How concerned should we be about counterfeits?

Here is another Barber half I saw earlier today on eBay that seemed perfect for a type set (assuming it's real), but the low feedback (5) gave me pause.

http://cgi.ebay.com/1915-D-Barber-H..._Individual&hash=item3a5b334e19#ht_500wt_1154

 

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So what does being a reputable dealer have to do with expertise in detecting counterfeit coins? Many of the counterfeits are so good that even "reputable dealers" can't detect them.

And what is a "guarantee" from a dealer worth if he sells you a counterfeit and you can't detect it either. All the guarantee is doing is to say that if the dealer doesn't detect the counterfeit and you find someone smarter than him to say your coin is counterfeit, he'll refund your money and admit his ignorance. Whoopeee!

 

what would you want him (the dealer) to do?

 

Throw himself off a bridge.....

 

In a perfect world, wouldn't the dealer be able to spot counterfeits, in which case the guarantee would mean the coin was genuine?

 

Using a repubatle dealer always leaves you the chance of returning it . Say you buy an exspensive coin and can't tell if it's real , but a few years down the road you go to sell it , then find out its a fake . At least you have some recourse . Like Doug sait it's the best it's going to get .
rzage

 

Absolutely Rusty....a little further advice for folks too. Save your receipt. If you don't have one and the coin is questionable down the road, you will lack the ammunition to take advantage of any guarantee. :smile

 

Yes, As stated Chinese counterfeits and others as well (Very Scary) !!

 

I find it interesting that the coin http://cgi.ebay.com/1904-P-Barber-Half-Dollar-GEM-BRILLIANT-UNCIRCULATED-/320537599615?cmd=ViewItem&pt=Coins_US_Individual&hash=item4aa1879e7f#ht_500wt_1139 is photographed at an angle. To me, it looks like it has been polished. Anybody else care to chime in?

 

Looked like a Simonize job to me too.....

 

What sucks is the counterfeiters know it's wrong, but they do it none the less. I read here (http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/) that counterfeiting of US and other nations' coins is treated as a legal business. I suspect the penalty for counterfeiting Chinese coins (in that country) would be pretty severe. Death?

I can't help but think about all the lead based products that are sold to those outside of China, that I suspect are not sold within their own boarders.

 

OP: Yes, we should be very concerned - but our response should be preparation, not fear.

May I suggest the ANA course on counterfeit detection - coming to an ANA convention near you ! One of the super-cool things they do is provide a large collection of counterfeit coins for your personal study and observation. The bogus coins are mixed in with genuine ones which increases the challenge of spotting the fakes - just like the real world.

In the collector world, much is made of "how good the counterfeits are", because we tend to emphasize the negative. The good news is most counterfeits are easily detected with training and practice.