Scams Galore

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There is no need to go looking for coin scams on eBay. They will find you by the dozen. Even the occasional numismatic online shopper will be inundated with alleged “deals” that are far beyond too good to be true. Here are a small number of the many frauds that have been offered unsolicited to me while I was browsing eBay.

Chinese Fakes

The first such deal is totally laughable. Imagine a 1921 Standing Liberty quarter with a Type 1 bare breast on Liberty and UNITBE STAT AR IBE lettering on the obverse. Would you believe I could have this rare date for only $29.99? If you can afford just one coin, pass on this deal for an exceptionally popular rare date at the same price.

How about a 1909-S VDB Lincoln cent in what appears to be a chocolate brown Extra Fine for just under $30? That’s not all—this allegedly “rare” coin also features an off-center strike. If such a genuine coin existed, it would cause intense bidding at any major auction. As with many of these fakes, the seller is located in the People’s Republic of China, and his products have never been within 1,000 miles of a trustworthy third-party grading service. This vendor is definitely not a numismatic savant, as he describes the piece as “Wrong [sic] strike.”  Perhaps this “special” key-date Lincoln cent isn’t all that scarce, as 61 have been sold.

Maybe you would prefer a different deal of a lifetime. Check out eBay’s numerous better-date and Carson City Mint Morgan dollars for well under melt value. I might have to take out a home equity loan and load up on such amazing bargains.

Don’t be a chump and pay four figures for a certified 1916-D Mercury dime. Instead, browse the large selection of this famed date on eBay and pay less than $50 apiece. There is one minor problem: such Chinese fakes are worthless. 

The 1937-D “Three-Legged” Buffalo nickel is the dream coin of many collectors. Why pay the price a reputable, professional numismatist would charge when the eBay version in About Uncirculated can be had for a mere $34.95? I could go on for several pages, but you get the point. When it comes to policing scammers, eBay is somewhat less than passive.

American Scams

Not all crooks are located overseas, but con artists based in the United States tend to take a different approach. Check out the many well-worn, common pre-1959 Wheat cents and Buffalo nickels priced at hundreds of dollars on eBay. You could pick up a circulated “no mintmark” (all quarters of this date lack mintmarks) 1965 Washington quarter for just $575. If silver quarters are your preference, grab a proof 1957 Washington for $600 instead of paying $20 to $25 at a local shop. 

Then there is the alleged 1998-D Lincoln cent error for just $29,999. This coin isn’t a spectacular misstrike, but a circulated piece that grades as scuzzy. Such crooks might fool a few novices at $100. However, the delusional greed of this price will hopefully keep potential victims away. 

Protecting New Collectors

So, what does this mean for savvy numismatists who know better than to fall for these tricks? Newbies who fall for such crooked deals usually turn bitter and run from the hobby permanently. We need to be patient and persistent educators when it comes to teaching the unwitting how to avoid the many potential pitfalls of buying coins. Opportunities to work with people one-on-one naturally present themselves when others know of your interest in rare coins and bullion. Perhaps you could take it to the next level with presentations at libraries, senior centers, civic organizations, and community colleges.

The uninformed general public needs to be warned of such scams and frauds. The numismatic community is especially well equipped to do the job.

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A version of this article appears in the March 2026 issue of The Numismatist (money.org).