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 Replies: 15 / Views: 3,631 |
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Valued Member
Canada
156 Posts |
I just found an ad on kijiji and someone says they have 30 Chinese silver Panda Bullion coins that they would like to sell for what is waaaaaaaay below spot. I don't think they know what spot price is, or even anything about coins. So my question is, are Chinese silver panda bullion coins a commonly counterfeited coin and if so what are the chances this guy has fake pandas? (weather or not he knows) A prompt reply as soon as possible would be greatly appreciated. Thanks   These are the images included in the ad. |
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Valued Member
Canada
57 Posts |
If it seems too good to be true it probably is. You never really see pandas for cheap and there are a lot of fakes around
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Valued Member
 Canada
156 Posts |
What things could I look for to identify a fake, other than use a magnet and check the weight?
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Valued Member
Canada
57 Posts |
I'm not an expert on pandas but weight and checking with a magnet should be your best bet. Also Google some pics to compare to
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Pillar of the Community
Canada
4944 Posts |
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Valued Member
United States
456 Posts |
I'm definitely no expert either, but if I were you I would take the year of the coin and look up differences between the fakes and the real ones online beforehand so you have an idea what to look for. I know the website Panda Collector has a lot of good info. I'm sure there are other good resources as well. However, like kswiss said, if it looks too good to be true. . .
With pandas, I would always be cautious. Good luck!
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Pillar of the Community
United States
3670 Posts |
The devil is the font detail.... There is an I-phone App (if you have one) which shows a detailed pic of both sides of every size panda ever minted via gold or silver or size and mintage numbers, I have it very cool.... But you need to do a google search for fake panda spotting tricks perhaps as well and find the tip off mistakes the con guys make.... PLENTY of fake pandas and as the old saying goes as mentioned above "If its looks to good to be true, well then it most likely is", very wise saying.... To assume he is so stupid to not even understand spot price is taking the "naieve angle" in the Coin World IMO.... Are they out there in large numbers who know ZERO about pms and spot absolutely via Joe Smoe who just had a garage sale and let 575 dollars worth of junk gold go in a box deal for 5 bucks. But not a guy selling on the fore mentioned I would think, steer clear without getting 100% confirmation of authenticity.... Tons of good threads here at CCF on fake pandas as well, a liabrary worth of info.... Edited by Silverhawk74
11/13/2012 11:32 pm
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Bedrock of the Community
13014 Posts |
Id stay far far away from those. Anything below spot is suspicious and Pandas are VERY common to have fakes. Put the two together and youll more than likely be hoping the fakes are at least made out of silver
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Pillar of the Community
Japan
666 Posts |
below spot?!
100 % fake!
at spot?! 99.99999% fake
real ones have a pretty high premium, and deals are pretty rare
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Pillar of the Community
United States
1200 Posts |
 Basebal & bekiz hit the nail on the head. Pandas (or anything else) for way below spot means it's time to run for your life. As always, "Caveat emptor!!" |
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Valued Member
Canada
156 Posts |
They haven't responded to my email and the add has been taken down. I wonder what happened?
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Pillar of the Community
United States
3670 Posts |
"They haven't responded to my email and the add has been taken down. I wonder what happened?"
I will tell you what happened, they bought some Pandas for a great price, discovered they were fake, and tried to pass the lemon on to you, there in getting back what money they could from the poor venture....
Realizing you had educated info probably, they decided to push the coins elsewhere perhaps, where they can find the less informed buyer most likely....
Edited by Silverhawk74
11/17/2012 1:35 pm
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Pillar of the Community
United States
3184 Posts |
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Pillar of the Community
United States
1200 Posts |
Being wary of Pandas in particular isn't a bad idea, but better to be more wary of super-great deals available online from not-major-league, not-nationally-known supply sources. I think I'm worlds safer when I buy from Goldmart, APMEX, Provident, etc than I'd be if I bought under spot-priced offerings from unknown names via online auctions or other such connections. I have made buys through ebay, but only with the utmost caution and never at any "deal of the century" price threshold. I'm never getting anything for 2/3 of spot but then again I'm not getting any tungsten, either... As always, "Caveat emptor." Edited by Fat Freddy
11/17/2012 3:04 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
Realizing you had educated info probably, they decided to push the coins elsewhere perhaps, where they can find the less informed buyer most likely.... Either that, Hawk, or... they got BUSTED! Hope they did. Good on 'em and all that.  |
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Pillar of the Community
Canada
1502 Posts |
Definitely fake,
The lettering on the obverse is off and the fur on the reverse is incorrect as well.
This is what makes the panda market exciting. Lots of landmines that selectively blows a hole in your pocket on activation.
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Replies: 15 / Views: 3,631 |
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Posted 11/13/2012 10:39 pm
