Buying habits due to all the counterfeits…..

safari_dude · March 25, 2026 8:15AM

As I continue to see amazing coins posted here each day by forum members, I look to broaden my knowledge and collecting by researching and seeking out some of the same coins for myself. I have noticed a huge increase in counterfeits listed on eBay from China. Some of them are scary they are so realistic looking. Now slabs are being counterfeited too, making the ‘fraud’ field even larger. Although I have purchased from several reputable sellers on eBay, I am beginning to become leery about most coins I see for sale on that platform. While I admit that GC/Stacks and a few others have incredible coins, competing with so many high end spenders makes getting many coins unaffordable/unattainable to collectors like me. What other avenues do we have to help protect us from all the scammers out there if we want genuine quality coins at ‘affordable’ prices? Not many B and M stores left…..😩

calgolddiver · March 25, 2026 8:43AM

develop a network of trusted dealers ... BST forum is also a good alternative

RedRocket · March 25, 2026 8:58AM

Develop your own eye and realize the silver lining is the counterfeits drives out some of the opportunist (those who cannot spot the difference between counterfeit and genuine and are in the game only to turn a fast dollar), leaving true collectors (those who can spot the difference). If so, this drives down the prices a bit for genuine collectable coins.

jmlanzaf · March 25, 2026 9:01AM

I'm an eBay seller. I can be trusted. But if you don't know me, don't buy expensive coins cheaply from me. Why would any reliable seller sell high end coins cheaply. They wouldn't.

There is no SAFE bargain on ebay. EVERYONE knows about eBay. If there's a $5000 (Heritage price) coin on ebay for $4000, I'm going to buy it and send it to Heritage. So, if "high end buyers" are not outbidding you on ebay, it's because either they all missed it or, more likely, they consider the risk not worth taking. If you're smarter than all of them, you can profit from their fear. If you're not smarter than them, you are going to eventually get burned.

You can buy some very cheap cars from Facebook. My BIL is a gear head and he does it all the time, successfully. I refuse to buy my cars from anyone but a dealer, because I don't know enough and I want a reputable business behind the car. It's no different with coins.

RedRocket · March 25, 2026 9:05AM

@jmlanzaf said:

You can buy some very cheap cars from Facebook. My BIL is a gear head and he does it all the time, successfully. I refuse to buy my cars from anyone but a dealer, because I don't know enough and I want a reputable business behind the car. It's no different with coins.

It is pleasant to read a consumer believes car dealers are honest folks.
There are some who would disagree.

On a side note, Red is a bit perplexed as to why @jmlanzaf wouldn't purchase a vehicle from his BIL (Brother in Law) instead.

Red R.

jmlanzaf · March 25, 2026 9:59AM

@RedRocket said:

@jmlanzaf said:

You can buy some very cheap cars from Facebook. My BIL is a gear head and he does it all the time, successfully. I refuse to buy my cars from anyone but a dealer, because I don't know enough and I want a reputable business behind the car. It's no different with coins.

It is pleasant to read a consumer believes car dealers are honest folks.
There are some who would disagree.

On a side note, Red is a bit perplexed as to why @jmlanzaf wouldn't purchase a vehicle from his BIL (Brother in Law) instead.

Red R.

My BIL is a vet. He's good with cars, but I'm not making him check one out for me.

It's not that I trust the car dealer. It's that I have a business I can sue if I need to and a business that (usually) cares about it's reputation. And NY has a lemon law.

Random guy on Facebook? Good luck finding him again much less suing him or enforcing a lemon law.

It's no different with Heritage, Stacks or GC. They occasionally make mistakes, but you can trust they will protect their reputation and work with you if a problem occurs. Random eBay guy? Good luck. Reputable ebay business, different story.

BillJones · March 25, 2026 10:13AM

I have to major shows since the early 1970s. That’s the best place for me to buy items for my collection ALTHOUGH you have to know something about grading and prices. The vast majority of dealers a good, a few are not as sharp as they should and a few are bad news. The second group dealers usually don’t last long and a few bad ones survive for years, but most don’t. Next for me are the auctions which are almost always pricey.

Having good relationships with two or three trusted dealers is good if you are learning the ropes. Don’t expect the dealers to work for nothing. When a potential customer thought I should be selling coins to him for GreySheet bid, I asked him if he worked his job for 10 cents an hour. You have to pay prices which cover the cost of the coins, overhead and a reasonable income for the dealer.

For me, the GreySheet is the floor and retail guides and auction results for a “flexible ceiling.” If the price is triple bid, it’s got to be a hell of a coin, or it’s a rarity that is very seldom available.

RedRocket · March 25, 2026 10:23AM

@jmlanzaf said:

@RedRocket said:

@jmlanzaf said:

You can buy some very cheap cars from Facebook. My BIL is a gear head and he does it all the time, successfully. I refuse to buy my cars from anyone but a dealer, because I don't know enough and I want a reputable business behind the car. It's no different with coins.

It is pleasant to read a consumer believes car dealers are honest folks.
There are some who would disagree.

On a side note, Red is a bit perplexed as to why @jmlanzaf wouldn't purchase a vehicle from his BIL (Brother in Law) instead.

Red R.

My BIL is a vet. He's good with cars, but I'm not making him check one out for me.

It's not that I trust the car dealer. It's that I have a business I can sue if I need to and a business that (usually) cares about it's reputation. And NY has a lemon law.

Random guy on Facebook? Good luck finding him again much less suing him or enforcing a lemon law.

It's no different with Heritage, Stacks or GC. They occasionally make mistakes, but you can trust they will protect their reputation and work with you if a problem occurs. Random eBay guy? Good luck. Reputable ebay business, different story.

And with that further clarification we will have to agree to agree.
Red R.

cinque1543 · March 25, 2026 10:44AM

@safari_dude said:
I have noticed a huge increase in counterfeits listed on eBay from China. Some of them are scary they are so realistic looking. Now slabs are being counterfeited too, making the ‘fraud’ field even larger.

Just curious. On the fake slabs, are the certification numbers real? That is, if you go to the PCGS site (for example) and type in the certification number from the fake slab, will it bring up the real PCGS coin that the fake coin is trying to imitate?

oldglorycoins · March 25, 2026 11:06AM

@cinque1543 said:

@safari_dude said:
I have noticed a huge increase in counterfeits listed on eBay from China. Some of them are scary they are so realistic looking. Now slabs are being counterfeited too, making the ‘fraud’ field even larger.

Just curious. On the fake slabs, are the certification numbers real? That is, if you go to the PCGS site (for example) and type in the certification number from the fake slab, will it bring up the real PCGS coin that the fake coin is trying to imitate?

Yes

oldglorycoins · March 25, 2026 11:07AM

@jmlanzaf said:
I'm an eBay seller. I can be trusted. But if you don't know me, don't buy expensive coins cheaply from me. Why would any reliable seller sell high end coins cheaply. They wouldn't.

There is no SAFE bargain on ebay. EVERYONE knows about eBay. If there's a $5000 (Heritage price) coin on ebay for $4000, I'm going to buy it and send it to Heritage. So, if "high end buyers" are not outbidding you on ebay, it's because either they all missed it or, more likely, they consider the risk not worth taking. If you're smarter than all of them, you can profit from their fear. If you're not smarter than them, you are going to eventually get burned.

You can buy some very cheap cars from Facebook. My BIL is a gear head and he does it all the time, successfully. I refuse to buy my cars from anyone but a dealer, because I don't know enough and I want a reputable business behind the car. It's no different with coins.

This is a perfect answer

SimonW · March 25, 2026 11:26AM

One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

oldglorycoins · March 25, 2026 11:34AM

@SimonW said:
One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

Like bicentennial cents lol

jmlanzaf · March 25, 2026 11:39AM

@RedRocket said:

@jmlanzaf said:

@RedRocket said:

@jmlanzaf said:

You can buy some very cheap cars from Facebook. My BIL is a gear head and he does it all the time, successfully. I refuse to buy my cars from anyone but a dealer, because I don't know enough and I want a reputable business behind the car. It's no different with coins.

It is pleasant to read a consumer believes car dealers are honest folks.
There are some who would disagree.

On a side note, Red is a bit perplexed as to why @jmlanzaf wouldn't purchase a vehicle from his BIL (Brother in Law) instead.

Red R.

My BIL is a vet. He's good with cars, but I'm not making him check one out for me.

It's not that I trust the car dealer. It's that I have a business I can sue if I need to and a business that (usually) cares about it's reputation. And NY has a lemon law.

Random guy on Facebook? Good luck finding him again much less suing him or enforcing a lemon law.

It's no different with Heritage, Stacks or GC. They occasionally make mistakes, but you can trust they will protect their reputation and work with you if a problem occurs. Random eBay guy? Good luck. Reputable ebay business, different story.

And with that further clarification we will have to agree to agree.
Red R.

OMG! THAT'S NEVER HAPPENED BEFORE!

The Rocket is back!

lkenefic · March 25, 2026 11:49AM

Yes, I’ve definitely noticed an uptick in very convincing counterfeit coins… and slabs.

Years ago (a decade or more), I was comfortable buying raw coins on eBay. That changed when I started seeing increasingly convincing type pieces, especially early silver Draped Bust coinage. At that point, I shifted to purchasing only TPG-holdered coins.

When counterfeiters began producing convincing slabs as well, I adjusted again and limited my purchases to TPG coins from well-established dealers.

These days, I’ll still buy on eBay, but only from dealers I know or have previously done business with. Most of my purchases now are made directly from dealers at major shows.

rooksmith · March 25, 2026 11:53AM

@cinque1543 said:

@safari_dude said:
I have noticed a huge increase in counterfeits listed on eBay from China. Some of them are scary they are so realistic looking. Now slabs are being counterfeited too, making the ‘fraud’ field even larger.

Just curious. On the fake slabs, are the certification numbers real? That is, if you go to the PCGS site (for example) and type in the certification number from the fake slab, will it bring up the real PCGS coin that the fake coin is trying to imitate?

I have wondered the same thing myself. Just because a coins number is real, does not mean the coin is the same coin. the key to detecting this kind of fraud is to look for identical images on ebay, previous sales included then look for the same number. if there are two or more, you should be careful. Also, as counterfeiters get more sophisticated I think we need more sophisticated id's than just a number.

At some point, sending them in to PCGS to authenicate the holder as being authentic will be offered as a service by PCGS.

safari_dude · March 25, 2026 12:25PM

I actually bought my last two cars on eBay…sight unseen….but they were cars I knew about…..And the dealers were honest and I could see their businesses if I Googled them. 😉

Old_Collector · March 25, 2026 12:26PM

Perhaps EBay should just have a fake coins section to save everyone time, you want an 1804 dollar for $20, they have you covered.

They certainly have enough to make that a large segment of their business.

jmlanzaf · March 25, 2026 1:55PM

@Old_Collector said:
Perhaps EBay should just have a fake coins section to save everyone time, you want an 1804 dollar for $20, they have you covered.

They certainly have enough to make that a large segment of their business.

They can't. Any copy that does not conform with the HPA is illegal to sell.

Cougar1978 · March 25, 2026 2:07PM

I buy slabbed coins - PCGS, CACG

Not a buyer of raw coins.

Colonialcoin · March 25, 2026 2:46PM

@SimonW said:
One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

Generally speaking, yes, the eight reales are counterfeited more often that other denominations. That said, contemporary counterfeit two reales are avidly collected and are valued more than mint products. They are very easy to distinguish, but they don’t appear on the open market very often. There are also contemporary counterfeit eight reales. Easy to notice. The modern pillar fakes are fairly well done and they do scare me. My rule of thumb is not to buy a contemporary counterfeit unless it has crude die work.

lkenefic · March 25, 2026 2:53PM

I have to add to my previous comments that at least part of my evolution in buying TPG holdered coins and gravitating more to established dealers at bigger shows is also the coins I'm looking for. I've seen some pretty convincing counterfeit 1795 Half Dollars and would prefer buying (PCGS, CAC, or NGC) from a dealer or auction house that guarantees what they sell.

safari_dude · March 25, 2026 3:59PM

@Cougar1978 said:
I buy slabbed coins - PCGS, CACG

Not a buyer of raw coins.

I’m at that point too…..unless the coin is under $100 where if it’s been altered/cleaned, puttied, a good fake, or run over in a parking lot the loss isn’t going to hurt. Cheers, karl

RedRocket · March 25, 2026 4:10PM

@safari_dude said:

@Cougar1978 said:
I buy slabbed coins - PCGS, CACG

Not a buyer of raw coins.

I’m at that point too…..unless the coin is under $100 where if it’s been altered/cleaned, puttied, a good fake, or run over in a parking lot the loss isn’t going to hurt. Cheers, karl

Red believes that is extremely limiting and much joy and excitement is removed by restricting yourself so.

Longing for Yesteryear,
Red R.

TwoSides2aCoin · March 25, 2026 4:18PM

Plenty of walk in customers have presented fake coins, eagles, bars and rounds. A few in holders. Sigma tester works for the majority. But even that has its shortcomings. Recently got fooled with an AU 1909-S Indian Head Cent that I would have caught with my scale before submission if I had checked. Grrrrr. Yes it is rudimentary to exercise caution in this field.

Shurke · March 25, 2026 4:48PM

I buy raw coins on eBay with some regularity, but I tend to stick to lower priced items (my upper limit—which I don’t often approach—is somewhere around $200). And I only buy raw coins from series that I’m intimately familiar with.

As far as fake slabs go, there’s a lot you can do to protect yourself. The easiest method is to buy only coins that have high-res photos attached to their certification. If the picture the TPG took and the coin in the holder match, you’re all good.

Grading knowledge will also serve you well. Of the coins in fake slabs that I’ve encountered, the grade on the label is almost never appropriate to the counterfeit coin.

SimonW · March 25, 2026 11:30PM

@Colonialcoin said:

@SimonW said:
One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

Generally speaking, yes, the eight reales are counterfeited more often that other denominations. That said, contemporary counterfeit two reales are avidly collected and are valued more than mint products. They are very easy to distinguish, but they don’t appear on the open market very often. There are also contemporary counterfeit eight reales. Easy to notice. The modern pillar fakes are fairly well done and they do scare me. My rule of thumb is not to buy a contemporary counterfeit unless it has crude die work.

Absolutely agree, on all counts.

AngryTurtle · March 26, 2026 6:05PM

@SimonW said:
One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

Be careful to not underestimate the counterfeiters. I purchased what I thought was an obscure 16th century Spanish coin, thinking no one would counterfeit it. It came back from PCGS in a COUNTERFEIT body bag.

SimonW · March 26, 2026 9:11PM

@AngryTurtle said:

@SimonW said:
One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

Be careful to not underestimate the counterfeiters. I purchased what I thought was an obscure 16th century Spanish coin, thinking no one would counterfeit it. It came back from PCGS in a COUNTERFEIT body bag.

Was it contemporary? I certainly don’t trust it implicitly, I have had a minor bodybagged as a counterfeit, but they seem pretty few and far between currently. I’m not convinced it’s a fake anyway, but it did get bagged.

Sapyx · March 26, 2026 9:48PM

As with any hobby in which there's a well developed established market with educated buyers and sellers, buying coins is a case of:
- Nice
- Cheap
- Safe
Pick two. You can't have all three.

Nice coins going cheap? They're not as safe (maybe stolen, counterfeit, cleaned etc).

Cheap coins from trusted sellers? They're not as nice (low grade, problem coins, etc).

Nice coins from trusted sellers? They're not as cheap.

The only way around the issue is to try to find coin series that have high supply and low demand, and thus lower prices compared to other series. Modern world coins are still (relatively) cheap compared to US coins, ancients or mediaevals, for example.

Cougar1978 · March 27, 2026 6:48AM

Ideally I like buying at shows sight seen from reliable, trusted sources.

I have some junk box raw coins - under $50 cost most not even $25 cost in flps or 2/2.

AngryTurtle · March 27, 2026 8:41AM

@SimonW said:

@AngryTurtle said:

@SimonW said:
One way is to collect something that people are very unlikely to fake. I collect a lot of Spanish colonial pillar coinage, I do NOT collect the 8 Reales from Mexico (with the exception of a few type pieces.) They get faked with regularity.

On the other hand the 1/2, 1 and 2 Reales are almost never counterfeited.

Pick something that isn’t on the fakers radar, makes life easier.

Be careful to not underestimate the counterfeiters. I purchased what I thought was an obscure 16th century Spanish coin, thinking no one would counterfeit it. It came back from PCGS in a COUNTERFEIT body bag.

Was it contemporary? I certainly don’t trust it implicitly, I have had a minor bodybagged as a counterfeit, but they seem pretty few and far between currently. I’m not convinced it’s a fake anyway, but it did get bagged.

No, the consensus of the dealers i had look at it after the fact was modern Chinese counterfeit.

DesertCoin · April 1, 2026 11:47PM

Buy from highly reputable sellers ONLY on eBay if you’re not confident in you’re own ability to spot a fake from a mile away. I can recommend with 100% confidence the following list, who will send you good coins and will make it right if they make a mistake (there are many, many more I would recommend with equal confidence and know well; this is a starter list)
https://www.ebay.com/str/ingodwetrustcoinsandcurrency @InGodWeTrustCoins
https://www.ebay.com/str/oldglorycoinsandcurrency
@OldGloryCoinsandCurrency
https://www.ebay.com/str/coinheaven

safari_dude · April 2, 2026 4:06AM

@DesertCoin said:
Buy from highly reputable sellers ONLY on eBay if you’re not confident in you’re own ability to spot a fake from a mile away. I can recommend with 100% confidence the following list, who will send you good coins and will make it right if they make a mistake (there are many, many more I would recommend with equal confidence and know well; this is a starter list)
https://www.ebay.com/str/ingodwetrustcoinsandcurrency @InGodWeTrustCoins
https://www.ebay.com/str/oldglorycoinsandcurrency
@OldGloryCoinsandCurrency
https://www.ebay.com/str/coinheaven

Thank you! Looks like they all have some nice coins available…. Cheers, karl

Buying habits due to all the counterfeits…..

Comments

Leave a Comment