Do NOT, I repeat...DO NOT buy gulo gulos from eBay.

Big dealers like APMEX and the like are usually good places to buy from. They have a LOT to lose if they sell fake coins. So, I believe anyone who buys from a big dealer should be fine.

But please note that when you buy from a big dealer such as APMEX or others that are in the business of selling graded coins, well you have to know that what they sell is already cherry picked, meaning the probabilities of getting a PF70 grade on a coin bought from them is really 0%

Powercoin and the others do not sell graded coins, so you are likely to still have a chance at acquiring a "perfect" coin that would grade PF70 if you decide to grade it.

eBay is really a crap shot, the copies from the Chinese sellers are very good. When you look at auctions in eBay they only show the front and back of the coin, usually not closeups. Once you buy it and its in your possession you find that the edge of the coin is thicker, and the specific gravity (if you know how to measure it) does not match silver.

I went to eBay right now and saw a seller with a Gulo Gulo and guess what? They have one of MY coin pictures as the front page image of their auction. I can't believe these sellers! SO whoever buys the coin might think they are getting exactly the coin in the picture (MY COIN) but in reality they might get a worst/scratched coin. I guess thats how they roll.
 
JoeFromNorthCarolina said:
If apmex has them, Buy them from apmex as well. I wasn't aware apmex sold those.. :)
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they did. for 1999. LOL

why anyone would pay at that price is beyond me at this point
 
Well what did you expect. Price of these coins are unreal and its good chance that somebody will soon or later start faking it. Its nonsense to fake coins which sell for 100$, because it's risky. You can sell few of those, get the money, and "survive" pretty well.

My friend lost quite a lot of money on eBay when buying some microphones. Soon after he won/pay the eBay (or some eBayers) reported auction as fake. He actually got the microphones from China but none of 4 didn't work. The same as one from Italy.

There are few general tips on buying on eBay/similar sites. You can't do much about some but you can't do much against nature so (this can be applied to general buying process):
1. Never buy the cheapest things. If price is very lower than there aren't many reasons: a) seller desperately needs money fast b) things are fake c) you are too paranoid :)
2. Be very very cautious when buying from seller with low rating. Always check its rating carefully. It received most of its feedback from buyers or sellers? Is number of different buyers feedback big or not.
3. Be patient. If seller has low rating better wait (applies to buy it now auctions). More people buy from seller, more chance that someone will find fake coin.
4. My friend bought mics from American seller but his account was "hacked" so the items were send from China! By having same username and password, too short password, by not caring for computer security, not doing computer updates, etc. you are not only putting in risk yourself (and your money) but also other eBayers (whethever you are buying)!
5.Maybe your seller was screwed with its seller and it doesn't know it is selling fakes! Keep in mind that all people don't/can't know (don't care) if they are selling fakes. Coin selling it's interesting business. You have in it as same as any business - long time veterans and beginners.
6. Don't be too greedy! When buying things reconsider if you really need them. Will your life be better? Are you prepared to take risk for getting fake item.
 
Ozboy said:
Can anyone tell me if it's a crime to bring these into Australia?
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If they are legal tender (even non circulating modern numismatic) then yes. "Reasonable excuse" can only be established in a court.
 
I would also add, check how the seller made first feedbacks on ebay.
Few months ago few chinese people started to sell cheap rubbish jewellery, like pendants or bracelets worth a couple of bucks, just to make first positive feedbacks and get authorized by ebay to sell international or high value item. So suddenly after that garbage that granted them 10-15 feedbacks they started selling Gulo Gulo's.
That should be one of the first things to check.
If I buy on ebay I prefer sellers with thousands of feedbacks that are in the coin business for years.
Alex.
 
alexbecks you must also look from the seller side. This is simply put in economic therms game theory. Seller wants to get the most from buyer. Buyer wants to pay as less as possible (e.g. to its limit). In ideal case both would be happy. But most often - seller don't get enough, buyer pays too much.
If you were started selling on eBay your first auctions probably won't be tiffany art. You will get much less for them as some respected seller. So you will put out things that will sell for sure and you will get rep.

But I agree, behavior you mentioned is common.

As I've stated accounts can get hacked. So be sure to put enough effort for your account security.
 
I got a response back from powercoin, and they showed me the difference between the fake and the real....side by side EASY to detect the difference. I don't know how to add the pictures, sorry.



































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Hello,

if you check the image attached, you can see how a genuine coin looks, compared to a fake one.

Not even the capsule is the same (Chinese fakes comes with a bigger capsule).

Then, there are some details, like the ".999" and ",999" (with comma, the fake) in the silver hallmark
 
barsenault said:
I got a response back from powercoin, and they showed me the difference between the fake and the real....side by side EASY to detect the difference. I don't know how to add the pictures, sorry.
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could you please add share the photos?

just insert links inside the "
" tag
 
To my untrained eye, both coins look similar enough that I would not suspect one was fake.

These fraudsters are getting better all the time at making imposter coins.

I have bought a number of coins from PowerCoin and I believe this is an honest dealer.
 
alright, i'm contemplating to buy a "hedgehog", and these are the photos a prospected seller has provided me:

afaiyh.jpg


wqq549.jpg


what would be your assessment about the authenticity of this piece?
 
Check your "prospective" seller with CIT. If he/she is an authorized CIT dealer there is no problem, for sure
 
Acme said:
Check your "prospective" seller with CIT. If he/she is an authorized CIT dealer there is no problem, for sure
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well, when i asked about that (the origin of the coin), in the reply he sounded offended, and told me i could buy the coin somewhere else...
 
But you asked seller. I thought that you are going to ask the distributor of the coin for a list of authorized distributors in your country or nearby. IMHO even if you asked seller he shouldn't sound/feel offended. It's not cheap coin and you only trying to cover your back (if something goes wrong).
 
Acme said:
But you asked seller. I thought that you are going to ask the distributor of the coin for a list of authorized distributors in your country or nearby. IMHO even if you asked seller he shouldn't sound/feel offended. It's not cheap coin and you only trying to cover your back (if something goes wrong).
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this is what i wrote him:


Hello

I apologize for so many questions, but having read many stories about people paying a lot of money and getting some "made in china" copy, I'm genuinely concerned.
So, it may look authentic on the photo (though resolution is quite low), but could you please tell me the source from where you got it in the first place?: I mean, like, are you an official/authorized dealer of the Coin Invest Trust (who produced it), or?

I hope you will forgive my scrutiny, but I just think that I have to ask before buying the coin.

Thank you
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