replica coins

is anyone else concerned about all these very convincing replica coins floating around ...

so all it would take is someone that doesnt stamp the "replica" on the coin ...

how can anyone buy a rare coin and not be concerned about this? especially on an auction site.

 

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other than the replica stamp ... the darn thing looks real to me

 

It does not look too real to me, but that is beside the point. Try reading this thread http://www.cointalk.com/t95466/. To make matters worse, a fair chunk of those go out without the "REPLICA" stamped on them

 

I would be willing to bet that almost all of them go without replica stamped on them.

 

They are supposed to be stamped "COPY" according to the Hobby Protection Act.

 

i bet as the counterfeiters get more adept, they eventually will be really hard to tell apart from genuine coins

it's a shame because it makes me want to not buy anything that's supposedly rare. just too much of a gamble

 

Tell that to "ixwizdom" and "jinghuashei"... see if they care.

 

I think you are sort of wrong. By that I mean that I do not see them chancing sending unstamped coins out to most eBay buyers - unless they know the buyer will not report them. eBay can and does act if they know the coins are not marked. I do not think they would chance getting banned for the small 1sy, 2sy sales on eBay. On the other hand, the larger sales from their web site (and probably eBay) to repeat/known customers probably comprise the majority of their sales and have few such inhibitions. Also, FWIW, most of the individual sales probably go to fill a hole and stay there. You, as a dealer, would likely never see them. The other sales are more typically for more nefarious purposes.

 

As long as Beijing doesn't care, they won't.

 

More to the point, try to tell eBay. I have not yet succeeded in convincing them of that fact. If anyone knows which buttons to push, let me know or push them yourself. I wonder if several hundred such reports would dent eBay's resolve.

 

That's why it's always best to buy individual, older coins from reputable dealers and not auction sites.

Did anyone watch Pawn Stars last night on History channel? A woman brought in a 1932-S quarter, in a 2x2 cardboard flip marked MS-65. Redbook price is $6250. Turns out that someone added the mm to the coin to make a $7 coin into a $6200 coin. It was altered. Rick spotted it right off, but had an expert come in to look at the coin and he confirmed Rick's determination.

 

In order to study them I have ordered over 50 counterfeit pieces from China via EBay from different sellers. All of who's listings said the coins would be marked copy or replica. I have never spoken to any of the sellers prior to purchasing the pieces and I have never spoken to them after my order. I have yet to receive a single one marked replica or copy. In my experiences they didn't ask if I wanted them marked or not... they just shipped them unmarked.

EDIT: I also ordered in different quantities each time. Sometimes it was one single coin... sometimes it was 5... sometimes it was a few more.

 

Until years later when the heirs bring in the collection to sell it.

 

Its a scary thought, For sure!!

 

Exactly. This is why the counterfeit gold coins from the 50-60's are still such a nuisance today. I usually see a couple of these a month and if you don't know what your looking for one can really get clobbered.

I have been presented several of the newer Chinese US type coin counterfeits for sale both in the shop and at shows. Either from people who bought them online and were trying to make some money by being a dirtbag... or from people who didn't know what they had and were taken by some other dirtbag. So in response to your statement I will say that I have already seen them. I completely respect your opinion but I think that you are underestimating the depth and scope of the problem these counterfeits are posing.

 

Let me guess; YOU get accused of being a shyster who is trying to rip them off?

 

I agree with you 100%. These cheaply made fakes from China are causing many problems within the coin community, not just for new collectors, but for experienced ones as well.

One can not state with absolute certainty that these fakes are not affecting the sales of genuine U.S. coinage, as well as the reputation of the Numismatics world in general.

 

Yes it is getting bad, an some of the Chinese fakes are now starting to show up in bulk lots of common US stuff. In the latest issue of Penny-Wise (The EAC Journal) is a story from someone who bought a bulk lot of common middle dates and he thought he had found a treasure, a mid-grade 1818 that didn't match any of the known varieties. It was one of the Chinese fakes based on a mid 1830's variety. Now we are not talking an expensive date or condition. Just a common coin in a bulk lot, but it means they are going into hiding now and will keep popping up for years even if their production is stopped.

 

I recently found a chinese fake with mismatched obverse and reverse in a collection. Other than the obvious fact that this coin was never produced, the coin looked like a high quality piece. I think the time when professional graders are going to struggle just to authenticate a coin is very near.