Pretty risky move, but a nice revenue play if this takes off. I can see a number of "manufacturers" in China creating multiple NGC subscriptions and using this service as a way to test the quality of their fakes. I can see some interesting challenges ahead for their graders.
Problem is, PCGS has now pretty much left their dealers and collectors in China high-and-dry, after announcing to the world in their latest round of counterfeit coin announcements that folks should avoid coins from China all together.
A pretty shoddy business model; court them one minute, and when more fakes show up, desert them and say "thanks for the business honest dealers and collectors; good luck selling your coins on the open market now that we've blackballed your country!"
<< <i>PCGS has now pretty much left their dealers and collectors in China high-and-dry, after announcing to the world in their latest round of counterfeit coin announcements that folks should avoid coins from China all together. >>
Anyone who requires a warning from PCGS to know that it's a bad idea to buy coins from China obviously hasn't been paying attention.
"Think of the Press as a great keyboard on which the Government can play" – Joseph Goebbels
"The Central Intelligence Agency owns everyone of any significance in the major media" - William Colby, former CIA director
<< <i>PCGS has now pretty much left their dealers and collectors in China high-and-dry, after announcing to the world in their latest round of counterfeit coin announcements that folks should avoid coins from China all together. >>
Anyone who requires a warning from PCGS to know that it's a bad idea to buy coins from China obviously hasn't been paying attention. >>
so those large prominent auctions in Hong Kong and China that feature high dollar and rare coins from both services, these should be avoided at all costs too?
In the last couple years, I've spent five figures on coins from Hong Kong and Chinese dealers and collectors, about 75% of them raw. All but one has slabbed at both major services; that one coming back 'cleaned'. Would you suggest that all of these coins are fake too? Like anywhere else, it is truly about with whom you buy from.
Trying to court this new and emerging market of honest collectors and dealers, and then running away when counterfeits hit ebay, is akin to throwing the baby out with the bath water. From someone that has been to China, to include a large Beijing coin show, i can tell you this: there has been counterfeiting in China far longer than the US has even been a country. There has also been honest coin collectors there for at least that long. Recognizing this and doing business anyway is no fool's errand.
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<< <i>Will the services include providing COAs for Chinese manufactured Trade Dollars, siver yen, Morgans, etc.? >>
Sure -- as long as they're not cleaned or AT. Especially well-made fakes get a star.
8 Reales Madness Collection
They'll need to hire local experts who can spot a fake a block away; even if it's because a
a few "followed them home"
It's just that I got my PCGS grades.
PCGS is involved too................
Here is the PCGS link, with the PCGS slab printed in Mandarin.
click here
Problem is, PCGS has now pretty much left their dealers and collectors in China high-and-dry, after announcing to the world in their latest round of counterfeit coin announcements that folks should avoid coins from China all together.
A pretty shoddy business model; court them one minute, and when more fakes show up, desert them and say "thanks for the business honest dealers and collectors; good luck selling your coins on the open market now that we've blackballed your country!"
<< <i>PCGS has now pretty much left their dealers and collectors in China high-and-dry, after announcing to the world in their latest round of counterfeit coin announcements that folks should avoid coins from China all together. >>
Anyone who requires a warning from PCGS to know that it's a bad idea to buy coins from China obviously hasn't been paying attention.
"The Central Intelligence Agency owns everyone of any significance in the major media" - William Colby, former CIA director
<< <i>
<< <i>PCGS has now pretty much left their dealers and collectors in China high-and-dry, after announcing to the world in their latest round of counterfeit coin announcements that folks should avoid coins from China all together. >>
Anyone who requires a warning from PCGS to know that it's a bad idea to buy coins from China obviously hasn't been paying attention. >>
so those large prominent auctions in Hong Kong and China that feature high dollar and rare coins from both services, these should be avoided at all costs too?
In the last couple years, I've spent five figures on coins from Hong Kong and Chinese dealers and collectors, about 75% of them raw. All but one has slabbed at both major services; that one coming back 'cleaned'. Would you suggest that all of these coins are fake too? Like anywhere else, it is truly about with whom you buy from.
Trying to court this new and emerging market of honest collectors and dealers, and then running away when counterfeits hit ebay, is akin to throwing the baby out with the bath water. From someone that has been to China, to include a large Beijing coin show, i can tell you this: there has been counterfeiting in China far longer than the US has even been a country. There has also been honest coin collectors there for at least that long. Recognizing this and doing business anyway is no fool's errand.
I hope that will continue to be the case and wish you the best of luck in the future.
"The Central Intelligence Agency owns everyone of any significance in the major media" - William Colby, former CIA director