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High Price For An Altered Common Coin

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Author Previous TopicReplies: 6 / Views: 1,685Next Topic  
Pillar of the Community
swamperbob's Avatar
United States
5362 Posts
 Posted 03/03/2010  09:18 am Show Profile   Bookmark this topic Add swamperbob to your friends list Get a Link to this Message Number of Subscribers
An auction ended on ebay that involved a common low grade late date Charles III 8 Reale from Mexico. It has been altered to read 1733.

The auction description is accurate - the coin is a G-VG before being altered. It has a book value of $50 or so. But it sold for $177.50 - triple the actual value.

http://cgi.ebay.com/ws/eBayISAPI.dl...150418763970

Just in case the picture is removed - here is dated side of the coin itself.

High-Price-For-An-Altered-Common-Coin

Just wondering if anyone else finds this unbelievable? The date change is not even done well.
New Member
Paraguay
19 Posts
 Posted 03/03/2010  11:37 am  Show Profile   Bookmark this reply Add goossen to your friends list Get a Link to this Reply
On these cases I wonder if the buyer wants it because he/she believes is real or just want it as an "invest" (to find another fool and sell it for more money)
Pillar of the Community
Halfwitty's Avatar
United States
1523 Posts
 Posted 03/03/2010  12:52 pm  Show Profile   Bookmark this reply Add Halfwitty to your friends list Get a Link to this Reply
I would say if they are paying that for an altered coin they plan to sell it off as a genuine example.
Pillar of the Community
jakeW's Avatar
United States
689 Posts
 Posted 03/03/2010  6:57 pm  Show Profile   Bookmark this reply Add jakeW to your friends list Get a Link to this Reply
can someone get in any trouble if they sell it as a real coin?
Pillar of the Community
jfransch's Avatar
United States
1801 Posts
 Posted 03/03/2010  9:56 pm  Show Profile   Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
The coin would never fool a serious collector (wrong Ruler, very poor date alteration) so no one is going to be able to sell that off for a very large gain. I also wonder why people pay these amounts for obvious fakes. Maybe the collector who bought it has great collection of Pillar Dollara and now finds humor and joy in acquiring fakes.
Pillar of the Community
turtleoverhead's Avatar
Australia
585 Posts
 Posted 03/04/2010  06:58 am  Show Profile   Bookmark this reply Add turtleoverhead to your friends list Get a Link to this Reply
First of all, there isn't such thing as 8 Reales for $50
and it's a kind of curiosity, why not?
Bedrock of the Community
DVCollector's Avatar
United States
10045 Posts
 Posted 03/04/2010  2:26 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply
There must be a budding cottage industry to churn out these things.
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