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 Replies: 7 / Views: 1,320 |
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Pillar of the Community
United States
3640 Posts |
An older gentleman who usually frequents my flea market table showed me an 1877 Indian today that he had bought a few months ago. He asked me to look at it without stating anything about it. It was in a regular flip and it had a nice even chocolate brown tone to it, Easy EF grade and a normal looking reverse. Size etc. was on cue. What jumped out on it was the smaller than normal date and also liberty. As well as the headband width which was very thin north to south. Other wise a pretty decent knockoff. I mentioned it to him (hate doing this) but ? He already knew it was a fake. Just wanted my opinion. I did not ask him how much or where etc. He did not mention either. He did though in the interim, send in in to PCGS. This man kno .s pretty well also and has a decent collection. PCGS just sent him the coin back raw. He had mentioned that he wished that he had showed it to me first before buying it. I hate it when this happens to nice honest folk. He was pretty cool and collected about it though. All that money wasted. I hope he goes back to the seller and at least try's to make it good. (seller) At the least he owns a nice learning tool. I am going to look at some of his other coins maybe next week and I will ask him if I can borrow the coin mentioned and take some pics. If they come out decent I will post here. Man, this gets my goat  |
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Pillar of the Community
United States
2757 Posts |
Thanks for sharing. It's always too bad when that happens. Sharing a pic of it can help lots of people though.
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Pillar of the Community
United States
3184 Posts |
thats too bad but to be honest, people need to buy slabbed vs raw
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Rest in Peace
United States
3039 Posts |
Actually this belongs in the classic coin forum but anyway, on the 1877, like most key coins, there are markers to look for.As mkman123 mentioned slabbed is the way to go for better coins. (Although now there are fake coins in fake slabs-AGHH - when will it end?)
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Pillar of the Community
United States
716 Posts |
Actually, I don't think it will ever end. As long as something has value there will be people who will try to take advantage by making counterfeits. It is our job as collectors to be vigilant, become educated in identifying fakes, and to keep one step ahead of the counterfeiters. This job will become even more difficult as the counterfeiters become even more sophisticated and produce even better fakes.
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Pillar of the Community
United States
1374 Posts |
Yeah, pretty bad feeling, huh? An easy diagnostic on the 1877 is the Shallow N in ONE on the reverse. Only proofs in 1877 had the bold N. Which, by the way, are relatively comparable in price. I'll be filling my 1877 slot with a proof when I get the chance.
We should all keep in mind they are not just counterfeiting key dates, like the 1866 I posted a few days ago.
Edited by Drsandman2
08/19/2012 7:27 pm
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Moderator
 United States
15433 Posts |
Agreed this is a sad story of what appears to be an honest collector deceived by a fake.  That said ... I disagree with the following ... Quote:
people need to buy slabbed vs raw Fakes will always be fakes ... and genuine coins will always have their own particular diagnostics to support identification for the folks willing to study and educate themselves. My view ... educate yourself on the specific coins you are seeking ... and then you as well can battle the counterfeit tide. David Take a look at my other hobby ... http://www.jk-dk.art |
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Pillar of the Community
United States
1374 Posts |
In light of nickelsearcher's comment, I would like to add that IHCs are particularly tricky for even PCGS and NGC. For example, Rick Snow has done a great job of pointing out their historically bad record at grading.
Also, counterfeit IHCs have been found in PCGS and NGC slabs. IMO, people need to learn what they are buying, use a loupe, and BUY THE GUIDES. One may think spending $100 on an attribution guide is too much, but these are generally the people who get gypped into buying fake and overgraded coins.
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Replies: 7 / Views: 1,320 |
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Posted 08/19/2012 5:42 pm
