High Price For An Altered Common Coin

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Author	Replies: 6 / Views: 1,689
swamperbob Pillar of the Community United States 5362 Posts	Posted 03/03/2010 09:18 am An auction ended on ebay that involved a common low grade late date Charles III 8 Reale from Mexico. It has been altered to read 1733. The auction description is accurate - the coin is a G-VG before being altered. It has a book value of $50 or so. But it sold for $177.50 - triple the actual value. http://cgi.ebay.com/ws/eBayISAPI.dl...150418763970 Just in case the picture is removed - here is dated side of the coin itself. Just wondering if anyone else finds this unbelievable? The date change is not even done well. Report this Post to the Staff

goossen New Member Paraguay 19 Posts	Posted 03/03/2010 11:37 am On these cases I wonder if the buyer wants it because he/she believes is real or just want it as an "invest" (to find another fool and sell it for more money) Report this Post to the Staff
Halfwitty Pillar of the Community United States 1523 Posts	Posted 03/03/2010 12:52 pm I would say if they are paying that for an altered coin they plan to sell it off as a genuine example. Report this Post to the Staff
jakeW Pillar of the Community United States 689 Posts	Posted 03/03/2010 6:57 pm can someone get in any trouble if they sell it as a real coin? Report this Post to the Staff
jfransch Pillar of the Community United States 1801 Posts	Posted 03/03/2010 9:56 pm The coin would never fool a serious collector (wrong Ruler, very poor date alteration) so no one is going to be able to sell that off for a very large gain. I also wonder why people pay these amounts for obvious fakes. Maybe the collector who bought it has great collection of Pillar Dollara and now finds humor and joy in acquiring fakes. Report this Post to the Staff
turtleoverhead Pillar of the Community Australia 585 Posts	Posted 03/04/2010 06:58 am First of all, there isn't such thing as 8 Reales for $50 and it's a kind of curiosity, why not? Report this Post to the Staff
DVCollector Bedrock of the Community United States 10045 Posts	Posted 03/04/2010 2:26 pm There must be a budding cottage industry to churn out these things. Report this Post to the Staff
	Replies: 6 / Views: 1,689

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