If You Owned A Fake.........

If you owned a coin that for some reason made you feel that it could be a counterfeit, what would you do with it? Send it for grading, even though you would bust it out if it grades comes back authentic? Take it to a coin shop? Sell it as a could be fake? Or just throw it back where you found it?

 

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Sit on it. Make a note in the log that it was believed fake. No sense propagating the fallacy...

 

Good question and I would guess that sending it to ANACS might be a cheap way of finding out if the coin is a fake.

 

I might get it graded to be sure, and then if I owned a fake, I'd keep it to help keep myself from buying another like it.

 

If purchased from an auction house, dealer or independent seller, return it to them, get a refund and put the burden of responsibility on them. In this case, assuming I had bought it not realizing it was not authentic. If legal tender that as 'found' in circulation, report it to the authorities, even if it meant it would be "confiscated". If a demonetized piece 'found' in an overall collection or bulk lot, get it verified by a third party/expert and probably keep it if the subject interested me, or sell it to someone who collects such things, listed appropriately as a known fake.

 

I pretty much agree with @krispy: it would depend on how I came to own the coin. Depending how convinced I was it fake, if I bought it from a dealer or auction house as an authentic coin, I'd either immediately return it or submit it and see what happens. If it was a circulation find, unless it was a Henning nickel or a similarly well-known contemporary counterfeit, I'd report it. Otherwise, I'd probably keep it, appropriately noting that it's a fake (maybe counterstamp it with COPY).

 

ive sent one in before. of course its over 60 year old counterfeit. But I liked it so I kept it.

 

Heh... TEN CASE? Isn't that supposed to say TEN CASH?

 

yes. there are many Chinese error coins. I enjoy collecting. I have a EIVE cash coin instead of Five.

 

I actually wondered if the Graders would create a label for one. If I sent a coin in and it was indeed determined to be fake, I would like for it to be slabbed as such. Where it says "NOT ENCAPSULATED", does that mean they just didn't seal the slab?

 

it was not encapsulated I made my own and posted their label inside.

Both PCGS and NGC will do labels just wont put them in plastic. I had a altered 1914D (44D) that was not encased by PCGS as well.

 

They send you the insert and the coin back in a flip. No case. But it's got a number in their system as such: https://www.ngccoin.com/certlookup/3943048-012/

 

You suspected the Chinese coin was a fake prior to sending it in ? was the weight of the coin correct ?

 

I know that the grading companies are great with American coins, but how are they with rare foreign coins and their variations

 

No I was unsure maybe/maybe not.. there are very little known on the anwei pieces with the square not cut out. these aren't precise pieces such as US or known world coins. the pieces were made with a press bought in Shanghai. the die broke and no long punched out the square in the middle. After that it was sent to SH to repair and then never used again. More pieces were made with the hole then without and they are fairly scarce. Due to the age of the coin over 60 years there was a chance it might be authentic. It turned out it was not. either way I liked the piece so I kept it.

 

They have experts for almost everything, though you may have to decide which is better for the series or issue you are submitting to them based on things like how many they have in their pop reports and how they are willing to designate those pieces. If you know what you have and want them to get it right, you should provide supporting evidence to the graders if the piece is so rare or unusual that you feel they might miss it themselves. You may also feel one company is stronger in grading a particular issue compared to the other, and so have to weigh your options.

 

I don't believe the counterfeit is that old. There was a huge batch of counterfeits that a seller was selling and he claimed that he bought it in the 1980s. This seem to made one of the 'coins' that I have seen a while back. Apparently this was the test period where some of the super counterfeits were made. Some are actually very well made - well within the weight tolerance. The only differences is just some stroke differences and the overall appeal of the coins.

 

Good to see you posting again.

 

that is a possibility. As I haven't owned it for more than 4 months. but I was in no position to call the seller a liar. but like I said either way I like it and will keep it how it is.

 

I own several fakes and they are obvious fakes where I don't need ANACS or anybody else to tell me its a fake.

They are in 2x2's labels as such and the only way I'd part with them is if someone was in the market for a fake. They'd have to pay what I paid.

As for sending in a supposed fake with the hopes that it might possibly grade?
I would never, ever, consider such a tactic.

But that's just me.