APMEX Selling Counterfeit NGC Graded Coins

Hard to imagine that APMEX didn't realize this was fake before listing it on eBay. Verify at NGC shows a real 1 Pound coin with the correct dimensions. APMEX had it priced like a 1 Pound coin, but clearly the fake is meant to look like a 5 Pound coin instead.

I'm wondering if someone thought they were getting a great "deal" on what they assumed was a mechanical error at NGC with the coin incorrectly attributed on the holder. A close inspection of the coin online suggests it isn't real; the legend under the quadriga looks blobby and not well defined. Reasonably deceptive fake holder though.

APMEX has a disclaimer at the bottom of the eBay listing saying "This is not a photo of the actual item. The photos are meant to be an indication of the product you will receive". Trying to decide if the listing is a result of APMEX incompetence or outright consumer fraud using a digitally altered photograph to suggest the coin is five times bigger than it really is. In either case, it's unacceptable.

I sent a complaint to NGC. Will be interesting to hear what they have to say about it.

Pic of the real deal at bottom.




https://www.ebay.com/itm/116603211979

https://www.ngccoin.com/certlookup/3739012-002/63/

 

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I'm quite sure it's the same coin.

Sometimes APMEX slab pictures are not edited correctly and make the coin look smaller or larger than is proportionally correct.

They made that mistake with this 1855 Half Cent as well.
https://www.ebay.com/itm/146567697914

 

It's certainly worth calling out APMEX for the bogus photo, but since they do say it's not a photo of the actual item, I see no evidence that they're selling counterfeits. That's a very strong accusation, and one I'd be cautious throwing around.

 

Sounds more like a fake photo than a fake coin.

 

Side by side it's certainly fishy as heck. Why would they manipulate an image? The prongs are shorter and fatter on the right-hand slab. Not a good look for APMEX either way.

 

NICE...

 

The edited image might be because they can't take a good picture of the coin without glare on the slab. But I don't actually know for sure.

 

They're in the business of selling PMs and coins. They can take good pictures of slabs. I've taken pictures of many slabs and it just takes offset lighting and a fixed camera. This likely comes down to an individual listing things rather than some directive from the top to deceive. There are many sellers on ebay who list perfect looking Morgan dollars and then go on to say you will receive one similar to the one pictured. Not a wholesome way to market things but it's not against the rules. Does seem questionable.

 

I know at one point eBay's rules specifically prohibited "stock photography" for coins except in very narrow circumstances.

I also know that those rules were rarely if ever enforced, especially against big sellers.

 

They have been doing this weird editing for years.
Here is a thread I did about this over 10 years ago!
https://www.cointalk.com/threads/did-apmex-just-discover-the-rare-pcgs-ngc-crossbreed.261695/

And another thread from here in 2020:
https://www.cointalk.com/threads/check-out-what-i-just-found-on-ebay.359455/#post-4459591

 

They (APMEX) are the ones who made it look like a 5 Pound piece with the details of a 1 Pound piece. If the coin "looks" like a counterfeit 5 Pound piece it's on them for deliberately altering the image, not me.

APMEX is a member of the Professional Numismatic Guild (PNG). These are the bylaws ALL members of the PNG are required to abide by. As a member of the PNG, it is incumbent upon APMEX to adhere to these requirements, and IMO their consistent failure to do so warrants disciplinary action from the PNG.

https://www.pngdealers.org/content.asp?contentid=137

 

Management is responsible for the actions of their employees; our entire legal system is based upon the bedrock of this principle. No one gets to abdicate their responsibility for actions taken by someone in their employ.

 

I experienced this firsthand as a systems admin when the VP instructed engineers to break the piracy protection on $20k a pop desktop licenses. Not just management can be held responsible, but everyone in the chain of command, whether directly involved in it or not. I was forced to put my job on the line and tell the VP it had to stop. Possible 5 years in prison and 250k fine versus a crappy job? Tough choice. Anyway, I'll remember this about APMEX. So much easier to just take a picture of the coin instead of jacking around with it.