Counterfeit 2020 American Silver Eagles Being Sold by

Discussion in 'Bullion Investing' started by deucheney, Sep 20, 2020.

  1. deucheney

    deucheney Member

    Hello everyone. I placed a couple orders with an online company named Coinspeso. "2020 American Silver Eagle .999 Fine Silver Uncirculated US 2020". When the coins arrived from China I was suspicious (of course). I took them to a local coin dealer and he confirmed that they were not the correct weight, didn't "flip" correctly, and (get this) were made of copper. So, I've been contacting this company since June trying to get a refund. I've contacted the BBB as well. Has anybody had any experience with counterfeiters? I don't know what else to do. I'd really like this company to be shut down so others aren't taken advantage of like I was. I'd also like to get my money back!!

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  3. Beardigger

    Beardigger Well-Known Member

    The company will just ignore you. You need to contact the CC company you paid with and dispute the charge to get your money back. Also the BBB is pretty much worthless, I can't remember the last time I looked a company up there, but it's good you reported just in case.
    Being an election year I would also write my congressmen and let them know about it, and ask them which federal department you need to contact in regards to counterfeits.
  4. LA_Geezer

    LA_Geezer Well-Known Member

    Agreed. I have been having trouble with the CC companies of late, though—even the one I have held since 1987.
    Inspector43 likes this.
  5. goossen

    goossen Senior Member

    I can’t find the silver eagle your purchased but there are a couple of hints on the website that indicate they are not real coins:

    DF00DBD7-418F-44AF-9EF3-82FDC6C014AB.jpeg 2C5D4B5A-A1F0-41DC-A5C7-7458CB69BBFE.jpeg
    Two Dogs, Stevearino, Bayern and 4 others like this.
  6. johnmilton

    johnmilton Well-Known Member

    Counterfeiters don't care what you think. All they want to do is rip you off.

    Thank you for posting this. I have added to my "virtual black cabnet." This is the first fake Proof American Silver Eagle I have seen since 2015.

    I would NEVER buy a coin from a Chinese seller. That chances of getting ripped off are huge. What's wrong with buying from U.S. dealers?
  7. Keith Twitchell

    Keith Twitchell Active Member

    If the company is in China, there is zero chance of getting a refund from them. I agree that your only hope is via your credit card, and looking at what was posted from the seller's site, even that is going to be a challenge. Hope it works out.
  8. furryfrog02

    furryfrog02 Well-Known Member

    Yup seems like the seller clearly labeled them as not being legit. That's what you get when you buy from China.
    I agree with the others, you will probably not get your money back from the company itself and your best bet would be to try your CC company.
    Good luck.
  9. Inspector43

    Inspector43 Collecting Since 1948 Supporter

    Would a person rather save a couple of dollars and be uncertain, or, pay going prices in the USA and know for sure what they are getting?
  10. ldhair

    ldhair Clean Supporter

    As others have said, file a claim on the CC. They may take care of you. If the company is in China, there is nothing you can do that would shut them down.
    Mountain Man and Inspector43 like this.
  11. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    From the pictures, I notice that on the obverse the rays are not pointed, but flat, and IGWT looks off. On the reverse, there isn’t a feather overhanging the upper part of the shield.

    And that was just on a quick inspection.
    John Burgess, JeffC and Inspector43 like this.
  12. schnickelfritz48

    schnickelfritz48 Active Member

    Sorry, but hasn't the buyer expressed a sentiment of naiveté?
    Mike Davis and Penny Luster like this.
  13. deucheney

    deucheney Member

    Thanks for the reply. I didn't know they are Chinese. They are listed as being from Las Vegas, NV.
    Terrifrompa likes this.
  14. deucheney

    deucheney Member

    Thanks for the responses. This is company is listed as being from Las Vegas, NV. The packaging used for the coins I received indicated the origin being from China.
    I am all about the USA.
    Inspector43 likes this.
  15. furryfrog02

    furryfrog02 Well-Known Member

    Oh man, that's even shadier. Gross.
  16. Tusky Ranger

    Tusky Ranger Active Member

    Yeah...I didn't see any silver eagles on the website either. The coins are all replica's. I've bought replica's to fill spaces I know I'll never even come close to filling. I just annotate the coin "copy". Looks better than an empty space!
    goossen and Randy Abercrombie like this.
  17. manny9655

    manny9655 Well-Known Member

    Since silver eagles are current mint issues, you need to contact the Secret Service. They are the government agency that deals with counterfeits. To the government, coins or currency that are not currently in circulation (like Morgan dollars) are not their concern. Also, to be considered counterfeit, the offenders have to be trying to pass it off as authentic. That's how a lot of them get around being prosecuted. Since you said that they were being advertised as .999 fine silver, you have a case.
    Inspector43 and Garlicus like this.
  18. Mountain Man

    Mountain Man Supporter! Supporter

    Most recently, individuals here in the United States are "resellers" which mean they advertise, collect the money, order the fakes from China to be sent directly to the buyer and then change their site and names to keep repeating the act.
    I hope your "learning experience" wasn't too costly. If your CC company isn't of any help, filing a fraud case with Las Vegas PD and maybe the Secret Service might help alleviate your pain a little.
  19. MacA2Z

    MacA2Z New Member

    Contact your CC company to process a charge back. The Better Business has No legal authority. You should contact the Consume Affairs department of your state. You can file a case there but to be realistic the amount of money involved is probably not enough get quick resolution.
    Last edited: Sep 20, 2020
  20. goossen

    goossen Senior Member

    This is called dropshipping. The business model is completely legal, but of course many people use it to sell dubious quality products in multiple online shops backed up with USA companies.
    There are tutorials online on how to create an US company from abroad and start your dropshipping business.
    Mountain Man likes this.
  21. Mr.Q

    Mr.Q Well-Known Member

    You are S... pot out of luck. Most departments and/or agencies do not have the resources or the time to assist in this type of complaint. Mark the coin as counterfeit and show it as often as possible to as many as possible. It's a great learning tool for not only you but for others also! I learned the hard way also long time ago. Sorry, my opinion only. Best of luck
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