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- - Counterfeit Slabbed Coins Coming Out of China (http://goldismoney.info/forums/showthread.php?t=275164)

madfranks | 06-18-2008 09:43 AM
Counterfeit Slabbed Coins Coming Out of China There was an article about this in this month's CoinAge magazine, about how counterfeit PCGS and NGC slabs are coming out of china complete with fake coins inside. If you collect numismatics, I encourage you to pick up a copy of the mag, they have pictures of fake slabs versus real ones, they probably wouldn't be noticed unless you're looking for them. Everybody watch out if you're buying on eBay! Quote:
COUNTERFEIT PCGS HOLDERS - March 27, 2008 In recent days, counterfeit coins in counterfeit PCGS slabs have begun to appear on eBay, the online auction site. All of the counterfeit coins/holders seen so far are coming out of China. Alert members of the PCGS Message Boards were the first to notify PCGS of the counterfeit coins/holders. The coins themselves range from poor-quality counterfeits to well-made fakes. The counterfeit PCGS holders are well-executed, but with minor differences from a genuine holder. PCGS anticipates that authentic coins will eventually be placed into counterfeit PCGS holders in the future, perhaps with elevated grades and/or inappropriate designators (Full Bell Lines, Prooflike, etc.), although none have been seen to date. The on-line PCGS Certificate Verification is a method for confirming that a particular certificate number matches the information in the PCGS database, but the counterfeiters are aware of this detection method and are now using valid certificate numbers (see below). PCGS has contacted U.S. governmental agencies, including the FBI, U.S. Customs, the Secret Service, and US Postal authorities, to enlist their assistance in pursuing enforcement or legal remedies against these counterfeiters. Also, PCGS is a member of eBay's CCW Group, which monitors eBay for fraudulent listings and asks eBay to discontinue auctions of suspicious coins and/or suspend violators. PCGS has called for eBay to stop accepting listings of any rare coins from Chinese sellers. Ebay recently pulled several auctions of counterfeit coins/holders at the urging of PCGS. PCGS urges consumers not to purchase rare coins from Chinese sellers on eBay. While legitimate, authentic coins exist in China, the plethora of fakes and fraudulent listings on eBay increase the likelihood that coins purchased from Chinese sellers will be counterfeit. The PCGS Guarantees of Grade and Authenticity do not apply to counterfeit holders, but PCGS has a strong interest in assisting consumers in actions against any fraudulent sellers. Sufficient differences exist between genuine and counterfeit holders such that PCGS experts can easily identify fake holders. Consumers are cautioned that coins that appear to be underpriced may be counterfeit. PCGS urges all consumers to deal only with reputable sellers who are willing to stand behind the coins they sell.
http://www.pcgs.com/articles/article...universeid=313 Oh well, there's always bullion.

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