| Author |
 Replies: 8 / Views: 1,618 |
|
|
Bedrock of the Community
13014 Posts |
After seeing the video in the what do these numbers mean about the fake PCGS coins it got me thinking. How would you handle a fake coin if you found out or had doubts. If you sent it back into the TPG do they also alert the secret service or would you if you felt it was more than an honest mistake? *** Moved by Staff to a more appropriate forum. *** |
|
|
|
Bedrock of the Community
Australia
21788 Posts |
The secret Service would be driven around the twist if the TPG's reported every coin they considered fake. Their existing policies under the circumstances are OK. I collect fake coins PROVIDED they are sold to me as a fake. Why? I have learnt a great deal about the identification of fake coins just by close study of my own 'black' collection. If I see a coin that is posted here on the CCF that I consider to be a fake, I will not comment on it unless the initiator of the thread has asked for an opinion. The reason for this, has to do with the fact that in order to come to a reasonably considered opinion, you should really examine the coin in hand very carefully. How can you spot a fake, unless you educate yourself in knowing what to look out for? This is one of the important ways any dealer worth his salt becomes experienced in the identification of fakes. Even then, I will ask the originator of the thread some questions that will help him make his own assessment as the the authenticity of the coin in question, and perhaps add some comments for consideration. Edited by sel_69l
06/17/2012 11:56 am
|
|
Bedrock of the Community
 13014 Posts |
Definitely good points. Not everything could be reported but I feel that if they were sold as real knowing it was fake something should be said.
Thats actually a good theory on fake coins. I dont have much of a problem with them being sold, the secret service would probably disagree, but they should absolutely be labeled as what they are
|
|
Bedrock of the Community
 United States
12829 Posts |
So would a counterfeiter fake an old, rare coin to make a single windfall, or would they produce many bad dollar coins (or possibly quartersut) to try to spread the "wealth" out? Seems to me SS would be mostly interested in the latter but I don't know.
|
|
Valued Member
Australia
243 Posts |
From what I have heard, they target coins which command a premium, but arent rare enough to attract suspicion. For example, I remember reading that the Australian 1925 Penny is more commonly faked then the 1930 (A 1925 retails in VF for a couple hundred, whilst a 1930 in VF is worth tens of thousands of dollars). The reason for this is that a fake 1930 penny would attract more attention and scrutiny then a fake 1925.
|
|
Bedrock of the Community
13014 Posts |
Celtic I would assume they would be more interested in the person who made the extremely valuable fake, but if the mass producer is doing significant volume I think they would honestly go after both. They wont ignore the single coin if it has significant value, but even unvaluable coins in mass quantity can do damage and as a whole reach significant value.
Im sure they get flooded with reports and do try and look into them all, but we know at some point they have to start prioritizing as they dont have an unending supply of man hours
|
|
Bedrock of the Community
United States
20753 Posts |
Counterfeiters are all over the place as to what is to be made. For example look at how many of those 1943 Linooln Cents are replated. They are sold for only a few cents so it makes people wonder why spend the time and money to make a penny. There was a movie about a guy that made one dollar bills. He counterfeited them for over 20 years. Why a one dollar bill? Who checks those? Not all counterfeiters are excessively intelligent.
The thing about fakes is so many are really good. Possibly many collectors and dealers have one or more in their inventory and just don't know. Not all are made of rare of expensive coins.
|
|
Bedrock of the Community
13014 Posts |
Carl Id heard about that 1 dollar bill guy before. Its funny how if you stick to things like that you could more than likely get away with it for years, people just get greedy
|
|
Bedrock of the Community
United States
17884 Posts |
Quote:
So would a counterfeiter fake an old, rare coin to make a single windfall, or would they produce many bad dollar coins (or possibly quartersut) to try to spread the "wealth" out? Ask the folks in Great Britain where 1 out of every 33 pound coins in circulation is a fake. (Years back when they first started reporting fake round pounds the number was 1 in 200.) |
| |
Replies: 8 / Views: 1,618 |
|
Posted 06/17/2012 01:43 am
