FAKE COIN DISASTER: I Spent $8,800 On A NYC Coin Collection... And May Have Gotten BURNED
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- Опубликовано: 10 янв 2024
- This was one of the largest collections I purchased recently, spending exactly $8,800 to buy it (and of course some money for transportation on the subway and to get into New York). However, I also likely made my worst single-coin buy ever, as one of the coins tested as good on my Sigma Precious Metals Verifier and I ignored the fact that the surfaces and strike seemed off... still have to figure out how that one will end up. If I lose the $960 on that item, I will probably be down $400-$600 across the full batch after all is said and done. Regardless, I think there are some interesting lessons we can take away from this group, and hopefully inform a lot of the buying that I do going forward!
#fakecoins #goldbuyer #coincollecting
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Lesson… test everything. However the Sygma is way out of my price range. Use a coin pinger though. Awesome video as always
Thanks for sharing! Ethics are on point!
Well, you can only do so much when you make a purchase. I guess that if you are questioning the appearance, maybe need to just reject something, or dig deeper like you were able to do after you got home. There are so many fakes out there, and people don't even know if they have one. Like you said, these people weren't trying to scam you, they probably had no clue. Thanks for bringing us along, it is interesting for sure to see these kinds of collection purchases. Stay well
Looking forward to the follow up on the gold! Love the risk vs reward
Looks like a good purchase outside of that one gold coin. Hopefully it turns out it is gold at least. And don’t feel bad for making money. You have to buy lower than you sell. As long as you’re not trying to rip people off you are doing good. I like to try to pay a little more than what a coin shop would pay for silver and such. Then I try to match what the going price is for it when I do sell.
Excited to see what you found.
The weight that you enter into your Sigma is important. You enter the weight and it measures and gives you the diameter and thickness the coin is supposed to be. If you put the fakes weight in, does the diameters and thickness on the sigma match the coin?
New York New York,so good they named it twice 😮
Like cous cous 😂
Prob just a gold replica or counterfeit.. we’ve gotten those in our store plenty and just send them to the refinery.
New York New York!
Those sigmas only penetrate a small layer of the coin and could be plated. Hope its solid gold for you. Interested to see the results on your next video and more travel buys. Makes me double think on public buys. Thanks Christian
Depending on the coin, you can also use the small wand and get a deeper reading.
Enjoyed the video. Sorry this happened to you.
Sweet buy Christian.
That sigma had a dimensions test on it. With the weight you check the thickness and diameter.
Thanks for the video. Between melt value on the 'bad' piece and then pricing most of the other items at retail or nearly so, maybe you'll come out O.K.(?) There were a couple of quite nice coins in the lot too. Holding the gold for 5-6 mos. to see how it's price shakes out may also increase your + return margin.
Will treasure town be at the Ny coin show this week?
Oh... But very nice silver coins... And I gave the 10th like... The fake gold... Not good. I watch your videos since a year ago. And slowly I'll make a RUclips channel about coins and banknotes. You gave the idea for the unboxings... I'm excited when I watch your unboxing videos, they're my favourite. I love this channel.
I would do the ping test I feel like using your ears for vibration verification or density test I know there are density testers that are as much as a sigma or more in fact. A pocket finger is super cheap and it can fit in your pocket should I make a video on each coin to make your money back pause when you go into these deals if you're dealing with a big sidearm? That's if your state can open carry that is. Even if you're never going to attend to use it. Impressions are powerful ! Might think twice for getting over on you unless the sellers didn't know?
Big like number 263! Excellent video and thank you so much for sharing!
I would not have known that was a fake gold coin ... thanks for educating us.
a lot of fake pre-33 gold were also made of genuine 22k gold, so there's still hope you might get the majority of your money back.
I,,!!!! Have lost much, much more than that brother.. it's only money.. a lesson learned.✌️💙🏇🏇🏇
If you got the Sigma pro mini it will read all the way through. It’s a $1700 machine. If you got the standard Sigma that runs $900 with only the wands, it only reads the surface and not very deep. Oh never mind! You got the best one.
What coin shop did you go to between the begining and the end of the video
Cool intro!
I bought some fake gold once a few years ago. I lost a few hundred for a piece I thought was worth 1500. It sucked but I rolled with the punch. Coulda taken a bigger hit. I might have paid more on a better day😂 Don’t let it get you down.
You've got to melt it down and test it
Hey Christian, I’m very much a novice when it comes to coin collecting but I did enjoy this video as I do all your videos.
I live in LA, more specifically, Glendale.
I have recently inherited a smell coin collection and I’m having trouble finding a collector who can appraise it or may be interested in some of the coins . I don’t think there is anything life changing here but I think there might be some potential .
Do you know anyone out here in LA I can reach out to’?
Thanks for all you do !
Have a healthy and proprietors “24”!
I normally don't respond to comments, but I randomly saw this - and - I'm moving nearby from the east coast! I'll be there in about 6 months. However, I don't know anyone in the area. Shoot me an email at treasure[at]treasuretown[dot]com.
For 8.8k thats a damn steal there's by the looks nearly 7k of just gold lol back to watching
Take the 10$ one to some 1 that has a xrf machine that will really open the window,you might have something very special,and even minus that 1 coin your still miles ahead i couldnt tell also if that was a 20 peso also.. Id buy all of that ez at that price hats off though
I hope you didn’t get burnt too badly. You still got some nice coins out of that. You could make more money selling to collectors that dealers, just not as quickly. A better profit should help make up the possible loss. I hope the “fake” at least turns out to be real gold.
Question?? Wouldn't the seller let you look the gold coins Over, before you got them😢😢
only way to do gold buy is sitting....07 we would do Wataburger meets at 1am 😅 super sketch; but taking someone with you (packin) is the ONLY WAY
😅From Alaska to Texas to Boston.....ya HAVE TO KNOW SOMEONE 🥷🏼🏴☠️🌐
As someone who’s been in the hobby and industry for nearly six decades, yes, the 1901 $10 Gold Eagle is quite obviously not a genuine coin. But I’m looking forward to seeing exactly how much real Gold, if any, is in this counterfeit piece. And how to “deal fairly” in purchasing coins - or really anything - from another person is an ethical question in and of itself. 🤔
I have several 2.50 Gold Indian Heads, and 3 of the 10.00 Gold Indian Heads from a collection my family has had for many years. How do I go about getting them graded? I have inherited these and know nothing
Choose between PCGS NGC or Anacs. Go to there websites decide for yourself and your budget fill the forms out mail it out and wait
i was 15 in 1986 when i bought my first gold person to person. got taken cleanly! becaue if the nature of the shady street person making the offer, i thought it was stolen but it was very thin plated necklace. waiting for the RTD bus in downtown Los Angeles on way to school.. i got schooled. I have been overly cautious ever since . what is is the 0.00 gram weight of your sus coin? have you ping tested it? ive seen several folks say sigma does not work on the heavy clad gold over tungston . ping and weight/diameter/thickness never fail
i know people that think of a positive result on the Sigma as the Holy Grail answer to the question, clearly not so. I hope you come out good bro, peace.
Around the world hu? I got all the Lincoln cents you and most coin collectors would dream about.
I got a 1984 d aluminum penny uncirculated off struck. 1999 1909 05 03 Indian head 1969 s nickles 1975 no mint mark 3 Penny's and 5 dimes proof 1975 metallic Penny's in s d n no mint I got 36 buffalo 2005 speared d bison Jeffersons 38 - 2023 i git 1960 quarters 1927-2023 penys I got 30 1969 penny in red brown red brown i got 1958 wheat 2 times. I got 1955 wheat 3 times I got 1959 memorial 6 times and 1943 steal 3 tines 1944 different colors Penny's
I surely hope you didn't get beat? I hate people who do that😩😠😠
That stinks on the gold. A good learning lesson a least.
Maybe take this as a sign to focus on ancients.. leave the American stuff for someone else to fool with. 🙂
You should have had your eye-loop with you. 😞😩😩
That gold one might be real. Just struck a little off-center or a sample strike.
I would have paid $1000.00 less
The face on the 1901 $10 looks strange. Did you do ping test on it?
I got a 1984 d aluminum penny uncirculated off struck. 1999 wide n close oenbys by the rolls.. 1909 05 03 Indian head errors. 3 1969 s nickles 1975 no mint mark 3 Penny's and 5 dimes proof 1975 metallic Penny's in s d n no mint I got 36 buffalo 2005 speared d bison Jeffersons 38 - 2023 i git 1960 quarters 1927-2023 penys I got 30 1969 penny in red brown red brown i got 1958 wheat 2 times. I got 1955 wheat 3 times I got 1959 memorial 6 times and 1943 steal 3 tines 1944 different colors Penny's
Prototype?
Some of them the word “trust” is spelled wrong the u is a v (trvst) ??
It's intentional and not really wrong.
Normal. Same a silver peace dollar 👍🏼
Lesson, I will look very hard at any coin I buy. Also why would you fake such a common date coin?
When you show a coin, show it long enough for a studied view. Hold it steadily and up close. Now, give it another try.
Sir pless apnar nambar daw
First!!
I was hoping you would ping test that eagle... if it checks out as gold I would set it in a bezel and sell it as a piece of jewelry 🤷♂️ you definitely paid up (some dealers would say your paying your dues) regardless.. very sellable and nice 🪙's.