Counterfieting troubles

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like it says bst way to deter counterfieting is to buy certified numismatic peices, and not off ebay.. unless yur certain you can return them

 

of corse that doesnt mean there isnt counterfeit slabs out there.. you just have less of a chance of finding one..when you go with a major grader..

 

[h=3]How do you protect yourself from buying a counterfeit?[/h]The best advice that I give clients and collectors is to never buy a coin that cannot be returned. No matter how temping the bargain, it is probably a trap! Buying only certified coins is great protection, but knowing that you can return something if there is a problem is your safest move. Most expert rare coin dealers do not have much trouble with counterfeits because of years of experience. Use their knowledge to your advantage.
Recently the Secret Service has become much more active in looking at the coin counterfeiting problem. Last year, they contacted me about ideas on how to attack the situation. They have many experts on counterfeit currency, but limited knowledge with coins. They’ve known of the problem for years, but were not diligent enough in dealing with it. The Secret Service has made several arrests in recent months and their efforts were at least partially responsible for the eBay changes. The government knows they cannot arrest everyone in China or even the shady individuals in the United States selling them. They can, however, make high profile arrests and attempt to punish those involved to the fullest extent of the law. At least in the future, the bad guys know there might be serious consequences for their actions.
In general, the counterfeit coin problem is real and a danger to our hobby. Collectors can and should protect themselves by dealing with reputable dealers. NGC spends a tremendous amount of effort staying on top of the problem as well. Best advice: Buy certified coins from someone you trust!!!

 

Counterfeit coins are the most scary thing about collecting coins. I try to only buy from my local coin dealer, but have bought a couple things off flea bay at spot silver prices.

I was watching the "Storage Wars" show the other day, even though it isn't my favorite show, seems like it is always on. One gal bought a storage locker which had a coin collection in a plastic bin. When getting it appraised, the proof sets and certified coins passed muster and the guy was quoting prices that seemed reasonable. There were some supposed rare coins in a plastic sheet, believe one was an old trade dollar. The dealer/appraiser said that he was suspicious. Grabbed a wand with a magnet on the end, and the coins stuck, counterfeit. It was kinda cool.

 

How odd. I didn't see any recommendations about becoming
more knowledgable in counterfeit detection.

" ..You can read numismatic journals from the 19th
century and realize that collectors [*collectors*]
were dealing with the problem even then..."

 

I think FeeBay is the best place to buy coins to deter counterfeiting.

1. Buy and receive coin.
2. Discover that it is a counterfeit coin.
3. Report it to FeeBay and receive refund without having to return counterfeit coin.
4. Profit.

Now the counterfeit seller is out shipping expenses and his counterfeit coin.

 

BTW Lonesome John's Detecting
Counterfeit Gold Coins is available from Ken Potter.

 

Profit?? C'mon man, seriously?

 

It's an Internet meme - Usually with step three blank...

So no, not seriously.

 

Ok then, what an odd meme.

 

http://knowyourmeme.com/memes/profit

I guess it started with a Southpark episode where gnomes were stealing underpants:

1. Collect underpants
2. ???
3. Profit

 

How about education as the single most powerful tool? If you tell someone to only buy slabs, you are completely setting them up for failure when, (not if, when), high quality counterfeit slabs become widely available.

I educate myself on all aspects of the coin. This way no matter what curveballs counterfeiters come up with, at least I have a chance of defending myself.

 

Reminds me of the Al Bundy episode when ET's
were stealing his socks to use as space ship fuel.

But if you are allowed to keep the counterfeit you
have profited by having an example of that type
of fake.

 

Counterfeit Vams are the best.

 

I prefer counterfeit silver Morgans that are cast from 90% silver. :yes:

 

More on the tungsten fakes
. http://www.numismaster.com/ta/numis...e&ArticleId=25824&et_mid=583407&rid=233905117

 

I liked the one that was dated 1873. I think they
did that one on purpose so people would buy it for the joke:
"Don't they have a redbook in China?"
"Sure we have lot's of little red books in China."

 

You are wasting your time and money chasing after this. Also ebay would not issue refund unless there is proof it is counterfeit (you crack the coin in half or send it to TPG), other wise you have to return it back for just return item refund.

 

Counterfeiting is as old as is the use of coins, and the main disease of numismatics.

"Die Kunst falsche Münzen zu erkennen"/ translated "The art of recognizing counterfeit coins" written by G. B. Loos in 1828, is a good example for the effort on trying to educate people in past centuries (and I'm sure there is even older literature). Be it pricing or authenticity, before a purchase people need to inform themselves has always validity.