Don't you hate it when you must tell someone their coin is counterfeit

oldsubguru

I did the Central Florida Coin and Currency show last weekend and sure enough while attributing coins for people, I ran across a 1922 Lincoln cent with no "D" straight from China. Randy Campbell from ICG confirmed the fact that it was from China and a counterfeit. I felt sorry for the guy when he was told the news, you could almost see his jaw drop.

LanceNewmanOCC

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about the only thing worse i've had to see than that is telling someone their item(s) is counterfeit/altered is when i tell them and see that they couldn't give a
.

PerryHall

What are the chances that he will look for a new hobby?

AUandAG

Yeah, the guy likely waited 3-4 weeks to get his coin from China,,,,,,,,only to be disappointed.

Shipping from China is sooooo slow.


bob

CaptHenway

I was in the business of giving out bad news for many years. It never gets easy.

harveypb

I enjoy telling dealers that their Bust Half is counterfeit. Most don't know and once you tell them and prove it to them,
they usually are glad to sell it to you at a fair price...

PerryHall

In the early 1980's I showed a B&M coin dealer a nice Saint which I knew was quite real. After careful examination he told me it was fake and then proceeded to try to buy it from me.

MrHalfDime

It certainly can be difficult to tell someone that their coin is counterfeit, particularly if they are a friend. I once had the unfortunate experience of discovering that an AU 1795 Flowing Hair half dime, which was purchased specifically to be offered to me by a dealer friend, was bogus. When I informed him of the status of his coin he was devastated. He allowed me to take the coin to confirm my suspicions by conducting a specific gravity test. I suggested that may have recourse by returning the coin to whomever sold it to him. He replied that he had bought the coin from a walk-in to his B&M, from an elderly man. The old man had no idea what he had, and asked for an appraisal. It was the dealer who determined that the coin was 'real', and paid him $3500 for it. Therefore, he had no ability to return the coin. He later sent it to ANACS, who confirmed my findings, and even came up with the same specific gravity number. He later sold the coin to me as a die struck counterfeit, for less than 5% of his cost.

A similar thing happened with another dealer, a member of this forum, on another 1795 Flowing Hair half dime, only this time the dealer was able to return the coin to the dealer who had sold it to him. There are a number of these very deceptive die struck counterfeits out there, which are more difficult to identify than cast counterfeits.

As difficult as it might be to tell someone their coin is counterfeit, it would be worse to make that determination and not tell them. Knowledge is power.

WTCG

It depends on the situation. If the item was an heirloom and was discovered to be a fake that would be one thing but if it was a coin that if genuine would be worth, let's say $10,000, but was bought at a garage sale or online for $4,000 or a fraction of the true value then it's discovered to be a fake would be another story. There is sympathy for the former situation, not nearly as much or the latter scenario.

TwoSides2aCoin

Never like to be the bearer of bad news. The good news is they get the whole truth. That's painful, too. It's the opposite of a "You Suck". It's more "That Sucks "

JohnMaben

Before doing moderns, my specialty was U.S. Gold. While traveling the country I would frequently encounter fakes. I never danced around it-- just flat out told the shop owner or person at a show the coin was bad. If they knew me they would usually ask me why or just remove it from display, if they didn't know me they would look at me like I had three heads because I almost always made the determination through a showcase without having coin in hand.

I think it's always better to say something than not.

ThePennyLady

A couple weeks ago at a show, a guy asked me to look at his 1909-S Indian cent that he bought from a dealer when he was a teenager in the 1970's. I didn't even have to loupe it to see it was counterfeit, but of course I examined it carefully but didn't tell him what I thought at first. I like to get a second opinion when I see a counterfeit coin, so I just asked him if he minded if I showed it to another dealer. That dealer also confirmed that it was fake. So then I broke the news to him. Obviously, he was quite disappointed but said that he only paid $100 or so back then so he's not out a great deal of money.

Then this same guy comes up to my table at the Long Beach show this past weekend and told me he was worried about another coin he also bought when he was young. This time it was an 1877 Indian cent, and I was very happy to tell him that this one was authentic and problem free. Boy, was he relieved - and very happy! I am hopeful that this experience has not deterred him from pursuing his goal of completing his Indian cent set.

BryceM

Yeah, giving bad news sucks. In the medical field we actually had classes on how to give it to people.

Short preparatory statement, direct statement of what happened, a little time to digest the infomation, supplemental details, condolances, answer questions. Usually saying less is better than saying more.

Pretty applicable to just about any situation really.

crypto79

Lucky for me my series isn't really stricken by the counterfeit bug so it has never come up before.

BillJones

Years ago I belonged to a coin club in which the treasurer was selling counterfeit gold dollars to the president. The president kept showing me these bogus coins, which were not even well made, until I had to say something. Needless to say I was not on the treasurer's good side after I spilled the beans, but he just kept selling these things to people in addition to the president. He knew darn well what he was selling too.

Cougar1978

It does not bother me at all as I express my opinions freely. I had a guy at a show try to sell me a $2.5 Indian set in a capital plastic holder saying he would take 10% back of bid. I told him most of them looked counterfeit especially the 1911-D. I also told him even if some real, Ch AU at best (the holder had Ch Unc on it). The guy walked off in a huff. Worse yet his wife seemed really angry with him "Harry you better not have lost money like that. I wanted to remodel our bathroom and you did that? You told me coins were a fantastic investment!"

He came back the next day in a more sober mood (she was nowhere to be seen) and said "You were right, you guys know what your talking about." It seems he got some other opinions. I hate seeing someone getting ripped like this but unfortunately tuition can be expensive sometimes. I advised "buy only certified coins when spending over $20" He thanked me and walked away. I wondered if being burned like this would it for the coin hobby with him like many of those burned before the 1990 market crash paying around $1000 for MS 65 1881-S Morgan Dollars.

12voltman

And now that slabs are counterfeited too, what do you suggest?

TwoSides2aCoin

That was good, Crypto

johnny9434

<< <i>A couple weeks ago at a show, a guy asked me to look at his 1909-S Indian cent that he bought from a dealer when he was a teenager in the 1970's. I didn't even have to loupe it to see it was counterfeit, but of course I examined it carefully but didn't tell him what I thought at first. I like to get a second opinion when I see a counterfeit coin, so I just asked him if he minded if I showed it to another dealer. That dealer also confirmed that it was fake. So then I broke the news to him. Obviously, he was quite disappointed but said that he only paid $100 or so back then so he's not out a great deal of money.

Then this same guy comes up to my table at the Long Beach show this past weekend and told me he was worried about another coin he also bought when he was young. This time it was an 1877 Indian cent, and I was very happy to tell him that this one was authentic and problem free. Boy, was he relieved - and very happy! I am hopeful that this experience has not deterred him from pursuing his goal of completing his Indian cent set. >>

im glad to hear that he made out with the 1877

magikbilly

With autographs, and certain other stuff, it is way more than half of what I do. It is rarely easy, and sometimes frustrating, especially when folks ask after they buy.

Eric

telephoto1

As a rule I neither love nor hate it; it comes with the job. I try to be tactful, especially when I know it's something they've had for a while.

That said, I must admit I did like it a little when one of the local big time operator cherrypickers that cruises estate sales, flea markets etc. looking for rips came in. He scored a sweet 09SVDB...all original! Um, except for the MM, that is.