Should I be scared to buy slabbed Spouse or Buffalo from Ebay??

It doesn't take much to buy a real slabbed buffalo coin, take the buffalo coin out of slab and sell it. Then create bunch of knock slabs with same cert # and a fake buffalo coin. Go to various auction sites and sell it and profit. This is current trend right know, since not many people are going to bust open a slab to verify their coin is legit.

 

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Sounds like it wouldn't take much to create a passable fake of any slabbed coin, 1, 2, 3!

 

I'm thinking the most successful fakes would come from coins of uniform appearance, like Proof Eagles, etc.

Any coin less than AU would presumably have unique identifying marks and wear patterns, impossible to match.

 

There are very reputable on-line dealers. I do recommend that people purchase from whoever they might be comfortable with, but I prefer the on-line dealers because the cost of doing business with them is often less than going local. This is in part because I live in a state where there is local and state sales tax on bullion purchases and thus if I buy bullion locally I immediately take a 7.5% loss on it. Maybe this isn't an issue for the odd silver coin but when you are talking about several $1700.00 gold coins it's quite another matter entirely.

 

there should be a lot of slabbed coins being open and change an inferior one. then send that good one to slabbed again. this way they could make more money. beware of slabbed coins. don't buy them.

 

Sales tax on bullion is brutal. Sorry you live in a state that charges it. I guess you are really hoping they don't implement country wide tracking of sales, like they have talked about, where all states could track all sales into their state. Many people don't realize that if you buy from out of state you owe Use tax to your state if its a taxable item. The politicians are threatening changing laws to create a nationwide system of reporting sales to each state, that way your state would have hard proof of what you bought, and can audit accordingly.

It would be pretty brutal on internet and mail order businesses I am afraid.

Btw, I completely agree with Fatima there are many reputable online and mail order dealers. Many of them also run local shops, but also happen to sell nationwide. Nothing at all wrong with finding a reputable dealer and dealing with them only by mail or internet. One of the first dealers I ever bought ancient coins from I have never met, but have bought probably 100 times from now.

 

Yes you can safely buy coins on Ebay. 99% of the people there are honest and sincere. Check feedback and look for REPEATED patterns of negative selling. Despite all the criticism of Ebay, I have bought and sold an awful lot of nice coins, with NO negative experiences.

 

Look at all of your options. I have bought and sold coins on Ebay, on-line stores like Apmex and locally. I have had successes and failures at them all. As long as the seller is willing to honor his or her commitment, you will be okay. I personally prefer raw coins which makes it very easy to measure the coin to determine if it is real or not. Having said this, I've also from time to time purchased very expensive coins in slabs so I understand the concerns raised here. Button line for me is the return policy of the seller. If a seller will not accept a return, I generally will not make a purchase. Good luck.

 

Are faked slabs really that big of a problem? If the old line of "get that often coppied key date coin authenticated by a major TPG" is obsolete, then all bets are off. Now you just gotta trust your bookie!

 

Seriously? This is absolute nonsense. Slabs are not surprise packages (believe it or not, they are clear so you can SEE the coin inside) so why should people stay away from them and instead by raw? Have I missed the aligning of the stars and now all raw coins offered are legit and honestly labeled? You are basically telling people to choose the riskier route over the generally safer bet, and all because of a long-shot possibility. Talk about cutting off your nose to spite your face.

If you prefer raw and can buy wisely, good for you, but to tell others (matter-of-factly) to do the same who may not yet be able to do so safely, is ridiculous. If you believe a few bad apples spoil the whole bunch when it comes to slabs (at least top TPG), the same definitely can be said for raw.

That "big" of a problem? No, but they are out there, so are (or at least can be) an issue. Really, this is just all the more reason for one to know what they are doing before they buy, or to find a trusted dealer.




As for the OP's question, if "scared to death", this is your answer. We are not talking rarities here... such "coins" can easily be had at any time, so even if you are uncomfortable, why would you bother with ebay, especially if your goal is to save a few measly dollars?

 

Gotta love the US Mint Proof Buffalos :yes::hail::thumb:

 

the mint should seal all the capsule. just like the 1982-83 commemorative silver half dollar and one dollar. the capsule have to break it up. this way. we will know which coin is open or not. and there will be no unopen box to speak with.

 

That's what I do when I buy from anywhere except the US Mint.

I buy most of my gold coins directly from the Mint on the first day of sales. That's the best way (imo) and you always have a chance to receive a rare error or variety. :thumb: