Occasionally Proxiblog has to research an issue over several days before posting, and in this case, on counterfeit coins, we are looking at how various Proxibid auctioneers selling coins deal with the topic. Watch for an article in the coming weeks.
Proxiblog recently purchased a counterfeit coin that we could not detect was a fake based on digital photography alone. We had to weigh it and study its striking methods to discern the forgery. Once again, the auctioneer was extraordinarily professional, taking a return on the coin and assigning liability to the consignor rather than the bidder.
In this article being prepared for Coin Update News, we will look at laws governing counterfeits and how certain boilerplate terms of service do not fulfill obligations, especially if the auctioneer is a member of a numismatic association.
We also have been surprised and pleased at how several Proxibid auctioneers already know this and have fashioned terms of service to uphold numismatic shared values.
We will applaud those, and encourage others, once we have analyzed all the laws and facts.