PCGS (Professional Coin Grading Services) has purchased a half dozen coinage dies used to produce counterfeit Chinese coins.
PCGS will display the dies and numerous counterfeit Chinese coins at the Long Beach, Calif., Coin, Stamp and Collectibles Expo Sept 18-20 as part of its consumer protection measure. The dies and coins were purchased through an online auction from a seller based in China. The dies are reasonably well made but the counterfeit coins would be detected quickly as fakes by specialists in Chinese coinage.
These coins are a trap for tourists who see them as a real bargain and buy them.
PCGS wanted to remove the dies and coins from the market to protect unsuspecting or unwary collectors. Unfortunately, it is suspected there are many more counterfeit coin dies out there.
Currently it is a pretty big problem in China, with plenty of poor quality counterfeits to fool tourists. However there are some good counterfeits coming out of China, and that can be dangerous.
The counterfeit dies and coins will be displayed at the PCGS booth #807, during the September expo. For more information you can call (800) 447-8848, e-mail CustomerService@collectors.com or visit www.PCGS.com.