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How to Avoid Buying Fake Gold Coins

How to Avoid Buying Fake Gold Coins

by admin on July 30, 2012

Fake gold coins sold on eBay can be a problem. One has only pictures of the coins for sale and, unless one is an expert, it is difficult to establish the authenticity of the coin being sold. There are some guiding principles here one can follow to reduce the chances of buying a fake gold coin on ebay.

  • ¬†Buy only from a power seller.
  • Check the feedback of the seller.
  • Check to ensure the seller does not change the category of the item the day before the sale ends. (This is a favorite trick to stymie coin dealers who can tell if the coin is fake. Also prevents eBay from acting upon complaints)
  • Ensure the seller is contactable and you can and should ask a question to see if they respond and what their response is.
  • Is there a return policy?
  • Any guarantee of authenticity?

Check the online coin discussion groups. Usually there are warnings or discussion regarding the coins for sale and which are fake and which are not.

These are very important points and it would be wise not to ignore them.

Some people actually collect fake and counterfeit coins. Some counterfeit coins have a particular history or educational value. These are usually called ‘black cabinet’ or ‘black museum’ collections. Again, these coins are for the specialist.

Despite the above, the incidence of fake or counterfeit gold coins is not large. Provided one takes sensible precautions one can usually safely purchase one’s favorite gold coins from a reputable dealer either online or from the shop in the high street.

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