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Chinese copies and fakes of coins that might sell, if legitimate, for thousands of dollars, can fool anyone who isn’t expert … and, now and then, they fool the experts.
The problem is such that a consortium of rare coin organizations and businesses got its dander up about how “the public is spending millions of dollars on fake U.S. coins offered in online auctions and elsewhere, such as flea markets and swap meets.”
That was a couple of years ago. Today, the counterfeiters have expanded beyond rarities, into less valuable and therefore more saleable common variety collectible coins. The advantage there being that no one is going to pay an expert’s fee to authenticate a coin bought for $25 or $50, so they can flood the market without fear of fuss.
The problem is such that a consortium of rare coin organizations and businesses got its dander up about how “the public is spending millions of dollars on fake U.S. coins offered in online auctions and elsewhere, such as flea markets and swap meets.”
That was a couple of years ago. Today, the counterfeiters have expanded beyond rarities, into less valuable and therefore more saleable common variety collectible coins. The advantage there being that no one is going to pay an expert’s fee to authenticate a coin bought for $25 or $50, so they can flood the market without fear of fuss.
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