Hi all, Well it has finally happened to me. I found this sovereign for sale on eBay. It had a starting price of $100 and no bids. With only an hour os so to go I had a good look at the ad. What I saw was that the ad was named poorly, like the seller did not know what the coin really was. It took a bit of research to find out that it was a sovereign and not a 1/2 sov or even a crown as the photo was a bit blurry and the colour seemed odd. Another clue was that the seller has 0 feedback. On the plus side, the seller was located in Australia. Anyway, figuring I had buyer protection and stuff I but a bid in. After all, it was like gambling. Place a $100 bet and maybe, just maybe you get a win from some person who does not know what they are selling. Well after about 10 days of hand holding, emails and mobile phone calls (the guy seemed to be genuinely unaware of how eBay works or even Paypal) the coin arrives. Immediately it seem a bit wrong. It smelled metallic and frankly brassy. I got out my somewhat inaccurate eBay scales and plonked the coin on: Source: Me Hmmm that didn't seem right. I decided that maybe the eBay scales where a bit wonky. I went and got a real sovereign I already owned to compare.: Well now. That is clear. Here they are side by side: Anyways, the coin is now on its way back to the seller and the eBay claim is in. Now I have to wait for a week or so to see if eBay deems it fit to refund me. Fun and games. I have to say, that the wins I have had on eBay have been good. I got a very nice 1888 Double florin for $39 posted the other day. I have have some great Victorian crowns for under $40 too. I can't complain really, but I thought I would share the story. Oh and tips for identifying shoddy coins without equipment? 1. The ad has clues. IE too good to be true. Eg: a. has 50 of the same rare coin for sale b. at less than half the normal price c. The seller has little or no feedback d. The pictures are unnecessarily fuzzy and the seller won't give you proper ones e. The coin is being sold from a country that seems odd or unlikely for that coin f. Local sellers who won't accept collection of the coin g. Too much glitz in the ad, though some legit sellers are glitzy and more... 2. Touch - the coin does not seem to weigh how you would expect. 3. Smell - smells like copper or brass or is fragrant or sweet smelling 4. Sight - the colour or aging on the coin is the same for all coins being sold from the same seller. The colour is not the same as you would expect from experience. 5. Sound - when you gently rap the coin against a solid surface (LIKE TIMBER) it does not sound right. Both gold and silver have a distinctive sound. CuNi is rather dulled in comparison. 6. taste - yeah don't stick it in your mouth...you don't know where it has been!
Sure will. So far I am giving the seller the benefit of the doubt. He claims he didn't know and that it came from a dead relatives effects. But in the end it might just be made up.
Can anyone advise on what the law is pertaining to this? Are you lumped with the loss once a counterfeit is declared? (e.g. Look Mr Bank i got a counterfeit $50 would you replace it and send it back to the Mint?) In Thailand, it is illegal to hold counterfeit currency, and if you take a dodgy note to the bank you can get arrested for it. Your only option is to destroy it if you get fooled into accepting one. Is it the same in Australia? Also being 'fake currency' how would any compensation work? Spot price?
sovereign was currency once but didnt think it is still. thought the law would apply to current currency only
No compensation in Australia for fake currency - you are obliged to surrender it to local or federal police. AFP Currency team is based in Melbourne. Reclaiming your funds becomes a civil matter I guess. Ran into a bar in Melbourne about 6 years ago where I suspect one of the bartenders was trying to pass off fake $10 notes in change to people that looked inebriated (and I'm not even a cheap drunk!). Confronted him over it and it went straight back into the till and was replaced with a "good" one. Never thought to take it further at the time.
I reckon it could be a win for the seller... $100, thank you and goodbye. And who knows, maybe another zero feedback account for the next one?
Lucky for me thst paypal won't hand over the money until 21 days has past. Also, while there is a dispute in progress they hold the money too.
the good thing for you is that the seller is in the same country as you are which gives the added protection of getting the police involved. I don't hold much faith in Paypal or Ebay but your credit card company can be of assistance as will the police.