For a while now, I've been seeing banner ads for wildly underpriced coins that are obvious fakes. I've tried reporting them, flagging them for review, and even blocking the worst offenders. But, they just change names & keep trying to fleece people. About a month ago, I placed an order for about $1,500 of coins (which would have been worth more than $10,000 if real). The shipment took longer to get here than they'd advertised (the seller claimed it was shipping from the US, but neglected to mention it was being forwarded from China first, according to the tracking). Based on those details, PayPal Credit refunded it while the shipment was still in transit. The latest from the coin mills are an interesting mix of good eye appeal (passing at least cursory examination) & clever metallurgy. The ASEs, 2021 Morgans & 2021 Peace Dollars are only mildly magnetic (checked with a rare earth magnet, they budged but didn't stick). The Kangaroos & silver colored "gold Maples" might as well have been pure iron - they jumped onto the magnet even with plastic capsules on. Diameter & thickness on them seem right, but their weight is a bit light: 22g on the Peace dollars, 24g on the ASEs, 30g on the Kangaroos & Maples.
I'm curious: For the 2021 ASE Type II, was there a break in the reeding (one of the Mint's security features)? EDIT: Question pertains to the fake one.
Yes there is a nick cut out of the reeded edge on the ASE 2021 Type II. Not much of a security feature, if you ask me.
Congratulations on getting all these fake coins for free, I guess? What's your purpose in 'purchasing' so many?
Oh no. I was asking if the fakes that the OP bought had them, cause (like you) I was curious to see if that feature could be replicated easily.
@GeorgeM everything I know about you says you are a stand up guy and I don't think you ordered these for re-sale. What will you do with them, and do you think ordering them would hinder the seller in any way or encourage him. Should we all do this and put the guy in a world of hurt?
Nope. Reeded all the way around, probably on the same reeding machine that turns out previous year copies.
I have metal punch dies & label them "COPY" before giving them to local coin clubs, dealers, pawn shops, & bullion buyers as warnings of what to look out for. I've also shared the shipper/trans-shipper info with the Secret Service & worked to get their accounts and websites shut down. And, yeah, this is the 8th or 9th order of this magnitude that I've gotten charges reversed on. I'm hoping it puts a dent in their profitability.
They're also selling these.. https://ae01.alicdn.com/kf/Hfef81a2b12ad461fa480f6c044a8e141C.jpg_640x640Q90.jpg_.webp
I'm still amazed. This means you've spent over $10K on counterfeits, and that's just the ones you've gotten refunded. So, overall, you've spent what: $50K on counterfeits? $100K? I'd be nervous, among other things. I'm also amazed that they haven't blacklisted you yet.
One successful sale on their part makes the losses worthwhile. Remember, their actual loss is far less than his purchase price. And their greed keeps them hoping for that payoff.
So far, my net cost has been $0. And, they keep eating the shipping and manufacture costs. On the scale of the enterprise that seems to be operating, my impact is probably only a rounding error. But, if the Secret Service ever acts on the info I've passed along, they scammers will feel *that*.
Strangely, I've stopped receiving targeted ads for this type of product. Is it just me, or has anyone else noticed a reduction in the number of too-good-to-be-true coin ads?