Is there any permanent solution to counterfeits on the bay?
Zoins
Posts: 34,292 ✭✭✭✭✭
eBay will take down counterfeits when they are identified but this is a rolling, never-ending treadmill of diligence.
Is there a more permanent solution to this?
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Ebay will sometimes take down counterfeits.
In answer to your question, sadly, I doubt it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If eBay ever wants to really get rid of the counterfeits they need to:
Immediately permanently ban sellers of such items. This is for all types of goods, not just coins. This is not likely to happen.
It will not happen. Even banning a seller, only makes them change their name and come back with more - or even the same fake coins. The only possible answer is to eliminate coin selling on ebay, and that is rather extreme. Fakes are found in most collectible products - coins, art and other categories. Like crime itself, it will not stop. Cheers, RickO
How could eBay do this without having an expert in every field of collectibles?
Just because someone sends eBay a claim that a coin is counterfeit, how does eBay know if the claim is true or not?
Also, some sellers have no idea that their coin is a fake.
I think it will be pretty much impossible. Only way I thing there is a small chance is that eBay spends a ton of money to get together a large team of coin experts that screen every coin that getting listed.
Collector
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The only way to stop it is to stop people from buying it in the first place.
People always want a good deal and to think they can get something valuable really cheap. They also think that there is a 95% chance it's fake BUT it's worth the risk because it's so cheap.
Just like illegal drugs, as long as someone is buying then there will always be someone who will sell it to them.
Of course it's possible. It's the same issue social media companies have with troll accounts and abusive members. They don't want to do it because they think the barriers will hurt business. All they have to do is implement strict know your customer requirements such as banks use and then pursue action the remaining pool of bad apples. There will always be a small degree of fraud but you don't see Chase saying oh geez there's just nothing we can do about the same person defrauding us over and over again or American Airlines saying just no way to ban this passenger who keeps robbing their seatmate.
There have always been counterfeits, even in ancient times. It’s just easier for counterfeiters to ply their trade. There’s no getting rid of them. The good guys have to be more vigilant.
TurtleCat Gold Dollars
I remember some people on this very forum about 15 years ago used to try and police eBay for counterfeits by creating fake sacrificial accounts on eBay and bidding $1,000,000 on a whole bunch of the counterfeit coins all at once and then not paying so that the sellers would get all kinds of auction fees that would mess with them. It also kept newbies from being able to accidentally buy the counterfeits unless they were willing to pay more than the million dollars. It was a small group that called themselves some kind of Posse’ or something like that.
I don’t know how effective it was, or if they got in trouble for making fake accounts, but I imagine it at the very least ruined some of the counterfeit dealers day having them try and explain to eBay why they shouldn’t have to pay the auction fees.
Mr_Spud
now that ole sparky has our attention
I remember that eBay posse. I believe there were quite a few accounts involved. Not sure how easy it is to do that now, though.
TurtleCat Gold Dollars
I wonder if using a real eBay account and then saying you didn’t pay because you became aware the coin was counterfeit would force eBay to investigate and the buyer wouldn’t get into trouble...
Mr_Spud
You might get away with it once or twice but I think they’d probably not take any action on the seller.
TurtleCat Gold Dollars
Anything can be done, but I very much doubt that there is anything that will be done.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
If I recall, eBay did have a "citizens advisory board" in fact, I believe they were the influential group who managed to eventually get all Third party slabs from eBay (except of course PCGS, NGC, ANACS and ICG) And if I further recall further, without getting banned, PCGS was a major player in that event with said group. I think PCGS should pick up the slack here and get back in tight with eBay so that a group or some volunteer of collectors looks for the big counterfeit type coins like the 55 DDO, 1895 S Morgan, etc. and can shut them down quicker than what we are seeing. It is in PCGS interest to keep a market place like eBay selling "their" coins just like it was in their interest to get rid of bottom feeder graders. In fact, in my opinion a counterfeit coin is far worst than a lower tier slab company unable to grade.
WS
The sellers didn’t incur fees when the winning bidders failed to pay, as there was no completed transaction in such cases.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I don't see any.
Just keep reporting.
Its simply an expense issue. They will take it down if you do the work. The social media companies could do a better job with bad info but they would end up spending millions of bottom line profits to police effectively. Same with the ecommerce websites that allow open platform posting.
These are public companies that report quarterly earnings. They will pay lip service to the critics and that's all they will pay.
Anyway there are many other more important issues that could be dealt with in this marketplace that affect the long term future of the hobby.
No.
Ebay could use the same approach for coins as they recently did for watches. If the coin is valued $2,000+, they could guarantee it's authenticity. The only problem with that is most of the counterfeit coins are selling for a fraction of that amount.
Sometimes I think that animals are smarter than humans, animals would never allow the dumbest one to lead the pack
If you look at how this guarantee works, you'll see why it's a bad deal for sellers of authentic coins.