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 Replies: 15 / Views: 2,500 |
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Bedrock of the Community
Canada
21606 Posts |
Here's a deal. A $50.00 Gold coin for only $32.00. I wonder if I could cash it in at the bank  The quality is about the same as the silver plated $8.00 Bison coins on an earlier thread. At least the seller says that it is gold plated copper in the fine print. 281828277288 |
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Pillar of the Community
Canada
5324 Posts |
This will be the next phase of problems when the banks willingly cash many 20 for 20 types and these gold coins turns out to be fakes. The RCM just doesn' take the counterfeiting issue seriously, waiting till they get bushel load of 100 for 100 and larger denominations. |
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Valued Member
United States
214 Posts |
I am pretty sure that the RCM didn't issue any gold plated copper coins that look deceptively similar to the gold maple leaf and with the same $50 face value, so I would expect the seller to eventually be arrested for counterfeiting. |
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Pillar of the Community
Canada
5324 Posts |
That's not the point, we all know the RCM didn't offer clad maple leaf coins but when the 20 for 20 types are counterfeited and redeemed by the banks for face value, then the tax payers will be on the hook on the RCM's lack of movement on this issue, you would think the crack RCM's legal team would monitor ebay. Edited by john100
10/19/2015 4:15 pm
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Valued Member
United States
214 Posts |
Law enforcement likely won't get involved until a bank gets stuck with a counterfeit. When they do, there will be a record of these idiots selling them on ebay, and that is when they will get busted. Bullion counterfeits normally don't get cashed in at a bank, so the counterfeits have a better chance of not getting caught, but when you sell a counterfeit gold maple leaf for 32 dollars, you increase the chances of it getting cashed at a bank for 50 dollars as well your chances of coming to the attention of law enforcement. This seller is also in Canada, not China, so he will be a lot easier to arrest. Edited by teo2015
10/19/2015 4:54 pm
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Pillar of the Community
United States
4963 Posts |
The 10 people who have already bought them will be fairly easy to find, as well.
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Valued Member
Canada
115 Posts |
wow... and I thought that the new security feature of RMC could not be duplicated... honestly, I would never pick up on the difference if I was to come across one like that...
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Pillar of the Community
Canada
2019 Posts |
Whats worst is that these clowns think its ok to sell or buy this junk in Canada. Quote:
According to Canada's Criminal Code (sections 448-450), making, selling and uttering counterfeit legal tender coins - both circulating and non-circulating - is illegal in this country; convictions lead to up to 14 years in jail. As such, the Mint works with law enforcement around the world to help quickly authenticate potential counterfeits.  http://canadiancoinnews.com/counter...-collectors/ |
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Valued Member
Canada
414 Posts |
The seller says it's plated copper and they weigh 31.1 grams, if that is true than the diameter will be much larger than a gold maple.
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Pillar of the Community
Canada
5324 Posts |
As in this case if the RCM asked the RCMP and CBSA to enforce their copyrights and Canada's counterfeiting laws these types of coins would not even enter Canada period, plus one nice letter to ebay would also end this type of listing, one can only conclude the RCM just don't care. What other business let their customers complain or worry about fakes, only the patent or copyright holders can start the legal proceddings |
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Bedrock of the Community
 Canada
21606 Posts |
Listing has been removed.
Interested to see if these coins pop up on another listing somewhere.
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Pillar of the Community
Canada
5324 Posts |
Unless the RCM get serious with this issue, these types of fakes will keep reappearing, when was the last time you have seen a fake Rolex or similar popular brand listed boldly as a copy or fake, never because these companies legal departments will sue both ebay and the sellers rear ends. Edited by john100
10/20/2015 10:47 am
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Pillar of the Community
Canada
2845 Posts |
Seems the word "restrike" is intended to legitimize counterfeiting. http://www.ebay.ca/sch/i.html?_odkw...ike&_sacat=0I agree, I can't understand why RCM does nothing to protect the authenticity of its product. What's next.......a phoney "restrike" Cdn $100 bill listed on ebay for $60? |
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Pillar of the Community
Canada
5324 Posts |
Part of the problem resides in the US where their Hobbies Act allow for clearly marked copy coins to be sold but the TPG are trying to amend the act but still in Canada, the law is simple these fakes are illegal, it's still up to RCM to protect their products |
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Pillar of the Community
Canada
2845 Posts |
Makes sense John. But I think the reason why Canada is considered a land of opportunity in terms of mint fakes is because these counterfeit/restrikes of originals appear with a stated redemption value, in most cases higher than the ebay purchase price. That suggests to me they are being intentionally marketed to folks, naive or otherwise, who propose to cash them in and make an instant profit. If the counterfeit problem has already become prevalent, seems RCM is caught between a rock and a hard stone because public knowledge of such would definitely harm their sales - considering many current buyers look to future opportunity in the secondary market and/or the advantage of quick liquidity at face value. On that train of thought, any act on behalf of RCM to limit counterfeiting may be interpreted as acknowledgement that indeed the issue is prevalent. Up until the BofC redesigned our currency, I don't think the public had any hint that we were amongst the highest of targeted counterfeit operations. |
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Pillar of the Community
Canada
5324 Posts |
The RCM has known about this issue for about decade for what ever reason they chose not to react, they have a legal team. I stand by the above statement, name a large branded company that does nothing to protect their patents and copyrights, a little of this is probably because we keep buying their products with 2/3 sellouts. As you can see in the last 24 months there is no secondary markets. One nasty letter from the RCM's legal dept. would end all ebay listing the largest marketplace for these items. Edited by john100
10/20/2015 12:54 pm
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Replies: 15 / Views: 2,500 |
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Posted 10/19/2015 2:52 pm
