Quote: This guy has no idea what he is selling, which means he has no idea what he bought.
If these coins are genuine, most are worth $50-250, each. They also happen to be the most counterfeited coins in the world.
This basically.
I won't be surprised if a few of the later coins are geniune (Taiwan in particular), but most likely all are fake. It also appears that they're mostly all the same size, which just makes them all fake by definition (because dollars and 20 cent pieces aren't going to be the same size, and this lot seems to feature many of either type).
IIRC, by Chinese law, it's 1) illegal to sell real antiquities to tourists, and 2) completely legal to make counterfeits of anything other than circulating Chinese money. This means that about the only chance that coins sold at markets could be real is if the market seller didn't know what he's selling either.
TL/DR: Chinese coins are good investment if you can prove they're real, but this lot seems to mainly consist of fakes.
All of these are fake. A message to everyone: Stay away from Chinese silver dollars unless you know what you're doing or if you know that the person you're buying from knows what he/she is doing. There are more fakes than genuine pieces.
Best word of advice - if you are interested in buying Chinese coins and do not have much knowledge about them, you are much better off playing the lottery and win something instead of buying some scrap metal at silly prices and lose out.
I went to Hong Kong last January and saw coins like this at the Peak shops, of course they were fake as they look caste. Buying fakes in the past, these look the same.
I have a reasonably large collection of Chinese coins, almost all are cash coins and bronze coins, with only about 20 silver coins.
I will not bid on this lot despite the fact that I am interested. The size of the lot makes taking the risk to a higher level than I am prepared to go. That, plus the fact that I would assume that they are all fake. Bid on the assumption that they are all fake. The video detail is just way too poor for me to make any other assumption.
However you never know, there is the chance that most of them could be genuine, but my inclination is not in that direction.
In this case it is bit like buying a lottery ticket. It's just that the price of the ticket is way too high for me, due to the size of the lot.
The thought has crossed my mind that they could be stolen; I also have vibes that the seller has no idea what he is selling.
My normal way of buying higher valued numismatic items or lots is to examine the lot closely before deciding to buy; in this case, the ebay process prevents this for me.
Bruce: I would advise for you to not bid on this lot with your admitted lack of experience in this area. The risk is just too great.
I bought a coin lot with some fake Chinese silver dollars, in the hopes that they were fakes in good silver (they weren't). That lot was limited in terms of risk because most of the 300 coins were genuine coins that were never counterfeited. I lost maybe $5-10 on that gamble.
Here, as others have said, the risk is too much. Of the 474 coins, I would be shocked if more than 50 are genuine. Some collectors will buy fakes as an educational tool, but nobody will take 400 off your hands unless you are giving them away.
He is not going to realize his reserve on this auction. If he wants to sell this lot, he needs to take a couple hours to do his homework first. If you can't be bothered to Google a coin, you have no business in trying to sell them for big bucks.
Why is everyone giving these coins a possibility of being genuine? ABSOLUTELY NONE of them are genuine. Don't waste your time or money. I'd be VERY surprised if ANY if these are genuine.
They claim that they went to China and bought these from the markets. If that's supposed to inspire confidence, sorry, but it doesn't. I can 100% guarantee you that coins bought under such circumstances will all be fake, because the probability of a casual tourist finding someone who is actually selling genuine silver dollar coins in the markets is zero.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Posted 12/20/2015 09:30 am
bruce and when someone says they don't know if the coins are real or not in the listing itself, it's not a good sign.
