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<p>[QUOTE="Kirkuleez, post: 1434800, member: 36864"]I hate to say it, but it is up to the buyer to do their homework before buying a coin. How can you fault a dealer for asking too much money for a coin? Just don't buy it. I understand that it is wrong for dealers to participate in fraudulent practices like cleaning or otherwise altering a coin without stating that the coin has issues. But just asking too much for a coin is perfectly ethical.</p><p><br /></p><p>Recently, on this forum, a well respected dealer bought some coins that just about everyone graded way below what NGC eventually graded them. I have no idea what the dealer paid for the coins, but I am sure he was pleasantly surprised with the grades that NGC gave him. And yet a member said that it would be the ethical thing for him to pay the seller for the grades that he received. Coin dealing is a business like any other, he has to grade on what he sees, he has to determine if the coins are authentic, he has to take the risk. Why is he not entitled to make a profit? </p><p><br /></p><p>It is all too easy to call a dealer unethical, but it is really up to the buyer to learn about what he is buying. How many new collectors are really spending 10K on a Morgan dollar anyway?[/QUOTE]</p><p><br /></p>
[QUOTE="Kirkuleez, post: 1434800, member: 36864"]I hate to say it, but it is up to the buyer to do their homework before buying a coin. How can you fault a dealer for asking too much money for a coin? Just don't buy it. I understand that it is wrong for dealers to participate in fraudulent practices like cleaning or otherwise altering a coin without stating that the coin has issues. But just asking too much for a coin is perfectly ethical. Recently, on this forum, a well respected dealer bought some coins that just about everyone graded way below what NGC eventually graded them. I have no idea what the dealer paid for the coins, but I am sure he was pleasantly surprised with the grades that NGC gave him. And yet a member said that it would be the ethical thing for him to pay the seller for the grades that he received. Coin dealing is a business like any other, he has to grade on what he sees, he has to determine if the coins are authentic, he has to take the risk. Why is he not entitled to make a profit? It is all too easy to call a dealer unethical, but it is really up to the buyer to learn about what he is buying. How many new collectors are really spending 10K on a Morgan dollar anyway?[/QUOTE]
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