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A Problem With The Word - Contemporary - Case In Point

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Pillar of the Community
swamperbob's Avatar
United States
5362 Posts
 Posted 06/22/2010  7:59 pm Show Profile   Bookmark this topic Add swamperbob to your friends list Get a Link to this Message Number of Subscribers
In an earlier thread I discussed the confusion the word Contemporary causes in relation to Counterfeits.

Counterfeits come in TWO primary types - forget all the subdivisions and subcategories. The first type are the ones that circulated at face value alongside originals (meant to defraud the general public). The second category are the Modern types made after a coin ceased circulating to fool the collecting or investing public. The circulating counterfeits are often referred to as Contemporary and the modern types are Numismatic.

But the key is that many or most of the circulating counterfeits were destroyed years ago leaving the remaining copies at times rather scarce. To me they have value based on their historical interest and scarcity. Contrast that with the flood of modern numismatic frauds that are anything but scarce - have never circulated and are a threat to the entire hobby of coin collecting.

Well, in several recent cases one seller has started identified Modern Counterfeits as "Contemporary". I believe that is because the seller recognized that Contemporary Counterfeits do get high bids at times. So now - every fake - is a "Contemporary".

Here are two auctions that are still running:

http://cgi.ebay.com/ws/eBayISAPI.dl...390211191170

http://cgi.ebay.com/ws/eBayISAPI.dl...390211194428

I am concerned that some collectors who might be interested in exploring the realm of "Legal" Counterfeits will be confused by these inaccurate descriptions and end up paying far too much for a modern nearly worthless forgery.

The two coins in question are modern (made in the latter part of the 20th Century - (with the 1783 possibly still in production) and neither was made for circulation.

Am I the only person bothered by that distinction?
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Darth Anarchus's Avatar
United States
1388 Posts
 Posted 06/22/2010  9:45 pm  Show Profile   Bookmark this reply Add Darth Anarchus to your friends list Get a Link to this Reply
I agree... This is a scary concept to grasp... It's seriously sad how the fakest crap in the world will sell if it's marketed right...
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swamperbob's Avatar
United States
5362 Posts
 Posted 06/22/2010  10:17 pm  Show Profile   Bookmark this reply Add swamperbob to your friends list Get a Link to this Reply
Darth Anarchus I agree with you and novice collectors are not alone in getting swindled. I was at my favorite coin dealer's place today and his partner showed me a bargain he had gotten from a walk in customer today. It was a 1767 Pillar Dollar from Mexico City. The customer - a fellow the dealer DID NOT KNOW told him it came from his Grandfather's collection which was assembled 50 years ago or more. The dealer paid $35 and thought he had gotten a real bargain.

It was COUNTERFEIT. A modern Chinese copy made of silver and it weighed 26.9 grams. But the dies were ground flat and the machining lines were obvious running on the fields literally extending side to side. All of the details were transferred from an original coin and were mushy.

So even dealers in the business are getting taken repeatedly.
Valued Member
United States
393 Posts
 Posted 06/22/2010  10:58 pm  Show Profile   Bookmark this reply Add tnwalker10 to your friends list Get a Link to this Reply
Swamperbob, thanks to your informative posts through the years, I figured out that I have no business determining on my own whether Spanish milled dollar coins are authentic. I love those coins but know too little about them to buy one ungraded. And I realize that graded does not mean it can't be counterfeit. Once again, thank you.
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