If you buy Chinese silver Panda coins on eBay, you could be buying a fake coin. Many Panda Coins listed on eBay are fake. Almost half look suspicious.
I rarely find fake rare American coins on eBay, but fake pandas are common.
I bought some fake pandas straight from China a few years ago and now I know what to look for in a fake. They are easy to spot when you know what to look for.
The counterfeits are so well made that I would swear the China Mint has a night shift that specifically produces counterfeit versions of its own highly regarded silver coins. My coins were in capsules and even in plastic mint envelopes. They looked for everyone as if they were real.
I’m not sure what made me prove the authenticity of one, but I went crazy and proceeded to take the capsule out of the plastic bag and then the coin out of the capsule.
The first thing I did was give him the ring test. That’s where you balance the coin on your fingertip and touch the edge with a Paper Mate pen. It should produce a sharp, sharp tinggg. This one did not. It just made a thud.
I took out another panda coin that I know is real and gave him the proof of the ring. It sounded pleasantly. I then compared the two coins and noticed that the suspect coin was probably 20% thicker than the real version.
The final test of conviction was to cut him in half with a hacksaw. The interior metal was dark gray with a silver coating. I tried to contact the China distributor, but they ignored my refund request.
What makes me think that China Mint could be producing both the counterfeits and the real version of their panda coin? Counterfeits resemble the real thing in every detail except one: the capsule that protects them.
Remember I said that fake pandas are thicker than their real counterpart? In order for them to weigh the same amount and have the same dimensions as the outer box, there must be some extra room in the mint capsule for a thicker coin. And there it is!
You see, the genuine Chinese panda case has three tiny tips on the capsule to hold the thinnest coin. Counterfeit coins do not have these three little tips. Want to see how many counterfeits are on eBay? Look for the three little tips on the capsule.
When I am interested in a silver panda coin where I do not see the tips, I contact the seller and ask him to verify the coin against the ring test. I almost always get a response like “I know the coin is real. I’m not going to test it for you.” However, I don’t get any response.
I am looking forward to buying the coins and doing the test myself and then reporting it to eBay if they turn out to be fake. Suddenly reality hits me. It is a losing battle. It’s my word against the seller’s.
The seller can always claim that I exchanged their real currency for a fake one, just so they can accuse them of selling fake coins on eBay. Selling counterfeit coins on eBay is strictly against eBay policy and will prohibit you from selling on eBay again.
I can’t stop the sale of counterfeit coins on eBay, but I can educate potential buyers that they will listen and not bid on counterfeit coins. I rarely find a counterfeit Morgan or Peace dollar on eBay, but there are a plethora of fake pandas for sale there.
While pulling out fake and real Panda coins to photograph, I also noticed that counterfeit pandas don’t age as well as their real counterparts. For photographs of these coins that graphically show the difference between real and fake, go to: http://heritagecoingallery.com/2014/07/20/are-you-aware-of-the-profusion-of-fake-1- oz -Chinese-silver-panda-coins-on-ebay /