It is a well-known fact in coin collecting circles that any roll of coins can be manipulated. There are methods by which someone can replace the coins in a roll with inexpensive coins and then sell the roll as a complete roll of some high-value coins.
In writing this article, my original thought was to discuss the methods by which this can be achieved, however on reflection, I thought that would likely only contribute to the distribution and significance of the problem.
Therefore, this article serves more as a warning to potential buyers and a reflection of my thoughts when I purchase a roll of expensive coins, such as the 2012 red poppy.
I will state that if someone approaches me with a roll or rolls of 2012 red poppies in a chub roll, I will not purchase these coins unless I’m able to open the roll as a condition of sale. I will not part with a single dollar until I can verify that there are in fact 25 red poppies. A roll can contain anything…as can a story told by someone selling their coins!
The only exception to this rule would be a situation in which a customer sells me multiple rolls and I’m able to choose at random a few rolls to open. In my estimation, in this case, I would be able to sell intact rolls with confidence.
The fundamental issue is that no matter how good a roll looks to me and how authentic it looks, I cannot guarantee the contents without opening it!
Additionally, as the price of these coins and others have reached astronomical levels, the risk of forgery has increased commensurately.
In my mind, it is a poor investment to purchase something that costs so much with any risk that the value is actually minimal. The reality is that the risk is too great.
I have a great fear that at some point, rolls are going to start being opened regularly with coins that are not as advertised and that many people who thought they were buying a solid investment will be thousands of dollars out of pocket, especially with rolls like the 2012 red poppy and 2013 coronation.
My advice is never to buy a roll of someone you don’t know exceedingly well. Also, purchase from a dealer with a strong reputation and ask what assurances they can give you! In essence, be very sensible with your money!
With newer rolls, RAM labelled rolls tend to be a safer bet. There is less value in them from a forgery point of view, and they have greater security features. The other option is to always buy security bags or single uncirculated coins as you can actually see the quality of the coins!
Lastly, I would like to thank you for reading this article. Please feel free to contact us at contact@ensleighcoins.com with any feedback, questions or if we can help in any other way.
1 comment
Interesting item…..I have held the long term view that coins in the Security company bags is a better choice because you can actually see what is in the bag