Recently, I realized the extent some scammers go to make some quick, dirty money. It shocked me.
The story is, I collect coins and have since I was a kid. I was always disappointed with the lack of numismatic items being available for sale in bitcoins, it was always bullion instead. So, I made a website:
http://www.bitcoinnumismatics.com/ and here is a link to the specific thread I'm talking about:
http://www.bitcoinnumismatists.com/forum.html#/20130503/pcgs-1889-cc-silver-morgan-dollar-au50-2590749/One guy posted a listing on there for a graded coin ("Graded" means it was given a ranking based on its condition. There are two prestigious grading companies-NGC and PCGS). It was an AU 50, PCGS graded 1889 Carson City Morgan Dollar. This coin is referred to as "The Monster Silver Dollar". I was impressed the guy had it, and I asked what else he had in his collection (if you own a $7,000 coin you're probably a collector and own some more). He said he had no other coins. I found that rather suspicious. I looked closer at the picture he posted...I have several PCGS graded coins, and something about his didn't look right. I got one of my PCGS slabs and compared it to his picture. The difference was clear as day. The most obvious sign that it was a fake is the spacing between characters and words. On a real PCGS slab, the letters/numbers are very close together. On his fake one, they are further apart. Do an image search and you will see what I mean.
Of course I know, and most people probably do too, that China is flooding the market with all kinds of fake silver and gold bullion, and even some coins. I had HEARD that there was a such thing as fake graded coins, but never seen one-even online. But, after determining his was a fake, I found this listing on this website:
http://www.aliexpress.com/item/PCGS-AU50-1889-CC-Morgan-coin/666985659.html That is the exact thing he bought. $150 may seem like a lot, but when the real thing is worth $7,000, it isn't.
I suppose this is just another warning to watch out for scammers. They don't all work in the same way. But they are ALWAYS after the same thing-your money.
