1800 Draped Bust Dollar - Page 4 - Coin Community Forum

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Dearborn Moderator United States 96936 Posts	Posted 07/29/2023 12:32 pm Well this is a good attitude to take after being taken like this, so now I suppose that this guy has lots of beer (or wild Turkey) to drink now. Collecting since 1972. Learning from then on "Tell me and I forget. Teach me and I remember. Involve me and I learn." - Benjamin Franklin 7070 type set coin count: 51/76 Uncirculated American Silver Eagles My American Silver Eagle Proof Collection Sacagawea Dollars Innovation Dollars Eisenhower-Dollars Kennedy-Half Dollars Washington-Quarters Roosevelt-Dimes Buffalo-Nickels 1938-2005 Jefferson-Nickels Lincoln-Cents Report this Post to the Staff
Pacificoin Pillar of the Community Canada 5397 Posts	Posted 07/29/2023 12:55 pm I am beginning to feel that the biggest problem in our hobby today is not the Chinese Counterfeits , nor the CBP that refuses to enforce inspections on counterfeit coins but rather it is the woeful lack of education and due diligence on the part of buyers . This post .a classic example Report this Post to the Staff
ExoGuy Pillar of the Community United States 4417 Posts	Posted 07/29/2023 1:35 pm @ Pacificoin - Your points are well taken. That said, who among us hasn't made a serious numismatic misstep like our OP? It's human nature to want to strike it rich, and at such times, impulses far too often result in temporary insanity. This phenomenon happens to educated folks, too. I think it helps to have a strategy and a mindset when it comes to coins and all things financial. Was it Dave Bowers who once said, "Buy the book before the coin?" I'd add: attend shows, join coin organizations, network with other collectors, participate in forums, etc. BEFORE buying the coin, TOO. I'm talking expensive coins here, not all coins. Edited by ExoGuy 07/29/2023 1:36 pm Report this Post to the Staff
Phil310 Pillar of the Community United States 1101 Posts	Posted 07/29/2023 4:01 pm Quote: who among us hasn't made a serious numismatic misstep like our OP? Very true. I bought a counterfeit 1799 bust dollar about 45 years ago from a reputable dealer for $ 530.00. I am very thankful that he refunded my money when an expert showed us the markers that ID'd it as counterfeit. We both got an education on that deal. Report this Post to the Staff
Pacificoin Pillar of the Community Canada 5397 Posts	Posted 07/29/2023 5:38 pm Indeed it does happen to even those of us with years of experience . The difference is that there are laughable Chinesecounterfeits like the the OP coin and deadly counterfeits , such as the Lebanon US Gold fakes imported back in the 1960s and 1970s. At least when you got burned there you still had the value of the gold! It truly amazes me after 45 years in business the amount of people who get involved with coins , nilly Willy throwing thousands at coins they know little about and wouldn't spend a nickel on a numismatic Book or publication . They reap what they sow I guess ! Report this Post to the Staff
ExoGuy Pillar of the Community United States 4417 Posts	Posted 07/29/2023 9:29 pm Consider that coins are but one of hundreds, if not thousands, of venues that folks are literally throwing money out the window. Stamps, gambling, modern-made antiques, sports cards, you name it. As do coins, all of these venues require serious study. One of my personal bugaboos is folks buying expensive electric vehicles; a HUGE waste of $$$, IMHO. It's only natural that those of us with advanced knowledge of coin collecting get more easily frustrated by the mistakes of novices. Were I in our OP's place, I'd take legal recourse, yet I can appreciate his wanting to quickly move on with his life. Considering the gravity of his recent error, I highly applaud his honest sharing of insight and willingness to continue numismatic pursuits. Darn the torpedoes, full speed ahead! Love it!! Edited by ExoGuy 07/29/2023 9:51 pm Report this Post to the Staff
kbbpll Pillar of the Community United States 4233 Posts	Posted 07/30/2023 02:35 am I think the reasons listed above are exasperated by the proliferation of "get rich from pocket change" type stuff that seems to be out there everywhere these days. It's nothing new - go back to Max Mehl in the early 1900s - but it currently preys on a wider audience. The proliferation of cheap counterfeits is happy to feed the trend. Report this Post to the Staff
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