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Burnsville, Minnesota Coin Dealer Indicted For Fraud Scheme

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nfine's Avatar
United States
3353 Posts
 Posted 04/18/2018  12:29 pm  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply

Quote:
Except most of the sites hosting those websites are not in the United States, and what they are doing is not illegal there. So what they are doing is NOT against the law.


Okay, so what would passing yet another law accomplish?
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SPP-Ottawa's Avatar
Canada
10438 Posts
 Posted 04/19/2018  09:11 am  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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chafemasterj's Avatar
United States
6498 Posts
 Posted 04/19/2018  10:08 am  Show Profile   Bookmark this reply Add chafemasterj to your friends list Get a Link to this Reply
Thanks for the article link. That's the first I've heard of counterfeit PCGS holders. Doesn't surprise me a whole bunch sadly.

Like I mentioned before, this guy made his bed and now must sleep in it.
Check out my counterstamped Lincoln Cent collection:
http://goccf.com/t/303507
Pillar of the Community
Australia
852 Posts
 Posted 04/25/2018  12:54 am  Show Profile   Bookmark this reply Add nealeffendi to your friends list Get a Link to this Reply
Thank goodness Collectors Universe is going after a fraudster. A hard penalty against this scum will make others think twice about getting involved in peddling fakes.
Almost impossible to shut down the source (China) and it isn't hard to get fakes shipped to anywhere in the world and then sent on to the US (or in my case, Australia).
Pillar of the Community
United States
717 Posts
 Posted 04/25/2018  11:19 am  Show Profile   Bookmark this reply Add HoboNickelCarver to your friends list Get a Link to this Reply
Good to see that someone who is cheating people is being penalized.
Bedrock of the Community
United States
10284 Posts
 Posted 04/25/2018  11:43 am  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
Happy Happy Joy Joy!
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4504's Avatar
United States
379 Posts
 Posted 04/29/2018  09:49 am  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
Call me paranoid, but I would never buy a coin that came from China. I have bought many coins from foreign countries... Australia, England, even the middle east. I once bought a bunch of 1940's "silver" USA dollars in the Philippines. I was positive they were fake, in that it did not make sense to buy a 1 ounce silver dollar for less than 3 dollars each when the spot price was around $15 at the time. The seller even had a magnet if you wanted to check them. I sent a few to friends in the Philippines, where they were listed as replicas or something of that nature. As far as the rest, I dumped them in the trash just before I left that country, but this was because I felt I might have problems with USA airport customs with the fake rolex watches for my personal use and for friends that knew they were fakes/replicas because I told them, I bought them for about $5.00. There was no doubt between the seller and me that they were replicas, I think that you are allowed one or two replica items of differing products into the USA as long as you declared them, which I did. Can you believe that watch broke within 4 weeks after I bought it hahaha. That being said, someone once in China hijacked my ebay account and changed my contact and password information so I could not log on and boot him off, these were in the days when you could not call ebay. So I emailed and I emailed and I emailed ebay, it took several weeks for them to fix the problem. In the meantime, the Chinaman sold dozens of new "$1,000+" retail price fake designer purses for about $150 and represented them as real. All the people needed was to see my 100% positive feedback and that I was a USA seller to get them on the hook. The kicker is that before ebay finally stopped the problem, I started getting positive feedback from delighted buyers who felt they got a very good deal from buying "real" purses for a tenth of their real "value" or listed retail price, a few of the buyers even bought one or two more of "my" purses as gifts after receiving theirs! Perception is reality in these buyer's minds. These purses were so well copied that it would have taken an expert to spot them as fakes, so why could they not do the same with coins? This also applies to "graded" Chinaman coins because of the fake holders being around, altho I know it is much harder to convincingly (no obvious signs or clues as to them being fakes) fake a coin than a purse.
Edited by 4504
04/29/2018 10:16 am
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