Topic: BEWARE of FAKE CASASCIUS COINS - page 8. (Read 25406 times)

Don't worry when the time comes for me to get rid of some of my coins you most certainly will be notified. I believe I will post a full list of what I own, once I get all of them graded.

Hahah that is true! an open list means invitation to offers and sometimes you get tempted

On personal note, would love to see the list to see if we can maybe do some trades that are beneficial for both

I've contemplated that very point that you stated. Also I do not wish to part with any of my coins in the foreseeable future and in posting the list it might entice people to make offers. But I do have a list with people who have made offers on certain coins

that is a nice idea indeed but you would also be showing your assets which might bring fud and risk to you!
I guess as long you have the details of your purchase, it should be fine when it comes to selling them

I foresaw provenance being a big deal with crypto coins.

1. I have all of the correspondence with any deal I've made on this forum and others.
2. I have most of the envelopes / boxes the coins were shipped to me in.
3. I recorded on the box The Forum member I purchased the coins from, the coins, the serial number of the coins, the amount I paid in Bitcoin and translated into u.s. dollars.
4. And most importantly I left feedback with the reference to the original listing of where I purchased them.

I'm thinking about putting a list of the coins I own on this forum with all the details on the coin such as a description of the coin, funded or unfunded, who I bought the coins from with reference link if applicable, the date purchased, and pictures of the coins and COA's and such. All this to prove provenance and the validity of my collection.

You mean provenance? That is a good idea but how do you do that with these coins? Especially redeemed ones? I know some people have bought directly from Mike and thus know where the coin came from but otherwise how would that be done? I was fortunate enough to buy a silver gilt 2013 1BTc directly from Mike right before he closed shop in 2013.

At that point just don't buy any coin that you can't trace the origin, even partially.

Another fake or forgery popping  up on Ebay..this time its from a new user newbie.

Ebay has been contacted about this and will hopefully shut down the auction.



https://www.ebay.com/itm/Casascius-1-Bitcoin-2011-Bitcoin-Free-Shipping/163019569743?hash=item25f4b93a4f:g:UTcAAOSwWFFa4etE

Les..yes you have to give time for the pic to load..I also added a link

Let me tell you something..for the untrained eye..these look like the real deal.

I had to use a magnifying glass to confirm they were fakes.

The photo flash and zoom help alot too...but for the unwary customer, they will be fooled very easily.

Holy shitballs, that is scary.  

Edit to add:  I see the coin was peeled, so a bit less scary, but when they successful fake the holo with first bits that check out, oh my....

Holy shitballs, that is scary.  Do you have photos of the fakes?

Just bought two REAL CASASCIUS 2011 coins from this ebay seller sellwynnm

https://m.ebay.com/itm/Original-2011-Casascius-Original-Owner-no-virtual-value-/202287854894

   He posted pics of legit cas coins but then sent me the forgeries. If it was anyone else they would have been fooled! They are that well made. He operates out of Canada.



https://i.imgur.com/kLgBo3q.jpg

He will be refunding me my money...but damn how do you post pics of real and send fakes?

Anyway...he refunded my within less than an hour. He claimed he used google pics for posting and not aware what he had were fakes

Yes Ty..it is the same seller.
 The scammers keep on scamming no matter what.
 As MJ said, he was also asking to make holos with the idea to even make his forgery more realistic.
 We got to keep an eye on this scum.

A new one to add to the list (sort of), same seller just gold plated his fake 2011 Casascius coin here- https://www.ebay.com/itm/202291230811?ul_noapp=true

For anyone following this thread, a new one has been made on

[REFERENCE] BREACHED or SCAM COINMAKERS LIST
https://bitcointalksearch.org/topic/info-breached-or-scam-coin-makers-list-3315347

Yes at the moment that is all we have. But that's why we NEED a company to authenticate our coins.

Its not IF it will happen but WHEN.

I'd never bother with a grader myself, but I would presume their job is purely to cast a judgement on the condition of the lump of metal placed in front of them and no more. They can't be the arbiter of everything as there must be plenty of coins they have no knowledge of.

If something's valuable it's down to the buyer and seller to verify it.

Lez thanks for the compliment.

As we have not yet reached the major auction houses, we are the experts on these coins and thus must remain vigilant to protect ourselves and other people that are coming into this area of collecting.

This thread can be a posting board for any future discoveries which I am sure will arise.

Prior to my introduction into physical crypto collecting, I collected stamps.

Any high end stamps were always sent to an expertization service. An example was the Philatelic foundation.

The expertization  certificate covered the defects, faults and if the stamp is genuine or not.

This is something we lack in our hobby. We need a coin not only to be graded but authenticated as well.

From what I read in previous posts, ANACS graded a SOL NOCTIS that was a China fake.

This from what I understand this can happen with any Physical Bitcoin at a  coin grading service? In other words they will give it a grade on condition but not on authenticity?

Capital Gains too...don't forget that 

First off great job with this thread, it is important to have this information out there and there have been many useful posts and discussion.

Regarding the future, I am not too concerned. My reasons for a lack of concern:

1)  The bulk of my physicals are loaded Casascius Silver Singles.  I believe by the time I am ready to sell them btc will be over 100K USD/BTC.

2)  There are many coins which trade in the major auction houses (Stacks & Heritage) for 100k USD plus every week (have a look).  Pretty much zero fakes ever get thru as the money involved is high enough that experts can make 100's of thousands of dollars per year. For this reason you get very intelligent people dedicating their lives to becoming experts at authenticating very smalll subsets.  We will have experts at this when the coins are worth over 100k.  Fakes will be near impossible, as they are today with high value US coins like the 1794 Dollar.  People successfully fake $500 Morgan Dollars today and sell them on ebay, but no one gets away with faking a coin worth 100k.

In summary, it is very rare a coin worth over 100k USD is successfully counterfeited and sold thru any major auction house and in 5-20 years Casascius 1.0 btc will be worth over 100k USD imo.  The downfall is, the buyer's will pay a 20% premium to the auction houses.