eBay counterfeit questions 0

[SirDubre]

Hi all. 
I recently started following a few folks on Instagram that are dealers and a constant theme is how much we should beware of eBay. Pretty much all my coins have been purchased through eBay. I look up the NGC cert and verify the pictures and won’t buy a coin that isn’t certified. That being said, in your alls experience, even with graded coins, do you find a lot of counterfeits? 
 

What else could I do to prevent buying counterfeit coins on eBay? 

[JKK]

Get to know your dealers.

There's an ancients dealer who comes to our coin show every year, named Faiz. I have a great time sitting down with him during the early bird time that is the fringe benefit of working the show. He has an excellent eye for authenticity and attribution, and his Arabic is much better than mine, so he's great on the Islamic world as well. I will probably buy a grand or more worth of stuff from him this November, but I was in a coin shopping mood yesterday and swung by his Ebay store. I bought three unslabbed ancient coins from him in complete confidence--because I know Faiz, I know his merch, and I know that if any of them somehow turned out bogus, he would stand right behind what he sells.

Another local dealer in ancients is a father/son team, the Faillas. I have not bought from them on Ebay, but I've talked to them at the show and they're solid and honest. I would buy unslabbed stuff from them online without hesitation.

I could name 4-5 US coin dealers of whom I could say the same as I've said about Faiz and the Faillas. I would buy from them because I know them.

[VKurtB]

I would stay away from ANY eBay dealer I don’t know personally with one conditional exception. If you are buying inexpensive fairly common material, your risk is greatly reduced. But if you are buying unusual material, everything is a red flag. If you’re buying internationally and it’s unusual material, you are literally asking to be taken. Fake slabs are a HUGE problem these days, much more than even 5 years ago. If it’s POSSIBLE to be a scam, it WILL BE a scam on eBay. 
 

But here’s the problem - Instagram is likely 10x worse. 

Edited September 9, 2022 by VKurtB

[“”]

I have bought and sold through Ebay for many years and have never personally had an issue when buying. I do have my own rules that I always adhere to in order to make sure everything is on the up and up as much as possible. I only buy and sell certified coins. I look at the feedback and am leery of anyone selling with a feedback rating of less than 98%. If less than 98% I specifically the negative and neutral feedback to see what issues were encountered. I also check if returns are allowed. I prefer a seller who offers returns, but that really is not a deal breaker. I do verify cert numbers through whatever TPG service certified the coin. Last but not least, I pay for everything through Paypal because of their guarantee.

Happy hunting and stay smart!

 

[Coinbuf]

Do your due diligence, always check the feedback score of a seller.   While this is not a foolproof step, because sellers can and do get negative feedback removed; it is a must do.  Always check the cert number of any coins here or on the PCGS website, this is a must do step as you are not only confirming the cert but can use any photos that are available to compare and verify if the coin looks legit.   Only buy if there is a solid return policy, avoid any seller that does not offer one.

Are there counterfeits in top TPG holders, yes but it is a very tiny percentage of the total coins that quality firms like NGC or PCGS slab.   Without seeing the statements you have read from those insta accounts, it sounds like a sales pitch/hyperbole to trash ebay and boost their sales on insta.   Now if they are addressing raw coins on ebay, then yes there are a lot of counterfeit and altered coins that are offered on ebay, however there are just as many on the social media sites like insta or fakebook as well.

[EagleRJO]

On 9/8/2022 at 10:01 PM, SirDubre said:

What else could I do to prevent buying counterfeit coins on eBay? 

Know the coins you are buying, look at them carefully regardless of a label with an experts' opinion, and as others have said stick with reputable sellers with a no questions return policy. I tend to be very cautious with any coin being considered as I buy mostly raw ones which you have to be very careful with, and that has pretty much carried over to any slabbed coins I buy also. TPG slabs can be counterfeits too, although the risk is mostly with more expensive coins.

[The Neophyte Numismatist]

Many of the top dealers in the country are selling on eBay.  I agree with the others, it is important to vet the dealer and the coin.  Raw coins are always too risky for me online, so I buy graded.  That said, I have seen counterfeit coins in holders, real (lower grade) coins in fake (higher grade) holders.  

Dealers with lots of inventory and lots of feedback (actually read the feedback and look that it comes from different customers) make me more comfortable buying.  But I agree with you in scanning all of the coins and matching pictures where possible is critical.  A return policy is also a must for me.  Even when the coin is real, pictures can hide defects.  Pictures with lighting at multiple angles are a big plus for me for this reason.

Personally, I would stay away from Etsy/Facebook/Instagram.  If you see a coin from a large dealer on eBay or a social media site... try to look up the coin on their actual dealer site (smaller dealers may not have a site or inventory online).  This will help you to validate that the dealer is who they say they are, and you will get a better deal going direct to the dealer (almost 100% of the time) over eBay or anything where the dealer has to spend more to market the coin.

Edited September 9, 2022 by The Neophyte Numismatist