Poll Question: Have you ever been scammed buying a coin online? What happened?

What bothers me is coins offered online from what seem like reputable dealers, and nowhere in their ad indicates they are from China or reproductions, or just plain fakes, until you actually place the order. Yes, it’s true that if it sounds too good to be true, then buyer beware. Now it seems the latest scams include PCGS capsules that look very real but contain a fake coin. Although I was aware of this, I still took a chance for a low-cost CC Morgan dollar encapsulated from China. Sure enough, it turned out to be a fake coin, and even one of the letters on the coin was not fully formed. It did not cost me much $, and so it is an interesting keepsake of sorts.

Mike Gobeille, Address withheld

One morning, someone offered some tokens for free, saying their spouse had passed and they really were not interested in them. I responded, saying that I would cover the postage if they were serious about getting rid of them. The OP said they didn’t have the type of knowledge of technology to receive payment, but a nephew would help facilitate the transaction. After sending the funds, the OP disappeared, not responding, and I never heard another word from them. It wasn’t a lot of money, but it just goes to the old saying, “If it sounds too good to be true, then it is.”

Name and Address withheld

A little over a year ago, I answered an ad from Goldbrecht Coin (not sure of spelling) for an AU trade dollar. I paid $500 plus $25 for shipping and handling. When it came, it really looked "strange".  I called, and they said they have excellent quality control and assured me it was a genuine coin.

I submitted it to PCGS, and it came back in a body bag with an "Obvious Chinese Fake" note.  I called the vendor, and they said they would refund my money.

They finally did, the $500 I paid for the "coin".  When I complained, they said it is not their policy to refund any other expenses like shipping and handling. 

With all the shipping and insurance expenses, I was out about $100 by the time I got done.

I have since been told many stories from dealers about their practices. That was my first and last purchase from that vendor.

Leroy Vargas, Massachusetts

I've never been scammed because, other than from the mint, I would never buy a coin that I did not first view in person. Unlike the present young generation, I don't feel I have to do everything over my phone and off the internet. And, after this semiquincentennial year, I will no longer buy from the grossly overpriced U. S. Mint unless they reduce their prices. The optimist in me hopes they have jacked their prices for this year only and will greatly limit the amount of coins sold in order to help them keep their value in years to come. But the realist in me doubts this is the case.

Larry, Louisville

Bought commemorative silver coins and CC silver dollars that turned out to be counterfeit.

Name and Address withheld

I have never bought a coin online; however, I was scammed by my local coin store back in 1989. Coinways of Cedarhurst, N.Y.

Their numismatist dealer sold me a 1916-D mercury dime in VG condition, unslabbed. Years later, I moved to Denver, sent in the coin for grading, and it came back as counterfeit.

Since then, I have pretty much stopped collecting coins. Don’t like all the counterfeit stuff and what comes with it.

Name and Address withheld

Nope. I quit buying online years ago because of the amount of fakes entering the market from Temu, Ali Baba/Express, and especially Etsy.

Tim Stroud via Facebook