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Dealer Sued for Selling Fake Slabs
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<p>[QUOTE="Rhino89, post: 1153822, member: 21773"]I read a little more about the recent problems with the fake slabs hitting the market and came across an interesting situation:</p><p> </p><p>What if people started putting genuine, completely authentic coins into fake slabs?</p><p> </p><p>The chances of that being caught by ANYONE are slim. The coin will check out, 100% authentic, and then the slab will say MS-64 on a MS-63 coin... or a MS-65 on a MS-63 coin... If you're VERY experienced at grading, you'll be able to tell it's over-graded. But what if you're just an average collector? You could be overpaying for coins in "fake" grades by THOUSANDS of dollars... you've all seen the differences in prices within the MS grades, no reminders needed there. Or how about all the coins that are getting rejected for AT? No problem, slip it into a new fake slab and problem's gone, it can be sold on ebay within 24 hours... add a "star" or "plus" designation on it while you're at it.</p><p> </p><p>I don't mean to be a doomsayer and "Negative Nancy" here, but as a community of collectors we are not rpepared to handle what may be in store. Counterfeiters are always looking for the next best scam - combining authenticity with counterfeit slabs is only years away, if not already being done, my friends.[/QUOTE]</p><p><br /></p>
[QUOTE="Rhino89, post: 1153822, member: 21773"]I read a little more about the recent problems with the fake slabs hitting the market and came across an interesting situation: What if people started putting genuine, completely authentic coins into fake slabs? The chances of that being caught by ANYONE are slim. The coin will check out, 100% authentic, and then the slab will say MS-64 on a MS-63 coin... or a MS-65 on a MS-63 coin... If you're VERY experienced at grading, you'll be able to tell it's over-graded. But what if you're just an average collector? You could be overpaying for coins in "fake" grades by THOUSANDS of dollars... you've all seen the differences in prices within the MS grades, no reminders needed there. Or how about all the coins that are getting rejected for AT? No problem, slip it into a new fake slab and problem's gone, it can be sold on ebay within 24 hours... add a "star" or "plus" designation on it while you're at it. I don't mean to be a doomsayer and "Negative Nancy" here, but as a community of collectors we are not rpepared to handle what may be in store. Counterfeiters are always looking for the next best scam - combining authenticity with counterfeit slabs is only years away, if not already being done, my friends.[/QUOTE]
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