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 Replies: 13 / Views: 1,321 |
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Pillar of the Community
United States
1026 Posts |
Just was reading the Coin World article on fake coins from china CRAP now even graded coins are not safe anymore unless you are an expert. But from what I read as long as you buy a coin that is newer than 1949 it should be OK as far as being a fake china coin, but how about other countries are they also making these fake coins. Looks like China is making hundreds of thousands of them CRAP |
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Moderator
 United States
16677 Posts |
Unfortunately that is correct. Chinese counterfeiters are not only marketing the coins, but also the PCGS slabs! So far, from what I've read, it is only certain type coins with the Trade dollar being high on the list. If I'm purchasing a key date, not only am I buying TPG, but I am also checking all cert. verification, and, find myself purchasing lower grade keys as of late (G-F levels). This is also where knowledge and knowing diagnostics is key. To my knowledge, these counterfeiters are not marketing lower grade keys, just MS examples thus far. I could be wrong but that is what I've read. By the way, these are selling left and right on ebay. ebay is doing nothing about it and looks like they won't anytime soon. Figure that one out ($$$$). swcoin.ecrater.com
Edited by vermontensium
03/01/2009 11:59 pm
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Moderator
Australia
16806 Posts |
Quote:
But from what I read as long as you buy a coin that is newer than 1949 it should be OK as far as being a fake china coin... Correct, in the sense that the Chinese government takes a dim view at people making fake communist China coins - that's illegal, and you're likely to be punished severely if caught. But making fake foreign coins or pre-1949 Republic or Empire coins is perfectly OK. Quote:
...but how about other countries are they also making these fake coins. Speaking very generally: Bulgaria and to a lesser extent Canada are notorious sources of fake ancient coins, and Poland was (back in the 1980's and 1990's) a notorious source of mediaeval and early modern European coins. Vietnam is an excellent source for fake Vietnamese coins, with the occasional French or American coin thrown in, and the Philippines seems to be a common "secondary source" for fake Chinese and Vietnamese coins. You will find the occasional fake coin made in the UK, or America, or Australia, or wherever else, but right now, nobody's outfaking the Chinese. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
 United States
1026 Posts |
Yes I quite ebay for this reason they make rules and do not enforce them like grading practices they still let all these basement grades on ebay and they said they would stop that. They should be shut down for allowing the fake china USA coins to flood there auctions!! |
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Moderator
United States
23731 Posts |
They are also producing fake German, Austrian, and Swiss Talers with dates ranging from the 17th to 19th centuries. The sad thing is that I see people buying these coins. As a rule for me if the seller is from China, or Hong Kong I will not buy anything.
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Bedrock of the Community
United States
20753 Posts |
Not long ago there were only a few counterfeit coins around. Usually the key and expensive ones. Then the news media jumped in and made sure the world knew how easy it is to make coins and push them off on people. Obviously, as with many other things, even counterfeiters can read and figured this is a great time for more fakes. Soon China joined in. However, the first fakes were probably made here. The 1909S VDB Cent and the 1916D Mercury dime were probably the most counterfeited coins on Earth. Then China jumped in with Dollar coins and now even slabs. I'm waiting for the first 2009 Counterfeited Lincoln Cent. My prediction is at the rate we are going that the goverment will soon oursource our monitary system to China since they make so much of it now. |
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Pillar of the Community
United States
3098 Posts |
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Are they also making fake bullion coins Yes they are. Not American or European, I don't think, but a unbelievable amount of Chinese Panda ones. **That's why you never NEVER NEVER NEVER NEVER buy bullion from ebay. Some fakes are quite good in my opinion. I've seen them in person at many dealers *well, sort of* in China.  I'm going back soon. Anyone need a 1804 Bust to fill their hole? |
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Valued Member
United States
311 Posts |
The Chinese have a long history of making unlicensed reproductions of every sort; it's just only in recent years that the smaller-scale coin forgers have had access to the U.S. market.
The scary thing is, we've seen how good some of the fake coins are... can you imagine how many counterfeit bills must be in circulation right now? Sure, we've had redesigns of the larger bills, but since they didn't demonetize the old design, it doesn't really begin to solve the problem...
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Pillar of the Community
United States
3098 Posts |
Well, you really really don't. In fact, there's no way to tell unless you have it in your hand. In fact today (about 30 min ago) I was to buy a gold panda, but I read the ebay guide *THANK GOD!* and then saw it was fake... I told the guy and he was a bit sad since it was a part of his inheritance. And as for burglars, ... hold... I don't know. Get a gun safe and bolt it to the foundation!  |
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Bedrock of the Community
United States
20753 Posts |
You know something. Our economy is really poor right now and many, many do not have jobs. So here is my solution to that problem and the China fake coin problem all in one. We start manufacuturing China money ourselves. We also flood their markets with our fake Chinese coins. Then we start making all kinds of things that are fakes and make them out of Lead and send them to China. We too could make batteries with names like Dinocell, Denocell, etc. Then of course lots of tools that are made to break the first time used and send them to China also.
Mostly billions of coins of China and don't forget we would have to mispell lots of things on them.
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Pillar of the Community
United States
3294 Posts |
Actually it would be easier since from what I understand, some areas don't really use coins, but paper money. A friend who went to China brought me back a 5 Jiao note (1/2 Yuan) which I think has a value of something like a nickel. I am sure they have bigger notes though. The problem is that China has hundreds of billions of dollars of American bonds, so we dont want to tick them off too much or it will affect the value of the US$
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Bedrock of the Community
United States
20753 Posts |
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Actually it would be easier since from what I understand, some areas don't really use coins, but paper money. A friend who went to China brought me back a 5 Jiao note (1/2 Yuan) which I think has a value of something like a nickel. I am sure they have bigger notes though. The problem is that China has hundreds of billions of dollars of American bonds, so we dont want to tick them off too much or it will affect the value of the US$
Your kidding of course. They have invaded our markets with probably many, many billions of dollars worth of junk, Poisoned toys, faked money, imatation drugs and you think a few dollars worth of bonds is a reason to allow this. |
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Pillar of the Community
United States
3294 Posts |
Calling the bonds that China holds a few dollars is like calling a nuclear explosion a firecracker.
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Moderator
United States
187582 Posts |
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Calling the bonds that China holds a few dollars is like calling a nuclear explosion a firecracker. Sad, but true. |
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Replies: 13 / Views: 1,321 |
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Posted 03/02/2009 01:19 am
