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<p>[QUOTE="NorthKorea, post: 1565640, member: 29643"]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.</p><p><br /></p><p>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.</p><p><br /></p><p>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.</p><p><br /></p><p>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?</p><p><br /></p><p>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.[/QUOTE]</p><p><br /></p>
[QUOTE="NorthKorea, post: 1565640, member: 29643"]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.[/QUOTE]
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