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eBay 1804 Dollar on CoinPeople Homepage


mmarotta

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I just found it ironic, is all. I know that CoinPeople earns revenue from advertising and that you have no control over the content. For several days, I have been pursued by a church here in my area. So, I understand. I just found it ironic. I captured the screen and I am going to use it in an essay for my libertarian friends who assure us all that an unregulated market is always good for everyone. (I mean I accept that as a generalization... but only as a generalization...)

 

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Do you feel that eBay has really cleaned up its act over the past two years?

 

So, is this coin genuine?

ttp://www.ebay.com/itm/1798-Large-Eagle-Draped-Bust-Silver-Dollar-PCGS-VF-35/360766764261?hash=item53ff5ff4e5

 

I have to ask and I have to apologize for having to ask. I actually hold several ANA certifications and I have written for the ANA, Coin World, and several others. But US is not my interest area, and I never, ever shop on eBay, so I have no experience judging the content. This coin just looks fake and therefore I suspect that the PCGS holder is a fake as well. But I could be wrong (easily), so I am asking.

 

The reason why I even am looking is that although I am a committed libertarian, I am writing an article about the risks of a laissez faire open market with caveat emptor as its only control. In other words, I think that despite recent improvements in eBay, I can find tons of fakes on eBay, but on Wall Street such scandals are infrequent but large - Enron, Worldcom, Madoff.

 

And, finally, I have to apologize for starting yet another "fake on eBay" thread. But the question remains: Is eBay truly safer than it was two years ago?

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I believe the item you are asking about has been removed from Ebay. Given its nature, one must beware of counterfeits. Slabbing helps, but then one must beware of fake slabs and verify the serial number on the slab with the TPG.

 

I have purchased over 1000 items on Ebay over the years and have never received a fake item. I had one item that I never received and Ebay refunded my money when the seller did not respond. I had one item not received that the seller refunded when I notified them. I had two items shipped that were not the items pictured in the lot on Ebay. In the first case, I received the proper item from the seller, an apology, and a refund of my costs. In the second case, there were actually two different versions of the medal I bought. The seller did not realize that and thought he had sent the correct piece and could not find the other. I received a refund and a month later the dealer sold me the correct piece for half of what I had bid as an apology. He had misplaced the piece and understood his mistake when he had it in hand. He completed the sale by giving me a discount even theough the piece I bought was a rare variety.

 

Are there more cases of fraud on Ebay than on a bourse floor? Probably, but I would not spend several thousands of dollars on an early silver dollar withour first inspecting it in hand or knowing the dealer. Are there good honest sellers on Ebay? Most definitely.

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  • 1 year later...

I sell replica coins on eBay as gap fillers, educational handling examples and living history tools. I make very sure that the description is very clear that the coin for sale is a replica. Some of the replicas being made in China are obvious modern replicas but others are extremely good and might fool even an expert who examined the pictures alone. I sometimes have to stamp the coin with a replica mark myself, especially some of the copper coins.
eBay has tightened things up but it's still a long way from watertight. If you mention the word 'replica' in the title or description, you get a heads up asking to make sure the coin is in the Coins>Novelty section. Even then, it's up to the seller where it gets listed, there is a George III Northumberland shilling on eBay right now that is obviously from the same stock as those I sell for £4.50 per piece being offered as an original.
Be vigilant....

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  • 4 months later...

I must admit, I have never bought a valuable coin on eBay.

I like to examine every valuable coin 'in hand first, before making a decision to buy.

 

Don't get me wrong. eBay is a great place to buy and sell coins, but it is perhaps unwise to buy highly valuable coins (say, over $100) via ebay. That way, you can put an upper limit on your risk.

 

Also OK to buy valuable coins via eBay provided that the seller has the highest of long established professional reputations that is jealously guarded by the seller. That way, perhaps the trust situation is such, that examination 'in hand' may not be necessary, provided the sale has a full guarantee attached.

 

 

In my opinion, OK to buy and sell fake coins provided that they are knowingly bought and sold as such. I have a reasonably good reference collection (both ancient and modern) of fake coins for my own education in learning in practical way, how to identify them. That is using the products of dishonest people against them. Most dealers have a reference collection of fake coins for the same reason.

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