Discussion in 'Coin Roll Hunting' started by Steamandlight, Jun 29, 2016.
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Normally I'd say you cheated someone (and you kinda did) but the fact that they didn't know what they were doing, and probably just took their inherited coin jar to a Coinstar without actually looking into it - well... Jeez, I guess I'd have done the same.
It is infinitely worse and due to the fact that those who choose to sell to cash for gold establishments at least understand they're selling something worthy of above-face premiums. Here, and regardless of the OP's claims, it's perfectly clear this person's understanding of what they truly had was nonexistent.
Coins get spent. Collectible comics get burned. Classic art gets piled at the curb. Sterling silver gets put out in the "everything's a quarter" box at yard sales. If you at least try to warn people about what they're discarding, I think you're on solid moral and ethical ground.
I refuse to berate someone for their good fortune, even if it comes at the expense of someone else's willful ignorance and indifference. (Note the word "willful"; you should at least try to clue them in. I have no reason to doubt the OP's word that he did so.)
I find it beyond despicable that it's being played off as if this individual, supposedly knowing full well their coins were worth substantially more, was "happy" to simply hand then over to "avoid" a coinstar fee; give me a break. Yes, I was born at night, but not last night, and in the nearly 25 years I was actively involved in this hobby, not once... not ONCE did I ever come across someone "happy" to knowingly take pennies on the dollar, especially for something so easily liquidated. One need neckboots to wade through this BS.
No wonder why this hobby has such a poor reputation among the general public, and coin dealers/buyer are often looked upon as equals to a used car salesman. This sad individual jacks someone, not for just a pile of junk but was clearly, at one time or another, someone's collection, and most of the board, populated by collectors, not only pats him on the back, but buy into the BS story hook, line, and sinker. Great job, fellas... and one can only hope that someday, someone pays it forward to each and every one of you who think such conduct is perfectly acceptable. Perhaps when it's your own family getting screwed, you'll feel differently.
You really should use both hands to hang firmly onto your saddle, lest you fall off that high, high horse.
I'm glad that your parents never threw away your collectable comics or sports cards.
I'm glad your kids never used your antique glass insulators for target practice.
And I'm certainly glad that you've never, ever cherry-picked something desirable from a dealer's junk bin, or won an auction lot at a low price because none of the other bidders saw the valuable item you spotted, or bought a rare circulated coin without then immediately setting out to track down the last person who spent it.
Our hobby is built on items that were once, and perhaps for most of their existence, traded at face value (unless you're exclusively a collector of modern made-for-collectors special issues). Yes, it's unethical to try to convince someone that their collection is only worth face value. If you tell them it's worth more, and they say they don't care, you've done your ethical duty; as a collector, your next duty is to see that the coins are preserved, rather than letting them be spent or melted.
I have no reason to disbelieve your claim that you've never met someone willing to let good coins go for pennies on the dollar. Based on the things I've found in teller trays, CoinStar reject slots, and self-checkout machines, though, I have to say that your 25-year run has been a bit unusual.
Or even worse, going to Coin Star where they would have gotten 10% less than face value.
Hey did anyone ever think that Coinstar could be a good dumping spot for thieves and burglars.
Cash with no questions asked from a LCS or pawnshop.
How about common sense? Is that enough reason for you?
I also don't recall anyone using the word "fraud", Jeff, but will say that if you actually believe this dude's story, you're a fool...
It's not outside the realm of possibility, I'll admit.
I tend to agree. I have seen it many times with my own eyes, and not just with coins. My dad used to say that one man's garbage, is another man's treasure, and vice-versa. Some people don't ascribe the same value to an item that you or I might.
I am very jealous of OP, having experienced similar good luck personally in the past (just not to such an awesome level.)
Teller trays, cherrypicking, buying at auction on the cheap, blah, blah blah... all fine and dandy, but that's NOT what we're talking about here and you know this. Come on, Jeff... do you HONESTLY believe the OP told this individual that they, with minimal effort, could pull down TEN TIMES or more what he was able to pay, and they turned him down, just grateful to see them go to a collector (who is going to sell them anyway.. let's be real here) and happy they didn't have to pay coinstar fees? Come on, man; you're smarter than this... I don't doubt the OP may have told this individual the coins and notes were worth more, but he sure as hell wasn't straight with them regarding even low, low, low-end wholesale value, even just for the metal alone. Do you truly find such conduct to not only be "ethical", but worthy of congratulations?
What the OP is claiming is akin to someone buying a new car, being offered $1000 trade from the dealer and accepting it because of a single free oil change even though that same dealer told them if they just go down the street, they can buy the very same new car and be given $10,000 or more trade in. This wouldn't happen and no one could reasonably expect it to, so why is it so hard to see the obvious with what's really going on here? I'm sorry, but I just don't get why otherwise highly intelligent people will so readily buy into such ridiculousness.
Again, this isn't fair play picking, finding coins in a reject slot, or any of the other fair game examples you've provided. This is the straight and obvious taking advantage of someone, who very well may have been in a desperate financial bind, in order to pads one's own pockets. We are supposed to believe this individual was grateful to be saved, what, 9% give/take in coinstar fees, yet couldn't care less about leaving thousands of dollars on the table. Yeah... "thanks for saving me $40, so here... have $4000, maybe $5000 for your trouble"? Let's also not forget that many who use coinstar don't have access to banks, so it's not outside the realm of possibility that this person wasn't there by choice, but by necessity. It's despicable and nothing more than another well-deserved black eye upon this hobby. What you call a "high horse" I call simple decency. Tomayto, tomahto it is not.
Here is further detail, which is honestly none of your business, but may stop this silly conversation here. As I previously stated, I spoke with this person for quite some time. Do the math yourself... it took quite a while to count over $350 face value by hand. We hung out and talked. They were literally just dumping the coins to get rid of them, and did not care about the extra value. They had inherited them from a grandparent who had died years ago, and the coins were just sitting at the persons home in a closet. The coinstar was convenient, as the person lived almost next door to the grocery, thus they took them there rather than the bank. When I saw a few silver dollars on top in their change bucket, I politely asked if I could take a look and buy a few of their coins, since I collect coins and saw a few that I could use. They showed me a bucket with lots of silver, and told me their grandparent had collected coins, but they were uninterested, personally. I told them I would be interested in buying all of it. We walked over to their place, and spent a while talking as I sorted and counted. We spoke of collecting things, and they told me how they collect rare books. They actually showed me a few fascinating pieces from their book collection, like a first edition of one of my favorite books, and their oldest book, a book printed in the 1600s (I took pictures, it was really cool). When I finished counting and sorting, I told them I would like to take it all, but it was worth far more than I had on me ($400). I asked if I could buy some then, and more later if they would hold it for me. The total face was exactly $386.41 (including the paper money they had brought out while we were talking). They told me I could just have it for the $400. I asked if they were sure, and they assured me it was fine, they did not care.
At no point did I get any vibe they had stolen the collection, to reply to something someone mentioned here. They live in a gorgeous 3 story house (including the downstairs library), in an affluent part of town. Somehow I doubt they were desperate for finances lol.
This was simply luck, and I'm grateful to have been in the right place,at the right time, and met a nice, friendly person who did me a huge favor. Which, believe me, I profusely thanked them for. We connected over the fact that we were both collectors, although of different things. I may or may not make them a further offer, later on, for the first edition Heinlein they showed me. I want it, but they may be unwilling to part with it.
Anyways, after I got home, I started sorting dates, and bagging things . I was in such a good mood, I wanted to share (and brag a little) with other collectors. Since none of my real life friends collect coins, I hopped on here. End of story.
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