Has the rise of counterfeits affected your collecting?
Zoins
Posts: 34,304 ✭✭✭✭✭
Given how may counterfeits are posted on these threads, I've been wondering how it has changed how people collect? And if it hasn't affected you, why not?
Here's a recent thread: https://forums.collectors.com/discussion/1024689/a-new-type-of-fake-pcgs-tag-ive-never-seen-on-ebay-1-hour-left-to-get-it-pulled#latest
If yes, how so?
If no, why not?
Has the rise of counterfeits affected your collecting?
This is a public poll: others will see what you voted for.
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Most of my coins are slabbed. Of course, I am aware of fake slabs. If anything, I am more reluctant to take a shot with an eBay seller I haven’t had good dealings with before.
Good topic!
Might be a good time to work on the danso Washington quarter set.
I don't feel confident enough to collect raw.
If it wasn't for TPGs, I wouldn't be here.
My Saint Set
Watch out for 1932-D and 1932-S quarters with added mintmarks.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
My philosophy is never stop learning more about coins, got my hard drive magnet and loupe in my pocket, great apps on my phone and the serenity to walk away when something just ain't right. Peace Roy
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Good point. Maybe I'll start with 1940.
No. I have always been cautious when buying....In fact, the only two counterfeits I have, I purchased intentionally. I will say though, the fake slabs add another dimension to my caution. Cheers, RickO
I have come across two counterfiet morgan dollars, both were found in seperate rolls that were modern reraps. I also came across two counterfiet silver pandas through ebay auctions. I am definitely more cautious when buying from sites like ebay. Always do some research on the seller and the coin being purchased especially when buying more expensive coins. If your unsure of something, but are still interested, get a second or third opinion before making any decisions.
https://www.pcgs.com/setregistry/mysetregistry/showcase/6602
It has not changed what I collect, but I do have a lot more awareness about the possibility that what I am viewing might be no good. It’s give me a topic that I approach with passion when I speak to the local clubs.
It has definitely made me more aware of the risks of raw coins.
If the deal looks too good be true one should be wary.
Years ago I was offered a $2.50 Indian Set at a show setup at in a capital Holder which the seller described as BU - sliders at best. Upon close examination some looked fake. I told the seller this he walked away indignant mumbling something bashing dealers. The next show he apologized saying “you were right” (he had tried getting some slabbed and they came back body bagged) and apologized.
I tend to collect things that aren't counterfeited so for the most part I am unaffected by the recent surge.
Start with the clads. Work up from business strikes to proofs.
Post picks for us when you complete.
I was originally mostly an album collector. But the flood of fakes has made raw coins very risky, so ive started a transition from raw to graded. While there are some risks on fake with graded coins, there seems to be far less issues with them. I'll still keep up to date on certain modern raw coins i purchase straight from the mint, but will continue to move further into graded on the rest.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Actually, I don't believe there has been a substantial rise in the number of counterfeits out there. As the late dealer John Ford said 60 years ago when he went to a major show, two-thirds of the 1916-D Mercury Dimes he saw were either counterfeit or had added mint marks. The rise of the internet and selling platforms such as eBay have just made people much more aware of the number of counterfeits that are in the marketplace.
Member ANA, SPMC, SCNA, FUN, CONECA
Interesting. So the overseas counterfeits aren’t contributing to a substantial rise in the number of counterfeits?
And wasn’t Ford himself a major seller of newly created counterfeits? Perhaps he said this to feel better about himself?
The 50 state quarters will keep me busy...when does that program start?
O ut I am a lot more careful a d attentive
No but I am a lot more attentive
Yes, I post fakes when I find them so we can prevent further erosion in our glorious hobby. Occasionally I find coins that I’m suspicious of so I ask member opinions here. Knowledge is addicting
check out this fake, seller from Australia. report to e bay if possible
https://www.ebay.com/itm/Coin-1911-USA-Indian-Head-gold-10-dollar-in-uncirculated-condition-lovely/372724974069?_trkparms=aid=111001&algo=REC.SEED&ao=1&asc=20160908105057&meid=dbdb77637a9f45bd9eb3780ddd11ee46&pid=100675&rk=5&rkt=13&sd=383024611339&itm=372724974069&pmt=0&noa=1&pg=2481888&_trksid=p2481888.c100675.m4236&_trkparms=pageci:f30367b7-c76d-11e9-9627-74dbd1805f1d|parentrq:ca3c9b8b16c0a4b77cd14306ffe93c15|iid:1
No, but fake slabs make me more cautious especially on eBay, but I rarely buy on eBay.
I thought about this a bit and for me I see it like this.
When I first started collecting I had trouble recognizing cleanings, wipes, hairlines from die polish, Vams and doubled dies and overrates etc. Anything that needed magnification to see and the things you want to see that aren't there and what the real deal, no need to phone a friend, varieties look like. I've had a lot of help over the years from a lot of people to say the least. Some things in life I feel I can figure out on my own and prob should, but not numismatics! Not authentication anyway.
I've had my head in a loupe a while now, at first trying to get a handle on surface conditions and varieties per issue that I feel I have built a pretty good gut feeling.....both a conscious and subconscious awareness to pieces from legit dies and ones that are not. If I'm considering a raw piece that is not in my wheelhouse I compare it with known authentic pieces. I like to get side by side photos of the piece in question and a known authentic piece of comparable photography in my camera roll and swipe back and forth comparing each slight area at a time. I never buy things I can't verify.
Cast medals are tougher for me because I know now that each piece can come out quite a bit different and the finishes can vary widely. I pass on a lot of these that are questionable to me. A whole new area of authenticity issues to tackle but it doesn't slow me down, just pushes me to be a more knowledgeable collector.
No, I always buy the coin as it is what it is.
However, for resale, I have virtually certified everything so my clients can have extra confidence buying from me.
Until shortly after EBAY hit the market I had no reason to question the authenticity of a graded coin. Now, I verify each one against the firms website records. Even when buying from a reputable dealer. It's a sad day that it has come to this.
For me it is a double edge sword. I enjoy detecting counterfeits as I have considered buying the entire set of raw Trade Dollars off of eBay and send into a TPG to test my counterfeit detecting skills. My buying habits are impacted by counterfeits because any coin over $200 on eBay will be purchased in a major TPG holder, so I have less chance of getting burned by a counterfeit.
No. I only collect PCGS/CAC and most of those pieces are from a handful of reputable dealers.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Here is what affects my decisions to buy (on a scale of 1-100)
Counterfeits 0
Price 100
Nowadays, most coins that would be counterfeit, examples should be purchased TP Graded. Secondly, don't buy from some guy off of Ebay because his prices are low, his pics blurry and small. Buy from reputable dealers or sellers.
I just bought a raw Trade Dollar in AU53-55 from the local coin dealer. Since I will never send it in to a TPG, I guess my heirs will ultimately discover if it is a counterfeit or not.