I offer this only as a member of the CC & GTC which IMHO clearly outlines in the Code of Ethics how "finds" should be handled by those who are members of the club.

My dealings with Josh have been nothing but excellent and my dealings with Pete have been nothing but excellent. This post does not address whatsoever the intent of anyone's actions nor timing of anyone's actions etc,.

The two rules in the Code of Ethics that seem to apply to actions of members surrounding a "find" of chips are:

Rule 3
"To base all of my dealings on the highest plane of justice, fairness and morality."

and

Rule 9
"To furnish requested advice to the best of my ability and knowledge, and not to take advantage of superior knowledge on my part to the disadvantage of a less knowledgeable collector."

IMHO Rule 3 applies to having knowledge of a "find" that is confirmed, by the best available resources, to exist.

Should any CC & GTC member become aware of a confirmed "find", it is his/her responsibility to disclose this, at the earliest oppurtunity, to all club members in order to "deal under the highest plane of justice, fairness and morality."

It is unfair to let buyers of "found" chips purchase them under the premise of outdated rarity information when knowledge of updated rarity information exists (due to the find) by one or more members.

Further our Club should have a forum or place on the site specifially allocated to list the chips "found". This list should include, but not be limited to number of chips found, date of find, seller and other information deemed relevant. The absence of such list prevents all members, collectors,(new collectors in particular) and dealers, from "having a plane of justice, fairness and morality" available to them, which is a fundamental basis of the club.

Additionally, without such a place listing "finds" a find could possibly be obtained by those unscrupulous enough to offer them for sale under the premise of the "find" not existing (selling the chips as rarer than they knowingly are)and obtain a possibly higher value than should be obtained if information regarding the find WERE made public.

We all know that disclosing a confirmed find, of chips in appropriate condition, will cause devaluation of the existing chips INCLUDING those in the find.

IMHO Rule 9 "To furnish requested advice to the best of my ability and knowledge, and not to take advantage of superior knowledge on my part to the disadvantage of a less knowledgeable collector." is clear in outlining what the BUYER of a "find" is required to do as well.

They must disclose to the buyer during the selling process of these "found" chips that this find exists, otherwise they are in violation of Rule 9 which specifically requires them to "not take advantage of superior information.....to the disadvantage of a less knowledgable collector"

By not disclosing the find, their "superior knowledge" makes it "unfair and unjust" to sell these, as if the find did not exist and violates both Rule 3 and 9 of the Code of Ethics.

I cite James C as being a pillar of upholding Rule 3's Higher plane of justice,fairness and morality" and Rule 9's "to not take advantage of superior information.....to the disadvantage of a less knowledgable collector"

He had sold me some chips and somehow we got to me buying some Hacienda .50 "error" chips from him as well. He could have sold them to me for $$$$ as I was not yet familiar with the "find". Instead, he took the high road, informed me of the find and sold them to me for $. Thanks again BTW.

The club has a list of "Fantasy" chips. we should work to have a list of chip "Finds" implemented on site at the very earliest convenience. It is in the best interest of us all and the industry as a whole and could help prevent any inappropriate actions and/or members getting burned.

Those in violation of these rules should be warned. Those who continue to violate the rules after being warned should suffer more serious options including expulsion.

We have many fine members the vast majority are exemplary. If we are to continue to grow the industry, we must strive to have morality, fairness and justice so new members do not lose faith in the club, if/when they are burned by those who are not forthcoming with finds.

No one wants to pay $300.00 for something that is known to a few to be worth only $30.00.

Let's all play our part by working to report finds immediately and post them on the club site.

Terrence
R-6095
www.RareChips.com