only be answered by a philosopher, or more likely debated endlessly by two philosophers. Because you ask the question, my two cents (1865) would say that what you did was not wrong, not in the least bit. But it does not follow that what you did do was right, at least to the extent that your actions were not noble or virtuous. You acted out of self interest. Self interest--for good or bad--is what makes capitalism work.

I just wish I had been smart enough to catch it and buy it myself.

 

that is the only way to make money in this bussiness

 

Good for you, you got something extra. You do not have to tell the seller anything at all. You paid money for the proof set and for whatever reason there's an error in it. don't worry about it, you were kind enough to ask him if he sold you the right set and the case is closed.

Enjoy your error and make some money off it if you can. I don't mean to sound corny or anything but I look at instances like that as a God thing. no pun intended as I am serious

 

No S dime!!! Wow

Schatzy bud, do you carry around a four-leaf clover or something?

Keep this with a clear conscience. If the buyer paid a premium for it and accidentally sent you the wrong one, it would be a different story. But he probably bought it back in 83 from the mint and he already confirmed you have the correct item. You're both happy with the transaction; the only difference being is that you're MUCH happier

-LTB

 

ok, folks. I think that a lot of you are missing an important point here.

Schatzy bought the set because it's an 83 Silver proof Set. It just happens that when he received it, that he noticed it contained a no-S dime.

He didn't buy the set knowing anything about the error, he just got that particular set sent to him. The question he asks is whether or not it is ethical to just keep the set and not further compensate the seller.

my opinion

I think that the overwhelming opinion here is that if you were buying it from an old lady who didn't know anything, then you might want to inform her. You didn't buy it from an old lady, though. You bought it from a dealer who offered it for sale in an auction venue. he offers no returns whatsoever so my personal thought there is if he won't fix your mistakes, then you shouldn't fix his.

 

Seemingly Obvious Answer

I lack for an understanding of the "Ethical Question". The seller sold in good faith, that which was previously acquired, supplying visual confirmation of article condition. The buyer realized, by stated admission, what was to be delivered, and consummated a contract to acquire offered item. Quid Pro Quo conditions being met, both parties receiving that which was negotiated. Seemingly, there shouldn't be future negotiation.

 

congratulations, nice cherrypick.


in other words, have fun and keep it.

 

This is a tough question which can only be answered by the buyer. Where does one draw the line between Ethical and Unethical. A seller walks into a local coin dealer to sell a bunch of coins. The dealer examines the coins and notices a Error coin, one individual piece. Now they know the coin is worth X amount of dollars say for argument sake $150. Should he tell this seller about it or offer a fair price including the value of the error coin? Should he withhold that information from the seller and submit an offer which is without a true value included of the error coin? Would anyone want to do business with a dealer such as this ? If you agree there is no ethical responsibility to be laid upon the dealer where do ethics apply ?

For me I have no questions as to how I would approach this situation, given the aspect of having this knowledge of the error and it's value from the buyers perspective. But here this situation is further complicated as it was listed in an open auction, which implies a significant responsibility upon the seller to determine an acceptable value for the item being sold, as with any Auction. Once the hammer falls, the buyer owes the seller no further consideration. That is simply business. I hope this helps some.

 

It's interesting to note this dilemma has been around since at least the Roman times and is handed down to us as Caveat Vendor (let the seller or vendor beware) and Caveat Emptor (let the buyer beware) as ethical options for commerce.

Let me turn this around for you. Would it be fair to YOU for the seller to benefit financially from YOUR knowledge? He obviously didn't acquire it as an error or he would have sold it as such. If you don't expect to pay for other people's knowledge, we would have no Doctors, Lawyers or teachers.

Just like them, you have been rewarded for your time and efforts to increase your knowledge.

Now if he'd asked you to help him determine the value and you agreed, then you would have an obligation to share this information with him. At least, that is my opinion.

 

I'm confused, in the OP he says
"Based on the sellers picture I could tell there are a error inside the proof set."

So he did notice an error (how the heck he did with that picture I'll never know...)

Either way, it's an auction, if someone else had noticed it too then the auction would have gone sky high and been great for the seller. As it was the picture was too bad for anyone to notice, seller should have had a clearer pic.

 

For some of us, there is an ethical question well beyond contract law which only determines what is legal and has little, if any, correlation to right and wrong. It is a matter of just enrichment or unjust enrichment which is morally based and we have many different concepts there.

I believe he has been ethical, but it's nice to see someone as concerned with the ethics of the transaction as his good fortune.

 

you are clear. right place right time is not cherry picking nor is it duping someone based on those photos.

 

Sorry I meant I couldn't

 

And this such situation would be understood anytime a seller goes into a dealers establishment. IMHO

 

In the coin buisness (like any other retail buisness) you should know exactly what you are selling. If you don't someone who has done their homework is going to come along and correct your mistakes... whether you know it or not.

I have dealers who come through the shop from time to time who I know are very very smart specialized dealers. I don't want to drop names but lets say they are published authors of reference books on certian types of US coins. It might sound strange but I don't want to sell them coins sometimes... In my mind it means that I have missed something that he knows about and I don't. I have even read this persons published work and am familiar with it. But I just smile and make the sale and let him make his money. It's just how it's done...

It's my responsibility to myself to cherrypick my own stuff... or someone is going to do it for me.

Knowledge is power.