Fake silver dollars from the far East

[TheeGman]

Just a quick note to all uninformed or newbie coin buyers. Beware of coin sellers from Hong Kong, Shanghai and just about any country or city in Asia. I have been collecting for 20+ years and selling online for about eight years. At the very least about 95% of coin sellers in Asia selling on U.S. auction sites are selling counterfeit silver dollars, mainly Trade and Morgan dollars but also including Draped Bust, Seated Liberty and Peace dollars. Don't be fooled by these sellers, one obvious one is on this site! These coins have opening bids of $30-$40 dollars which is ridiculous for a coin that could be worth hundreds and even thousands. Do your homework - do a google search on fake silver dollars and see for yourself.

[DealsHQ]

Post a link to the auction so Admin can look at it or at least report it to ADMIN.

thanks

[katandron1]

It also helps Admin check on the authenticy if you can provide some kind of documentation on a real one. That way he can quickly identify a fake and get it off the site. If you find what you believe to be a fake, please create a help ticket on it, with any documentation that will assist him.

We need you guys that do collect and deal with these coins to report fakes, I have been directed towards fakes, but to me it looks like a coin.

[Lanascountry]

Great info, Gman..Many thanks!! There is no way we can keep up with all
these repro markets, but folks in the know (like yourself) help us a great deal. We
have been watching this particular market for some time. Thank you!

[TheeGman]

Thanks for the replies. I submitted a help ticket with basically the same info as in my first post. I also added that if they don't believe what I'm saying, then admin. should purchase one of these coins and take it to a reputable coin dealer to look at and weigh. These are all hard to find and expensive coins that would go for at least ten times what he is selling them at (and they are all fixed prices). If I had those coins, (and they were genuine- OOPSI would auction them off, not sell at $20-$50 a shot. Too obvious. All of the coins look the same, with the same artificial toning to help hide their imperfections.

[admin]

tg,

Unfortunately having a venue such as WeBidz will attract sellers that have less than genuine goods. We get reports from our members all the time, which helps us to control the amount of these goods on the site. Any time you submit a report, please include any supporting documentation you are aware of. Being a collector, you will know much more than us. We fully investigate all reports, and take action on many.

We know it is not your job or any of our other members jobs to report these type of items, but it will benefit all to have as little of these types of items as possible.

[TheeGman]

He's back selling on Webidz under the name "coinhome88", edit the name if you must but he's already taken one buyer with his fake coins. Don't let him get anymore. Will be reported to administration. Please, no more coin sellers from asia!:mad: Keep this post going so no more buyers will be taken. Scammers like this creep ruin this site for everyone!

[mj-trading]

Sorry to hear that! Please make a Ticket on this for Admin!

[Lanascountry]

Gman, Please do a report at this link and I will contact
admin as well.
Link>>
http://helpdesk.webidz.com/
Thank you for watching this! :)

[tdmorgan]

Uh, someone should be contacting the FBI, since this is counterfeiting US currency.

http://www.treas.gov/usss/field_offices.shtml

This is a FELONY!!!

[Gary321]

Alot of china's merchants are knockoff scammers. Sad but true.

[TheeGman]

The FBI is probably powerless when it comes to China. They could get in touch with officials in that country but for all we know THEY are probably the ones financing the counterfeiter's operations. The seller's from Hong Kong get kicked off (sometimes) change their names and reopen with a different I.D. and sell the same junk all over again. The newest seller is kisonat and all the coins are the same - rare dates at low prices with the same artificial toning. Check them out and you'll see what I mean. Webidz needs to have these Hong Kong sellers send in a refundable deposit of at least $500. That way when somebody buys one of their fakes (usually the newbies to the hobby), takes it to a coin dealer who will tell them it is a fake, then Webidz can issue them a refund out of the seller's deposit. I guarantee if these sellers were asked to make a refundable deposit of that amount, they would go elsewhere and not ruin this site for the potential buyers from reputable sellers.

[starshinin]

theegman...love ur pups!!

[TheeGman]

Thanks star - they're a handful for sure, You have a couple of cuties there too;)!
:)DOGS RULE!:)

[Lanascountry]

You got that..what precious babies!! :D

[TheeGman]

Thanks Lana,
The Pug/Pekenise and the Jack Russel/Beagle mix are my wife's pups (They are the bad ones, always on the couch when we're sleeping or not home and barking at everything they think they hear! :eek:) and the Golden is mine (He does no wrong except for slobbering and constantly shedding his fur - everywhere! :D)

[Lanascountry]

OHHHHHHHHHH G man ....How precious (anyway) :D!! Ohhhhhhhhh I love 'em!!
Mine is a feist Jack Russell terrier and she barks at the wind..!! She is so smart.
Is your JR real smart too?? (well mine is not to smart barking at BUGS..but otherwise!):D

[TheeGman]

Susie-Q, (our JR) must be smart because she sees and hears things that we cant. Her bark is like an alarm clock going off, she could be sound asleep one minute, hear a noise and be running towards it at full stride and loudness in a second. When she gets yelled at, she switches to barking and growling at the same time (funniest thing you ever heard, I wish I could get it recorded.) I guess I should be happy I have at least one watchdog in the house because my Golden Retriever hardly barks at all. I guess he learned as a puppy, from the other two, that barking alot only gets you yelled at:D