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Would you buy one?
Onastone
Posts: 4,369 ✭✭✭✭✭
We've all been warned to be careful, beware of those fakes....counterfeits are amongst us and we don't always know it. I recently sent a quarter in for grading to PCGS and it came back in a flip labeled counterfeit. It's awful to buy a coin thinking it's authentic, only to get a fake. So here's my poll question: If you knew a coin was counterfeit, would you buy it?
Would you buy one?
This is a private poll: no-one will see what you voted for.
0
Comments
If cheap enough, counterfeits can make great learning tools!
Nope. Unless it was a contemporary counterfeit with a cool backstory. But even then I’d probably spend the money on something I’m more interested in.
I answered "no", but indeed have bought counterfeit (bungtown) 18th century halfpennies as well as the accepted colonial counterfeits.
I voted "no" but there are a few exceptions. I bought a counterfeit Seated dollar about a year ago that is NOT a modern Chinese counterfeit. Any counterfeit Seated coinage that might be of contemporary manufacture would be a "maybe" for me.
+1
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I have no interest in buying counterfeit coins.
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
I'll pass on the bogus stuff as well
Nope ... I have no interest in counterfeits.
I’ll buy them occasionally, but mostly for learning opportunities.
On the flip-side, I posted a WTB post on the BST for counterfeits for a presentation for my local club. A dealer offered me some key date coins that were suspected counterfeits. Others weren’t so sure and I eventually submitted them to our host. They all came back genuine, and 2 of them in problem-free holders.
That was a very nice “Santa Claus” in numismatics experience.
I was unable to cast a vote because none of the options represented my position.
There are a handful of counterfeit Morgans, some of which were previously graded and holdered by PCGS, NGC and ANACS, that I would buy.
No interest in wasting my money on them.
I can learn and teach without them.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I don't think this poll has enough nuance for what counterfeits can be. Off the bat, consider these options:
1- A coin that was acceptable in its time (some colonials are like this)
2- A counterfeit made for use in circulation, but more as a one-off, not like #1 where some were minted in quantity. It may have passed as genuine, but it's a fake. Some of these can be of very high quality, others can be laughable.
3- A counterfeit designed to fool a collector. You can have the terrible Chinese counterfeits or some of the much higher quality ones that have come out more recently.
4- There are otherwise famed counterfeits like the Omega double eagles
So to answer your poll, #3 is the only one I have a specific problem with. Cheap enough it could be a learning tool, but I wouldn't buy one to enjoy. The other options range from effectively being genuine (they circulated and are now considered "genuine counterfeits" when you trace their origin) to being fake, but having their own collector appeal, and indeed some people collect them as others collect genuine coins. Nothing I collect would lend itself to these categories, but I understand their appeal and don't have anything against them in principle.
Counterfeits are album weeds. Where's the Roundup?
Just... No.
There needs to be more options. I would certainly buy it if it was contemporary counterfeit. If not I would answer a combination of 2 of your options so I didn't vote.
Have yet to read all the great responses above, but my thought process is around buying it AS a counterfeit and it being sold as such (not being passed off as real). It would certainly obviously labeled as such in my collection and my heir would know completely.
There are not many counterfeits I would buy intentionally... but this was one.
I have a few 1909-s V.D.B pennies with fake mint marks. I knew they were fake when I bought them. So did the dealer. All were $100 or less. Good to study. And I am interested in contemporary counterfeit Capped Bust half dollars but I don't have one.
I dont know about buying one but would like to examine some to be able to spot them and see the differences.
As I was writing the options, I kept thinking of more, combinations of answers, none of the above, all of the above, yes and no, and as some have already explained above, there are many different categories of counterfeits which lead to different answers. I could have just left it at Yes or No....explain your choice.
The question came about after I saw a video where someone bought a 2020 ASE from some cheap internet company...the coin was obviously not real, oversized numbers, similar font but not quite right, weight was off....and I thought maybe I would buy one for a hot second but ultimately realized I didn't want to help payroll a business that scams unsuspecting people.
I own this counterfeit-it is pictured on my book on Buffalo nickel abraded dies. It was listed as a "Two legged" in the old (circa 1962-63) error/variety guide by Spadone. A very similar 1936 from an additional set of false dies was also listed in that reference. The 1935 shown is, by far, the highest grade I've seen of this variety, including the much more common 1936.
I would buy a fake to help teach others what to look for, but it would depend on how much I would have to spend to get it.
The 1935 I have pictured above was super cheap-like free. Since my book deals with genuine abraded die stuff I got it exclusively so I could image it and put that image in my book.
Well said.
I would not buy ANYTHING that I feel is hurting the Hobby.
Pete
I'd pass on any fake coins
1997-Present
I would like to vote no, however, I did buy a counterfeit Morgan once at a local antique shop. I knew it was counterfeit, explained it to the proprietor (They did not mint one that year) and got it cheap, then listed it on the site for counterfeit coins. Cheers, RickO
Yes, I own several fake busties that are contemporary to the proper time period. Would readily buy more.
NO!
They are a cancer to our hobby. You can learn about counterfeits from a book.
Next time I can find one for sale (omega) I'm going to take a run at it.
My Saint Set
Yes, I would.
Thought this one was pretty nice with a cool story behind it.
Still as I bought it (almost) 29 years ago.
Yes but none of the reasons fit my scenario.
It might be the way I would ever be able to obtain or afford a 1854-S or 1875 half-eagle.
it's crackers to slip a rozzer the dropsy in snide
Like many other collectables, there is evil attached to counterfeit coins. There is also history and for that reason I (carefully) purchase contemporary counterfeits. There is a story to be told I won't ignore.
I voted yes but but only if I knew it was one where I could buy it at a fraction of a real one. I wouldn't knowingly pay full price if the amount was meaningful.