With some sadness, I need to add aspencoins to the list. I had always considered them to be a top
ebay seller, with a great selection, $.99 starting bids on all coins, and fast delivery. Their listings have enlarged photos/scans that hide nothing.
However, a recent contact with them has changed my view, and I think it only right to caution the membership here. I have, of late, been fascinated by the tales and coins of micronations, recognized or not. One coin that I have coveted is the very scarce 1972 Principality of Sealand $10 coin, featuring Princess Joan on the obverse.
Aspencoins offered this coin in each of two recent auction runs during the past month or so. They come up so rarely, and I was outbid (read: sniped) on the first one, not expecting to see another one offered anytime soon. Within a week or two, they offered another one, and I was more determined than ever to make it mine. I bid early and bid a relatively high maximum bid.
As I tracked the bidding over the first couple of days, I looked more closely at the photos/scans provided. I couldn't at first put my finger on the problem, but sensed that something was "off" about the coin. I looked up the previous ended listing and saw that the coins were not the same. Since these coins are routinely selling for $125-$140 or more, I began researching for known forgery issues with this coin. I came across the following article at the link below: fao-coins.info/faofake/forgeries.html (about halfway down the page).
The photos in the article were exactly the images used in the first and second listings respectively. The left hand image is of the authentic coin, the image to the right was deemed to be counterfeit, and a poor one, at that. Note the differences in the detail of Joan's hair. The image is different. The face and proportions are different. And there is an obvious difference in the details of the waves surrounding the ship on the reverse.
I contacted the seller, aspencoins, with the link, pointing out that they have been selling two different coins, the same as pictured. I withdrew my bid due to serious questions about the coin's authenticity.
The seller brushed it off, stating that they had handled a half dozen or more of these coins over the last 30 years, and are familiar enough with them to know they are all authentic. I urged them to look at their own photos and the differences between the two they were selling. One must be a fake, if one is good.
They responded that a leading authority (unnamed) of modern world coins, at the recent Orlando coin show, stated that there were, indeed, two issues struck around the same time. That was good enough for aspencoins to avoid reconciling the discrepancy.
But not good enough for me. With all due respect to whatever level of expertise this unnamed dealer has obtained, credentials are never a substitute for facts and verifiable evidence. So I went to the source and began electronic correspondence with (Prince) Michael Bates, the son of the founder of Sealand.
I explained the situation to him, and forwarded him the same link that appears here and that I sent to aspencoins. He told me that Sealand has been "robbed blind by the numismatic world." He further informed me that there was only one authorized, licensed issue, minted in Mexico by way of a US company. He stated he knows of fakes produced by Austria, and a number of fakes from China appearing on
ebay. He added that the ORCA series was licensed, but that they have not seen a penny, and neither have the whales for whom the proceeds were to benefit. Upon further questioning, he identified the photos on the left (from the above link) as the authentic ones.
Now having the final word from the source of the coins itself, I thought the issue would be quickly settled. I wrote aspencoins with this information and received the following response, in its entirety: "Yes, I have received your emails and have researched Sealand and its coins extensively. We will continue to use the Bruce Unusual World Coins as our reference. According to Wikipedia, The Principality of Sealand is an unrecognised micronation. Irrespective of its legal status, Sealand is managed by the Bates family as if it were a recognised sovereign entity, and they are its hereditary royal rulers. Prince Michael may be an expert regarding "his principality" but we consider the numismatic world to be the defining source for our references. Thank you for your time researching this matter."
This is is the same logic that would go with information in Krause over that of the US Treasury for
US coins, because the publications are more expert in numismatics than the actual source of the coins.
I question their business ethics. It appears that they would rather rely on credentials (their own and their consulted expertise) than recognize the evidence provided. After all, I am not credentialed. And they have a potentially huge monetary gain to protect by adhering to this self-serving approach.
To me, ignoring the facts for gain is theft. It is theft of those who buy the coins that the dealer refused to pull, and it is theft from Sealand.
I apologize for the length of this missive, but I thought you should know.
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Posted 01/03/2011 5:01 pm
