Q: I am running an organization's bake sale. A customer pays with a one-dollar coin. The intended price is one dollar.
I like collecting one-dollar coins, so I take this one for myself and replace the coin with a one-dollar bill, which is in concurrence with the original intended price and the fiat value of the coin. I have no prior knowledge of the coin's potential value. I take the coin home and get it appraised. It turns out that it's worth 1,250 dollars. Am I legally obligated to give this money, were I to sell the coin, to the organization? Neither I nor the woman who paid with the coin had any knowledge of its value beforehand, and the bake sale transaction occurred under the assumption that this currency was, indeed, worth a dollar, as, economically, that is all it can purchase, regardless of the intrinsic value collectors may or may not place on it.
A:
In situations like this, the legal and ethical considerations can differ. Legally, if you replaced the coin with an equivalent amount of currency, you haven't technically deprived the organization of its due funds. The transaction was completed as intended with the organization receiving the correct amount for the sale.
However, ethically, it's a bit more complex. If the coin was donated during a fundraising event, there's an argument to be made that its full value, once realized, belongs to the organization, especially if the coin was part of the funds raised. This perspective stems from the understanding that all contributions made during the event are intended to benefit the organization.
Before making a decision, you might consider the organization's mission, your relationship with it, and your personal ethics. Consulting with someone in a leadership position within the organization could provide additional perspective. Ultimately, while you may not be legally obligated to hand over the proceeds, doing so could align more closely with the spirit of the fundraising event and the intentions of the donors.
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