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Fake Pandas


Agpanda

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I'm certainly no panda expert, but I saw those earlier and knew they were fake straight away.

People really need to do their homework.

I wonder if the buyer will ever know they are fake, or just put them with a collection somewhere.

 

 

Sadly is it more likely the buyer will get stung when he comes to sell them. When they are probably going to worth (or would have been) a lot more than they are now too. You have to be so careful, you will lose out one end of the deal or the other.

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Every fake coin I report to eBay gets sold - they take no action!!! Absolute Disgrace!!!

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Maybe if it was reported to the police then action would have to be taken.

 

This must be a crime and there must be a division of the police that deals with counterfeit goods being sold on the internet!

 

I would be suprised if there wasn't !

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Maybe the amounts just aren't worth bothering about StackemHigh, there's a little vehicle fraud on ebay and that can be into the thousands on one transaction, so calling plod about a hundred or so in ropey "silver" might not get too much interest. It's easy to focus on the neagatives of ebay as frankly there is enough there to focus on, but there are some really good bullion sellers on there. As mentioned earlier I'd like to see a list of tried and tested ebay bullion dealers, maybe exclusively forum members with an ebay presence?

Not much use for the seasoned buyer but I think it would be of use to collectors/stackers just picking up the odd ounce now and again. And if like me you are a bit of a bargain hunter then you are probably going to risk buy once in a while,  must say, there were enough warning markers on the two chancers above for anybody to pick up on after a little homework. 

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The problem is whos  jurisdiction is it?

The country where the seller lives? Or the buyer? Or the server? Which country did the transaction take place in if I am in Portugal, you are in the UK, the servers are in the US and the company is registered in some tax haven?

 

It has always been this way, and ebay have made billions from it. that is why there is no political will to change it. Big business is making big profit.

 

I will keep reporting them though now and then. We all should really, I suspect that if they get enough reports on any one item they will do something.

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It's just not worth their trouble really, trying to crack down on all the small coin rip-offs.

They're happy just pushing the "buyer is totally protected" mantra and hoping most of them will get complacent and not realise they are buying fakes.

Any that do will get refunded and most of the time Ebay will recoup the costs from the seller's paypal account. They may have to stand the odd refund that their can't recoup but compared to all the extra fees they're getting, it's probably small beer. C'mon, a company this successful will have a department devoted entirely to risk managing these very issues; they'll know how to behave to extract the maximum profit from the punters.

I remember 2 - 3 years ago, there was a spate of very obvious cons with sovereign sales; lots of 10s and some very high value rare coins. it must have cost them many thousands but they soon got on top of it and introduced extra sellers checks, haven't seen the like since.

Profile picture with thanks to Carl Vernon

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Maybe if it was reported to the police then action would have to be taken.

 

This must be a crime and there must be a division of the police that deals with counterfeit goods being sold on the internet!

 

I would be suprised if there wasn't !

@StackemHigh

There is.

http://www.actionfraud.police.uk/report_fraud

If silkroad were responsible for providing a platform for illegal activity then why are ebay not accountable?

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You could try it, the problem will occur if the rules changed to Ebay to be liable, then they may ban coins from being sold especially Pandas.

 

The other outcome that could be negative might be some unfortunate sole is found guilty of selling a fake coin and gets a criminal record for what he/she believed was a genuine coin.

 

The Positives to the police and trading standards taking action are there would be less fake coins in the UK so you could buy with more confidence. I believe the prices would go up for Panda coins in the UK too.

 

At the moment I believe there is a restricted market for secondary bullion coins in the UK between collectors/stackers because of the fake coin problem, this means we are more likely to buy from dealers!!!  If you get what I am saying.  I believe it suits some people to leave the situation the way things are.    

 

Fear sells!

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I would suggest that reporting all counterfeit goods coins or not would be best for all. If i want a knock off i know where to go for this type of item.

 

It's only when you think you are getting the real thing to find out later that it's not that is the problem. (In many minds)

 

An item that has been disguised to be something else is what causes problems.

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  • 3 months later...

I have today purchased a nice Panda from ebay, on the strength of that on my recommendations ebay page, they are suggesting I purchase some other Pandas, trouble is, they are fake!

 

I am going to call them tomorrow and ask how they feel about this, recommending I purchase an illegal item.... Might open a can of worms... Anyone care to guess how that conversation goes? mmmmm?

I will report back!

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I bet the conversation goes like this. 

 

"we at ebay take counterfeit items seriously and will strive to get all fake listings removed" 

 

And then either do nothing, or remove the odd item just to look like they are doing something.

 

Final valuation fees is all they care about, the couldn't care less as long as they get those..for them closing counterfeit items is costing money in employee wages and loss of revenue in Final valuation fees - so as much as they say they care..They dont. 

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I was searching generally on ebay over the last couple of weeks and noticed a lot of Pandas being sold directly from China, one, perhaps more, with a buy it now price of £9.95, theres a fairly new listing which states the seller is in the UK but there is no description of the item as with most Chinese sellers and the UK seller states that there may be a delay in posting due to him being away, the poor English grammar is that of the Chinese listers [generally]. One seller states that the Pandas he is selling is NOT silver, if its not silver then surely its a fake. It is definitely undermining the secondary market for seasoned investors/buyers/traders. 

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Just had an interesting conversation... ebay say all the right things, they have teams focusing on this etc etc, they are reliant on other people reporting these items via the report item shortcut on all listings... mmmmmmm....

 

Bosse I wouldnt say as many as 70-80% on ebay UK, but there is a significant number...

 

Cheers

Dave

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Saw several on the Bay this week selling from a UK address but then in the body text it states delivery can be several weeks confirming they are indeed travelling from the other side of the world.

Prices of 99 pence with £2 postage ( all from memory so treat numbers as approx. ) 

No mention anywhere of copy, plate of replica - all giving the impression of genuine.

Several had no bids but a few are attracting a bid or 2 of about £2 so someone out there is going to receive fakes and I hope they never appear on this forum for sale later.

As for reporting to eBay - waste of time - not taking any action whatsoever.

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What I find iiritating and ambigious is the generic and oft described uses of the word 'silver' and 'proof' there are several listings this evening of 'proof'coins when they're obviously not, many almost most in coin listings use silver when they're nickel but obviously silver coloured and in the case of bars its not until you read the item description you find they're plate but I guess ebay doesn't have a policy in accurately describing itemsin coins!  

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What I find iiritating and ambigious is the generic and oft described uses of the word 'silver' and 'proof' there are several listings this evening of 'proof'coins when they're obviously not, many almost most in coin listings use silver when they're nickel but obviously silver coloured and in the case of bars its not until you read the item description you find they're plate but I guess ebay doesn't have a policy in accurately describing itemsin coins!  

 

I agree and continue to be surprised that fakes show 1 ounce 999 silver and a currency denomination.

If someone on eBay was selling fake Levis jeans or a well known perfume the authorities would be very interested in a seller with 1000+ feedback, but not for legal tender coins - where is Trading Standards these days ?

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