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Chinese source of counterfeit coins seeks US listing
derryb
Posts: 37,630 ✭✭✭✭✭
Alibaba, a massive Chinese e-marketing site, currently has an application before the US Securities Exchange Commission seeking to be listed on Wall Street. For those not aware, Alibaba is a major source of counterfeit coins and most likely counterfeits of many other type products. It is where Chinese manufacturers sell their wares over the internet to the rest of the world.
Fake Gold eagle on Alibaba
Fake ASE reverse proof of Alibaba
Members who wish to let the SEC know that this aspect of Alibaba's business should be closely scrutinzed and corrected before allowing them to be listed on a Wall Street exchange can contact the SEC via email at chairmanoffice@sec.gov
An email to your Washington representatives would add powder to the keg.
This might well be our best chance of fighting the wave of Chinese counterfeit coins.
Fake Gold eagle on Alibaba
Fake ASE reverse proof of Alibaba
Members who wish to let the SEC know that this aspect of Alibaba's business should be closely scrutinzed and corrected before allowing them to be listed on a Wall Street exchange can contact the SEC via email at chairmanoffice@sec.gov
An email to your Washington representatives would add powder to the keg.
This might well be our best chance of fighting the wave of Chinese counterfeit coins.
No Way Out: Stimulus and Money Printing Are the Only Path Left
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Coin Club Benefit auctions ..... View the Lots
No Way Out: Stimulus and Money Printing Are the Only Path Left
Lori Schock....maybe it will help.
bob
<< <i>I'm not 100% sure but I think Alibaba is just the sales platform..... not the vendor selling the fakes >>
They are just as guilty.
<< <i>a "source" of fakes means they manufacture them. For that matter, why not get Ebay delisted as they sell fakes. >>
This
"Seu cabra da peste,
"Sou Mangueira......."
No Way Out: Stimulus and Money Printing Are the Only Path Left
Your links on Alibaba show search results to hundreds of dealers with counterfeit U.S. coins.
One dealer is offering a gold plated gold eagle that has a tungsten based core and is the correct weight, diameter and thickness. These have the potential to fool most gold buyers, pawn shops, we-buy-gold stores and coin shops. I have seen multi-thousand or even tens of thousand dollar deals done in gold eagles, maple leafs or krugerands with only a quick look at each coin. People have trusted that they were good as gold.
If the counterfeits can pass a size and weight test, will each gold coin have to be authenticated each time it is sold?
This is just for the bullion coins. This affect us all and has the potential to devastate coin collecting.
<< <i>a "source" of fakes means they manufacture them. For that matter, why not get Ebay delisted as they sell fakes. >>
And where do you think those fakes are coming from?
<< <i>Those gold eagles look so bad. The Reverse proof pictures aren't big enough to tell if they're good or bad looking. >>
You're right, they do look bad. But there are many others selling counterfeits on Alibaba and some of them are very good. That is why I was more concerned about the tungsten alloy. Having the size and weight correct takes away the easiest way to detect a counterfeit.
<< <i>
<< <i>a "source" of fakes means they manufacture them. For that matter, why not get Ebay delisted as they sell fakes. >>
And where do you think those fakes are coming from? >>
Not from Alibaba jr.
This thread is just stupid and naive.
<< <i>
<< <i>
<< <i>a "source" of fakes means they manufacture them. For that matter, why not get Ebay delisted as they sell fakes. >>
And where do you think those fakes are coming from? >>
Not from Alibaba jr.
This thread is just stupid and naive. >>
Don't be so naive. As stated earlier Alibaba is the chinese counterfeiter's gateway to the west. Just out of curiosity are you a buyer at Alibaba?
No Way Out: Stimulus and Money Printing Are the Only Path Left
They will take you to museums, and parks, and monuments, and kiss you in every beautiful place, so that you can never go back to them without tasting them like blood in your mouth. They will destroy your collecting desires in the most beautiful way possible. And when they leave, you will finally understand, why storms are named after people.
peacockcoins
to Alibaba's sales platform. If they get directly into the U.S. market, it will be a free for all and could do nothing but damage to an already fragile hobby. JMO
<< <i>I did hear Alibaba mentioned on a business show report recently. FWIW, I sent an email to the SEC address in your first post and I would encourage others to do so. Many of the links provided by fellow forumites lead back
to Alibaba's sales platform. If they get directly into the U.S. market, it will be a free for all and could do nothing but damage to an already fragile hobby. JMO >>
They are already directly available to the US market. Purpose of the email to SEC is to have SEC question their business model and hopefully force them to fix it before allowing their stock to be sold on Wall St. Since the chinese government won't crack down on them this is an opportunity for the US government to do so.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Thanks for bringing this to our attention.
Here's a warning parable for coin collectors...
i'm glad to see the optimism. i'm not as confident our or any government wouldn't push or usher a company forward knowing full well it had illicit activity within its ranks.
i am also a fan of people fighting things through the proper channels. so if your actions and actions of others can thwart that company from selling those stupid products and/or stop it from being listed, i wholeheartedly support you!!!
.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I don't trust Chinese Accounting. There are US companies doing business in China that can get you the China play such as CLCT
<< <i>I did hear Alibaba mentioned on a business show report recently. FWIW, I sent an email to the SEC address in your first post and I would encourage others to do so. Many of the links provided by fellow forumites lead back
to Alibaba's sales platform. If they get directly into the U.S. market, it will be a free for all and could do nothing but damage to an already fragile hobby. JMO >>
Not to mention undermining the US Government's Gold and Silver Bullion Market!
Exactly how much different is it in make counterfeit Silver Eagles available from counterfeit 2012
America the Beautiful quarters?
The name is LEE!
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>I see a simple solution to Alibaba. Establish a company that will print counterfeit Chinese paper currency here, and offer to pay Alibaba merchants in cash.
Unfortunately I don't think that this would work since we're "supposed" to be the good guys.
Perhaps the best approach is to involve certain government agencies which over see international trade which would perhaps force Alibaba to address their counterfeit coin sellers as it does undermine the current economy.
The name is LEE!