I've just purchased an 1883 authentic gold plated racketeer nickel off ebay!

I really did I swear. Here's the link-


http://cgi.ebay.com/1883-P-UNCIRCULATED-GOLD-PLATED-RACKETEER-V-NICKEL_W0QQitemZ300278638250QQihZ020QQcategoryZ11953QQcmdZViewItemQQ_trksidZp1742.m153.l1262

And I'm still happy with it, even if I am supporting those scammers.

 

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and I did buy it for the coin, certainly not the slab.

 

You could have purchased the same thing, but probably a nicer example for half the price without support those scammers.

http://cgi.ebay.com/1883-24K-GOLD-P...tZCoins_US_Individual?_trksid=p3286.m20.l1116

 

I would have prefered one that was actually plated back then though.

 

Yeah, what he said.

 

oh well, I like it and I don't feel cheated so all is good.

 

I think you got ripped off. That's what I think.

That is definitely NOT an "authentic gold plated racketeer nickel". As others have pointed out, this coin was gold plated after the coin had been heavily circulated. If the coin had been plated and then heavily circulated the plating would have worn away on the higher portions of the coin. But on your coin the plating is on top of the worn portions of the coin. That is a dead giveaway that this is not an "authentic" Racketeer Nickel.

Think about it - just how long did the Racketeer Nickel Scam work (if it ever worked at all)? A few weeks? A few months at best? So it stands to reason that an "authentic" Racketeer Nickel would be a coin in Uncirculated or AU condition that was gold plated. It took your coin many years of circulation to reach its present condition - and then it was plated. By then the Racketeer Nickel Scam was long over. This scam has now been replaced with another Racketeer Nickel Scam where common 1883 Liberty Nickels are plated to fool the unknowing collector. Sorry but you have been scammed.

Aboncom (the seller you bought your coin from - see countless other threads on CoinTalk for an idea of what others here think of him) described your coin as:

SGS graded the coin MS-60. Anybody can tell that your coin is heavily circulated. It is nowhere near MS-60. Maybe F or VF but certainly not anywhere close to Mint State.

AND would an "Uncirculated" Racketeer Nickel make any sense? Racketeer Nickels were made to spend and fool a shopkeeper, not to immediately place in a collection. These coins were created to SPEND. Said another way, these coins were created to CIRCULATE. I think it would be rather uncommon to find an "authentic" Racketeer Nickel that had not circulated.

Didn't you post a thread just a few days ago saying SGS and Aboncom are one and the same and another thread saying SGS's grading is poor? And then you turn right around and buy from them/him! Amazing! Simply amazing!!

I bought a fake Racketeer Nickel at a coin show a couple of weeks ago. My example is a well-circulated nickel that has new, shiny gold plating. I bought it for my counterfeit collection as an example of a Racketeer Nickel being plated after being worn. I paid $15 for mine (and I thought that was a bit high). I'll try to post pics of mine when I get a chance.

 

not too negative today are we?

 

Not at all. Just laying out the facts.

 

Not really, I think he is right. My mood icon says it all.

 

Great, other then the fact that your coin is a modern plating and mine is an original MS 60.

 

This is a valid point. Negative day today or not.
Sort of like if I asked everyone's opinion on eating pickled pig's feet.
Most reply they don't want pickled pig's feet and I say I don't want any either. But then I go out and buy pig's feet. Whatever.
Throughout the past few years there have been many posts on Aboncom.
I doesn't help to give this crook your money.

 

Your coin is neither original or MS-60. Sorry if that sounds negative but it is true.

 

I think he is absolutely right. I'm personally shocked that you would make such a big deal over how bad SGS/Aboncom is and then buy from him.

No, yours is also a modern plating and is FAR from MS60.

 

$33 is shocking too.

 

They are a terrible seller, but again I bought it for the coin I had wanted.

 

Gasp!! I didn't know the price untill now. Thats insane! I was amazed when Hobo said he paid 15 for his, but $33? Wow, man. Thats unfortunate.

 

But it's a common coin to find. There are tons of modern plated 1883 nickels out there...and many for cheaper than you paid. Why would you give that crook your money?

 

I have not a clue why I waited so long to ask you, but doesn't it seem possible that the coin could have circulated to this extent within the time period, only to be received by the fraud who then plated them to be passed off as 5 dollar gold pieces?

 

...and then it was instantly pulled out of circulation and stayed as shiny as the day it was plated. Gold plating is VERY thin. It will wear through will minimal circulating. So, if your theory is correct it could have only circulated for an incredibly short time.

The plating scam didn't last more than a couple months in 1883 then it died down. I find it highly unlikely that this coin circulated for years and then someone decide to plate it and pass it off as a gold piece. Especially since so many have been plated in modern years. Plus, even the SGS ad doesn't claim it was an original plating. They say "This specimen has the same gold plate as was used 123 years ago". All that means is it was plated in gold like the original scam nickels...not that it is one.