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madfranks
30th June 2011, 12:29 PM
I have no sympathy for the pawn shop owner who didn't even care enough to look at the coins to determine they were steel before handing out over $1000 for them. Steel and silver are so utterly distinct from one another I can't figure out how they didn't figure this out at first. Just the cling of the coin would be enough.

Link Here (http://www.gadsdentimes.com/article/20110628/NEWS/110629715/1084/NEWS?Title=Man-passes-counterfeit-coins-at-local-pawn-shop&tc=ar)

179


By Lisa Rogers (lisa.rogers@gadsdentimes.com)
Times Staff Writer

Published: Tuesday, June 28, 2011 at 5:58 p.m.

Last Modified: Tuesday, June 28, 2011 at 5:59 p.m.


Police are looking for information about a man who sold 40 fake silver dollars to a pawn shop on Friday, Gadsden Police Capt. Regina May said.

The owner of Mal’s Pawn Shop on Broad Street bought the coins, which were sealed in a coin display book, for $1,120, May said. After the man who sold the coins left the store, the coins were more closely inspected and were determined to be steel, May said.
“They are counterfeit and look very authentic,” she said.
May said the man attempted to sell gold coins to another pawn shop earlier in the day, but was unsuccessful.
The man who sold the coins provided a New Jersey driver’s license, according to May, that apparently turned out to be fraudulent. He spoke with an accent not from the South.
May said the man is black, about 5 feet 11 inches or 6 feet tall.
He is heavy-set and wears glasses, and is believed to have been driving an older-model white Cadillac.
May said other merchants should be on guard against a similar scam.
Anyone who has information about the man is asked to call Gadsden Police detective John Hallman, 256-549-4645.

madfranks
30th June 2011, 12:37 PM
I guarantee you, this is what the scammer bought, or something just like it:

http://cgi.ebay.com/Replica-96-Set-Morgan-Dollars-Different-dates1878-1921-/250844722740?pt=Coins_US_Individual&hash=item3a6782b634

I also guarantee you that the coins don't have "replica" or "copy" stamped on them like the guy describes in the auction. I hate that it's this easy to buy faked coins from China.

StreetsOfGold
30th June 2011, 01:03 PM
May said the man is black, about 5 feet 11 inches or 6 feet tall.
He is heavy-set and wears glasses, and is believed to have been driving an older-model white Cadillac.

(In my best chinese accent)
ahhhhhhh so

Dogman
30th June 2011, 01:17 PM
May said the man is black, about 5 feet 11 inches or 6 feet tall.
He is heavy-set and wears glasses, and is believed to have been driving an older-model white Cadillac.

(In my best chinese accent)
ahhhhhhh so

Yea

But where did the "Black man" buy his coins from , or better yet , where where the coins made? He was just the end user.

palani
30th June 2011, 03:09 PM
I've heard of passing stones ... but never passing counterfeit coins!!!

Joe King
5th July 2011, 04:36 PM
I've heard of passing stones ... but never passing counterfeit coins!!!

What about counterfeit silver rounds?

Reading this thread reminds me of an experience I had earlier this year with a local dealer who sold me a fake silver round. After I got home I figured out that it wasn't really silver and took it back. The dealer was real good about it and made it right by swapping it for a different one that we both agreed was real.

The fake was the right size, but when I weighed it, it was off by a couple grams. Here's a pic of the real one that I had actually wanted. (http://cgi.ebay.com/1-Troy-oz-999-LARGEMOUTH-BASS-Silver-Round-FISH-CAMEO-/310317716040)


Oh, and btw, hi again everyone. http://glcoti.com/images/smilies/waving_smiley.gif

Son-of-Liberty
13th July 2011, 09:03 AM
These fakes seem to be going around now that silver is at a decent price. I got burned at a local auction earlier this year on a few fake rounds that were similar. If you aren't paying real close attention they look real enough but don't feel quite right and when weighed are obviously not silver. Whoever is making them even makes an effort to make them look worn and tarnished.

Although I m surprised a dealer would fall for it as they deal with this sort of thing every day.

beefsteak
13th July 2011, 09:25 AM
Color me "not surprised" the pawnshop dealer got taken. Greed doesn't care if you are the buyer or the seller. It just is.

Joe King
13th July 2011, 11:17 AM
These fakes seem to be going around now that silver is at a decent price. I got burned at a local auction earlier this year on a few fake rounds that were similar. If you aren't paying real close attention they look real enough but don't feel quite right and when weighed are obviously not silver. Whoever is making them even makes an effort to make them look worn and tarnished.

Although I m surprised a dealer would fall for it as they deal with this sort of thing every day.
Yea, I was surprised too. He told me he had gotten it with a group of about a dozen rounds and admitted to not having done his due diligence by not having checked all of them. As I said, he made it good for me. Swaped it for a real round and gave me a 1952 proof dime for my trouble.