Living in a Radically Transparent world is, it seems, not without risk. Apparently a Seattle man was recently sued for $10,000 because he left a “Neutral” rating for an eBay seller from North Carolina.

Sued! For $10k for using a system that eBay implemented to encourage feedback!!!

Shellhorn bought some Morgan silver dollars from a man in North Carolina. The price was fair, but Shellhorn says the coins were packed poorly. “The coins were hanging out of the envelope, loose, with no packing whatsoever around them,” he said.

The seller wanted feedback. Shellhorn couldn’t honestly say the deal was good or bad so he took the middle ground. “This is neutral feedback, not even negative feedback, but neutral. He sued me for $10,000,” he said.

The judge in Buncome County, NC did dismiss the law suit, but it still raises a serious question about the future of consumer feedback, if the consumer is fearful of leaving any feedback at all.

It’s amazing that someone would sue an individual for one “neutral” rating, but that goes to show just how important ratings are on eBay. It’s also scary that an attorney was willing to take on the case. What if the judge hadn’t shown any common sense? What if the court had ruled in favor of the plaintiff?

It may not have happened this time, but you can bet that this case will inspire someone to think they can remove legitimate negative (neutral?) customer feedback by taking them to court. And it will be a scary time for all, should a naive judge rule in favor of the company.

IRVINE, Calif. – Bowers and Merena, realized an impressive $5.9 million with its 1,000-lot Chicago Rarities Sale. The auction was conducted in a single session on April 15, 2008, with Internet bidding taking place prior to the sale through the Bowers and Merena website, www.bowersandmerena.com.

“We are very pleased with the excellent results achieved by this sale,” stated Bowers and Merena president Steve Deeds. “It is an honor for us to be trusted with the sale of such important numismatic rarities in a dynamic market. My heartfelt thanks goes out to all of our consignors without whose support we could not maintain Bowers and Merena’s position as America’s preeminent numismatic auctioneer. And, of course, I cannot forget our loyal bidders—you also have my sincerest thanks for contributing to another successful Bowers and Merena Rarities Sale. May you cherish and enjoy your recent acquisitions for years to come.”

An impressive selection of Buffalo Nickel rarities led the way in prices realized for this sale. The exceedingly rare 1916 Doubled Die Obverse in NGC MS-64 (lot 196) sold for $276,000; a condition rarity 1918-S certified MS-66 by NGC (lot 205) traded hands for $125,350; the probable finest-known 1926-S in NGC MS-66 * (lot 218) realized a record price of $322,000; and an equally important 1927-S that is also graded NGC MS-66 * (lot 219) crossed the auction block at $125,350.

The Marquette-Yakima Registry Set of Washington Quarters—the #1 set on the NGC Registry—also resulted in significant prices realized. The highlight of the set is definitely the 1932-D in PCGS MS-66 offered as lot 322. A pop 1/0 coin, this beautifully toned Gem brought $143,750—the highest price ever paid for an example of this key-date issue. Other top-of-the-pop rarities from this Registry Set include a 1943-S in PCGS MS-68 (lot 360) that traded for $23,000; a very pretty 1954-S in the same grade (lot 393) that brought $10,350; and a unique 1961-D graded MS-67 at PCGS (lot 403) whose realized price is $18,975.

Additional highlights from the Chicago Rarities Sale include:

* Lot 529, 1870 Seated Dollar NGC Proof-67 * Cameo, realized $60,375
* Lot 567, 1884-S Morgan Dollar NGC MS-64, realized $105,800
* Lot 602, 1895 Morgan Dollar NGC Proof-66 Cameo, realized $86,250
* Lot 711, 1851 Augustus Humbert $50 Gold, Reeded Edge, 880 THOUS, NGC MS-62, realized $149,500
* Lot 774, 1910 Indian Quarter Eagle NGC Proof-67, realized $57,500
* Lot 981, 1920-S Saint-Gaudens Double Eagle PCGS MS-62, realized $69,000 (more…)

Hobby Friendly Legislation Supported by ANA and Whitman

Maryland Gov. Martin O’Malley today signed legislation that will exempt coin dealers from the requirement to obtain a Maryland trader’s license for the American Numismatic Association’s World’s Fair of Money® in Baltimore, July 30-Aug. 3.

Whitman Publishing, LLC, along with the ANA and the Industry Council for Tangible Assets, worked together to successfully lobby to change Maryland’s trader’s license law. The resulting legislation removes burdens that numismatic dealers would have otherwise faced this year if they had participated in more than three coin shows in Maryland within a 365-day period. With four major coin shows planned in Baltimore this year (three by Whitman Baltimore Coin and Collectibles Conventions plus the ANA World’s Fair of Money), dealers would have had to apply for a state trader’s license that would have created ongoing regulatory and taxation burdens. With the new legislation, that requirement now excludes the 2008 Baltimore World’s Fair of Money as it is promoted by the ANA, a non-profit national organization.

“This is a landmark effort on behalf of the hobby and will greatly benefit dealers and collectors at this year’s World’s Fair of Money as well as at Whitman shows,” said ANA President Barry Stuppler. “I thank Whitman Publishing, ICTA and ANA Government Affairs Committee Co-Chairs Mark Olanoff and Diane Piret, who worked tirelessly to ensure that this legislation passed. I think this speaks volumes about what the numismatic community can accomplish when we work together.”

Without the legislation, dealers would have been faced with a dilemma: skip one or more of the Whitman Baltimore shows or not take a table at the World’s Fair of Money. Had they set up shop at all four shows, they would have faced complex tax and regulatory burdens. Ultimately, fewer dealers would have elected to set up at all four shows, giving collectors fewer choices and, possibly, causing the ANA to lose significant revenue from its largest annual show. (more…)

By Brian Kamsoke Contributing Writer for the Daily Star

The first U.S. coin was struck in 1792 when President George Washington, Thomas Jefferson and others met in Philadelphia. The coin was a silver half-disme (a disme is the original spelling of dime, so a half-disme was equal to 5 cents). President Washington melted his own silverware to supply this first batch of U.S. coins.

Coin collecting first became popular around 1825, though it was considered a hobby of kings.

By 1875, coin collecting began to enter the mainstream, and today there are an estimated more than 5 million Americans of all ages and backgrounds who collect coins.

Indeed, coin collecting today has enjoyed renewed interest, especially with rising commodity and precious metal markets. Gold recently topped out at nearly $1,000 per troy ounce and silver touched $16 per ounce.

As well, commemorative coins and various promotional coin programs (such as the state quarter program, which ends this year) have maintained and inspired coin collecting through generations.

Nine-year-old Bryce McCarthy of Norwich was introduced to coin collecting by his grandfather.

Full Daily Star Article