Was it a mistake for CW to publish the flaws in counterfeit PCGS slabs?
MrEureka
Posts: 24,671 ✭✭✭✭✭
This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along?
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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<< <i>This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along? >>
Andy, I have often said the same things about the threads on this forum...with nice digital photos and arrows and all the info anyone might need to ID a fake...also showing the "bad guys" where they need to improve...
I think it would be naive to think they do not lurk on this forum...as well as elsewhere...
Double edged sword...good to educate folks so they don;t get scammed BUT we educate the scammers in the "bargain"...
Don't know a solution...
<< <i>This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along? >>
Yes, because this will force PCGS to speed up development of a new slab. I think they should embed an RFID chip in each slab.
That's expensive, but there are other things they can and will be doing.
They have to because survival of TPG business model is at stake.
After all if you can not provide authenticity, the party is over.
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>This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along? >>
I see this as a problem, but I rank it second biggest just after the fact that you can find the instructions for building an atomic bomb on the internet.
myCCset
<< <i>don't see where RFID tags are going to help at all! what about all the millions of coins that are already out there >>
You have to start somewhere.
<< <i>I think they should embed an RFID chip in each slab.
That's expensive, but there are other things they can and will be doing.
They have to because survival of TPG business model is at stake.
After all if you can not provide authenticity, the party is over. >>
I though RFID tags were relatively inexpensive, especially in bulk (roughly 25¢ or so). IMO this would be a fairly easy cost to pass on as well.
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The databases of cert numbers provided by PCGS can be used to double check a slab can't they? I like the idea of adding a photograph of every coin certified to that DB. You could simply whip out your iPhone and check the cert number before buying...
When everybody was talking about potential terrorist targets the local newspaper ran a front page story about the blue cube. It is a large, blue building that controls various military satellites and is close to several freeways. People thought that was a dumb story to run but you can't hide and keep secret things like that. The bad guys can find this stuff out and have incentives to do so. Publishing the info helps, at least in the case of counterfeit slabs, consumers. So I think it publishing that info is good.
Works great and they're cheap.
They like it because if they fire you they can delete your access code so if you keep the badge it won't open the doors.
BUT they're easy to duplicate, just read it in a reader and you have the code. And they ordered the RFIDs from China because they were cheaper.
<< <i>
<< <i>This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along? >>
I see this as a problem, but I rank it second biggest just after the fact that you can find the instructions for building an atomic bomb on the internet. >>
but you need to have plutonuim!
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<< <i>This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along? >>
This is only an issue if you think the counterfeiters do not know the differences and are not working on remedies already.
The flip side is that the article protects buyers, helping them avoid this generation of counterfeits, which would be probably be enhanced anyway.
The only flaw would be if the counterfeiters photocopied the unique barcode for of the original and put it on the fake.
But this would increase their work and risk significantly.
Cashback from Mr. Rebates
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Its not like they cant get a genuine one to compare with.
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.
the slab they showed as an example had a BU coin in an XF40 holder
what type of collector would that fool?
With the RFID chip, would there also be a way to monitor when a slab was opened? While most times that would be by a collector who prefers raw or is hoping to resubmit, it might be able to find some people altering them too. I have not devised a plan to figure this out yet, just an idea I had.
Could they also be used as a (somewhat) GPS? That would really help if your coins got stolen, just give them the # on the slab and the GPS finds it.
<< <i>
<< <i>This week's CW provides an excellent guide to detecting Chinese fake PCGS slabs. The problem, of course, is that the counterfeiters probably read CW. It won't be long before the fakes are perfected. Now, I suppose perfection was inevitable, but was it a good idea for CW to speed things along? >>
I see this as a problem, but I rank it second biggest just after the fact that you can find the instructions for building an atomic bomb on the internet. >>
I found the instructions for building a "homemade X-Ray machine" on the internet once.
I should have bookmarked the site. The authors warnings were hilarious.
You wouldn't believe how long it took to get him to sit still for this.
<< <i>They already know the differences they are not dumb.
Its not like they cant get a genuine one to compare with. >>
I agree.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
My reading of that article led me to believe that they were merely re-publishing info that was already published in Scott Travers' latest book.
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