Counterfeiter Reveals Fake PCGS Slab Diagnostics
Early in 2008, the coin collecting marketplace was hit with a series of fake grading service holders, or slabs. The first to be hit was NGC, when counterfeit NGC holders showed up at coin shows and online. Rumors were rampant about fake ANACS and ICG slabs, although I never saw any concrete proof that large numbers of them had emerged recently. Then in March, the other big grading service got hit hard; PCGS fakes were coming out of China, with counterfeit coins in them, and these slabs were reputed to be so dangerous that they could fool the experts.
The two big grading services took nearly opposite stands regarding how to address the problem. NGC immediately published photos of the fake NGC holders along with easy-to-follow diagnostics that would allow any collector or dealer to authenticate an NGC slab for himself. Confidence in NGC slabs was restored quickly, as collectors, armed with knowledge, felt empowered to protect themselves. PCGS, on the other hand, refused to release photos of the fake PCGS slabs, publishing only a list of the certificate numbers involved. PCGS provided no diagnostic information whatsoever, claiming that to do so would serve to educate the counterfeiters in what they were doing wrong.
I have been investigating the coin and slab counterfeiting industry in China for months now, slowly building relationships with those who are producing the fakes. They talk to me because they are operating legally in China according to Chinese law. But whenever the subject of fake PCGS slabs came up, my sources would clam up, refusing to discuss the matter. I finally got a breakthrough about ten days ago, when a contact admitted to knowing who was producing the fake PCGS slabs.
Scott Travers had recently been the first to publish PCGS-provided photos of the Chinese-made fake PCGS slabs in his Random House book, the Coin Collector's Survival Manual, 6th Ed. I contacted him to ask if I could use one of the photos on my Web site. In his new book, Scott reveals the first PCGS counterfeit slab diagnostic that had been published in numismatic media (as far as I know), stating that the counterfeit slabs do not stack with real PCGS slabs, nor do they stack with each other. I sent the photos to the Chinese contact to ask if these were the ones his associate was making. Imagine my surprise when I get the photos back, all marked up to show the diagnostics that PCGS didn't want to make public - because they didn't want to educate the counterfeiters! So instead, the counterfeiter educates us all, in his own handwriting!
Comments
Wow. Truly a valuable resource you have published here. While I must agree that this information can be beneficial to counterfeiters, I have to believe that they would more than likely be aware of these imperfections long before the public even becomes aware of these bootlegs’ existence. Their interest is in mostly duping the unsuspecting sector of the consumer base, not the ardent “elite” collector. And apparently, that’s all that they require to keep their bootlegging operation lucrative. So really, I’m glad this information is getting out. Thanks for this important guide.
Hi Susan
PCGS has used a lot of different holders over the years and according to the holder and denomination all the relevant comparision change accordingly.
So I believe it is going to be difficult to tell a counterfeit holder from the real thing unless a person is really up to speed on all the possible variations.
However, your article is important to continue to inform both dealers and collectors to beware of these counterfeit holders. In the future we will no doubt be flooded with them, and they will most likely improve in the quality of imitation.
Here are two valuable links displaying sample PCGS holders and how they developed and vary in text and form.
http://www.sampleslabs.com/pcgs.html
http://www.ashmore.com/vamupdate/pcgsslabs.htm
BB
In the age of the world wide web. It wouldn’t surprise me if the counterfeiters are also monitoring chat rooms around the globe, where they are selling their bootleg items.
coiny
What is PCGS thinking , letting fake coins in there slabs circulating and the average collector doesnt know what to look for and if his coin is real or not and pcgs wont even let you know what the difference is in a fake or a original as for me I quit buying pcgs coins , and will sell every one that i have if I can break even. Its a shame that a company that I respected as #1 in grading will do this for there own gains , at least NGC lets you know what to look for in there fake’s , as for coin collecting , I dearly love it , but pcgs has destroyed all my confidence in the art of collectin , I have invested thousands of dollars in pcgs coins beleving in there standings , but after reading about there fakes and them not even letting people know what to look for , I don’t know if my coins are real or not , its a shame and disgrace and I have lost all respect for pcgs and there bull sh1t way of doing business. Most people will feel the same way that I do and pcgs is at the bottom of my list of grading services , might even break out all pcgs coins I have and sell as raw , don’t want anything to do with there name anymore , and think I’m done with collecting ,