1964 Cook Islands Morgan Dollar

ANA requires its members to conduct themselves numismatically in an ethical manner.

 

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I'm . for you. for what I did. over that. Some of them are NOT ethical. bye, bye for now.

 

requires...that a laugh. I guess ANA stays on top of ALL its members. I'm everywhere!!

 

Give me a break! First of all I already stated that I didn't misrepresent anything so therefore I am conducting myself in an ethical manner. The photos and description are clearly stated/shown and tell/show buyers exactly what they are getting. If the buyer gets excited and doesn't pay close attention to what it is they are buying then how does that make me unethical? Yes I'm an ANA member.

 

No, but they can terminate your membership is there is an issue comes to light. one incident may not cause that but repeated ones could. That is why there are sellers who publish their ANA membership number in their auctions. it is a guarantee of ethical behavior because problems can easily be reported.

 

Now you did it, you’re going to be accused of being unethical now. I hope you’re proud of yourself.

 

These situations are hard. It's easy to sit there with a keyboard and judge someone else's actions in black and white with some of your own opinion mixed in. So, here's my take on it...trying to be as impartial as I can be.

These coins are produced by a mint in a small island country specifically for the purpose of export and sale (not unlike our own commemorative coins). The difference however is they are made from materials that are basically worthless. They are marketed in such a way not as to lie...but as to highlight the parts of the coin that sound valuable. These kinds of items usually say something like "clad so many mgs of .999 silver." Most people have no idea what that actually means. If they were sold as "silver plated" then most would know...but most people don't know what "clad" means.

Now, is this deceptive marketing or is it a case of "a fool and his money will soon be parted?" The answer to that is yes. Is it unethical...I don't know. On one hand...nothing in the ad is untrue but on the other it's written in a way to not highlight that these coins are not silver (how's that for a double negative). I don't know if this is unethical...but I wouldn't call it honest. I certainly wouldn't want my loved ones to buy one.

So...is using the same wording to resell these coins unethical? Is it honest? I honestly don't know for sure, but it gives me a bad feeling.

That said...to those who feel the need to crucify the OP for this. Can you honestly say you have never done something that walks the line of being unethical? I have been a member of this forum for a long time and many things have changed in that period. But one thing that never has is the ethics police love to come out in force and attack someone. I often wonder how many of them are without sin.

That's just my two cents.

 

I understand where you are coming from, but this statement isn’t as strong as it sounds. Yes the ANA has a list of standards and it really wants people to follow them, but it is not something that is often enforced. There have been quite a few instances of ANA members being quite unethical and many are still part of the club.

And let’s not forget the Gold Kennedy fiasco of 2014. It was an ANA show with many ANA dealers.

 

As for the OP, this might be walking a thin line. All the info was provided to cover what is being sold, but it might have been better to use a simpler description.

If one wants to be safe, say it is a Cook Islands Commemorative that is silver plated (with very little silver content and no relation to the US Mint). And leave it at that.

 

Lol...I knew this post was coming before you even posted it. Dan’s got some great marketing staff!

 

No marketing. Just the facts ma'am!

 

ANA does not want to terminate the membership numbers because they need the members AND THEIR FEES.

"For the love of money is the root of all evil:" I Tim. 6:10 KJV

 

That is quite likely part of the problem.

 

No its not, not even close.

 

By the way, where are the Carr 1964 Morgan’s selling for over $300? There are plenty on eBay as bins for $175-$195 and sold listings in the $150s.

Based on the issue prices of the Carr pieces and eBay fees, the OP is making more off the Cook Islands version than many are making off the Carr pieces.

 

Right, just a practical application of the "Greater Fool" theory.

 

The few I've sold were graded, one DP 1 & one DP2 early on to recoup some costs and one of the clashed dies recently at Long Beach. Each sold for between $250-300. The rest I will be keeping long term.

 

You sold at the right time. Both of those are up on eBay now in Anacs MS 69 for around $250 or best offer (or one listing for both at $464). These might go the way of the Peace Dollar and eventually sell for more or we may have already seen the peak. I guess time will tell what happens.

 

Awhile back I bought 3 of these on eBay for $150.00.

After I received the purchase my wife did a little research and found out that they were mostly copper because she is always trying to make me out to be an 'eBay idiot'. She kept throwing that up in my face every time we had an argument over who's turn it was to change the twins. I grew resentful that she kept harping on this - to the point that within two weeks I was sitting in the lawyer's office signing divorce papers.

So the lawyer asks me what caused the divorce and I told him that my wife was upset that I purchased three coins on eBay. He said something about being new to hobby himself and he wanted to know more details about the purchase. There was a moment of silence where I noticed his Cartier watch, his Mercedes keys in brass dish under a brass lamp, the Mahogany desk. You get the picture.

I took a deep breath and said that I'd purchased three highly desirable coins for $2700.00 and that while they'd appreciated in value to about $3600.00 I had not choice but to let them go for about $1000 each in order to cover the cost of my divorce. He cut me a check that afternoon.

Overall, my most profitable flip to date.
I wish I knew who sold me those coins in the first place.
I'd like to thank him in person.

 

So you sold this lawyer 3 of these silver plated copper morgans for $1k each?