Chinese Connection

By the way, if you are going to buy coins in China, always ask for at least 3 pieces of authentication, one of them at least from a university. But... anyways you are going to pay a hefty price. (I think a real VF Fat Man dollar goes for about 300RMB ~$45 because of so many fakes)

So... bad deal if you're selling from China, but selling to does create a lucrative profiteering opportunity.

Jim, this might interest you:
BJ, it is odd that your write-up, about the coins (FAKE), should come out just as I had three dollars, a commorative Ellis Island,1986-P ans a pair od others, 1799 Flowinghair dollar, and a Seated Liberty, 1844. I posted photos, and specs, (that I had available), so that others will know just how prevalent this bogus trade is! All tyhree of the dollars are CuNi, and are magnetic. The weight is low, due to the fact they are NOT silver. The SL, and LH both weigh 19 grams, while the Ellis Island weighs 26.73 grams. This last weight is approximate, as I don't remember exactly what it weighed. It is posted in both the CC.com, and CCF forums, with a word to the wise. There is no indication of them being "Replicas", or the word "COPY" on any of them. I advised my D-I-L not to sell the coins, as they are fakes. She gave one to me, one to her youngest son, and kept the other. "Mine" is in a flip, well marked "FAKE" on all sides. My question, now is, "should these be reported? They were given to the cashier in the School District Restaurtant, where the Police, and City workers eat. I suppose there are outsiders that eat there, as well. She says she has no idea who paid with them. When shw cashed out the register< (I imagine), she found them, ans exchanged money th retfieve them. She knows I collect coins, and that is how I came into possession of them, temporily. What do you suggest?
Dick
I posted the Ellis Island Comm. dollar on /coppercoins.com, and later had a chance to take pictures of the three coins. None of these are "slabbed. M<y suggestion is to carry a magnet with you to check any coin that is "supposed" to be genuine.
There is no use "boycotting ebay, because they could care less, nor would it do any good to do the same with Chinese numismatic products. There is just too many who "could care less", and will take the risk of selling them.
Dick

I could see these fakes affecting the value of rare coins as they become more and more realistic.

Not because people think there are more real coins available, but because less and less people will be willing to buy a rare coin for fear that it is counterfeit, and therefore less general demand for rare coins.

I agree that we can never have enough topics on FAKES and Replics stamped or not. I am no expert grader by any means and can't judge a coin exceptionally well by looking at a picture online, as many fakes, cleaned, wizzed, ect. that are out there few sellers indicate such in their auctions. I shy away from buying any raw coins from ebay. If I buy from ebay it is ANACS, PCGS, of NGC certified with over 99.5% positive feedback rating (I look over problem transactions and see the sellers reaction). Some sellers will accept returns on certified coins. It is sad that getting a "certified coin" from PCGS is no longer a 100% gurantee that the coin is genuine. The only defense is to educate yourself and fellow collectors if you intend to keep from getting ripped off.

If they keep buying silver, and upgrading the quality of the blanks to where they are the same specs, then it becomes a question of what is "fake", and what is not. I would, for the meantime at least, also add the magnet to the inventory of tools for searching. I thought these were sandcasts, but reading a bit more about what is going on, I belisve the dies are being made from sandsasts, and the working dies are pressure molded. Coppercoins , (Chuck), has an interesting post in this regard, on coppercoins.com. Who knows, one day they may get so good, they can't be told from the geniune, and become all the same. That will allow all collectors to "complete their sets, without any holes. The collection won't be worth much more than bullion value, but will be "complete"! By then, who will use money, anyway?
Dick

I say we starting minting fake Chinese modern coins and sending those over to China.

Don't look for any help from the Secret Service. Beth Deischer, the editor of Coin World spoke at the EAC convention aweek ago Saturday on the topic of th Chinese counterfeits and she told us that the last two Secret Service agents with training in the detection of counterfeit coins have now retire and there is now no one in the SS with specific expertise in counterfeit coins. We are now better trained than they are.