Discussion in 'Coin Chat' started by Boxeldercoin, Oct 30, 2012.
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If you’re “helping” them and not yourself, don’t you think you should have determined authenticity for them? If real that coin is worth around $10,000. How much did you pay for it?
I agree with this.
My gut says it's probably genuine, or at least will slab with PCGS.
Yeah, that’s the kind of “help” collectors fear their heirs will get. If bought as a potential fake, I’d guess it sold for around $3.
That is my plan exactly.
You should get the facts before you open your mouth. I took great offense to your post and remember when you assume the facts you look like the first three letters of the word assume.
I sent the coin off to PCGS today.
Best of luck to you , and hope I'm wrong about the MM .
You were bragging about how you would make out big and only said you'd split the profit after my post. Taking half for yourself from a friend seems little sketchy as well. Anyway, I don't wish to question your integrity, so stop attacking me for pointing out the obvious. Some people!
Since you're helping the family, I hope you give them 100% of the proceeds and let the trustee decide what you should receive as a fee.
I've personally only purchased from an estate in two cases. In the first, I bought "everything" for 5% over what the father's local coin shop offered. I found a couple of nice coins and traded what I didn't want for things I wanted. Since I had purchased everything without searching first, I felt it was fair for me to keep what I made. I even discussed this with my friend, and she agreed since she still got more than fair (what the dealer offered) value for her pop's coins.
In the second case, I offered to sell the coins (which I'm assuming is what you did) for the estate. I found three key and 14 semi-key coins. I sold the rest for the appropriate cull/spot+ prices, and then sold off the individual coins. I gave the trustee the full amount, as I felt legally and ethically compelled to do so. I didn't tell the family, as I thought it'd be a nice surprise for the grandkids. When the parents found out what happened, they took me out for a very nice dinner and wine, which I really appreciated.
That all said, when you say you made an offer accounting for the potential of a fake, did you offer $3500? $2200? Did you tell them explicitly that it was potentially a $10k+ coin? Did you also tell them that it would have cost $65 for PCGS to grade and verify authenticity by the SecurePlus method?
That's really the issue for me, with this: You say you're helping them out, but if you merely said "Hey, this coin might be worth a lot more than the others, but it gets faked a lot. I can buy it from you for a discount to account for it maybe being fake. How's $200 sound?" I think you ethically crossed the line.
Well, it's started in this thread. And it stops right now. It is not your place, my place, or anyone else's place to judge what did or did not happen and then start pointing fingers and making claims. All that does is sow the seeds of hate and discontent and cause heated personal arguments. So no, not this time. This time it stops here and now.
By all means discuss the coin being genuine or not all you want. But leave the personal issues out of it.
Cheerio! This is not an ethics forum. Lets Coin Talk!
Well, as an indicator for die #2, I would agree the crack aligns perfectly with known examples. I believe this coin to be 100% genuine.
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