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<p>[QUOTE=&quot;NorthKorea, post: 1138545, member: 29643&quot;]I added bolding to the points that I find of key relevence to determining liability. This pulls the context of all of the OP&#039;s claims together at once.</p><p><br /></p><p>1) There were FOUR transactions:</p><p>a) OP bought 20 coins from China.</p><p>b) OP sold 20 Pandas to store.</p><p>c) OP bought 240 coins from China.</p><p>d) OP sold 240 Pandas to store.</p><p><br /></p><p>The key to all of this is representation of the product. It&#039;s what Conder&#039;s assessment relies upon. (Great catch, BTW, Conder!) When the dealer offered to buy all the Pandas (silver bullion issued by the Chinese government) that you could offer at $35 per, the verbal agreement was to purchase Pandas @ $35 per. Note, this isn&#039;t a contract, per se, as it&#039;s open-ended. Upon delivery, the dealer&#039;s covenant to purchase was completed when the dealer purchased 240 <b>Pandas</b> from you at $35 each. If at a later time, it is discovered that the coins you sold weren&#039;t Pandas, you would be obligated to accept them in return. The dealer has an equal obligation to the purchaser of the 70/50 (your numbers change) Pandas. I don&#039;t expect the dealer would have any problem finding this individual, since the customer (ultimate buyer) had reserved an order for 70/50 Pandas. The dealer should therefore have their contact information.</p><p><br /></p><p>The dealer probably shouldn&#039;t have sold the coins (holding period on second hand precious metals laws -- Hawaii&#039;s is 15 days), but that doesn&#039;t remove your responsibility for selling counterfeit coins. While it might suck that you&#039;ll eventually be out $3600/$3900/$6000/$6300/$6500 (depending on which of your various numbers are used: $15/$25, 240/260 coins), the onus of caveat emptor rests solely on you. The dealer has recourse to seek fraud charges against you (and there is no statute of limitations on fraud). Your recourse is to return the money on the coins you sold. Ideally, you would have some way to prove whether the coins you receive back are the ones you sold, but again, that onus is on you. If you&#039;re able to prove at a later date that the dealer returned different coins to you, then the process would be basically reversed, since the fraud would then be transacting in the opposite direction.</p><p><br /></p><p>Regardless of this all, the story seems manufactured. (There, since no one else was willing to say it, I did.) Oh, and as for the used car dealer analogy... at least in Hawaii, we do have lemon laws. So, if someone sells a lemon, there is a certain amount of time during which the buyer can file a grievance and get a refund. As such, it applies in certain jurisdictions.</p><p><br /></p><p>Again, the expert never told you that the 240 you bought were real prior to your purchasing. The &quot;experts&quot; (per your own post) told you that the original batch of 20 were real. Again, that doesn&#039;t even make sense, as I can honestly say that I&#039;ve never seen an acid test done on silver coins. It&#039;s _sometimes_ done on larger silver pieces (art, dishes, trays, bowls, etc), but only when the piece is large enough that the file marks can be done in a place where a future purchaser wouldn&#039;t be absolutely ****ed.</p><p><br /></p><p>That&#039;s another thing that doesn&#039;t make sense... You said the buyer knew the coins came from China. Did you expressly tell them that you were paying below spot in the current market for the coins from China? After all, I know that <i>real</i> Pandas come from China (as do fake ones). They&#039;re Chinese bullion! It&#039;s irrelevant to the final outcome, since the dealer shouldn&#039;t be concerned about the origin of the coins, since you&#039;re in the US and giving assurance that they are actual Chinese Pandas.[/QUOTE]</p><p><br /></p>

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