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 Replies: 22 / Views: 2,968 |
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Bedrock of the Community
United States
36832 Posts |
Even common date coins are now counterfeited in China. Be careful buying bulk silver coin lots. Some of the junk Chinese stuff may be mixed in with the good coins.
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Valued Member
United States
180 Posts |
Man I get a little quesy thinking about it.
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Pillar of the Community
United States
2044 Posts |
There are a lot of fakes in ancient coins as well. Most fakes can be easily spotted if once again you know your coins well enough.
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Pillar of the Community
United States
4132 Posts |
Depends on the series, but key dates of any series are quite commonly faked. Fake common-date Morgans are common. There are tons of fake Trade dollars. For 1916-D Mercury dimes and 1909-S VDB cents the fakes (usually added mint-marks) might be more common than the real thing. In my specialty, Mercury dimes, I haven't seen fakes of common dates, and fakes aside from 1916-D (which must be bought certified) seem rare. I know there are fakes of 1921 and 1921-D, but they tend to be easy to spot because the numerals of date had a unique and easy to spot for that year. I know of fakes of 1925-D with an added mint-mark, but I haven't ever seen a fake 1926-S which seems like an obvious target too. Fakes of the 1941/2 and 1941/2-D over-dates are common but tend to be easy to spot because the diagnostics are not difficult. Edited by CaptainFwiffo
07/25/2012 4:16 pm
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Valued Member
United States
150 Posts |
I went to a local coin shop once, bought a 1914 D Barber Half (which doesn't exist) for spot price thinking it was rare. Then, I asked the owner what it is, he said a counterfeit, and took it. Didn't offer a refund, or anything just replaced it with a random Barber from the bucket.
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Bedrock of the Community
13014 Posts |
And thats when you should have demanded a refund and if he didnt give you one called the cops
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Pillar of the Community
United States
1193 Posts |
One thing I've learned.... Basebal is a lefty just like this guy.  and DON'T mess with him  |
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Bedrock of the Community
13014 Posts |
Lol I just wouldnt ever want to deal with a dealer whose going to react to a counterfit like that. Could be reading it wrong just get the impression that seems to happen a lot to this guy how he didnt say anything or like he was hoping to get away with it and got caught
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Pillar of the Community
United States
5854 Posts |
In general, counterfeits and alterations only make up a small percentage of all coins though some coins are more prone to counterfeits and alterations than others. Unfortunately that percentage has been increasing lately and depending on where and from whom you are purchasing from, your odds of purchasing a fake can be much higher. To give you an idea, PCGS publishes statistics showing the number of coins they have graded, crossovers, number of problem coins, and number of warranty claims. According to them, out of the nearly 2 million they have graded in the last 12 months, 5541 were returned as questionable authenticity. In the last 30 days, around 123,000 were graded and 526 were returned as questionable authenticity. That gives percentages of 0.28% and 0.43% respectively. The percentages when it comes to raw coins would probably be a bit higher since I would think some of the coins would have been screened before submitting. For those who would like to see those statistics, the link is below. http://www.pcgs.com/statistics/ |
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Bedrock of the Community
13014 Posts |
The cross over success rate if for the coins that kept their same grade right?
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Pillar of the Community
United States
5854 Posts |
I am not completely sure but I think it is if they graded the coin at least what you stated as the minimum grade.
Edited by D0ubl3Eagle
07/25/2012 9:05 pm
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Bedrock of the Community
13014 Posts |
Thats a pretty terrible success rate overall. Seeing that answers my question of whether or not trying to cross some army half 70s over would be worth the risk
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Bedrock of the Community
United States
17884 Posts |
You can't cross 70's. You have to give them permission to crack them out and treat them as a raw submission.
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Bedrock of the Community
13014 Posts |
My understanding was you can cross 70s you just cant say 70 is the only grade youll take. Were probably actually saying the same thing just in a different way
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Bedrock of the Community
United States
20753 Posts |
Quote:
In general, counterfeits and alterations only make up a small percentage of all coins though some coins are more prone to counterfeits and alterations than others. The real problem with that is no one really knows how many or what has been counterfeited. For every one known, there could well be hundreds or even thousands in collections and in dealers inventories. Most people do not send in every coin they find or buy to a TPGS. And many times I wonder if those can really tell all fakes since a TPGS is just people hired to do a job. But if other countries, China is not the only one, are producing faked US coins, there could be many, many in collections without anyone knowing for sure. I used to know a dealer that was in the buisness for a real long time. He had a 16D Mercury dime he thought was real. Finally he sent it out for grading and it came back a fake. He sent to another TPGS and it came back graded and slabbed. So many fakes are popping up every day I wonder why we just don't have China make all our coins now. |
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Replies: 22 / Views: 2,968 |
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Posted 07/25/2012 2:58 pm
