How will counterfeit slabs affect your purchases?

MrEureka

I'll start:

If I'm not sure the coin's real, and if I'm not sure the holder's real, I'll need to know the seller and he'll need to unconditionally guaranty the authenticity of the coin.

WinPitcher

I would only buy from a reputable source.

The same thing is happening with PSA slabs too.


I won't buy an expensive item from just anyone.


Steve

mrpotatoheadd

<< <i>If I'm not sure the coin's real, and if I'm not sure the holder's real, I'll need to know the seller and he'll need to unconditionally guaranty the authenticity of the coin. >>

If you can't trust that the slab is legitimate, what assurance do you have that the listed grade is accurate? Kind of negates the usefulness of slabs, doesn't it?

GoldenEyeNumismatics

It won't change my buying habits. If I suspect a coin/slab is bogus then I simply won't buy it. It a bogus coin/slab deceives me, it will probably be later sold at full price without me ever knowing it's fake (It's not as if I'd be trying to deceive anyone---I truly wouldn't know the coin/slab wasn't authentic).

Colquhoun

Since I was going to start buying Chinese Pandas, and they exist as fakes in large number I was going to only purchase them slabbed.. now I am not so sure how I will collect them. I know of a couple places where I can be sure they are real, but on the Bay.. hmmm not so sure anymore.

headsplitter2

Got any pictures of counterfeit slabs? So inquiring minds can see the difference.






JD

Swampboy

<< <i>I'll need to know the seller and he'll need to unconditionally guaranty the authenticity of the coin. >>

savoyspecial

what's next fake CAC stickers.....say it aint so


i like my coins raw anyway.....a coin's heft and feel is part of its beauty

greg

Placid

I dont think I will buy any high grade coins for awhile as I have a hard time telling a 67 from a 68 and if these people start making slabs with genuine coins of a lower grade then I could paying more than I should.

This would not have as much a impact on coins where the price spread is not that much money but ones where one grade point can mean $1,000+ dollars.

Doogy

as mainly a darkside collector that deals with British dealers/collectors personally, i won't be all that affected. Any coins I buy raw (the vast majority), i'll submit myself. However, i think i may wait to send in my next batch, as NGC has had their anti-counterfeiting slab in the works for a couple months now.

foodude

At FUN I watched two top flight dealers buy a 5 figure gold coin in a top flight holder. They spent more time studying the holder. particulary the edges, than they did looking at the coin. In the end, they bought the coin (and the holder).

storm888

"...It a bogus coin/slab deceives me, it will probably be later sold at full price without me ever knowing it's fake (It's not as if I'd be trying to deceive anyone---I truly wouldn't know the coin/slab wasn't authentic). "

/////////////////////////////////////////////////////////////

Therein lies the DANGER to the industry. The entire pool
can be poisoned ---- or fall under suspicion ---- once the
bad stuff sneaks into the market.

I will be VERY cautious and will ONLY buy from folks who
I can trust to guarantee the coin AND the slab.

This is a VERY serious controversy.

OKbustchaser

They won't affect me at all. I pay no attention to the slab surrounding the coin now.

TwoSides2aCoin

I'll just send counterfeit money orders.


Fair abouts, fair play. They can burn the money order and I can melt the slab and pot metal.

BECOKA

From experience on these boards we seem to be pretty safe buying from Heritage. If a coin or holder is found to be fake after the fact they will make things right.

robkool

I would have no problem buying PCGS coins... As long as PCGS, or a dealer can guarantee the coin, and it's value. I will also be buying more raw coins from my dealer than ever before.

Colquhoun

<< <i>They won't affect me at all. I pay no attention to the slab surrounding the coin now. >>


Agreed I buy the coin based on the coin, but the hold insures it real. How many times have we all told someone to pay a coin slabbed becuase dangerous fakes are out there. I know my limits.. I would never buy gold raw.

BECOKA

<< <i>I would have no problem buying PCGS coins... As long as PCGS, or a dealer can guarantee the coin, and it's value. I will also be buying more raw coins from my dealer than ever before. >>



That's kind of scary that RAW would be trusted more than the majority of Slabs that are just fine. Think about the percentages and the number of counterfeits must be really small.

RedTiger

There are certain types of coins I won't buy on eBay because of the risk of counterfeit slabs. Not from China, not from the U. S. sellers. As time goes on, I expect that list of coin types to grow.

Again, there are three threats:
1) Real coin in fake slab at higher grade
2) Fake coin in fake slab
3) Fake coin that makes it into a real slab through submission process

All three have the potential to cause major headaches. As time passes the fake slabs and fake coins get better and better.

PerryHall

Won't affect me in the least since I was buying coins long before TPG's existed when all coins were raw and there were already many fakes in the market place. I'll just treat every slabbed coin as if it were raw.

BigRed

Is this still a problem and are there a lot of fake slabs out there? I know this was an issue several months ago but I haven't heard anything about it for a while. As for the question you asked, yes it will affect my purchases very much since I do not have money to throw away and since my counterfiet detection skills are limited.

TavernTreasures

This is getting serious. Why isnt our country doing something about CHINA coin and slab conterfeiting operations? Diplomatically?

It is illegal to import counterfeit products (CD's, handbags, sneakers, etc). It is illegal to make counterfeit US currency. And the US goes after those guys.

My fear: It is going to come to a point where collectors will be forced to quit collecting coins. Prices will nosedive. Many will lose substantial money which they have invested in coins, even if their coins are genuine. The hobby will be littered with deceiving counterfeit coins and slabs which will even fool the experts.

Maybe we coin collectors should start writing our congressmen?

RYK

After giving it much consideration, I have decided that I will not purchase counterfeit slabs.

My latest collecting efforts are directed in more esoteric areas in which counterfeiters are far less likely to tread and provenance is more easily traced. If it gets to be a real problem and the risk of buying a fake outweighs my enjoyment of coins, I will stop buying them.

Zoins

It seems like you can't be assured a TPG encapsulated coin is the real thing anymore ... without digging up old photos.

Eventually, buying and selling TPG coins may become more like buying and selling raw coins.

Of course, some people have been saying all along to buy the coin, not the holder.

howards

If you think this is a problem for collectors, consider what a headache it must be for the major TPGs. Once the counterfeits become indistinguishable from the real thing (and they are close now), then the trust between the slab and the collector is broken and the TPGs are going to have a heckuva time selling slabs.

Zoins

Here are some scary thoughts.

What if counterfeiters started putting genuine classics in slabs and giving them designations like FBL, FH, FB, etc.?

What if slab counterfeiters started putting genuine moderns in fake slabs with inserts like Early Releases and First Strike?

garsmith

<< How will counterfeit slabs affect your purchases? >>

I will not be buying sight unseen, except from known and trusted sources!