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 Replies: 28 / Views: 3,833 |
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Valued Member
United States
333 Posts |
It was really a dumb mistake. I don't know anything about Trade dollars and I thought I was getting a deal. Nope. This time it was only $50. In comparison to other mistakes, this was nothing. I already contacted the seller and I will meet him in about a week to bring it back and (I'm assuming) getting my money back. |
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Pillar of the Community
United States
4778 Posts |
Ouch! Hopefully the seller will show up and give that refund. I admit, I don't know much about Trade dollars, but what I do know, is that with pricey coins like Trade dollars, research is key. Before going for another Trade dollar, find out what are the indicators that make one a fake. Compare pics of a known fake to a real Trade dollar to familiarize yourself. And keep up with the prices for them also, so you'll know which deals sound too good to be true, and so you won't get ripped off. And if you have any questions, you can always ask here on CCF  |
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Valued Member
United States
361 Posts |
Trade dollars are one of the most counerfeited coins out there. They have been making fakes for many, many years.
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Pillar of the Community
United States
1348 Posts |
Its sad but if you know your stuff you can get a raw one for a decent price.
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Pillar of the Community
United States
8904 Posts |
Quote:
It's sad but if you know your stuff you can get a raw one for a decent price. You had better know a lot. The Trade dollar fakes are so good, I, personally, am not buying one without a slab. Period. (And that's being careful for a fake slab as well). |
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Valued Member
United States
227 Posts |
Been holding off buying that one cause of all the fakes. Hope you get your money back.
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Pillar of the Community
United States
3184 Posts |
This is why I tell people to stick with slabbed coins vs raw ones.
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Pillar of the Community
United States
580 Posts |
Sorry to hear. Same thing happened to someone close to me but on a much larger scale. I follow the motto "if it's too good to be true."
Hope you get your money back. Please keep us posted.
How did you realize that it was fake?
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Pillar of the Community
United States
3276 Posts |
I too prefer raw coins.... But when I buy a Trade dollar for my 7070, I'm definitely getting a slabbed one. |
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Valued Member
 United States
333 Posts |
How did I realize it was fake? I bought it in a deal with a bunch of other coins. He said he had it and I managed to get him to toss it in after some haggling for a very modest sum. I went home to my RedBook to look things up and I realize that it isn't even a date for the Trade dollars. They started in 1873, not 1872 like mine is. It would be simple enough if I knew even the slightest bit about these things, but of course I didn't because I honestly had no intention of ever buying one. I've heard of much worse stories, though, so hopefully the small amount of cash on this one prevents me from a bigger folly in the future. |
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Pillar of the Community
United States
580 Posts |
Why do counterfeiters go through so much trouble faking coins, and get the dates wrong? Crazy! Hopefully you get your money back. If not, at least you gained knowledge with this experience. Good Luck.
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Pillar of the Community
United States
927 Posts |
I guess the counterfeiters are good at making fake coins but they really know little about the actual coins they are faking. But they know that there is someone out there with even less knowledge about the coin and will buy it anyway. Hopefully someone who is spending a lot of money (more than $1000) for a coin will do some research before buying to avoid the fakes. But at that price it better be slabbed anyway.
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Bedrock of the Community
United States
14454 Posts |
you can get raw versions of the Trade dollar but there is allot to ding so. First you need to be able to recognize the characteristics of the original and the fakes and be able to determine what you are looking at, second you need to be able to trust the dealer or person you are buying from. Third always have a iron clad return policy. These coins have been counterfeited from just about the first day they were put into circulation and circulated right along side the originals, so it can take years to be able to spot the real good forgeries (and even then I would still have to refer back to #2 and #3 above). If you do not know how to determine the forgeries I would stick with the graded examples from the top TPG's and even that may not be 100% that its not fake, it is just an experts opinion that it is not fake and there is a guarantee that you can fall back on if it does turn out to be fake. The major TPG's have slabbed quite a few coins that were actually counterfeit before they finally got a few coins in at the same time with the exact same characteristics on each of them which made them inspect them closer (the micro O Morgans comes to mind) bu the guarantee is where the piece of ind comes in |
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Pillar of the Community
United States
1510 Posts |
only 50 dollars? that is still alot to get hosed on--hopefully you will get a refund where did you get it?
Retired USAF 1983-2003
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Valued Member
United States
333 Posts |
It was from a jeweler friend of mine. Long story short, one day I walked into his shop to see if he had any silver eagle and after 30 minutes of talking to him I was in the back room relaxing with him. I've been buying from him every few weeks. Sometimes I'll get some common date morgans, other times some silver eagles or even foreign silver. He said he had a good deal for me and it would have been if the darn coin were real! The real thing that stinks is that I bought it as part of a deal. He tossed in a lot of old rolls of pennies for an inflated price. I might be able to squeak to even on the pennies if I unload them one by one and take the time to sort them, but I was really counting on the Trade dollar to keep me ahead. Live and learn. Edited by BuffaloBonehead
08/22/2011 7:04 pm
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Pillar of the Community
United States
1304 Posts |
If he was a friend of mine and after he found out the coin was fake, if he didn't return my money he wouldn't remain my friend.
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Replies: 28 / Views: 3,833 |
Posted 08/21/2011 5:43 pm
