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 Rip Off Alert... Silver Clad Eagles
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beauanderos
1000+ Penny Miser Member


USA
2408 Posts

Posted - 05/30/2010 :  09:42:50  Show Profile Send beauanderos a Private Message
Well, it's happened. Don't know who is putting these things out, but some unwary bidder on ebay is bound to get suckered sooner or later on one of these. Be careful out there. Advertised as 71mg .999 silver plated, they look nice... but that's only 42 cents worth of silver (at $18.50 melt) You must be logged in to see this link.

Hoard now and hold on!

http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/

beauanderos
1000+ Penny Miser Member



USA
2408 Posts

Posted - 05/30/2010 :  09:55:22  Show Profile Send beauanderos a Private Message
People are buying these things! Don't they read the listings? Or do they not understand that 100 mil silver plating is essentially worthless? Talk about putting lipstick on a pig You must be logged in to see this link.

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Hoard now and hold on!

http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/

Edited by - beauanderos on 05/30/2010 09:57:27
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misteroman
Administrator



USA
2565 Posts

Posted - 05/30/2010 :  14:52:53  Show Profile Send misteroman a Private Message
surprised it took this long for someone to do it. bet that guy is getting scores og emails from people trying to buy thousands of them as well

Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area.
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Beau
Penny Pincher Member



216 Posts

Posted - 05/30/2010 :  16:47:45  Show Profile Send Beau a Private Message
misteroman,
I agree with all the con men out there selling for the real thing.
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wolvesdad
1000+ Penny Miser Member



USA
2164 Posts

Posted - 05/31/2010 :  08:47:01  Show Profile Send wolvesdad a Private Message
Hey, at least the thing is marked for what it is, even says "COPY" on the shield on the reverse of the Silver Eagle.

What I fear moreso is clever copies out of China that suppose to be .999 solid and pure, but are plated/clad/etc.

"May your percentages ever increase!"
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battlecat
Penny Pincher Member



152 Posts

Posted - 05/31/2010 :  08:59:42  Show Profile Send battlecat a Private Message
quote:
Originally posted by wolvesdad

Hey, at least the thing is marked for what it is, even says "COPY" on the shield on the reverse of the Silver Eagle.

What I fear moreso is clever copies out of China that suppose to be .999 solid and pure, but are plated/clad/etc.


Your correct, Ive also heard of bars and rounds comming out of china the same way, key date morgans etc. Im not sure how you would get around this
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L1011
Penny Collector Member



310 Posts

Posted - 05/31/2010 :  12:03:08  Show Profile Send L1011 a Private Message
I understand where the OP is coming from, at least the auction item is clearly marked and the coin too, as mentioned, it's the ones that aren't marked and are produced to scam the buyer, those are the real problem
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rexmerdinus
Penny Sorter Member



47 Posts

Posted - 06/01/2010 :  00:22:10  Show Profile Send rexmerdinus a Private Message
quote:
Your correct, Ive also heard of bars and rounds comming out of china the same way, key date morgans etc. Im not sure how you would get around this



On a sort-of related note, I bought a handful of VERY obviously faked trade dollars a few years ago in Manila as a curiosity. With the exchange rate at the time I basically got them for face value, especially after I told the urchin how I knew they were fakes. He got to sell his stuff and I got a few interesting counterfeits, so I think we actually both walked away happy from the deal! Poor quality metal, incorrect or lightly struck devices, and some of them even had identical die cracks! They did actually show some age, though, in the form of dirt/tarnish/patina and what appeared to be genuine circulation-wear (which of course could have easily have been produced by running a bunch of them through an industrial washing machine or, perhaps more practically in the third-world country, inside the tires of a taxi cab or something)

Getting back to the point, as most of us probably know, con-artists and counterfeiters are not a new phenomenon. I did a little research when I got back home, and found that my particular scores had most likely come from China, having been produced (if I recall correctly) around the 1920's or 1930's. Trade dollars were particularly susceptible to Chinese fakery even back then because they were originally produced to trade with China. As a side note, I also learned that genuine trade dollars that have traded in China almost always bear some type of Chinese-character counterstamp of the name of the merchant or banker through whose hands they passed.

Ebay's policy is to shut sellers down and possibly turn them over to authorities if they are found to be peddling fakes as genuine (i.e., with no "COPY" counterstamp, or with false claims to authenticity in the listing), but on legit auctions of reproductions the uninformed buyer is still susceptible to being duped by assuming they're buying a solid silver coin. There's really not much that can be done (nor, perhaps, should there be in a free market) to protect people from their own lack of knowledge and from sellers who legally (though immorally) take advantage of them.

Edited by - rexmerdinus on 06/01/2010 00:23:22
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PreservingThePast
1000+ Penny Miser Member



USA
1572 Posts

Posted - 06/01/2010 :  15:46:51  Show Profile Send PreservingThePast a Private Message
On a similar sad note...I found this link today on Coinflation.

Our soldiers are getting ripped off buying these fake coins.

You must be logged in to see this link.

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beauanderos
1000+ Penny Miser Member



USA
2408 Posts

Posted - 06/01/2010 :  21:59:25  Show Profile Send beauanderos a Private Message
quote:
Originally posted by PreservingThePast

On a similar sad note...I found this link today on Coinflation.

Our soldiers are getting ripped off buying these fake coins.

You must be logged in to see this link.



Nice article, Marcia... thanks for posting

Hoard now and hold on!

http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/
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