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Date: Fri, 20 Jan 2012 15:38:59 -0000
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From: "colonialjohn" <johnmenc@optonline.net>
Subject: Re: Coin World : E-Bay : Good Bye Contemporary Counterfeits
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PNG President Jeffrey Bernberg enthusiastically endorsed eBay's decision. J=
eff - ever purchase a Machin Mills piece listed in the Red Book?
--- In colonial-coins@yahoogroups.com, "colonialjohn" <johnmenc@...> wrote:
>
> Ban on sales of replicas starts on eBay Feb. 20
>=20
> By Paul Gilkes-Coin World Staff | Jan. 19, 2012 12:00 p.m.=20
> Article first published in Web Content, Market Updates section of Coin Wo=
rld=20
>=20
> Effective Feb. 20, eBay will prohibit the sale of replicas of U.S., world=
and other historic coins into the U.S. market on eBay.com.
>=20
> Officials of eBay formally announced Jan. 18 that the firm's major policy=
change in the coins category represents the online auction company's commi=
tment to improve the buying, selling and collecting experience on eBay, inc=
luding reviewing listings that may violate eBay policy prohibiting counterf=
eit coins.
>=20
> As part of the policy update, new listings and relistings will be prohibi=
ted beginning Feb. 20; listings will be permitted through Feb. 19. Listings=
that are still open on Feb. 20 will be allowed to run out to their closing=
dates.
>=20
> The policy change extends to replicas marked COPY as required under provi=
sions of the Hobby Protection Act. The policy change also extends to contem=
porary counterfeits of U.S. coins produced to circulate alongside genuine i=
ssues. The policy does not exclude the sale of paper money replicas.
>=20
> The policy change follows a number of meetings and discussions between of=
ficials of both eBay and the Professional Numismatists Guild.
>=20
> As part of its collaboration with PNG, eBay officials anticipate establis=
hing a program to better educate collectors about the PNG and its trusted m=
ember-dealers, and to ensure the coin experience on eBay meets industry sta=
ndards.
>=20
> Officials of eBay made a brief presentation about the proposed policy cha=
nge Jan. 4 during a PNG members-only meeting held in conjunction with the F=
lorida United Numismatists convention in Orlando.
>=20
> Gresham's Law : When the government reduced the amount of copper in the p=
ennies it produced, we saw that bad money drives out good; everyone saved c=
opper pennies and only spent the less pure ones. Ever since cheap, flimsy f=
urniture began to be manufactured in large quantities, it has been very dif=
ficult to find solid, well-made furniture. Bad craftsmanship, like bad mone=
y, drives out good.
>=20
> In this case Chinese imports drove out the good: CC8R Sheffields, Blacksm=
iths, Machin Mills, Kleeberg CC2Rs, etc.
>=20
> "The policy change also extends to contemporary counterfeits of U.S. coin=
s produced to circulate alongside genuine issues."
>=20
> Like you said Mayhugh ... just need to sell them as regals ... and let th=
e experts keep trading ... its going to really hurt in SEARCHING for these =
pieces in foreign venues. This extends all the way BACK to Libyan coins ...
>
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