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Fake china gold just sold for 13.5k plus fee in auction
jt88
Posts: 2,838 ✭✭✭✭✭
China coin is very hot even fake coin can sell for big price if you can trust the auction result. In the mean time US gold coin can only sell for little over melt. Unbelievable.
https://www.goldbergcoins.com/view-auctions/catalog/id/67/lot/140964/
https://rover.ebay.com/rover/0/0/0?mpre=https://www.ebay.com/ulk/itm/113752095316
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JT,
what makes it fake. NGC made no decision probably based on the little information available for this type of coin and its varieties. Meaning they can not determine either way. I just had a coin that was similar. Why do you think its fake?
Chris
EDIT: Chinese gold coins are very scare from Late Qing dynasty and the Republic Era and the large influx of Chinese collectors in the past 10-15 years would explain the price difference.
Let’s compare it. First one is fake (lighter color) second one is graded by NGC (dark yellow color). Plus both NGC and pcgs did not graded it
I have to disagree just because the companies don't grade it doesn't make it fake. Many different issues are not gradable but it does not make them fake. Record keeping in China is lacking at best for some issues so the are coins that cannot be yes or no on either side. China had some many different variety dies without records it must be a night mare for the graders at times.
My understanding is that Chinese counterfeiting of Chinese coins carries severe penalties, whereas Chinese counterfeiting of rest-of-world coins (US coins included) does not.
That alone should make counterfeit Chinese coins rare.
And counterfeit Chinese coins not made in China probably don’t look very authentic.
This confirmed fake US coin just sold for $6,600. It's silver, not even gold!
Some fakes are collectible, others not so much.
Living there they do it all the time. Very rarely are laws enforced unless the government wants to send a message or make an example. You can find fake silver coinage of China the US and other places in every city. they usually sell them on the street for a couple of bucks each. Chinese rarely will buy from their own in mainland china for coins or jade because of the lying and cheating. Even when laws are broke the police can easily get money to settle the problem.
My only point to this was not to defend the Chinese counterfeits but point out the fact that some coins and varieties cannot be determined either way even by PCGS or NGC. I was told by NGC concerning one of my coins, the grader said they have no records to determine this and it would take more research than they are willing to give. I think if neither company can say either way with the experts they have how can someone else say one way or the other without the backing.
Chris
I have seen other counterfeits sell as well. I guess with people they can and will decide what they like and enjoy. If someone really likes the coin and its our of their range and the counterfeit is cheaper.
That's a lotta money if it's a fake !!!