This section contains the nature of the case and procedural background.

Beachcomber (P) was a retail coin dealer who purchase a coin from Boskett (D) that was purported to be a 1916 Denver dime. P showed at trial that the coin was a counterfeit and that analysis was not disputed by D. D did dispute that the coin tendered back to him by P was not the one he sold. The trial judge found for D as per trade industry practices that the party purchasing the coin was to assume the risk of genuineness and P had taken 45 minutes to examine the coin and bought it. P then sold it to another for $700 subject to certification of genuineness by the American Numismatic Society. It was labeled counterfeit and P sued D. P appealed.

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