This may just be the worst place to buy coins online

[Quin]

Have you ever heard of a website called etsy? It may just be the worst place to buy coins.

A simple search for "rare coins" returns these results:


And it gets better. The amount of ridiculous prices, deception, and fraud contained on this site when it comes to coins is incredible, and a little bit puzzling.

Who is making these listings?
Is anyone buying?
What are these coins REALLY worth?

These are the questions that my brother Kevin and I decided to tackle in a brand new video I just posted to my YouTube channel. Check it out if you're interested in finding out more!

 

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[gunsil]

Tons of Chinese crap for sale on etsy. I think they have even less buyer protection than ebay where many fakes of any kind are also sold.

 

[l.cutler]

I can tell you a lot of people show up on the coin forums, sure they are rich because they saw a coin just like theirs on Etsy. Then they don't want to believe the truth.

 

[smokeythecat]

I've never used them. I rarely have trouble on Ebay. You have to investigate anything you buy ahead of time. I would never buy a coin unslabbed anymore. Too many fakes.

 

[cyberdan]

I sell on etsy and ebay. sometimes I sell coins.

Many sellers hate etsy (I only dislike them) but I do have to stand up for etsy this time. It is the sellers and not etsy that are the problem in the case you point out.

If someone is dumb enough to fall for their tactics that is their fault. If I need something and I know nothing about it I will do research until I am knowledgeable enough to buy.

 

[BC1969]

I've never used them. I rarely have trouble on Ebay. You have to investigate anything you buy ahead of time. I would never buy a coin unslabbed anymore. Too many fakes.

Never buy the slab..buy the coin.

 

[Megalodon]

Never buy the slab..buy the coin.

I agree with Smokey. The issue is not that the slab is being bought but the expert opinion of the authenticator hired by PCGS, PNG, or ANACS. They see thousands of coins and their opinion is what one pays for, not the plastic. Today, counterfeits are higher quality and more deceptive than ever, so paying for expert authentication of an expensive purchase provides considerable peace of mind. I do worry about stories that the slabs themselves are now being counterfeited. I hope that is not true, or if it is, that it is minimal.