| Author |
 Replies: 12 / Views: 1,292 |
|
|
Pillar of the Community
United States
1116 Posts |
reading the july 2009 edition of coinage I just wanted to quote some interesting information from the article and here your opinions. Quote:the proliferation of counterfeit and misrepresented coins on ebay is a growing problem. at the same time cooperative efforts to police the situation are withering away. legal challenges discord over what strategy to use and a break down in the relationship between ebay and the ANA have left the hobby without a framework to protect unwary buyers personally I think ebay can care less if they sell fake coins because if they remove them that is less money in there pockets. Quote:about 40 percent perhaps even as many as half of all coins offered on ebay are counterfeit, misrepresented, toned or altered. it has gotten progressively worse most of the coins I buy are 100 dollars and under. so while I think that lowers my chance of getting a fake coin I know it does not eliminate it I am seriously thinking of not buying coins or currency on ebay no more as I am sure many of you have done already. do you ever think some of the coins you own could be fake? while we all are pretty knowledgeable about coins there is always a chance that some fakes have slipped by are eyes since the market is being flooded with them and the chinese have become so good at it. Quote:fuller held his nose when he knowingly bought a fake complete set of Morgan dollars on ebay for 96 dollars including the rare king of morgans the 1895 proof fuller brought the set to an arizona coin show where knowledgeable coin dealers offered him $35,000 dollars for the set.before he broke the news to them that they were fake. very scary stuff imagine how many people are doing this and not telling people they are fake. Quote:there sole priority is maximizing profits and ebay will only take action if it appears that it will threaten profits sadly I agree with this. Quote:
right now there are thousands and thousands of fake coins in peoples coin books that they will never know are fake until they have to sell off there coins most of my collection is not worth a whole lot. I think my most expensive coin is 200 dollars I sure hope I don't have any fakes. |
|
|
|
Locked
822 Posts |
Quote:there sole priority is maximizing profits and ebay will only take action if it appears that it will threaten profits Absolutely ridiculous and whoever at Coinage wrote that should have their head handed to them because they're clueless. http://www.ebay.com/ccwReports there during normal hours, 99% of the time, will result in removed listings within hours. Off hours may take a day. I get literally hundreds of listings removed every week very promptly. |
|
Bedrock of the Community
United States
10284 Posts |
I agree that ebay would ignore fakes to get the final value fees. Caveat emptor ( Buyer Beware! ) pretty much since day one on ebay. Unless the buyer complains, ebay and Paypal gladly keep the money. I agree that there are tons of fakes and altered and misrepresented coins on ebay. The figures Coinage gives seems exaggerated, but they have their advertising dealers to promote, and want readers to buy from them instead. |
|
Valued Member
United States
183 Posts |
Hah haha. You think this is an ebay problem? Not when a dealer offers you 35k for a bogus set of morgans. Wherever and whenever I see raw coins, I tread very lightly. A higher price is well worth the knowledge that what you've got is real and *resellable*. A consensus is often needed, be it at PCGS, NGC or Stack's as to a coin's authenticity. It's easy to slip a fake or whizzed coin past a buyer if it's a type coin, a higher priced piece will beg greater scrutiny... or not depending on how greedy the buyer is. No, There's no such thing as a 1909-S VDB thats real and free of problems for 25 bucks... but people fall for this crap all the time. And not on ebay. Kinda reminds me of that little sentence in Breen: "Authentication recommended" :D Bruce |
|
Pillar of the Community
 United States
1116 Posts |
good job scubu keep up the good work  |
|
Bedrock of the Community
United States
20753 Posts |
When you consider that on ebay there are objects like an half drunk bottle of water, one worn gym shoe, a dead fly, piece of cake 55 days old and even some odd things. So why worry about fakes, counterfiets, bogus anything. Just ignor ebay. Purchase some equipment and start making your own coins and slabs. Then you know where they came from.  |
|
Pillar of the Community
United States
1116 Posts |
i once saw a huge dead beetle on ebay in the weird and unusual section of the site it went for $50  must of been a rare dead beetle |
|
Bedrock of the Community
United States
10284 Posts |
Honest to gawd, my friend came by yesterday from the farmers market with yellow squash that look just like those things you see hanging from some of those fancy souped-up pick-em-up trucks bumpers. They are even about the same size! I told him he could get a lot for it on ebay but we opted to take a couple pictures instead. I am not kidding. Here's the picture!  |
|
Member
United States
917 Posts |
I watched an auction ending tonight for an empty apple pie box , the description tells how the seller ate the pie for breakfast and now the empty box was up for grabs..the bidding was up to $8
|
|
Pillar of the Community
United States
4085 Posts |
Quote:about 40 percent perhaps even as many as half of all coins offered on ebay are counterfeit, misrepresented, toned or altered. it has gotten progressively worse Not to downplay the problem, but there's a big difference between "counterfeit or altered (as in added a mintmark)" and "misrepresented or toned" (I assume they mean artifically toned since all coins tone). There are a huge amount of modern coins for sale that are none of the above; there are large quantities of more common Lincoln cents that are none of the above; there are large number of copy coins that are sold as such. I think the 40% number is high - at least when talking about fakes. I think overgrading is a problem but that's not just an ebay problem. It's still a real coin, though. I do worry about counterfeits but also believe if you have some knowledge - and as someone mentioned above - buy certified or from a trusted source when you get into the more valuable coins - you can mostly get by ok. Ken |
|
Pillar of the Community
Canada
4227 Posts |
There's no doubt there's a problem (a huge problem), but as the media tends to do (hey, I'm a writer!), they've made this article a little sensationalistic, as many have pointed out here.
|
|
Pillar of the Community
Canada
1248 Posts |
wheezydog I believe your friend should try ebay with this "thingy" fins a very "descriptive" fraze as title, like " too nice to BBQ" etc... sure looks good.. |
|
Bedrock of the Community
United States
10284 Posts |
Quote:wheezydog I believe your friend should try ebay with this "thingy" fins a very "descriptive" fraze as title, like " too nice to BBQ" etc... sure looks good.. Thanks, I think they were a riot but are perishable. Probably not allowed to cross certain state borders as produce. If he didn't make them into some sort of holiday dish yet, is there a way to preserve them in a jar? LOL!  Pickle them? Sorry for hijacking the topic. I just couldn't help myself. Anyways, they or it, is preserved here for now. |
| |
Replies: 12 / Views: 1,292 |
|
Posted 07/03/2009 3:30 pm
