<< <i><< Heaven forbid people actually learn how to evaluate coins on their own. >>
I see this type of statement all the time. I would like to know exacxtly what this type of statement actually means. Do you want people to have to enroll in a 10 year study program to learn how to evaluate a coin before they buy their first one? It takes time to become competent enough to evaluate your own coins properly. These type of statements are stupid.
I just love the Azz holes that know everything and spend so much time patting themselves on the back and belittling people with their so called (Mostly BS knowledge) If the truth was known..they probably buy from Lara and take her word . and if not from her....other knowledgeable dealers. If the shoe fits...wear it..if not..dont worry about it
<< <i>Heaven forbid people actually learn how to evaluate coins on their own. >>
Wasn't one of the points of PCGS to make coins a widely traded, sight unseen commodity that anyone could dabble in? Wall Street investors don't have time/don't care about the die characteristics of an 1893-S Morgan.
On top of that, even if I could grade every series like a master it wouldn't matter if counterfiet slabs became a serious issue because the coin market would be in serious, serious doo-doo.
First Gen Pokemon cards anyone!?
"I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
Posts: 10000 Joined: Feb 2001 awsome 10000 post there. all very true and to the point!!!!!
<< kranky Master Collector
Posts: 10000 Joined: Feb 2001 Friday November 03, 2006 8:23 AM
It's good to learn how to grade, but if people can get 10x the money for a coin slabbed one point higher AND experts could still disagree whether the grade is correct, then let's be realistic about it - faking slabs could be a very lucrative endeavor.
Having good grading skills is not a solution, unless we are going to claim there are no liner coins. Holograms are not a solution.
Folks, just look at how much money is at stake. Look at how many widgets (no disrespect intended) get bought and sold and bought and sold. If a scammer takes an MS65 $50 coin, puts it into a fake slab with a legit 66 insert to make it a $500 coin, does anyone really think that is going stick out like a sore thumb? Heck no. What if they use only just-missed coins? They will blend right in. You might not buy them for your personal collection if you're a good grader and examine them closely, but you wouldn't look at the coin and say "Something's wrong - this coin could never be in a legit 66 slab!"
supercarcoins wrote:
<< there are plenty of greedy dealers to support a criminal network run by professional scammers- >>
Sadly, this is probably true. You could have an established dealer be the conduit to move the fakes into the market. As long as the coins are close and the inserts are legit, who knows how long it would work.
Face it, the technology exists, the money is big enough to make it appealing. Let's not put our heads in the sand. We better be on guard. If the premiums for one point higher weren't so outrageous, this wouldn't be an issue. But if experts can't agree on whether a coin is a 65 or a 66, but in a slab people are willing to pay 10x the money or more for the 66....
------------------------- New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about. >>
Comments
<< <i><< Heaven forbid people actually learn how to evaluate coins on their own. >>
I see this type of statement all the time. I would like to know exacxtly what this type of statement actually means. Do you want people to have to enroll in a 10 year study program to learn how to evaluate a coin before they buy their first one? It takes time to become competent enough to evaluate your own coins properly. These type of statements are stupid.
I just love the Azz holes that know everything and spend so much time patting themselves on the back and belittling people with their so called (Mostly BS knowledge) If the truth was known..they probably buy from Lara and take her word .
<< <i>Heaven forbid people actually learn how to evaluate coins on their own. >>
Wasn't one of the points of PCGS to make coins a widely traded, sight unseen commodity that anyone could dabble in? Wall Street investors don't have time/don't care about the die characteristics of an 1893-S Morgan.
On top of that, even if I could grade every series like a master it wouldn't matter if counterfiet slabs became a serious issue because the coin market would be in serious, serious doo-doo.
First Gen Pokemon cards anyone!?
<< <i>
<< <i>Oh, what a tangled web we weave, when first we practice to deceive---Rasputin >>
Yes, William "Rasputin" Shakespeare!
Sir Walter Scott
A tale of Flodden Field
1808
got my first bust half dime, its in an old anacs holder,is it fake?
Master Collector
Posts: 10000
Joined: Feb 2001 awsome 10000 post there. all very true and to the point!!!!!
<<
kranky
Master Collector
Posts: 10000
Joined: Feb 2001
Friday November 03, 2006 8:23 AM
It's good to learn how to grade, but if people can get 10x the money for a coin slabbed one point higher AND experts could still disagree whether the grade is correct, then let's be realistic about it - faking slabs could be a very lucrative endeavor.
Having good grading skills is not a solution, unless we are going to claim there are no liner coins. Holograms are not a solution.
Folks, just look at how much money is at stake. Look at how many widgets (no disrespect intended) get bought and sold and bought and sold. If a scammer takes an MS65 $50 coin, puts it into a fake slab with a legit 66 insert to make it a $500 coin, does anyone really think that is going stick out like a sore thumb? Heck no. What if they use only just-missed coins? They will blend right in. You might not buy them for your personal collection if you're a good grader and examine them closely, but you wouldn't look at the coin and say "Something's wrong - this coin could never be in a legit 66 slab!"
supercarcoins wrote:
<< there are plenty of greedy dealers to support a criminal network run by professional scammers- >>
Sadly, this is probably true. You could have an established dealer be the conduit to move the fakes into the market. As long as the coins are close and the inserts are legit, who knows how long it would work.
Face it, the technology exists, the money is big enough to make it appealing. Let's not put our heads in the sand. We better be on guard. If the premiums for one point higher weren't so outrageous, this wouldn't be an issue. But if experts can't agree on whether a coin is a 65 or a 66, but in a slab people are willing to pay 10x the money or more for the 66....
-------------------------
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about. >>
<< <i>Why not just laser engrave the grade on the coin like they do to identify diamonds? >>
Body bag, altered surfaces.
PCGS, ANACS, & NGC Certified Coins on My Website.