Counterfeit Chinese coins

[times-change]

There are currently Chinese dollar coins being sold in counterfeit PCGS holders. The coins have the correct description on the label, the holder is nearly identical to an authentic PCGS holder and the number above the barcode is correct but if the barcode itself, the QR code on the reverse and the photo of the coin is compared to the PCGS photos on the PCGS verify page it is evident they do not match. I have contacted eBay and PCGS as well as the AFEC concerning these counterfeits, but as of today, 8 of these counterfeits have sold and the listings remain posted and have bids. Be aware if you are buying slabbed coins, the counterfeiting techniques are improving, and close observation of every aspect of the coin and holder is required. Novice collectors often depend on the integrity the NGC and PCGS names to feel comfortable with purchases. Counterfeiters are actively working to undermine the integrity of those names and the confidence of collectors.

[couturehomecollection]

So sad. Thanks for the head’s up. 

[sapphire_studio]

Yeah a few years ago I got a counterfeit gold buffalo coin in a fake pcgs slab on mercari. His pictures were not very good and when I got it in hand and I compared the look of the coin to what it should be and it was pretty obvious it was fake. It was my fault for thinking I could get an ounce of gold for like $600. I never made that mistake again. I was able to return it and get refunded.

[maxine*j]

And as soon as eBay takes one down, another pops up. 

There is NOTHING that the Chinese are not counterfeiting.  The world is awash in Chinese counterfeits, fakes, forgeries, reproductions, replicas, copies, knock-offs, imitations, pirated, or lookalikes of every sort -- coins, postage stamps, electronics, OTC medicines, clothing and accessories, car parts, fountain toys, DVDs, CDs, fountain pens, and every kind and type of antique, antiquity, and art. 

One's only protection is to keep one's wits about one, know one's onions, and refuse to be taken in by those deals that are too good to be true.  If one still sends up with Chinese phony rubbish,  open an Item Not As Described case with eBay, do not let the Chinese sellers stall past the return date (at which they are masterful), and get one's money back.

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[waxu_93]

😙pity

[maxine*j]

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@waxu_93 wrote:

😙pity

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Yes, it is a pity.  The Chinese have an ancient, remarkable, and refined culture.  They value learning, are brilliant in the fine arts, and are nonpareil in technology.  (They invented porcelain, gunpowder, paper-making, the compass, movable type, the mechanical clock, and the list goes on and on, after all.)  Chinese people are smart and hardworking.   And with all that, now they expend their intelligence and vigor and cleverness to give the world container-loads of fraudulent rubbish.  It is a crying shame.

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[sonomabarn67]

I see it as a necessary evolution to dovetail with their survival in the marketplace. Part of it is the dumbing down of the American consumer; many simply don't care as long as it fills a space in their home for a cheap price and Chinese craftsmen/women are quick to adapt to those trends. Like injection laser printing which will become a "thing" in the antiques market shortly once they figure the proper weight ratios...

[maxine*j]

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@sonomabarn67 wrote:

I see it as a necessary evolution to dovetail with their survival in the marketplace. Part of it is the dumbing down of the American consumer; many simply don't care as long as it fills a space in their home for a cheap price and Chinese craftsmen/women are quick to adapt to those trends. Like injection laser printing which will become a "thing" in the antiques market shortly once they figure the proper weight ratios...

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I can't disagree with any of that, especially the "dumbing down of the American consumer" part.  

A person has to be dumb to pay enormous prices for sneakers, handbags, sunglasses, tee-shirts just so s/he can say s/he did and then to act as a moving billboard to advertise the stuff when its worn.

People have to be dumb to think a cast iron doorstop or bank is a "rare antique" when there are 137 others just like it for sale just on eBay alone, or to think a book can be signed by someone although published and printed after his death.

It is dumb to think that without any study or effort, or even any real interest, come to that, that one can "invest" in coins or stamps or antiquities.

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[couturehomecollection]

I did a quick Google search that PCGS put out a warning about this in 2008. They advised: 

PCGS recommends consumers consider the following any time they make a coin purchase:

1. Verify the certificate number using the PCGS Cert Verification program at http://www.pcgs.com/cert/
   See limitations above
2. Avoid purchasing rare coins from eBay sellers in China.
3. Investigate the legitimacy of the seller (examine feedback; avoid low feedback sellers; find out how long the seller has been in business; do they have a good reputation?; do you have legal recourse in case of a problem?).
4. Make sure you have a money-back guarantee that is enforceable (for example, credit card companies will often assist in cases of fraud).
5. Realize that "bargains" in numismatics are usually too good to be true.
6. If you have a question about a particular coin, be sure to have it checked out by an Authorized PCGS Dealer or by PCGS before the expiration of any guarantees.

Request an immediate refund if the coin you purchased turns out to be a counterfeit.  

Here is a video on fake PCGS holders.  
 Here is an article on the threat to collectors posed by 

The Newer Fake PCGS holders

Hope this helps.  

[mjslarue1]

I would like to see more being done from Ebay and something like  a easy way to flag fake listing. Example, silver eagles selling lower than a reputable shop can and the shipping takes longer indicating its coming from China...

We also need the Government to go after them as hard as they did the Norfed dollars (what a misdirected waste of resources).

Remember, if it's to good to be true it ALWAYS is!