i most recently became the not so proud owner of two counterfeit coins a 1840 seated liberty dollar and a 1876-s trade dollar i traded 16 oz of silver bullion for that opportunity sorry i dont have pictures but they are good worn examples vg to fine condition i bought them from a trusted individual only problem they are strongly attracted to a magnet the seller is out of work and has spent the money and no longer has my silver or the immediate means to pay me back i honestly believe he was unaware they were not real my question is what legal recourse do i have thanks for listening
Where do you live? Where was the transaction performed? Unless it's in the US, you have no case in US law.
You couuld sue him in small claims and probably win a judgement. But what is the use if the dude has no money.
Don't know about where you live but here it costs $50 to file a claim. And if the other party denies it then it become a moot point. And if he doesn't have any money you have won nothing. Better to file it under "bad experiences" and move on.
Are you kidding @j wesolowski ! I doubt that the seller didn't know they were counterfeit. I wonder if he tried to pawn them off on some dealer, first? Heck, when it comes to money, you can't even trust relatives. Report him to the Secret Service! Chris
Unfortunately, the Secret Service is not interested in these types of counterfeits. They are only concerned about modern currency that is still in circulation. In May, I bought a counterfeit Trade Dollar, and had a long conversation with with an agent from my local SS office (Tampa, FL), and was told that the best option was to have it verified as a counterfeit by an independent coin dealer, and then try to get my money back. Luckily, it was an ebay purchase, and I had very little difficulty getting my money back, but the SS was not a helpful resource. If who you bought them from is so trusted, I'd suggest easy monthly payments for the return of your money.
First, are you really 73. If the guy (dealer?) you got them from is broke, what would the cops do? Keep friendly and maybe you can get your money back when he gets flush.
From your description, I can't help but to think you're likely better off working with him than taking any other type of action, especially since you seem to have some level of confidence in this fellow. Even though many are happy to jump on the intentional wagon whenever counterfeits are mentioned, this kind of thing does happen in a hobby where so many involved view knowledge as optional. If this dude genuinely feels bad about it, he's going to do what he can to make it right as well as be upfront with you. Even if only a token amount here and there, actions speak louder than works and is what I would really want to see from him at this point. Good luck to you, sir.
Commonly counterfeited coins both especially more common 1840s dated seated dollars and of course trade dollars which have been counterfeited since new. My advice for everyone that doesn’t know all the earlier dollar series (trade dollars back) extremely well . ONLY BUY SLABBED OR FROM DEALER THAT WILL GUARANTEE AUTHENTICITY IN WRITING!!! I’ve said it before and I’m sure it’s not the last time if you don’t know trade dollars DO NOTBUY RAW
