Counterfeits: I was a tattle-tale at the coin show today.

That's the sad part , their reps should be tarnished more than they are as they have the resources to hire all the experts they need . If they can't or won't hire these people they shouldn't be slabbing the coins . JMHO . But the people wanted all these coins slabbed and the $$$ won out again .

 

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I think you underestimate the quality of some counterfeits. I think it's just like steroids in baseball...often times, the bad guys have the upper hand when it comes to cutting edge stuff. The TPGs do the best job they can. When they do discover they have slabbed a fake...they admit it and compensate the owner for it. That is why their reputation has not tarnished as a result. They guarantee their product.

I have never heard the claim that the TPGs won't hire the people.

 

I didn't know that. What law is that?

This is what I was trying to say. It's not that they won't hire the right people...it's that everyone can make a mistake and until a counterfeit is discovered as a fake, nobody will know. I would imagine when they do find they have slabbed one and have to "buy it" they probably study it.

 

I think you did the right thing. I also have to think he knew they were fakes. Why would he have said coins since he was a kid and now decide to sell them, and they just happen to be fake. Thats a bs story if I've ever heard one. I think he was taken on them and he was trying to recoup his loss by taking someone else. What a guy.

 

It sounds like it's not a law specific to coins/coin dealers but counterfeit merchandise in general?

 

glad you told on the dealer. He needs to know that those are fakes so he can't pass them off to others

 

No I pretty much have seen some very high quality fakes , most were from the Mideast (I think) mostly gold 1/4 and 1/2 eagle Indians , eagles and the Omega fakes . And now the newest generation of Chinese fakes . I still have a Trade dollar that I took to Harlen Berks to show Tom Delorey . He told me that he couldn't tell for sure if it was a fake as nothing jumped out as wrong to him , but he leaned to it being a fake but would need to do more sophisitcated tests to tell for sure . So if one of the top men in the US on Trade dollars couldn't tell it is a fake just by looking and comparing to other TDs they have to be 1st rate . Also we've been discussing some Trade dollars here recently that I wish anyone familiar with TDs would take a look at .
http://www.cointalk.com/threads/are-you-brave-enough.243061/page-3#post-1871756

 

I agree. The way I originally read your post was that there is a law specific to coin dealers. But, now I understand.

 

i remember seeing something about this recently regarding dealers licenses in CT or NY and the laws governing them. the article was about how bullion, jewelers, etc dealers have to photo ID, fingerprint, and hold for 30 days any metals brought to them. supposedly it combats junkies robbing people and flipping it quick for cash. however, the laws didnt just end there, there were penalties outlined for non-adhering, as well as penalties, benefits they currently enjoy and are losing, etc, and some of it was also about counterfeits being sold as genuine. if i remember correctly, it definitely held obligation to the dealer to verify the authenticity of any items he "puts his hands on".

my prior posts were simply regurgitating the common sense factor involved in that. if you are a dealer, and this is how you feed your children, you owe it to yourself, and are responsible to the person you sell anything to, to verify the authenticity of an item. my argument is that this should already be taking place, and it is just as of recent? that the laws are holding them to it. i mean, i wouldnt buy from a dealer that i heard had passed a fake off on someone, knowingly or not. he is either to dumb to verify something (and that doesnt mean he has to be an expert on everything in existence, just that if it is in his face, he needs to research it) or shady enough to scam someone.

 

I agree the guy knew. If I had a table and someone told me my coin was fake the first thing I would say is explain, not go away

 

No way to know for sure if the guy knew or not, but that he didn't ask for an explanation also makes me think he more likely did.

 

That was probably one of the dumbest replies anyone could give. OP should of countered with: "then you've had fakes since you were a kid".

 

So that dealer can still get a refund from whoever he bought the fakes from when he was a kid

 

I wonder if it includes counterfeit dentures. I found myself speaking Chinese, lately, but I never took it in school.

Chris

 

i bought a low grade, low priced 1861 S seated liberty half dollar over 2 months ago. i figured that the coin was a fake, so i sent it to a dealer that i know and he confirmed that the coin is a fake. the seller agreed to refund my money but he kept complaining about how much time it has been since i bought the coin from him. i told him that there is no time limit on fake coins being sold as genuine, he still doesn't seem to understand that. he has confirmed that he received the coin that i sent back to him, but i am still waiting for my refund.

 

relax bro you did the right thing...