More California Gold Replicas on Proxibid

We continue to see fake, plated and replica California Gold misidentified as authentic on Proxibid, eBay and other portals. It’s time something is done about the problem.


A few Proxibid auctioneers continue to offer fake, plated and replica California fractional gold, often without knowing how these so-called tokens have undermined the hobby. The replicas are essentially worthless, or worth a few dollars. Often, however, they are billed as rare and valuable pioneer gold from the 19th Century U.S. West.

The coins below were listed on Proxibid using language from CoinFacts whose president, Ron Guth, has been interviewed by Proxiblog about the problem on eBay, Proxibid and other portals. Watch for a Coin World column quoting Guth.

(Click photo below to expand and read auctioneer’s descriptions.)

more_replicas

You can read the language about authentic California coinage by clicking here on a CoinFacts page citing BG numbers for authenticity. “BG” are the first initials of surnames of Walter Breen and Ron Gillio, authors of California Pioneer Fractional Gold.

CoinFacts:

    Throughout the early years of the California gold rush there was a constant need for coinage to satisfy the commercial needs of a booming community being based on gold dust. … Over 450 varieties are known to exist, some undated but most bearing dates between 1852 and 1882.

Proxibid Auctioneer:

    Throughout the early years of the California gold rush there was a need for small denomination coinage to satisfy commercial needs. Over 450 varieties of these California Gold Tokens are known to exist, most bearing dates between 1852 and 1882.

If you are going to take language from CoinFacts, you might as well go the extra step and verify the BG number, which in this case, the auctioneer cannot do because these have bears on the reverse and are most probably replicas. (A few tokens with better images of bears–as opposed to ones that look like pigs or rodents–are copper replicas and were sold from a booth in 1915 at the Panama Pacific exposition; but these are scarce and need to be authenticated by PCGS or NGC because replicas of these, made of goldine, base metal or plated copper were sold as souvenirs in 1948 and 1972.)

We give Proxibid auctioneers the benefit of the doubt in cases like these. Nonetheless, sale of these replicas as authentic may violate the U.S. Hobby Protection Act, which states:

  • The manufacture in the United States, or the importation into the United States, for introduction into or distribution in commerce of any imitation numismatic item which is not plainly and permanently marked “copy”, is unlawful and is an unfair or deceptive act or practice in commerce under the Federal Trade Commission Act [15 U.S.C. 41 et seq.].

See how Cece’s Sales correctly lists similar coins in the photo below. (Click photo to expand.)

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See how Engstrom Auction correctly lists plated replicas. (Click photo to expand.)

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For more information on fake California gold, see the most accessed article on Proxiblog by clicking here.

If you are a bidder who has purchased a replica billed as authentic, you might contact Proxibid, which has been proactive and helpful in cases such as these. Proxibid wants authentic coins sold on its portal with proper descriptions. Anything else may be a violation of these clauses in the Unified User Agreement:

  • Buyer gives notice in writing to Proxibid with documentation from a reputable authenticator or provides a police report that the lot so sold is a counterfeit, Seller will rescind the sale and refund the purchase price including all fees. At such time, Proxibid will refund any fees paid by the seller to Proxibid for the lot sold.
  • Proxibid will generally require the Buyer to ship an item that the Buyer claims is Significantly Not as Described back to the Seller (at the Buyer’s expense), and Proxibid will generally require a Seller to accept the item back and refund the Buyer the full purchase price plus original shipping costs. In the event a Seller loses a claim, the Seller will not receive a refund on his or her APN or Proxibid fees associated with the transaction. If Seller loses a SNAD Claim because the item sold is counterfeit, Seller will be required to provide a full refund to the Buyer. Seller liability will include the full purchase price of the item and original shipping cost (and in some cases, Seller may not receive the item back).

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.

Proxibid Lists Top Sellers

top sellers

Proxibid has established a new ribbon and begun ranking top-selling auction houses in the Coin and Currency category. They are in descending order Liberty Shops, Southwest Bullion, Cece’s Sales, James Peterson Company and SilverTowne Auction. Proxiblog congratulates these sellers!

We applaud Proxibid for listing top sellers in each category of auctioneering. Company spokesperson Dana Kaufman says, “Our top sellers are evaluated on a monthly basis. Overall, they are selected based on activity – online sales to Internet bidders – and all sellers must meet minimum requirements for volume and number of auctions to be considered.”

These criteria make sense as Proxibid is dedicated to providing an online auction experience to those unable to attend sessions in person or travel to multiple auctions being held at the same time.

Proxiblog’s rankings in the right sidebar are based on numismatic as well as auctioneering considerations, including such criteria as shipping, buyer’s premium, quality of consignments, photography, accurate descriptions, grading prowess and value-added considerations, such as customer service.

In that light, we’re happy that three of the top sellers also are included in our rankings.

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.

Consider Coin Auction Specials

As Proxibid increases its coin auctions, which we reported in yesterday’s post, more top auction houses are running specials.

Coin auctions are known for monthly specials, whether it be in no-reserve auctions, lower buyer’s fee, flat-rate or even free shipping, and other promotions to recruit bidders.

Before sharing a few samples, we want to remind you to showcase your own specials in the header section featured on Proxibid’s "Coin and Currency" page. We've seen specials buried in terms of service.

See how Cece’s Sales and Key Date Coins announce their specials, featuring no reserve and low buyer’s fee in addition to the featured coins of each session. (Click picture to expand.)

Here are specials running this week or that just concluded:

No Reserve Specials

Midwest Coins: Certified coins throughout! Copper to Silver, Proof/Mint sets, & other coin type sets. NO RESERVE! 100% ONLINE only, SUNDAY at 6 PM CST!!! Prebid now or join us LIVE!!!!

Hradil Auction: Type Coins, Morgan Dollars, Peace Dollars, Bullion, Graded Coins, Key Dates, Gold, Silver Eagles, Absolute Sale, All Items Change Ownership Day of Auction, No minimum, No Reserves, No Shills.

Compare the allure of specials above to these announcements in the header section by three auction companies:

  • “Collectibles, coins, sportscards, jewelry and more.”
  • “Sports Memorabilia, Jewelry,Coins & Collectibles”
  • “Morgan and Silver DOLLARS!!!!!!”


Low Buyer’s Premium

Auctions Unlimited: “Coin & Currency Auction Only 10% BP”

Weaver Signature Coin and Currency Auction: “New Lots & Images added daily. Special emphasis on Silver Dollars. Many Key Date Coins. Classic Currency. LOW 10% Buyer Premium, 5% on Gold 1 oz or $20 Eagles.”

Compare to: “Internet Buyer’s Premium: 22 %; Sales Tax: 5.000% – Tax may apply to the total invoice, including Buyer’s Premium.”


Inexpensive shipping

Scott Auction: 100+ SILVER MORGAN & PEACE SILVER DOLLARS – 1921 & (2) 1928 KEY DATE PEACE $ – $300 X 90% & $100X 40% SILVER – MINT & PROOF SETS – COPPERS & CURRENCY + MUCH MORE w/ **********$1O SHIPPING*************

Weaver Signature Coin and Currency Page
: March Special: Buy More, Save More! Flat $9 Insured Shipping Fee with NO extra Handling Charge-No Matter How Much You Buy.

Compare to: “There will be a $5.00 shipping fee per item.”


Specials not only attract and retain bidders, but also publicize to competitors that you are doing just fine. Don’t underestimate the message that sends to clientele. When you’re confident, sellers consign and buyers bid with confidence!

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.