Latest fakes out of China (by way of Burlington MI)

Discussion in 'Coin Chat' started by GeorgeM, Apr 16, 2022.

  1. GeorgeM

    GeorgeM Well-Known Member

    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.

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    -jeffB, lardan, MIGuy and 1 other person like this.
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  3. JeffC

    JeffC Go explore something and think a happy thought!

    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.
     
    Last edited: Apr 16, 2022
    Inspector43 likes this.
  4. manny9655

    manny9655 Well-Known Member

    Buying this crap only encourages more fakery, IMHO.
     
    serafino and jafo50 like this.
  5. DaveisCrazy

    DaveisCrazy Member

    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.o_O
     
    JeffC likes this.
  6. Marsden

    Marsden Well-Known Member

    Congratulations on getting all these fake coins for free, I guess? What's your purpose in 'purchasing' so many?
     
    jafo50 and JeffC like this.
  7. JeffC

    JeffC Go explore something and think a happy thought!

    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.
     
    Last edited: Apr 16, 2022
  8. Kentucky

    Kentucky Supporter! Supporter

    @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?
     
    Hookman likes this.
  9. Hookman

    Hookman Well-Known Member

    Good question(s) Kaintuck.
     
  10. GeorgeM

    GeorgeM Well-Known Member

    Nope. Reeded all the way around, probably on the same reeding machine that turns out previous year copies.
     
    MIGuy and JeffC like this.
  11. GeorgeM

    GeorgeM Well-Known Member

    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.
     
  12. Marsden

    Marsden Well-Known Member

  13. Kentucky

    Kentucky Supporter! Supporter

    Can only hope
     
  14. Marsden

    Marsden Well-Known Member

    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.
     
    Kentucky likes this.
  15. Hookman

    Hookman Well-Known Member

    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.
     
    MIGuy and GeorgeM like this.
  16. GeorgeM

    GeorgeM Well-Known Member

    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*.
     
    -jeffB, lardan and MIGuy like this.
  17. GeorgeM

    GeorgeM Well-Known Member

    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?
     
  18. lardan

    lardan Supporter! Supporter

    Good question.
     
  19. serafino

    serafino Well-Known Member

    I'm sure some of these Chinese fakes are being sold on eBay.
     
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