Author Topic: New Coin Deal (Read 1257234 times)

myi · « **Reply #4880 on:** November 12, 2020, 02:42:32 AM »

Quote from: chayal101 on November 12, 2020, 02:35:42 AM

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

Look at the bright side you got him 5k.

While you pocket 5k.

chayal101 · « **Reply #4881 on:** November 12, 2020, 02:44:05 AM »

Quote from: myi on November 12, 2020, 02:42:32 AM

Look at the bright side you got him 5k.

While you pocket 5k.

That's the best case scenario with an almost 50/50 split. That's NOT what BG offers. True?

myi · « **Reply #4882 on:** November 12, 2020, 02:46:00 AM »

Quote from: chayal101 on November 12, 2020, 02:44:05 AM

That's the best case scenario with an almost 50/50 split. That's NOT what BG offers. True?

I Answered to your comment, never meantioned anything about BG.

A BG is a secure investment(usually).

tzifanya54 · « **Reply #4883 on:** November 12, 2020, 09:03:35 AM »

My take here is very simple. This has all already been discussed at great length. If one wants a way out of his commitment, there is plenty of leeway in Halacha to find (a legitimate) way out. Especially in this scenario where BGs are offering a laughable commission compared to the actual value. With that being said there is an ethical mensch side to all this, plus the concept of honoring your word at all costs. Last year I took a significant hit on a few coins with PFS, on one of the deals. I sent it all to them without hesitation (reluctantly obviously because I wanted the higher price, but confident that I was doing the right thing). The reason is simple it has always been a 2 way street, they have never reneged on anything afaik. This years $3000 coin that no one wanted, they took the five I opted in for and paid commissions. They demonstrated that from their end as well a word is a word. That is the key, if they always honor their word on their end by definition our agreement is a much stronger commitment. This applies to any honest group/dealer not just PFS.

When a BG has already demonstrated that they don’t give a damn about you. They will change the price on you if it drops, force you to return at their own discretion, nickel and dime you for every cent etc..... they have already clearly shown the value of their commitment to you. I believe there is no issue in treating them the same way and relying on the various ways to get out of it. Their agreements have zero value in their own eyes as per their actions. /end rant.

myi · « **Reply #4884 on:** November 12, 2020, 10:12:34 AM »

Quote from: tzifanya54 on November 12, 2020, 09:03:35 AM

My take here is very simple. This has all already been discussed at great length. If one wants a way out of his commitment, there is plenty of leeway in Halacha to find (a legitimate) way out. Especially in this scenario where BGs are offering a laughable commission compared to the actual value. With that being said there is an ethical mensch side to all this, plus the concept of honoring your word at all costs. Last year I took a significant hit on a few coins with PFS, on one of the deals. I sent it all to them without hesitation (reluctantly obviously because I wanted the higher price, but confident that I was doing the right thing). The reason is simple it has always been a 2 way street, they have never reneged on anything afaik. This years $3000 coin that no one wanted, they took the five I opted in for and paid commissions. They demonstrated that from their end as well a word is a word. That is the key, if they always honor their word on their end by definition our agreement is a much stronger commitment. This applies to any honest group/dealer not just PFS.

When a BG has already demonstrated that they don’t give a damn about you. They will change the price on you if it drops, force you to return at their own discretion, nickel and dime you for every cent etc..... they have already clearly shown the value of their commitment to you. I believe there is no issue in treating them the same way and relying on the various ways to get out of it. Their agreements have zero value in their own eyes as per their actions. /end rant.

You call me noone!

But in all seriousness yes I agree with you. Well said!

lakewood34 · « **Reply #4885 on:** November 12, 2020, 11:23:06 AM »

ebay went to a managed payments program on their medium to larger sellers a few months ago
basically they process the payments and send it to your bank account as opposed to going through paypal
I heard from multiple people that are on that managed payments program that bullion is a excluded category and they cannot sell coins
(ebay made a exception for coin dealers that they were not required to switch to managed payments because of this)
I wonder if there is some level of artificial scarcity on some of the coins because not everyone can sell them

chayal101 · « **Reply #4886 on:** November 12, 2020, 11:28:10 AM »

Quote from: lakewood34 on November 12, 2020, 11:23:06 AM

ebay went to a managed payments program on their medium to larger sellers a few months ago
basically they process the payments and send it to your bank account as opposed to going through paypal
I heard from multiple people that are on that managed payments program that bullion is a excluded category and they cannot sell coins
(ebay made a exception for coin dealers that they were not required to switch to managed payments because of this)
I wonder if there is some level of artificial scarcity on some of the coins because not everyone can sell them

You're saying the fact that there are only around 30 gold coin listings on ebay when there could potentially be more available? Keep in mind, some of these orders are not even 'In hand' they may just be considered 'shipped' (when they haven't even left the Us Mint)
& there are only 1945 pcs although based on DDF there looks like there's a nice amount circulating... Unless DDFers know best how to get a hold of em!

Lurker · « **Reply #4887 on:** November 12, 2020, 11:34:19 AM »

Quote from: lakewood34 on November 12, 2020, 11:23:06 AM

ebay went to a managed payments program on their medium to larger sellers a few months ago
basically they process the payments and send it to your bank account as opposed to going through paypal
I heard from multiple people that are on that managed payments program that bullion is a excluded category and they cannot sell coins
(ebay made a exception for coin dealers that they were not required to switch to managed payments because of this)
I wonder if there is some level of artificial scarcity on some of the coins because not everyone can sell them

1945 coins. There's a limit to how artificial that scarcity can get.

12HRS · « **Reply #4888 on:** November 12, 2020, 02:26:45 PM »

Quote from: chayal101 on November 12, 2020, 02:35:42 AM

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!

sleazy? $:-\$

1) i committed to him way before anyone knew where this coin would go
2) again, he knows absolutely nothing about it without me

Kobe Bryant · « **Reply #4889 on:** November 12, 2020, 02:31:33 PM »

Quote from: Lurker on November 12, 2020, 11:34:19 AM

1945 coins. There's a limit to how artificial that scarcity can get.

Correct, There is no artificial scarcity. Can’t say that for many of the coins.

chayal101 · « **Reply #4890 on:** November 12, 2020, 02:38:37 PM »

Quote from: 12HRS on November 12, 2020, 02:26:45 PM

sleazy? $:-\$

1) i committed to him way before anyone knew where this coin would go
2) again, he knows absolutely nothing about it without me

I re-read your message. Like i answered @myi earlier upthread- IMHO A fair 50/50 split is mentschlich! 25/75 split of profit doesn't seem right to me, unless you're comfortable using your friend's 'cluelessness' as reason to take 75%, then go ahead!...