Fake Coin Seller ID'd

Certification numbers and detecting counterfeit slabs is wonderful, but people should look at the COIN itself. Most pieces I see in counterfeit slabs have obvious signs.

 

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I wanted to chime in here for questions. My name is Charles and me and my wife own a coin shop in Iowa. We are the latest victims of the above mentioned Gabriel Garet Owen from Atlanta, KS. I am open for questions as long as you aren't rude and if deemed necessary I will contact the moderator. Thanks!

 

http://nypost.com/2014/12/25/congress-passes-law-to-curb-manufacturing-of-fake-coins/

New York Times article describing the revised law and also mentioning the man identified as Gabe "The Babe" Owen. He has hit shops all over the US. He used to be a professional pool player before he washed out and turned to beating working families out of hard earned money.

 

What did he sell you?

 

He sold two PCGS coins, 1822 Bust Dime and a 1799 Bust Dollar both XF45. Certification numbers both matched positive to PCGS database. He also sold a 1 oz. American Buffalo gold also presumed itself to be counterfeit. As of right now we are awaiting local and state levels to issue warrants and we have had considerable involvement with the Secret Service.

 

Charles:

Good luck!

 

Thanks for coming down to "talk" with us. The article said that the latest fakes are very good and have fooled many experts. How ARE they detected as fakes, then, if they are nearly undetectable?

Rob

 

I am certain a trained eye would catch this nearly every time. However, new dealers and numismatist may not have the expertise necessary to see through. The cases are a little telling, and after so many years you tend to rely on the PCGS/NGC certifications. If people make a full time job of beating you, they will in the end I guess. I will upload some photos as time goes on. We are still letting the detectives sort it out. Of course, you have to teach them a little about coins first. That coming from two people that just bought fake coins. LOL

 

I meant to tell you how we come to know them as fakes. We send our coins like these off to Heritage and there they have ex-PCGS/NGC certification guys on their dime. To be the best you have to BE the best. It was some bad news for us right at Christmas with three girls. They are all a part of this coin thing we do.

 

Charles, do you have a online site we all might be able to visit and view the coins you have for sale?

 

We don't. We can't keep enough inventory in to do it. We don't typically deal in the high end stuff most of you guys probably collect. edited

Sorry Charles, but we have forum rules that need to be followed. Please take the time to read them - https://www.cointalk.com/threads/coin-talk-rules.34131/

Also sorry to hear of your misfortune, and welcome to the forum.

 

I have a friend that has two shops in the area, he had one scam played on his employees, switching a coin, there were two young men in on the scam, was this guy by himself? When you were doing business with him did you get a gut feeling that something was not right? Was he nervous acting, or was he smooth. I hope that he has enough assets that your loss can be made good, I have heard of some people doing that kind of thing who had no need for the money, just stealing for stealings sake.

 

Wow. Sorry to hear about this Charles but thanks a lot for joining the convo here. Very interesting. Hope they nail this guy soon. Every shop should have a picture of him on the counter. No need for any explanation or details with it.

 

He came by himself. He called the day before and said he was in town to settle an estate. He was smooth. He is a pool hustler by trade. He really trumped them up. He has hit shops from CO to SC. At least 10 shops have reported him. I imagine most resell for a loss or sell with no knowledge. The number of counterfeit coins raw and certified in private collections is thought to be in the billions. Food for thought...

 

Welcome to CoinTalk Charles! I don't really have any questions for you, I'm just hoping the law catches up to that lowlife quickly so he doesn't ripoff any more hard working people. Post some pics when you're able.

I hope when he gets caught and sentenced they make him do something different like serve his sentence and then wear a sign that says, (I can't be trusted because I've been convicted of selling fake coins to honest hard working people)!! See how he likes wearing the truth.

 

Do you have images of the pieces that you would be willing to post? Perhaps the counterfeits have a common diagnostic/tell that could be exposed to prevent other people from being taken by whatever pieces are on the market that were produced by this guy.

 

Unless you have seen the slabs and coins in question you are casting blame without having any real information.