Counterfeit Seated Half Dollars Alert!!

"I received the following bulletin from Ray Czahor of Cookie Jar Collectibles, and we agreed that it should be reprinted in the E-Gobrecht. I was just talking to a good friend in Manila Philippines this morning ...

[Jim Archibald]

Where's the rest of the story? details, details, details! Ray Czahor and I are long time friends, and I respect him as a numismatist. I see no reason to doubt your statement, but you left everyone hanging. What's the story on these counterfeits? Where are they coming from? Are there only certain dates affected? Where were they seen? What country or countries are they coming out of? Are they seen only raw or have they surfaced in the counterfeit NGC slabs? Please, we need more than one sentence here.

[Jim Archibald]

Here's the whole story directly from Ray Czahor(Thanks Ray!)
"I was just talking to a good friend in Manila Philippines this morning
> on a couple of Philippine issues. He attended a local auction this
> weekend. He said Moslems were offering to local dealers, some of whom
> bit, 80 to 100 SCARCE to RARE US Liberty 50 Cent pieces. They
> included dates 1847, 1857, 1857S, and 1857O. He said the pieces were
> the correct weight, high grade UNCs, nice reeding but rounded edges.
> One dealer there bought 65 pieces for up to $250 for the rare date.
> Maybe you have already seen them but thought I would pass this info
> on.
> Thank you,
> Ray Czahor"

[Paul de Jesus]

I have seen 2 samples of the actual counterfeit coins myself. An 1857 and 1857O. According to a US dealer, they are struck pieces. Surfaces had been polished and artificially toned. According to the dealer they lacked the width of the flat rim (apparently because they had been rounded as Ray Czhor noted). Weights were correct. First glance note on the coin was that they were UNC pieces that had been damaged by polishing but closer examination yielded the various flaws noted. I had to consult with the local dealer to verify my concerns.
Thank you.
Paul de Jesus

[Jim Archibald]

Thanks for the follow-up Paul. It seems just the latest installment of China's newest hobby, counterfeiting. ~ Jim

[wilson que]

careful careful

[Jim Archibald]

Interesting comment Mr.Que, perhaps your of Chinese ancestry, but I meant no insult to the Chinese people in general. In fact, I like China and the Chinese race. The fact is that China allows coin manufacture for export and has been the sourse for thousands of counterfeit coins entering the US via ebay and other avenues. The Chinese Government does not regulate this practice,and it is conducted in the open by many different firms in China. In fact,they tend to encourage it because they do not allow historic Chinese coinage to be exported to other countries, so instead these "replica's" are made to disperse. If you need further evidence, check out this photo gallery at about.com regarding these Chinese fakes.The facts speak for themselves.
http://coins.about.com/od/worldcoins/ig/Chine...

[Paul de Jesus]

This is quite alarming! I have long heard and suspected of counterfeiting with China as its base. The photos in the link suggest a grave danger to all numismatists. Not only is this a large scale operation, it is professionally funded. And the lack of government control and permissiveness makes this all the more dangerous for the unwary buyer. The wide variety of what's produced, ranging in country, date, rarity plus the fact that some are slabbed in counterfeit containers as well clearly indicate that there is no intention to sell these as reproductions but with the express intention of defrauding buyers.

The Chinese people have a long and rich history behind them. It would be such a shame if that history will be tarnished by these acts of greed.

If there should be somebody who can do something about this, it is the good and decent Chinese people whose reputations are at stake. Being one of the if not the largest ethnic group in the planet, I am certain that there are some who will not stand for this. I hope they take the challenge of actively protecting their cultural heritage.