Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

1953 "Sovereign" Forgery/Fake Anyone Seen One Before?

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 4 / Views: 169Next Topic  
Valued Member
United States
96 Posts
 Posted 01/24/2021  12:41 pm Show Profile   Bookmark this topic Add MasterKromm to your friends list Get a Link to this Message
So, every now and again, I check hibid for foreign gold coins... I stumbled across this "sovereign" (https://hibid.com/lot/85120-258084-...-gold-coin-) the other day and messaged the auctioneer explaining to him that the coin is a bad fake and there are no 1953 gold sovereigns - they simply weren't minted. Here are two pics of the coin, on the off chance that they hide the auction/results when it concludes ->



The coin has been bid up to $425 (not including buyer's premium). His response to my message is as follows ->

"Hello James,
Thank you for your interest and expertise. We have not tested the coin for authenticity and are selling the item "as is."

Have a wonderful Sunday!"

I have never had to report an auction house, but am thinking I might make an exception for this one. Any thoughts?
Pillar of the Community
United Kingdom
542 Posts
 Posted 01/24/2021  1:04 pm  Show Profile   Check PaddyB's eBay Listings Bookmark this reply Add PaddyB to your friends list Get a Link to this Reply
I don't know how it works in the US, but in the UK the auctioneers hide behind a combination of "Caveat Emptor" and the auction regulations. With a few exceptions, the auctioneer is entitled to sell under the vendor's description, and if that is wrong, the seller's case is with the vendor, not the auctioneer.
Clearly it is different if the auctioneer has come up with the description - though difficult to prove. In the UK the other factor comes from the Hallmarking laws - if the auctioneer is registered and describes an item as precious metal when it proves not to be, they are liable.
I have tried raising issues with obvious fake coins before now with various auctioneers, and got the brush off. The only answer is to boycott such auctions.
Pillar of the Community
United Kingdom
542 Posts
 Posted 01/24/2021  1:17 pm  Show Profile   Check PaddyB's eBay Listings Bookmark this reply Add PaddyB to your friends list Get a Link to this Reply
PS. In this case, I think anyone foolish enough to be taken in by the illustrated coin has only themselves to blame! One doesn't even have to know that no 1953 Sovereigns were struck - the fact that one has a 1953 coin with a Victoria portrait should alert anyone. Even if one's history is not up to that, the crude execution and the very non-gold appearance would be a final indicator.
Valued Member
United States
96 Posts
 Posted 01/24/2021  1:31 pm  Show Profile   Bookmark this reply Add MasterKromm to your friends list Get a Link to this Reply
@ PaddyB

I hear what you are saying, and agree that any collector should be able to spot such an obvious fake... Everything about the coin is wrong. It still rubs me the wrong way when an auction house has been informed it is an obvious fake and not even a gold fake, yet decides they are going to sell the coin anyway. All while claiming the coin is sold "as is" without any guarantee of authenticity. I feel any auction house that is willing to list an item it describes as "gold" should be held accountable when it is not gold... I guess if they had written "gold colored" or something they might have an out.

IIRC, for online only auctions (US), the descriptions of gold/silver coins/bullion have to be accurate. I am going to have my semi-retired attorney father take this up and look into it for me, from a legal perspective. Will let you guys know what I find out in the end.
Moderator
Learn More...
Australia
13544 Posts
 Posted 01/24/2021  5:44 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
This particular "coin" has a Greek legend on the obverse, wishing you a happy new year. It is therefore clearly a "Basilopita coin" - a replica coin manufactured for the purpose of inserting into a Basilopita, or "St Basils Day Cake", a New Year tradition in Greece. Gold coins are traditionally hidden in such cakes, and British sovereigns have been the gold coin of choice since the early 20th century, but obviously, if the family is too poor to use actual gold, then a gilt replica is in order.

It almost certainly isn't solid gold, and as such isn't going to be worth more than a few dollars.
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
  Previous TopicReplies: 4 / Views: 169Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.42 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05