Dealer Sued for Selling Fake Slabs

Wow what a coin dealer! Boy that guy was a little light on the brains I'd say, what an idiot!!

 

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Soon we'll have to have a service, like CAC, just to authenticate the slabs All kidding aside this is sad state of affairs that a dealer has allegedly done something like this. I hope this is an isolated case. I don't have may slabbed coins but if I purchase more in the future I hope I don't run into a dealer like this one.

 

The coin dealer should be tried, convicted and thrown in prison, if guilty. The connections to the PCGS and NGC article identifying the fake versus real slabs is valueable for those of us that can't always recognise the Chinese fake slabs and coins.
Thanks for a great thread that we all need to read.

 

So how do us newbies stay safe? I hear time and time again to stick to slabbed coins unless we have the training to spot a fake. For those of us interested in collecting a wide range of types, that becomes rather daunting. Now we have to worry about fake slabs running around...

 

they all ready are. 20 years ago

 

Learn, learn, learn and then learn some more. You learn enough you will never have to buy a slab.

 

I'll offer my opinion on the "newbie" issue...

New collectors are extremely vulnerable to fakes, obviously. With the slabs now being potentially faked, too, the vulnerability goes up even more. Personally, I think new collectors should NEVER make a decision about the purchase of a coin on their own until they are comfortable with that coin's features. You want to buy something that looks like a good coin and a good deal? Post photos on forums, get opinions, get estiamtes from people who know what they're doing, get as much confirmation as you can that this is OK.

After a while, you will start getting a natural feeling of "I know this" when you see a coin that you want to buy, you'll get comfortable with it to the point where you can hold a coin, look at the lettering, denticles, etc. that you'll recognize it as being authentic and correct without a doubt. But until that point, I would stick to the above plan of getting opinions and having more experienced members take a look at what you have found.

Speaking from personal experience here... it took me a year to get comfortable with just 1 denomination of Russian coin I collect, and I STILL post photos for people to comment on and tell me what they think. Patina looking funny? You bet those photos went up on here and other forums. Edge lettering looking unusual? I got high resolution photos posted within minutes. Weight off? I post about it asking for someone who has seen many more specimens to comment.

 

Read the links provided earlier