If you buy any coins online, especially from eBay, you’ll want to listen closely.
Not to scare you, but the biggest marketplace in the world for coin fraud is eBay.
And I’ve seen it firsthand.
Chinese Gold and Silver Pandas, Bust Dollars, and several Rare U.S. coins are commonly faked.
Over 90% of counterfeit coin sellers are from Asia…China, Hong Kong, Korea, and Singapore are among the worst. (Though they can be anywhere)
Another issue is that eBay and PayPal offer minimal, if any, protection after you buy a fake
Usually, by the time you figure out your coins are counterfeit, the seller has disappeared and his PayPal account has been closed.
Protect yourself against online coin fraud
- Don’t buy any coins from any Asian sellers online
- Pictures don’t tell the whole picture, because you can’t judge the actual quality, and you may get a different coin than what’s in the picture. Even PCGS slabs can be faked
- Don’t fall for stories the seller may tell you
- If you do buy a coin online, always use a credit card, and not the one tied to your PayPal account
- Even though this is common sense… Buy only from sellers you know and trust, or who are recommended by reputable sources
- If the price sounds too good to be true – it is
- Again… use common sense when buying any coin online
For more info about counterfeit coins, check out:
Call us of visit our showroom with your needs or
questions… BEFORE you buy a fake coin online
Seacoast Coin & Jewelry
725 Lafayette Road
Hampton, NH 03842
Hours: Monday-Friday 9 to 5