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What's the ethical thing to do?
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<p>[QUOTE="yakpoo, post: 1712308, member: 18157"]All excellent questions, but they're a bit divergent from the question posed by the OP. I would say that, in a face-to-face deal, both parties should divulge all information they know (or suspect) about the coin...in advance. Once the deal is concluded, that's it.</p><p><br /></p><p>Remember, this is a question of "ethics", not law. If you wander into a flea market and see a $500 VAM in the junk silver pile, how you decide to proceed is entirely a personal matter. The same is true with online auctions, sniping, etc...if you can live with your decision and you're not breaking any laws...there's nothing that says you shouldn't.</p><p><br /></p><p>The OP's question was about selling a collection to a trusted Dealer. If I were that Dealer, I would feel obligated to inform the Seller (who probably knows much less about Numismatics than I) that the coin was improperly slabbed. If I didn't discover the slab error until after deal was complete, I would feel my "ethical" duty was complete. </p><p><br /></p><p>However, should I go a step further and reopen negotiations with the new information once it's discovered? ...I would like to think I would. If I'm running a reputable business and expect my clients to trust me, I would want to be worthy of that trust.[/QUOTE]</p><p><br /></p>
[QUOTE="yakpoo, post: 1712308, member: 18157"]All excellent questions, but they're a bit divergent from the question posed by the OP. I would say that, in a face-to-face deal, both parties should divulge all information they know (or suspect) about the coin...in advance. Once the deal is concluded, that's it. Remember, this is a question of "ethics", not law. If you wander into a flea market and see a $500 VAM in the junk silver pile, how you decide to proceed is entirely a personal matter. The same is true with online auctions, sniping, etc...if you can live with your decision and you're not breaking any laws...there's nothing that says you shouldn't. The OP's question was about selling a collection to a trusted Dealer. If I were that Dealer, I would feel obligated to inform the Seller (who probably knows much less about Numismatics than I) that the coin was improperly slabbed. If I didn't discover the slab error until after deal was complete, I would feel my "ethical" duty was complete. However, should I go a step further and reopen negotiations with the new information once it's discovered? ...I would like to think I would. If I'm running a reputable business and expect my clients to trust me, I would want to be worthy of that trust.[/QUOTE]
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