When a Major Dealer Tries a Major Con Job

There is always much talk about selling of fake coins. This happens on many social networking sites and often is a fight over small sums of money.

It is also not helped on such sites when fools decide to play and start calling any coin a fake without adding detail. This of course causes some consternation because whole threads are built up around nothing and new collectors are discouraged. Despite many attempts to bring rhyme and reason to many of these discussions nothing happens and administrators of some sites delight in the controversy. Does nothing to help collectors or sellers of course and conspiracy theorists start to wonder if these sites and admins are not stooges for something else that wants to discourage coin collecting.

However at very, very rare times and con is perpetrated. This con concerns a coin sold for $30000 US. For my Indian collector friends note the price that is US dollars not Rupees.

The coin was sold by a dealer who is or was apparently of impeccable character. He was and is a lion among European dealers. He catalogues are true works of art. In fact he is looked upon as a world expert in these coins. He has held the highest office in various major coin societies.

And yet the coin is a fake, demonstrably a fake, a signed off fake by real experts and condemned after close examination by senior and knowledgeable experts.

So we all think the process is simple. The esteemed dealer will refund etc. etc. how wrong we all are. The dealer refuses to discuss and yet his business proudly goes one with a beautiful website and proclaiming private treaty sales and auctions.

The dealer refuses to refund.

So the alternative is legal action and that will happen both against the dealer and the association he was a part of at the time of the sale. Perhaps there is a wider conspiracy at foot here but we just concentrate on what is an open and shut case.

Full details will be published as the case progresses. Names will be named, not only the dealers but the associations that have turned a blind eye to this and possibly not for the first time.

Oh and before comments are discussed it is an open and shut case. Intent to defraud is proven as is the whole process leading to the long con. At least this buyer, a major one, has the guts to stand and fight with the best legal team and advisors by his side. This is the path that should be taken at all times when the standard negotiating procedure has irrevocably broken down.

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