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Which coin scenario is scarier?

braddickbraddick Posts: 24,780 ✭✭✭✭✭
in U.S. Coin Forum
Which scenario is a bit scarier?

A (seasoned) collector and/or dealer thinks a genuine coin is a counterfeit, or a (seasoned) collector and/or dealer believes a counterfeit is genuine?

peacockcoins

Comments

  • BarryBarry Posts: 10,100 ✭✭✭
    The latter.
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    C. The season dealer thinking that the seasoned collector is counterfeit. image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • copperhuntercopperhunter Posts: 925 ✭✭✭
    In statistical terms: Alpha error versus Beta error. I would rather be conservative and err on the side of not buying a known genuine coin because I have doubts to its authenticity (Alpha), then to buy a coin that ultimately turns out to be counterfeited overseas (Beta).
    Chris' Non-Red Lincoln Set 1909-1958
    Chris' Complete Lincoln Variety Set 1909-date
  • machoponchomachoponcho Posts: 355 ✭✭✭
    Mistaking an authentic coin for a counterfeit.

    Counterfeits can be produced on the order of millions. The number of authentic coins from any given date and mint can only decrease after the Mint is done coining them. For one of these to be mistaken as counterfeit is therefore a bit scarier on an all-else-being-even, single-case scenario.
    I have existed since the creation of this world and will exist until its end. Only my form will change. For these 80 human life years, I have the benefit of having a functioning body and consciousness. I will not waste this opportunity.
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>C. The season dealer thinking that the seasoned collector is counterfeit. image >>



    image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • MrHalfDimeMrHalfDime Posts: 3,440 ✭✭✭✭
    "C. The season dealer thinking that the seasoned collector is counterfeit."

    I love this place. In addition to the great information that can be learned here, there is also an incredible amount of wit.
    They that can give up essential Liberty to obtain a little temporary safety deserve neither Liberty nor safety. Benjamin Franklin
  • messydeskmessydesk Posts: 20,289 ✭✭✭✭✭


    << <i>C. The season dealer thinking that the seasoned collector is counterfeit. image >>


    What if the dealer is artifically seasoned?
    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    D. The seasoned collector thinking that the counterfeit (seasoned) dealer is genuine.
    Member: EAC, NBS, C4, CWTS, ANA

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  • CoinosaurusCoinosaurus Posts: 9,644 ✭✭✭✭✭
    What exactly is a counterfeit collector? Is that the guy who talks big at all the coin shows, but doesn't have the collection to back it up?
    Newman Numismatic Portal, www.NewmanPortal.org
  • AMRCAMRC Posts: 4,280 ✭✭✭✭✭
    The seasoned Dealer taking advantage of the unseasoned buyer and selling them details coins cracked out of details holders.
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • johnny9434johnny9434 Posts: 29,182 ✭✭✭✭✭
    i think the collector thinks that the seasoned dealer is counterfeit image
  • GrumpyEdGrumpyEd Posts: 4,749 ✭✭✭
    Assuming it's something that you can find others to chose from.
    If in doubt pass on the coin.
    Get a slabbed one or one that you have no doubts about.

    If it's a chance in a lifetime then do more reading and find info to help tell if it's fake/real. Or ask if the seller will get it graded and you'll pay for the cost and effort.
    Ed
  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭


    << <i>In statistical terms: Alpha error versus Beta error. I would rather be conservative and err on the side of not buying a known genuine coin because I have doubts to its authenticity (Alpha), then to buy a coin that ultimately turns out to be counterfeited overseas (Beta). >>


    image
  • coindeucecoindeuce Posts: 13,496 ✭✭✭✭✭


    << <i>Which scenario is a bit scarier? >>



    Neither. However the misappropriate use of English grammar is very frightening. image

    "Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
    http://www.american-legacy-coins.com

  • UtahCoinUtahCoin Posts: 5,366 ✭✭✭✭✭


    << <i>The latter. >>



    What he said.
    I used to be somebody, now I'm just a coin collector.
    Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
  • WillieBoyd2WillieBoyd2 Posts: 5,269 ✭✭✭✭✭
    Sounds like the Dr. Weiss ancient coin story.

    image
    https://www.brianrxm.com
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  • PerryHallPerryHall Posts: 46,817 ✭✭✭✭✭


    << <i>

    << <i>The latter. >>



    What he said. >>



    Yup.

    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

  • tightbudgettightbudget Posts: 7,299 ✭✭✭


    << <i>The latter. >>


    image

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