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.
PCGS recommends consumers consider the following any time they make a coin purchase:
- Verify the certificate number using the PCGS Cert Verification program at http://www.pcgs.com/cert/
See limitations above - Avoid purchasing rare coins from eBay sellers in China.
- Investigate the legitimacy of the seller (examine feedback; avoid low feedback sellers; find out how long the seller has been in business; do they have a good reputation?; do you have legal recourse in case of a problem?).
- Make sure you have a money-back guarantee that is enforceable (for example, credit card companies will often assist in cases of fraud).
- Realize that "bargains" in numismatics are usually too good to be true.
- If you have a question about a particular coin, be sure to have it checked out by an Authorized PCGS Dealer or by PCGS before the expiration of any guarantees.
- Request an immediate refund if the coin you purchased turns out to be a counterfeit.
The following list of coins and certificate numbers have been seen in fake PCGS holders:
China (1916) Silver Dollar, Y-332, Cert #10712316 (valid)
China (1923) Silver Dollar, K-677, Cert #11354470 (valid)
China (1923) Silver Dollar, K-678, Cert #11285683 (valid)
China (1923) Silver Dollar, Y-336.1, Cert #13835186 (valid)
China Republic (1912) 20 Cents, Cert #21981173 (invalid)
China (1916) Gold Dollar, Pn-44, Cert # 11072163 (invalid)
China (1923) Gold Dollar, Tsao Kun, K-677, Cert #11354470 (invalid spec, valid cert…used above)
US 1858-O Half Dollar, Cert #03884338 (valid)
US 1800 Silver Dollar, Cert #03859118 (valid)
US 1795 Silver Dollar, Off-Center Bust, Cert #22030856 (valid)
Mexico 1761-MoMM 8 Reales, Cert #05763936 (valid)
"Valid" means that the correct information shows up under Cert Verification
To alert PCGS to any offerings of counterfeit PCGS holders, please notifyPCGS Customer Service at [emailprotected].
FAQs
All PCGS holders are formed using a specially engineered plastic that contains an inert additive. This additive is detectable only by a hand-held reader developed exclusively for PCGS. These readers have been provided to select PCGS Authorized Dealers to aid counterfeit detection in the marketplace.
Can coins be counterfeited responses? ›
Imitation coins can be used as a form of untraceable currency in illegal transactions. Criminal organisations wishing to avoid a money trail may use fake coins to fund their activities and avoid detection from authorities.
Has anyone ever made counterfeit coins? ›
People have been making counterfeit coins for as long as real ones have been used. My research has been to try to establish and perfect non-destructive methods to discern between counterfeit coins and genuine ones. There are many ways to counterfeit coins, and some methods are much better than others.
Are there fake PCGS coins? ›
While counterfeit detection obviously is important, such excellent information has been published in the recent past that the number of counterfeits being submitted to PCGS is minuscule. In fact, PCGS encounters only about 25 counterfeits per 10,000 coins, or an average rate of one quarter of 1 percent (0.25 percent).
Can PCGS be trusted? ›
Professional Coin Grading Service (PCGS) is the most respected name in third-party coin certification. By establishing a universal grading standard, PCGS has paved the way for coin enthusiasts to enjoy buying and selling coins with confidence.
How to find a fake coin from 8 coins if 7 of them weigh the same and the fake coin is lighter than the genuine coins using a old school balance? ›
divide the coins into 3 groups of 3 : 3 : 2, then weigh the first two groups(with 3 coins) if balanced then the fake is in the group with 2 coins. if not balanced then the fake is in the lighter group with 3 coins. SECOND WEIGHING: IF BALANCED: weigh each coin of the group with 2 coins and get the lighter coin(fake).
What is the answer to the 12 coin problem? ›
On the second weighing of 1,2,5 v 3,4,6, if 1,2,5 goes down again, then either 1 or 2 is the counterfeit and it is heavy OR 6 is the counterfeit and it is light. So, if on the third weighing 1v2 is equal, then 6 is the counterfeit and it is light. This is now the complete answer to the 12 coin problem.
What is the 12 coin problem? ›
12 coin problem. The problem is as follows: Given 12 coins, one of which is counterfeit, use a balance to determine the counterfeit in three weighings, where the counterfeit coin may be either lighter or heavier than the other coins.
Does hairspray work on fake money? ›
When iodine is applied to the unique blend used by genuine US cash, there is no discoloration due to the lack of starch. However, the same effect can be accomplished by using hairspray on commonly used papers since it will create an invisible barrier between the starch and iodine from the pen.
How do you tell if a coin is a replica? ›
Coin authenticity verification
- The color. Color is a unique characteristic of each coin. ...
- Brightness. This is obtained during minting and like color is a characteristic of each alloy.
- Smoothness. Parts of the coin that are not engraved should be smooth, even and without porosity.
- Wear and tear. ...
- Latent image. ...
- Microtext.
NGC Ancients will only grade coins that it believes to be genuine. If, after evaluation and research by our staff experts and/or outside consultants, the coin's authenticity cannot be ascertained, the coin will be labeled "Authenticity Unverifiable" and not encapsulated. The full grading fee will apply.
Which US coin is currently illegal to own? ›
Currently, with the exception of the one sold on July 30, 2002, 1933 double eagle coins cannot be the legal possession of any member of the public, as they were never issued and hence remain the property of the United States government.
Is it legal to own a counterfeit coin? ›
These laws make it a crime to: Hold, pass, publish, sell, or attempt, any counterfeit currency with the intent to defraud. Make, forge, or pass counterfeit foreign currency with the intent to defraud. Buy, transfer, receive, or deliver counterfeit currency with intent that it be passed off as a genuine currency.
How do you know if you have a fake coin? ›
Coin authenticity verification
- The color. Color is a unique characteristic of each coin. ...
- Brightness. This is obtained during minting and like color is a characteristic of each alloy.
- Smoothness. Parts of the coin that are not engraved should be smooth, even and without porosity.
- Wear and tear. ...
- Latent image. ...
- Microtext.
NGC uses X-ray fluorescence spectroscopy, an extensive research catalog and other tools to determine a coin's authenticity. If deemed not genuine, the coin is not encapsulated. NGC offers numerous educational resources to help collectors and dealers avoid counterfeit or altered coins.
How can I authenticate my coins? ›
You can get your coins professionally graded by a third-party grading service. There are several reputable grading services that specialize in authenticating and grading coins based on their condition and rarity. Some of the most well-known grading services include: Professional Coin Grading Service (PCGS)
How can I verify my coin? ›
Verifying a PCGS Graded Coin
To verify a coin's PCGS grade and certification, visit the PCGS website and navigate to “Verify.” Enter the certification number, which is the 7- or 8-digit number after the slash in the certification number in the field onscreen.
