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This is why I am wary of buying any Chinese pandas

mkman123mkman123 Posts: 6,849 ✭✭✭✭
in Precious Metals
Fake pandas

Look at the thread and notice how the 2010 fake panda looks very close to the real thing! I am sure the counterfeiters will constantly be improving on their methods. If you read further, a lot of people have been had, I wonder how many fake pandas are floating around and people don't even know it.

BE CAREFUL!!!

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Comments

  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Thanks for the head's up mkman123.image

  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭
    I'm suspicious of any coins coming out of China.

    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

  • 2ndCharter2ndCharter Posts: 1,656 ✭✭✭✭✭
    I am weary of buying any Chinese pandas

    Why? Are they really that heavy? image

    Member ANA, SPMC, SCNA, FUN, CONECA

  • gecko109gecko109 Posts: 8,231 ✭
    Mike, you should be weary of buying ANY RAW COIN that you arent very familiar with....not just pandas. There are fakes (some very good ones) of almost any major coin ever made. Why you choose to single out pandas escapes me.
  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭
    Useful link to info on bad Pandas:

    linky-dink
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • CiccioCiccio Posts: 1,405 ✭
    I knew that website. It looks to me that the Chinese pandas are made in a better way than all the other counterfeit coins I ever saw (I am not an expert though). I think this is what Mike meant and why he singled out the Pandas.

    But I agree with Gecko, we should all be aware of any raw coin and do our homeworks.
    Since I don't buy slabbed coins and I like the variety I tend to buy from reputable sellers, hoping they know what they sell. It will be too hard for me to have a wide knowledge of all the coins I buy. Hopefully in few more years I will get there.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    The problem is this though, at yard sales, estate sales, even the B&M, people will come in with raw coins. Sometimes depending on your area, coins like Pandas rarely come in so even the local store may not know how to identify a fake. When buying bullion, I don't want to have to scrutinize everything in my collection wondering if something is real or not. At the coin store I visited recently, I saw many pandas, gold and silver. I am sure the store may have looked carefully, but if they didn't then there could be a fake there.

    Fellow member FC got taken on some Chinese olympic coins a while back as well and the olympic coin set that FC bought were selling like hot cakes on ebay for a while so many people were had.

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  • meluaufeetmeluaufeet Posts: 764 ✭✭✭
    Thanks for posting this thread and link... my sis just started getting into silver/gold and she is building a collection of pandas... needless to say I passed the link on to her.
  • PreTurbPreTurb Posts: 1,193 ✭✭✭
    Yeah, I've seen this coming for a while. Only sealed/slabbed AGE/AGB's and 50c 90% silver for me!
  • EcclesiastesEcclesiastes Posts: 48


    << <i>Mike, you should be weary of buying ANY RAW COIN that you arent very familiar with....not just pandas. There are fakes (some very good ones) of almost any major coin ever made. Why you choose to single out pandas escapes me. >>




    Everyone collecting gold coins know Chinese counterfiets are a huge problem. There are many collectors out there right now selling off their Panda collections because of fear, uncertainty, and lack of faith in the product. Many of those people are buying American Eagles because they make them feel more secure.
  • GRANDAMGRANDAM Posts: 8,512 ✭✭✭✭✭
    If you are selling Panda's PM meimage
    GrandAm :)
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    grandam, I can get you thousands of silver pandas for $10/oz and gold pandas for 500/oz. Let me know how many so I can tell my friends in China to start cranking them out of their homes. Can't guarantee their are real but they will look real. imageimageimageimageimage
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  • GRANDAMGRANDAM Posts: 8,512 ✭✭✭✭✭


    << <i>grandam, I can get you thousands of silver pandas for $10/oz and gold pandas for 500/oz. Let me know how many so I can tell my friends in China to start cranking them out of their homes. Can't guarantee their are real but they will look real. imageimageimageimageimage >>



    I guess you just have to know what you are doing to avoid being taken. I haven't been ripped off yet.

    GrandAm image
    GrandAm :)
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    It isn't just the panda coins they are doing, some of the other counterfeits are even more impressive including bars. With the gold coins the weight and appearance should tell you if it is real, the silver pandas though I would avoid.
  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
    Why not buy at Apmex there prices seem fair and most are still sealed.
    Positive BST transactions: agentjim007, cohodk, CharlieC, Chrischampeon, DRG, 3 x delistamps, djdilliodon, gmherps13, jmski52, Meltdown, Mesquite, 2 x nibanny, themaster, 2 x segoja, Timbuk3, ve3rules, jom, Blackhawk, hchcoin, Relaxn, pitboss, blu62vette, Jfoot13, Jinx86, jfoot13,Ronb

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  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭
    Two words: BRICK AND MORTAR!!!!!!!

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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