Counterfeit PCGS 1889-CC Morgan Dollar

Greetings fellow numismatists,

After some time surfing the internet, I stumbled upon something that was quite a shock. Now, I have heard of Chinese counterfeiters producing fake PCGS and other grading company slabs, but never thought much of it. Today however changed the way I see the counterfeit coin industry. A known online counterfeit coin store,
link here: http://www.aliexpress.com/wholesale?SearchText=coins&catId=0&initiative_id=SB_20130417172801
is selling this coin,
link here: http://www.aliexpress.com/item/PCGS-AU50-1889-CC-Morgan-coin/666985659.html
A PCGS graded 1889-CC Morgan Dollar supposedly graded at AU50. Real AU50 1889 carson citys normally go for around $5000, but these sell for a fraction of the normal cost. He not only is selling this, but also has listed many other rare key date coins from the U.S and around the world. This coin does not have the word "copy" distinguishing it from the real deal. Are these photographs of actual coins, but the seller sends something completely different? Are these going to be flooding the market? Should we be worried? Or is this just old news? Feel free to share any comments or opinions.

Thanks,
CoinMike747

 

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This is why you don't buy from sketchy auction sites like "ali-express"

But wasn't there a phony PCGS '89-CC discussed in a thread here not long ago?

 

Agreed, I stick with my LCS or the occasional eBay.
I am pretty sure there was not a thread on a graded 1889-cc, but in fact there was one on a raw 1889-cc that someone purchased.

 

This is actually old news. Coin World ran a two-part interview with one of the biggest counterfeiters in Shanghai back in 2008. In the article he explained that Chinese law requires them to put "REPLICA" (rather than "COPY") on any coins that are sold outside of the Asian market. So, to avoid having to do this, all of the coins are sold to Asian distributors. Once the coins leave his "factory" he is absolved of any wrong-doing according to Chinese law.

Chris

 

Thank you cpm! Well, this about closes this thread up

 

Are counterfeit coins ever silver, I have a morgan with copy on it, I'm not sure but I think it's currency from commerative gallery?

 

Yes. Sometimes fakes are made from silver.

 

Yes, high quality counterfeits are often silver. Some are even silver and appear circulated.

 

If yours has "copy" on it, it's not a counterfeit but simply a novelty piece.

 

And he says exactly what it is;

I doubt that is what you really get, but at least he say it is not original.

 

They are photos of what he is actually selling. They have been flooding the market for several years. Yes we should be worried, Yes it is old news.