New Coin Deal

[Kobe Bryant]

One buying group didn't act too honest with me either, I bought a palladium coin with them (the one that lost value) , and when they received it they said they can't accept it because it's not the same order number that I had put in.
(I had cancelled and reordered it to change the payment method and forgot to send them the new order number)

Point being they were within their rights perhaps, but still it wasn't so straight and they left me with a 3000 dollar coin that I wasn't even so sure I would be able to return

Had a BG back out on me. Still stuck with a palladium.

[shmebeble]

Reports of the gold being shipped now, check your orders.

where are these reports?

[yossig]

where are these reports?

from ppl that had pending orders

[drosenberg88429]

I agree with you when the upside we're dealing with is some pocket money, not when it's a months salary.

If the coin goes up to $100k How about $1MM, does one have to honor his commitment?

The point is, it comes to a certain point where you got to admit that the commitment is not valid in these extraordinary circumstances.

There's an old story about this...


A guy goes over to a woman in the street. "Would you sleep with me for $5,000,000?" She says "Sure". "How about $10?", asks the man. "Are you nuts? What do you think I am,  a prostitute?" "We already established that you are", answers the man. "Now we're just negotiating the price."



If you give your word, you're buying as a purchasing agent for the group. You don't own the coin, and never did. The price should be irrelevant to you. Keeping it is effectively selling stolen goods, unless you never planned on keeping your word in the first place, in which case you're a dishonorable creature.

[lubaby]

Had a BG back out on me. Still stuck with a palladium.

Why didn’t you just return it to the mint within their return window?

[Mf1]

One buying group didn't act too honest with me either, I bought a palladium coin with them (the one that lost value) , and when they received it they said they can't accept it because it's not the same order number that I had put in.
(I had cancelled and reordered it to change the payment method and forgot to send them the new order number)

Point being they were within their rights perhaps, but still it wasn't so straight and they left me with a 3000 dollar coin that I wasn't even so sure I would be able to return

Should all buying groups be treated the same?

[zale]

If you give your word, you're buying as a purchasing agent for the group. You don't own the coin, and never did. The price should be irrelevant to you. Keeping it is effectively selling stolen goods, unless you never planned on keeping your word in the first place, in which case you're a dishonorable creature.

So theoretically the latter case is better than the former.

In the former you are selling stolen goods, but in the latter you may be a dishonorable creature, but at least you are selling your own coin.

[Pad18]

Why didn’t you just return it to the mint within their return window?

Questions is why the BG don't need to honneur their commitment, and they leave to the guy tge hassle to return it ..

[Lurker]

If you give your word, you're buying as a purchasing agent for the group.

IINM, purchasing agents don't risk their own money, their own credit, or their own relationships with the product source. It's not quite as black and white as you'd like to make it out to be. Additionally, that purchasing agreement isn't so ironclad the other way when a BG decides they don't want to honor the agreement to take the product at the agreed upon price. They'd help their case tremendously by taking that element out of the equation, IMO.

[lubaby]

Questions is why the BG don't need to honneur their commitment, and they leave to the guy tge hassle to return it ..

That’s a great question that’s comes up here all the time.

I’m asking about once that happened already. I’m curious about the timeline.

After the fact that the buying group backed out, was there not enough time to return it within the return window? Fine, it would cost a few dollars for return shipping, but better then being “stuck” with the coin.

If there was no time, then there might be a claim legally / Halachically to hold them accountable for damages.
But if there was time and the buyer decided to not “cut his losses and walk away”, he made that decision knowing he may end up with nothing.

[Lurker]

That’s a great question that’s comes up here all the time.

I’m asking about once that happened already. I’m curious about the timeline.

After the fact that the buying group backed out, was there not enough time to return it within the return window? Fine, it would cost a few dollars for return shipping, but better then being “stuck” with the coin.

If there was no time, then there might be a claim legally / Halachically to hold them accountable for damages.
But if there was time and the buyer decided to not “cut his losses and walk away”, he made that decision knowing he may end up with nothing.

Even if you return it, the refund isn't immediate. There is a cost involved and there is risk involved.

[~King Lake~]

Stop fighting about this nonsense!
If you wanna sell the coin by yourself and had signed an agreement with a BG, then do it! Don't come up here and come up with some reason why you're right, you are wrong for not keeping your word, and if the buying group also did it once, I have 2 answers on that: 1. Two wrong doesn't make one right, 2. why did you even sign again with that BG??

[Aaroncar]

Anyone got refunded from the mint yet for the palladium return?

[Kobe Bryant]

Why didn’t you just return it to the mint within their return window?

In my case it wasn’t possible to return it to the Mint.
I’m pretty familiar with the market and rarely commit to a BG. An exception was the Palladium 20EK (I didn’t commit with 19EK), where I knew there wouldn’t be any upside in the secondary market.

[Aaroncar]

$20,000 https://www.ebay.com/itm/End-of-World-War-II-75th-Anniversary-American-Eagle-Gold-Proof-Coin-MINT-SEALED-/284074549725?_trksid=p2349624.m46890.l49292

It wasn't actually 20,000, seller accepted offer which you can't see, but the one for 15,000 was actually 15

[chayal101]

I really wasn't gonna comment, but I can't control myself... We have had this discussion on this forum over & over again...This is my opinion- I believe it's deceptive for a company to lure someone in to purchasing an item, for a 'nice' profit, without letting them know beforehand that this item can potentially be worth over ten folds more than the purchase price. & when the individual has the item & finds out the 'real' value, they are left open-mouthed, a deep punch in the gut! I'm sorry, how can you NOT feel ripped off?? & the legal commitment you signed makes you feel like a piece of....!! Here are my 2 suggestions for the coin buying companies:
#1- Add to your agreement the specifics about each coin they are signing up for- with the projected value of the coin, so they are 'aware' & understand what they are signing up for!
#2- Be a mentsch with your offer! There should ATLEAST be equal profit for both parties, otherwise it's just rude!
I've never committed to a coin buying company , but I can imagine how ripped off one would feel in such a scenario. For those who are pushing the 'ethical' card, I'm really impressed with you... Just remember, there's a reason you didn't commit this time around, you know exactly how you felt the last time around!!

[chayal101]

& On a positive note!! Like others have reported earlier today, my gold coin order has generated a shipping label!! One step closer B'H!! We shall continue hoping!! Processing NO MORE!! Woooooohoooo!! The US Mint is a Huge Big mess right now. Orders 'shipped' with no updated tracking info., credit card charges dropped... So we won't know forsure until we have it in our own hands!!

[12HRS]

I really wasn't gonna comment, but I can't control myself... We have had this discussion on this forum over & over again...This is my opinion- I believe it's deceptive for a company to lure someone in to purchasing an item, for a 'nice' profit, without letting them know beforehand that this item can potentially be worth over ten folds more than the purchase price. & when the individual has the item & finds out the 'real' value, they are left open-mouthed, a deep punch in the gut! I'm sorry, how can you NOT feel ripped off?? & the legal commitment you signed makes you feel like a piece of....!! Here are my 2 suggestions for the coin buying companies:
#1- Add to your agreement the specifics about each coin they are signing up for- with the projected value of the coin, so they are 'aware' & understand what they are signing up for!
#2- Be a mentsch with your offer! There should ATLEAST be equal profit for both parties, otherwise it's just rude!
I've never committed to a coin buying company , but I can imagine how ripped off one would feel in such a scenario. For those who are pushing the 'ethical' card, I'm really impressed with you... Just remember, there's a reason you didn't commit this time around, you know exactly how you felt the last time around!!

I told a friend of mine to try and get the coin and that he would make a few $k if he did, without me he knows absolutely nothing about the coin deal and doesn't get it. should he not sell it to me now?

[myi]

I told a friend of mine to try and get the coin and that he would make a few $k if he did, without me he knows absolutely nothing about the coin deal and doesn't get it. should he not sell it to me now?

You do your research you take the cash, you don't and you're lazy, so you settle with the buying group.

[chayal101]

I told a friend of mine to try and get the coin and that he would make a few $k if he did, without me he knows absolutely nothing about the coin deal and doesn't get it. should he not sell it to me now?

Rest assured, if he finds out you made 10x profit using him & offered him such a sleezy deal, he won't want to be your friend any longer!