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<p>[QUOTE="medoraman, post: 1023781, member: 26302"]Normally I always say caveat emptor. But, if this person was new to coin collecting and demonstrates that the prices charge to him were 50% above others selling prices, I would be PO'ed too, and would ask to return them. This is not an issue of buying a coin from Littleton for $10 that other dealers have in stock for $5. I would say the same about a person buying massive amounts from Littleton as well. A $140,000 purchase from them, (I think Littleton is a fine company and advertise a lot for our community, so this isn't an anti-anyone thread), would be out of line if purchased at list prices and I would support that buyer asking for a refund as well.</p><p><br /></p><p>To me $140,000 is not a retail purchase, it is an investment. If someone sells you $140,000 of Walmart stock telling you its value is $140,000, but you turn around and find out it lists on Wall Street for $85,000, then that is security fraud. You cannot lie about the value of a security, it is fraud. I would characterize a $140,000 purchase of gold as a security transaction, that is why I feel differently about this than most coin purchases. For normal purchase, buyer beware.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1023781, member: 26302"]Normally I always say caveat emptor. But, if this person was new to coin collecting and demonstrates that the prices charge to him were 50% above others selling prices, I would be PO'ed too, and would ask to return them. This is not an issue of buying a coin from Littleton for $10 that other dealers have in stock for $5. I would say the same about a person buying massive amounts from Littleton as well. A $140,000 purchase from them, (I think Littleton is a fine company and advertise a lot for our community, so this isn't an anti-anyone thread), would be out of line if purchased at list prices and I would support that buyer asking for a refund as well. To me $140,000 is not a retail purchase, it is an investment. If someone sells you $140,000 of Walmart stock telling you its value is $140,000, but you turn around and find out it lists on Wall Street for $85,000, then that is security fraud. You cannot lie about the value of a security, it is fraud. I would characterize a $140,000 purchase of gold as a security transaction, that is why I feel differently about this than most coin purchases. For normal purchase, buyer beware. Chris[/QUOTE]
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