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I need help for a friend who got scam by a coin shop
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<p>[QUOTE="CamaroDMD, post: 1666537, member: 5233"]Why is it assumed this person is of diminished capacity? The OP stated the person is aged between 60-70. In this age range...many, many people are at full capacity. Both of my parents are in their mid-60s and are fully capable of making an informed decision. This woman is not "elderly" and no evidence has been given to suggest she is of diminished capacity. </p><p><br /></p><p>What is more likely, based on the story is...she was watching the "fear monger" types on TV which convinced her that her cash was worthless and she needed to convert it into something more safe...which they suggest be precious metal. Rather than doing research into how much silver $8000 should bring in based on current prices...she went to a dealer and paid an outrageous price. </p><p><br /></p><p>Now, who is at fault here? I would say both are. The dealer can ask anything he wants for his product...that's capitalism. The consumer's job is to know what the proper price of something is prior to making a large purchase. Was the dealer in the wrong...yes. I'm sure he knew what the current spot value of silver was. I'm also sure that based on the buyers willingness to pay such an outrageous premium he knew that she did not have any knowledge about what she was doing. Therefore, he took advantage of her. That to me is very clear. I'm certain he knowingly took advantage of her...which I believe is morally reprehensible. That being said, I don't believe it's illegal as he has the right to ask any price he wants and she has the right to buy from someone else. That leads me to the buyer...who is also at fault. Had she done a few minutes worth or research...she could have figured out what the spot value of silver was. With that information, she could have been equipped to make an informed decision and not be put into a position to be taken advantage of. IMHO, she allowed herself to be taken advantage of and found someone more than willing to do so.</p><p><br /></p><p>Now, I am not "blaming the victim" here. The dealer was the one who took advantage of her. But, everyone needs to take actions to protect themselves and not doing so puts us at grave risk. She certainly did that.[/QUOTE]</p><p><br /></p>
[QUOTE="CamaroDMD, post: 1666537, member: 5233"]Why is it assumed this person is of diminished capacity? The OP stated the person is aged between 60-70. In this age range...many, many people are at full capacity. Both of my parents are in their mid-60s and are fully capable of making an informed decision. This woman is not "elderly" and no evidence has been given to suggest she is of diminished capacity. What is more likely, based on the story is...she was watching the "fear monger" types on TV which convinced her that her cash was worthless and she needed to convert it into something more safe...which they suggest be precious metal. Rather than doing research into how much silver $8000 should bring in based on current prices...she went to a dealer and paid an outrageous price. Now, who is at fault here? I would say both are. The dealer can ask anything he wants for his product...that's capitalism. The consumer's job is to know what the proper price of something is prior to making a large purchase. Was the dealer in the wrong...yes. I'm sure he knew what the current spot value of silver was. I'm also sure that based on the buyers willingness to pay such an outrageous premium he knew that she did not have any knowledge about what she was doing. Therefore, he took advantage of her. That to me is very clear. I'm certain he knowingly took advantage of her...which I believe is morally reprehensible. That being said, I don't believe it's illegal as he has the right to ask any price he wants and she has the right to buy from someone else. That leads me to the buyer...who is also at fault. Had she done a few minutes worth or research...she could have figured out what the spot value of silver was. With that information, she could have been equipped to make an informed decision and not be put into a position to be taken advantage of. IMHO, she allowed herself to be taken advantage of and found someone more than willing to do so. Now, I am not "blaming the victim" here. The dealer was the one who took advantage of her. But, everyone needs to take actions to protect themselves and not doing so puts us at grave risk. She certainly did that.[/QUOTE]
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