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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 09/10/2009 : 16:23:44
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There's a flood of these China replica numismatic coins on EBAY. When did it all start? Will it get worse?
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zerocd
Penny Hoarding Member
555 Posts |
Posted - 09/13/2009 : 05:04:05
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I have some of these that were my fathers from 20+ years ago. Are they worth anything?
0CD |
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WheatieFan
Penny Pincher Member
USA
106 Posts |
Posted - 09/15/2009 : 18:46:17
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I think that the article is deceptive, in that the picture of the coin is not the topic of the article.
The topic of the article is counterfeits of popular coins that collectors may be duped into buying. Specifically mentioned are Canadian, US, and Russian coins. It is not surprising that they are legal to produce in China, ostensibly as 'replica's. I'd be surprised if it were against the law in the USA to produce 'replica's of ancient Chinese coins. A quick internet search will reveal that sources in China will mint whatever you want, with or without a 'copy' or 'replica' imprint, for a set fee.
They started in China. They will get worse. They have even faked slabs.
As for the coin pictured and others like it, zerocd, I would say that I value them at $0.50-$2.00 each, depending on the markings. They are referred to as "chinese cash" and are common. There were billions minted over hundreds of years.
-wheatiefan
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 09/16/2009 : 01:14:26
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| To tell you the truth, I am more worried about the Chinese passing off fake junk silver coins in the future. It probably happens anyway, but that would hit home much harder. |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 09/21/2009 : 08:01:58
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Getting to be a real problem with the coin market. As the hobby has grown substantially lately the amount of fakes, counterfeits, copies, etc. have grown also. And it's not just the coins, but the slabs too are now being copied. So a possible TPGS such as NGC and others may not be what they appear lately. And if you try to weigh some of the fakes you may be shocked that they are the same as the real ones. Many stories of the China fakes are that they make them out of the same exact metal composition as the real ones since they are selling them for numismatic purposes, it pays well to use the same materials.
And it's not just Silver coins. Now you have to really start watching rrare pennies, nickels, dimes, etc. too. I suppose there are also many error coins being manufactured too. |
Carl |
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 10/13/2009 : 17:41:24
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quote:
Originally posted by just carl
Getting to be a real problem with the coin market. As the hobby has grown substantially lately the amount of fakes, counterfeits, copies, etc. have grown also. And it's not just the coins, but the slabs too are now being copied. So a possible TPGS such as NGC and others may not be what they appear lately. And if you try to weigh some of the fakes you may be shocked that they are the same as the real ones. Many stories of the China fakes are that they make them out of the same exact metal composition as the real ones since they are selling them for numismatic purposes, it pays well to use the same materials.
And it's not just Silver coins. Now you have to really start watching rrare pennies, nickels, dimes, etc. too. I suppose there are also many error coins being manufactured too.
Yes, there are. I watched a coin expert document many forgeries from China on error pennies back in March at the Central Florida Coin Show.
He was weighing them and using a micrometer. Not sure how they "measured" up to the real thing. I think an article was written up on either the CONECA website or perhaps in one of their publications since that time. |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 10/14/2009 : 01:05:00
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I read that the fake PCGS and NGC slabbed coins will not stack with the real ones. So take some slabbed coins with you if your purchasing from a private party(to check if they stack nicely). I sell on ebay but don't buy coins on there anymore for the fear of counterfeits. The last item I purchased on ebay were some chocolate fruit-drop cookies(turned out to be horrible).
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 10/14/2009 : 01:12:49
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Maybe they used fake chocolate.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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barrytrot
Administrator
USA
721 Posts |
Posted - 10/14/2009 : 07:47:11
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There are also a dozen or so known examples of REAL PCGS and NGC slabs with counterfeit coins in them. That is the really scary one! A counterfeit so good that the 2 or 3 professional graders that have to look at each coin prior to slabbing didn't catch it!
Still out of several million PCGS/NGC/ANACS coins only a very tiny portion that are fake, so if you are concerned about eBay just buy "slabs".
And to promote eBay: I wouldn't be worried about fakes unless you are buying things from lesser known and NON-US vendors. Sure they are still possible, just like its possible to find some fakes at your local brick-and-mortar shop. But I have bought an amount that boggles the mind of my wife and inspected them and never found a single counterfeit and I have bought rarities a few times! |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 10/14/2009 : 10:47:38
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quote:
Posted - 10/14/2009 : 01:05:00
I read that the fake PCGS and NGC slabbed coins will not stack with the real ones. So take some slabbed coins with you if your purchasing from a private party(to check if they stack nicely). I sell on ebay but don't buy coins on there anymore for the fear of counterfeits. The last item I purchased on ebay were some chocolate fruit-drop cookies(turned out to be horrible).
Not exactly true you know. The copied fake slabs are so close to real that many professional dealers are fooled. If the counterfieters take the initiative to make the ooins appear real in all aspects, there is nothing to making a fake piece of plastic. Not only that but if you look up TPGS's on Google you would find there are close to a hundred of them or so it was the last time I looked. Possibly more by now. And just who are they? Some could be in China or in someone's basement.
Now here is something scarry. At a coin show a dealer that knows me showed me a famous TPGS slab with a lable of a valuable Cent. Inside was a beat up, dirty, dented Roosevelt Dime. He did it to show people that the slabs could be opened and a different coin put in there.
As to fakes being detected by a professional. Another dealer I know purchased a 1916D Mercury Dime. He swore it was the real thing. He sent it out for grading and it came back in a slab and graded. He didn't like the grade so he removed it and sent it to another TPGS. This time it came back as a fake. HMMM, so who knows.
On the brighter side a really good counterfeit may sell for more than the original in some instances. Just as there are now error collectors, there is a growing amount of fake coin collectors.
And it's not just coins you know. At a flea market near me I tried to count all the different ways a Duracell battery was spelled. I ended up not really knowing how to spell the real ones. The auto industry is really getting famous for what is called knockoffs. Some are made here and many are made in places like China. Think about that the next time you have new brakes put on your car. |
Carl |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 10/30/2009 : 22:27:10
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quote:
Originally posted by beauanderos
I hope it never gets to the point that the Chinese start counterfeiting 90% face coins as silver rises. Can you imagine how easy it would be for unwary buyers to have a large proportion of junk bag purchases turn out to be fake?
By that time it will be the poor Americans making fake coins to sell to the rich Chinese. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Replica Coins from China Pass as Real on Web Sites
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