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Inside a Chinese Coin Counterfeiting Ring


Paul

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Posted

https://www.thespruce.com/chinese-coin-counterfeiting-ring-4071202

The photos in this gallery were taken inside a Chinese coin counterfeiting operation.

This counterfeiting ring is suspected of putting thousands of fake coins onto the world and U.S. coin markets every month.

These striking photos first emerged on certain Web-based coin discussion boards in Europe and the Far East.

They came to my attention through a numismatic watchdog/satire blog called Biddle's Bank.

These are the same coins which are being put into counterfeit PCGS and NGC coin holders, although they are most frequently sold raw (non-slabbed.)

The sheer size, scope, and professionalism of this counterfeiting ring will astonish you.

Although the working conditions often appear dirty and the minting equipment is old, this is obviously a well-funded enterprise that is run like a legal business in China.

There is no law in China against making these "replicas" as long as they are sold as such.

(Remember to keep expanding the (Read More+) tabs to read the full article in its entirety it is a good lengthy read)

Posted

Very interesting, thanks for posting, but... :o

The scale of the operations is absolutely staggering, as is the apparant quality of some of the fakes.

It might be worth having a few kgs of these coins as a 'distraction stash' for some, the ethics of encouraging such production are a little tricky for me though...

At least my silver Brits have that extra layer of authenticity to the naked eye, I should imagine it's impossible to mimic such milk-spotting without the unique Royal Mint manufacturing process and materials :)

Posted
19 minutes ago, kimchi said:

At least my silver Brits have that extra layer of authenticity to the naked eye, I should imagine it's impossible to mimic such milk-spotting without the unique Royal Mint manufacturing process and materials

if the RCM crap ever became valuable, they'd soon ind a way to mimic the milk

Profile picture with thanks to Carl Vernon

Posted
14 minutes ago, sovereignsteve said:

if the RCM crap ever became valuable, they'd soon ind a way to mimic the milk

Thanks a lot buddy, there's me feeling slightly better about thousands of pounds of milked Brits, and along you come...:(

 

 

:P

Posted
11 minutes ago, kimchi said:

Thanks a lot buddy, there's me feeling slightly better about thousands of pounds of milked Brits, and along you come...:(

 

 

:P

i'm assuming yours are real so you've nothing to worry about, they'll always be worth spot or thereabouts:unsure:

Profile picture with thanks to Carl Vernon

Posted
2 hours ago, sovereignsteve said:

i'm assuming yours are real so you've nothing to worry about, they'll always be worth spot or thereabouts:unsure:

Yes they're real, came scratched and dinged and almost all milked within a month or two. BullionByPost's finest 'Grade A new' Brits. I even paid VAT for the pleasure of such great service on a quality product :o

Tbh I was royally (oops, pun, soz) 'annoyed' for quite some months. But then UKBullion had a deal on with a free Brit 'worth £28!' so by my calculation I'm already quids in :(

Posted

On a more serious note, the fact that the Chinese Government make it legal to make copies will have to change going if they wish to be taken seriously going forward.....at some point, they will have to make the transition from nicking the west’s economy to actually making their own s@*t that people around the world actually trust. Right now, they are a gazillion miles away from that, big time.

Posted
13 minutes ago, Oldun said:

On a more serious note, the fact that the Chinese Government make it legal to make copies will have to change going if they wish to be taken seriously going forward.....at some point, they will have to make the transition from nicking the west’s economy to actually making their own s@*t that people around the world actually trust. Right now, they are a gazillion miles away from that, big time.

Even more seriously, once they have enough of the PMs cornered, will they even need to? It might even be in their best interests to flood the West with crud!

Posted

well i always knew slabbed coins were/are a waste of time, who now can trust you are getting a real coin in that plastic container?  

Seriously though the size of the operation is worrying.    

Posted

And even more reason to become more personally knowledgeable about PMs....numismatic or bullion...stop being lazy ;)

Posted
30 minutes ago, Xander said:

I take it then the slabbers don't check to see if the coin is real or fake before slabbing?

I think they fake the slabs too Xander and use real serial numbers from legitimate slabbed coins. That’s why I wouldn’t put photos of slabbed coins on eBay because the serial number knee will get copied 1,000 Times.

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

Posted
16 minutes ago, MancunianStacker said:

I think they fake the slabs too Xander and use real serial numbers from legitimate slabbed coins. That’s why I wouldn’t put photos of slabbed coins on eBay because the serial number knee will get copied 1,000 Times.

Thanks. I was wondering why some photos of slabbed coins on eBay only showed the coin. I have a slabbed panda for sale on eBay, too late to change now. It certainly is a concern.

Posted

Just received an email from NGC about their new resource section on counterfeits.

Quote

NGC has launched a comprehensive Counterfeit Detection resource at NGCcoin.com/counterfeits.

This valuable resource provides detailed analysis and high-resolution images to help collectors and dealers identify counterfeit and altered coins. It contains information and insights from NGC’s expert team of graders, which has identified more than 100,000 counterfeit and altered coins since 1987. Rick Montgomery, NGC president, finalizer and one of the world’s foremost coin authenticators, serves as editor.

NGC’s Counterfeit Detection portal will be continually updated with new discoveries, more high-resolution images and additional information.

 

Posted
43 minutes ago, MancunianStacker said:

I think they fake the slabs too Xander and use real serial numbers from legitimate slabbed coins. That’s why I wouldn’t put photos of slabbed coins on eBay because the serial number knee will get copied 1,000 Times.

Usually when you scan or insert the serial number for a coin that’s been “duplicated” the grading app warns you that it may have been faked. This saved me from buying a fake Eagle in a fake NGC case on eBay a few years back. Scarily I bought it from a dealer and they bought it from a member of the public. They thought it was real because it was in an NGC slab. Simply scanning it would have saved me the trouble whilst in the shop. 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

Posted
11 hours ago, fehk2001 said:

fake coins are just ( normal ) if you look at this 

 

So that's what you look like:P

Seriously though, fake eggs that take all that time to make for a few cents profit! Is there something wrong with these people?

Profile picture with thanks to Carl Vernon

Posted
7 hours ago, sovereignsteve said:

So that's what you look like:P

Seriously though, fake eggs that take all that time to make for a few cents profit! Is there something wrong with these people?

they do mass production and very very fast for the fake eggs and yes it worth it . there are more than 1.6 billion mainland if everyone give u a cents u are loaded 

and no that's not what I look like I am 75 years old now :D

MY TOTAL FORUM TRADE FEEDBACK IS 100 AND IT IS 100%

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