The counterfeiting of slabs is getting ridiculous

My next project is looking for an uncirculated 1902-S Morgan. I've found two counterfeits in just one day of looking. The coin in this holder looks strange to begin with. When you can't trust a graded slab, it's really sickening. The first key was no hologram in the right hand lower corner. Then I crossed the cert to PCGS and it's no way the same coin, in fact the real one is Gold Shield Service. This one is not. I'm going to send the seller a message, I'll bet they are not even aware.

 

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I've looked at his other items, they look legit. Seller has no reported issues, and has quite a few nice graded coins.

 

It really is scary that slabs are being counterfeited. Hard to trust anything anymore.

Bruce

 

Well I'll be damned. Listing was to run another week, I went back to look again and seller had cancelled listing. I'll bet he is NOT happy with someone in his shop. (or kicking himself). One small win!

 

It's classic Darwin. The fat, dumb and happy get eaten.

How would it be today if collectors in the 70's and especially the 80's had not started sniveling and paying others do the dirty work?

I was ecstatic when I found out I could just pay ANACS to authenticate coins. There's a photo of my first submission in 1979 in Condor's first book. And then "what's this?" now they'll grade coins too. I don't have be bothered with any of this authentication and grading stuff? Just buy, submit, put a check mark on the list, throw it in the bank box, and wait until I'm rich.

So, what good did it do us? "Buy the coin not the slab." Really? Pay for a graded coin that I still have to grade. Does anyone pay for an oil change and then do it themselves when they get their motor car home?

For every collector like the OP ^ who can spot suspect coins and slabs, how many can't and end up getting eaten sooner or later. I'd bet anything it's way more than collectors from the 60's or earlier who had to do it all themselves.

Someday we won't have to do anything. Just buy into an ETF. And the mantra will be buy the slab not the digital paper.

 

Guy actually thanked me in a message after he removed it. I was respectful when I alerted him about it being a problem slab. I honestly don't think the seller knew.

 

Barcode won’t scan either. Who is the seller? They deserve at least a look at their other stuff for having integrity.

 

I already did. I'm not going to drag him into the mud by posting that here. All of the other stuff I checked is legit, at least the slabbed ones. Everybody makes mistakes, this is one of the least egregious ones I've seen. The pirates are everywhere. The infuriating thing is that when these fakes enter the marketplace, many unsuspecting sellers have no idea they've been hoodwinked. Not every seller is an expert on their inventory. Many are collectors just liquidating parts of their collection.

 

I think you misinterpreted. I’d reward them for having integrity by buying if they have something I want.