Counterfeit Canadian Coins : eBay Guides

If you've stopped by to read this, then I hope you find something useful here. I, and I'm sure others have noticed a bunch of rare Canadian coins popping up for sale on the "internet" lately that originate from China. For what it's worth, I'd like offer these observations on the subject.

 In this hobby, like any other, knowledge is the best tool you can have. It can save you money,minimize your risk and help maximize your purchasing dollars.Lack of knowledge and assumptions on the other hand, are a guarantee for disappointment period.Learn to grade what you want to collect. Buy books, talk to other collectors. Learn as much as you possibly can and get informed opinions if you're not sure of something.

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It's been my experience that early high grade/key date coins don't trade that often, and when they do, they are usually in the hands of knowledgable dealers and collectors or sold at major auctions /private deals.In other words, they tend to travel in different circles than the typical coins you see. What's more, the history these coins is generally known by such people. It is a small world and even smaller when it comes to this stuff.. Certainly  some pieces turn up that are previously unknown from time to time,but this would be an exception rather than rule.

If you are contemplating bidding on one of these coins originating from China, you may want to consider the following. Is the seller known to any knowledgable dealers in North America?  If you don't know of any, there's plenty of them listed in publications such as Canadian Coin News. A bit of searching on the net will provide some results too.

 If the seller is not known,  has a questionable feedback rating, or routinely has listings cancelled by eBay,your alarm bells should be ringing. One more thing to consider: The likelihood of someone being knowledgable enough to specialize in Canadian coins? It's possible, but again, they would've had to get them from somewhere, most likely North America, and most likely a dealer. I can't imagine a huge base of advanced collectors in China for Canadian coins. If there is, I want to meet them.

If the rare coins aren't enough, there seems to be certified rare coins being offered. I would strongly suggest getting a number off the holder and confirming it with the grading company before you hit the bid button.If the seller can't or won't provide one, best to cough twice and pass.Incidentally, some of these coins have made it to the grading companies, only to come back bodybagged as counterfeit. In the hands of an expert,fakes can be spotted in mere seconds.

Bottom line? While everyone likes a bargain, common sense and good judgement should prevail. A genuine high grade key date coin will always bring a decent dollar and a willing buyer..if it sounds too good to be true, it probably is. Greed loves a sucker. Buying from  a reputable and knowledgable dealer is your best bet if you're after such coins.If you're serious about chasing down such pieces, most dealers will take the time to discuss the matter and offer advice.While you may have to pay more, you can also rest easier knowing that most dealers will gladly buy back that same coin later on.

Later,

Brad