Everyone helped last time, now tell me why this one is fake

[joefro]

You all were extrememly helpful in letting me know why that blank reverse cent a while ago was definitely fake.

Now there is another coin selling on eBay (starting bid is half a million dollars hahaha) and I was wondering if someone could give some info as to how this was made, etc...

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=524&item=8311745492&rd=1

If it were real this would be a truly incredible cent, but why in the hell would someone not slab a coin like that if it WERE real.
Its interesting nonetheless, but not half a million dollars interesting! Thanks as always,

Joe

PS This is also being asked about at CU but so far everyone is stumped.

[Bob P]

I don't have a clue about that one Joe. Have never seen it, but if in fact it is authentic, I still don't know if it's worth half a million. I agree with you on the slabbing though. It would be a minimum expense to have this thing authenicated by a third party grading service. Once that's done, no one has to guess on whether or not this thing is genuine or not.

[wavysteps2003]

I just went through a similar experience with a mulitiple strike 1960-D cent (seven different strikes on the obverse and reverse) that after being examined by several experts, turned out to be made outside of the Mint.

From what I can gather, information wise, it is not that overly hard to produce these multiple strike coins, however, when it comes down to the actually proof that that is what they are, then the story changes. More than likely that is why this coin is not been authenticated or slabbed; the proof of what it is supposed to be is not present.

There are other "red flags" with this auction. A seller with zero feedbacks, outside the USA and a member on Ebay for over four years without activity are just some of these inconsistancies. One other fact that makes this a very suspicous auction is the price increase; it was at $350,000 and now a jump of almost another $150,000. Come on, give me a break

Hope that this helps you and does not discourage you from the use of Ebay; there are some very honest and reliable dealers on there that have great coins. Just be carefully and always look for the PayPal gaurantee and the sellers return policy. If neither is present, stay clear of the auction.

Wavysteps2003

[Bob P]

Good points Robert. In addition, the seller revised the info on this auction over 30 times in just a few days. But...I guess if he did sell it for a half million, then it wouldn't be too much of a problem to deliver it is person as he states. I guess the 3030 people who viewed the item had questions also.

[joefro]

Good info WavySteps (Robert?). I believe the cent was for sale even before that for $100,000. I don't know if this person actually thinks this will ever sell or if its just for publicity of some kind.
You could never discourage me from eBay I sell things I buy in yardsales myself for extra coin cash. Made a 6200% profit on a dollar buy from last weekend when the auction finally ended today!!

Joe

[coppercoins]

I can't tell you why I think that coin is fake other than to say that it is too good to be true. The second strike would almost certainly have flattened the first strike better than it did.

I believe this coin to be one of a group of coins minted at some point in time with fake dies. A group of such coins surfaced in the early 1970s, but I know very little about them.

This is one of the major problems with error coins and a good reason why I don't get into them. They are too easy to fake and make look real to people who aren't deeply educated in the subject, and very easy for the experts to spot as being fake.

At any rate, even if it was real, it wouldn't be worth anywhere near the asking price. I would think $5000 or so would be the top dollar for such a coin.

[joefro]

Thats a very good point about not collecting error coins! Unless maybe you only collect slabbed/verified errors. I would pay maybe $5 for it even fake just as a nice conversation piece. Thanks for sharing your views guys!

Joe