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Replies: 34 / Views: 4,226 |
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Pillar of the Community
 United States
7375 Posts |
I did sell it for $100. I had $40 in it. Not 100% comfortable with the sale, but thought it was ok to do in this case.
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Pillar of the Community
United States
1314 Posts |
Let me offer two perspectives. Hypothetically... My car has a bad transmission. Suppose I sell it locally with full disclosure. If some Yah-Hoo buys it and adds saw dust (you have to really old to understand that reference,) then re-sells it for a quick flip profit, how can I be held accountable? Practically... I've been burned. And I find that until I find the perfect way to divest myself of these acquisitions, they comprise my collection of counterfeits. Not really proud, but definitely wiser. And they make for great teaching tools. 
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Pillar of the Community
Netherlands
847 Posts |
To be honest. I would off trown my fake 2 coins aswell in the trash. How can it be that someone wants to have such an ammount for those coins. I don't understand. And how you can decide for sure for example how old the copy is? And if it is nice for an collection or not? I've got this dollar I posted Recently. Dollar 1843. I did trow it away I thought in first place. But when I saw it was still there I posted here. But for me that is just a coin when I don't collect it to gave away if someone buys for example over 100 euro coins from me. Just as an extra. I did read it before that some people pay alot for an copy but that don't make sense to me. Ive got an nurnberg fake aswell. Looks very nice. Did not know it in first place. IF possible I will post it in these days aswell. If you see that coin for sale you will probably buy it like I did haha. Sometimes they really good copys.
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Pillar of the Community
United States
8517 Posts |
Makes me wonder if the buyer has someone lined up to sell it to. Why else would he pay a hundred bucks for a coin he knows is fake ?
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Moderator
 United States
23522 Posts |
Quote: Makes me wonder if the buyer has someone lined up to sell it to. Why else would he pay a hundred bucks for a coin he knows is fake ?
That's my thought as well. A true counterfeit collector knows darn well they've no intrinsic value, and even the rarest of contemporaries should carry very little "premium." As CoinsKelly said, it's not what's in your heart but what happens once it leaves your hands.... That's why I'd never unload a counterfeit once it's in my hands, except to a known specialist. The coin discussed here is - to me - certainly about to become bait for an uneducated buyer.
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Pillar of the Community
Canada
5417 Posts |
Hmm... it's very likely that the coin will be used for nefarious purposes. However, to be honest, If I was offered $100 for a modern fake that I bought for a lot less, I'd take it. My logic is, there are so many circulating already and most of which are pretty convincing Chinese counterfeits, the fact that you're selling a fake with full disclosure is OK. I myself, have only one fake, which I bought knowingly. An 1806 Draped bust half that's pretty much un-identifiable to anybody but a seasoned collector, I bought it for melt value at a coin show, it's th right composition, doesn't stick to a magnet, has edge lettering and everything; my point is, better replica's always exist, now they even put great fakes, into great fake PCGS slabs with great fake PCGS cert's, you can buy them on Alibaba.
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Pillar of the Community
United States
8517 Posts |
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Bedrock of the Community
United States
20753 Posts |
Someone I know had a camera that was a stolen one. He purchased it at a flea market not knowing it was stolen. At a camera show he sold it. The buyer found out it was stolen, turned over the name of the person that sold it to him to the police. He was arrested and had a heck of a time trying to prove where he got it. The moral of my story is you are selling something that is illigal. Although the person buying it knows, the person they sell it to may not. Eventually they may find out and have it traced back to you as the seller of fake coins. Not a good situation to get involved in for that amount of moeny.
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Pillar of the Community
Canada
5417 Posts |
Quote: Someone I know had a camera that was a stolen one. He purchased it at a flea market not knowing it was stolen. At a camera show he sold it. The buyer found out it was stolen, turned over the name of the person that sold it to him to the police. He was arrested and had a heck of a time trying to prove where he got it. The moral of my story is you are selling something that is illigal. Although the person buying it knows, the person they sell it to may not. Eventually they may find out and have it traced back to you as the seller of fake coins. Not a good situation to get involved in for that amount of moeny. justcarl makes a good point. To be honest, is that's your coin, it's not a very good fake IMO. I've seen many better fakes. And many better fakes are easily available for $1.5 w/ free shipping on AliExpress. I don't see why he'd pay so much for it... Makes you really question what he's up to. But if you're willing to take the risk, well it's an easy $100 so...
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Pillar of the Community
 United States
7375 Posts |
Yeah, I figured I'd take a bit of a beating over this one. What another person does with a coin, or stated fake coin, or anything for that matter, is none of my business. In the past year I had to return (out shipping costs) several expensive coins that were obviously misrepresented. Also returned a counterfeit coin. Never received another coin I was supposed to receive, and the seller was going to try and scam me. I felt this was a unique case, and I originally had the coin listed in an auction, and removed it because I became convinced it was fake. The buyer contacted me, and we had several conversations and I told him everything about the coin. They promised it was for a filler. Will they ever sell it...maybe. I sold something with full disclosure, and what the buyer does with it eventually is his business not mine. There are a million things sold in the world safely and over the counter that can be used for nefarious purposes, but that is not the retailers responsibility, it's each individuals. Like I stated in my original post, I tossed one away already....and I chose to sell this one. I also mentioned that I wasn't 100% comfortable with the sale. 80% comfortable was good enough. Frankly I'm not a coin purest, and I can understand how my actions would be rebuked by many. I do collect some things, but my main purpose is investing. FWIW I also HATE counterfeit coins being sold on ebay as genuine, and I average one report every few days to ebay to try and have them taken down. I also message sellers when they have mis-listed or misrepresented a coin. IMO I do my share to fight the proliferation of fakes on ebay. Let's be careful how many stones we cast. Every time you see a fake coin for sale on ebay and don't report it.....
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Pillar of the Community
United States
6370 Posts |
I was at a coin dealership and they had a tray with miscellaneous stuff in it, including a really worn 1803 dime. When I asked about it, he said it was a fake. I offered to buy it as it was silver, but he wouldn't sell it to me. That dealer was Jonathan Kern.
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Pillar of the Community
Canada
2781 Posts |
Quote: 80% comfortable was good enough glad your investment worked out & thank you for doing your part in helping to ruin other's
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Bedrock of the Community
United States
20753 Posts |
Quote: There are a million things sold in the world safely and over the counter that can be used for nefarious purposes, but that is not the retailers responsibility, it's each individuals. Every day I see people speeding in cars. They pass me like I was standing still. I just know that if I did that, I'd be the one with a speeding ticket. Same with selling a fake coin. Yes there are possibly millions sold all the time and the sellers just laugh. It's just that twist of fate that if you do it, your the one that ends up in jail.
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Pillar of the Community
 United States
7375 Posts |
Isn't it legal to sell a replica coin as long as you don't sell it as genuine?
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Pillar of the Community
United States
9792 Posts |
Quote: Isn't it legal to sell a replica coin as long as you don't sell it as genuine? I'm not a lawyer! But my understanding is NO not unless the coin is stamped in copy or replica according to the Hobby Protection Act passed by Congress in 1973. Note there is an amendment that passed Congress last year and is waiting Senate approval that makes it a crime to counterfeit the TPG certification slabs, and or import coins and certificates including slabs into the US for purposes of selling fakes! Here is the full Hobby Protection Act of 1973: https://www.federalregister.gov/art...otection-act
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440
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Replies: 34 / Views: 4,226 |