Over £108,000 In Fake Gold Sovereigns! - Lawrence Chard
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- čas přidán 11. 04. 2024
- During this video CEO Lawrence Chard talks about our 'Black Museum' of fake gold sovereigns.
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This was highly insightful and educational, Lawrence. Mercifully I've never come across a fake sovereign. Thank you for sharing.
how do you know? I had no idea that dealers were selling them on without noticing. Now I'm wondering if I have any dodgy ones!
@@samdunn717 If you are ever worried about any possible fake sovereigns, please don't hesitate to book an appointment with us! Even if you're not local, we've heard Blackpool is nice around this time of year 😄
Chards in Blackpool are the destination for us as mere plebs and my super rich bosses who trust these guys implicitly and their expertise and their access to the exquisite !
Thank you for that great feedback. We do try hard to be the best, and we never consider anybody to be "mere plebs".
Well may be so, but when you ring them to buy a gold coin from them, their staff can never give you price, nothing is ever priced, you ring them back, and they still have not got a price, they don't take a bank or credit card over the phone so I have to send a cheque, and for them to clear, chards really do need to get their act together, I do wonder if Mr chard knows about all of this, and what is going on.
@@philippayne4951 It is untrue that "nothing is ever priced". We have many thousands of priced coins on our website. At any one time, we also have thousands of coins which are not yet on our site, and a few hundred which are in stock, but shown as "ask" because they are not yet graded, priced, or photographed. We are always happy to help with special requests, but understandably these get handled after we have dealt with live orders and purchases. We choose not to accept credit cards, and some of this dates back to the days when banks and card companies used to charge commissions ranging from 4% to over 7%. We do not take debit card payments by telephone to avoid errors and fraud, although, as you know, we do accept them via secure payment links. Nowadays, most people use bank transfers, and this is our preferred payment method. Although cheque use has almost died out, we still accept them. We also still accept cash in sterling and some other currencies, subject to legal limits to counter money laundering. So, yes, I know most of what is "going on" even though I no longer work 80 hours per week.
first time watching these videos and love that man, youre children are lucky to have you Lawrence.
I sell to the same dealer from which i purchase. Just let them try telling me a coin is fake!
More than once, I have people selling sovereigns, telling me they bought them from us. When I found sub-standards and fakes, I said "You didn't buy this/these from us", they have then admitted they bought some elsewhere!
Ive bought soverigns all my life .ive even had fakes off reputable companys that are still in business .so buyer beware check them yourself and dont trust no one
They aren’t reputable if they even sell one fake , it just shows they are sloppy and don’t give a crap about the customers
Good advice. It does require some work, effort, and education.
Well shit. I just bought one instead of an Eagle.
@@mgr2599 It is a good thing to have different coins in your portfolio! By no means are we stating that all sovereigns you will receive elsewhere will be fake!
Out of 2000 sovs ive had 10 fake over 40 years
I am very new to the gold scene but prefer to stick to the Britannias with the new security features.
We too like the Britannias. However, if you are ever wanting to invest in sovereigns, give us a call.
That makes sense, although you will pay slightly extra for new ones (currently about 2.5% premium), whereas pre-owned ones (our choice) are about 1.85% premium. Personally I don't think the new security features add much, although they do create an extra "variety", which also adds some interest. It may be worth noting that gold sovereigns can be bought for lower premiums than quarter ounce gold Britannias, and possess more historic and numismatic interest, IMO.
We also currently have Krugerrands at only 0.5% premium.
@@lawrencechard5914 I have used up all my spare cash now but my best buy from you was the 2023 Queen Elizabeth 0.5oz Britannias, I paid £828 and they are now being sold at £972. Hopefully the gold price doesn’t drop too much in the future.
Sorry to have to tell you, but I have seen fake Britannia's. I believe they are coming from China. Nothing today in gold bar, or coin, can be taken for granted. Also 2011 Krugerrands were found to substandard from the mint in South Africa, but if returned they will replace them. It does take years of experience to spot some fakes, and believe me, I have some very very good ones.
@@Chard1964Ltd Buying from chards is good, my only problem is they can never give you a price when buying, they promise to ring you back, they don't, they don't take a bank or credit card over the phone, they only do bank credit transfer, so you have to wait ages to get through to your bank, then you got to get chards account no, I do wish chards would get up to date. I do understand their is fraud, but providing your full name is on you bank, or credit, why are they making such a problem of it.
Hello from preston, lawrence, been up a few times but hope to be a regular in your shop.
We look forward to seeing you. Don't forget to mention you have seen us on YT.
Great video, it just shows you that scammers do exist.
They do, and more than we would like to think! Thanks for your positive feedback.
How did you acquire all the fakes?
Mainly from members of the public, including investors, who have often bought them from "reputable" dealers.
That 21ct 1911 is interesting, as the reverse appears to have been struck over an existing obverse. A fake mint error!
Well spotted. We have drafted a complentary blog / information page reflecting this video, but it also contains more detail including the "double-struck" coin you mentioned. We will add a link to it here when published.
@@lawrencechard5914 I've been showcasing mint errors on my channel, but nothing quite as exotic as that yet!
@@MrJibble Did you see the 2023 King Charles brockage sovereign we found last year? Almost certainly unique!
@@lawrencechard5914 I did, before it was on CZcams! What a great year for it, too. Not quite in the same league, but my favourite error coin is a circulating £2 coin that was struck with a triple clipped inner.
@@MrJibble "triple clipped inner"???
What about APMEX? They seem to always have a large selection of sovereigns.
As you are in the USA, then I guess Apmex would be one of your better bullion suppliers. As we are in the UK, we don't get to see many (older) coin people have bought from them. Two Apmex guys did once tell me that when they want information about various gold coins, thay use our sites for reference.
Having dealt in coins for 50 yrs i can spot a fake 400yds away in a fog 😅
Probably a lot more than £108k of gold there now!
You are quite right! We shot the video in early February, and the £108K estimate was correct at the time. Today's value is about £128K, even after the £60+ per ounce drop in spot gold over the weekend.
Def experts in the field but when i bought an 1848 sovereign, I was naively thinking it was a good investment to find i paid 100% over the value the coin was worth. At the time if i was less trusting i could of got the coin in debatably better condition for £380 , i paid £720. Its unsellable 3 years later to get my money back. Protecting investors? Not sure, gold up over 30% since purchase and still I'd make a massive loss.
There is a difference between investing in gold bullion, and collecting coins with numismatic value. There is also a cross-over area between these. My advice to coin collectors is to buy what they are interested in, and will enjoy owning, but do not primarily buy collectable coins as a financial investment. Buying and reading a few relevant books early on should also help. Your dividends would include the educational value and the pleasure from years of ownership. There is not space here, or time, to fully cover this theme, which would probably require are least one book in itself.
You made an uninformed investment choice.
People do it everyday, hardly the fault of the market....
@@darkstranger1970 I / we didn't make an uninformed investment choice. These fakes were among many purchases we as dealers knowingly bought as fakes from owners who probably had been anuware they were buying fakes in the first place.
You are not telling much why they are fake, just that some are shiny and obviously looks fake, just using the magnet on a couple of them, why not using the magnet on all of them to show why all are fake and zoom in on the others? You are not telling your customers to use magnet and weigh the coin like other youtubers do in clips. You are just telling everybody that you are the expert and everyone else is selling fake coins. Didnt see this very helpful. If you are gonna help the customers, zoom in more coins and explain how to tell if they are fake, test with magnet, weigh them. For example, if the weight is wrong, size is wrong and other signs that it is fake.
This video was not intended as a "how to distinguish fakes" guide. It was more to share the fact that we had accumulated such a quantity and value of material which I wanted to "second check" before we scrapped most of it. When it came round to shooting time, I had to decide where to start. Almost every coin could have featured in its own video, but as each video is more than one days work, it would take too long.
I could try to do a comprehensive testing guide, and probably will do one day. Meanwhile there are already too many videos out there which describe most oif the obvious checks, such as weight and size. I rarely use a magnet to detect fake gold coins. In this video I did use one on some cheap, obvious imitations, which hardly qualify as fakes.
We do zoom in on some of our early videos, and in at least one I do explain how and why I find it so easy to detect most fakes : "Years of experience", Although this is true, most people would not find it particularly useful or helpful!
@@lawrencechard5914thanks for your reply.
Is there fakes that are so good that size is 100percent correct and weight? And they look good?
Would be intresting to sea those perfect fakes coin. If they are in right size and weight.
@@pa5482 Yes, there are some very convincing fakes out there. Mainly since the 1970s. Try a Google search for "Harry Stock fake coins".
@@pa5482 IF they were absolutely perfect, nobody would be able to tell, but try another Google search for "Bulletin on Counterfeits - Publications".
I think I have done at least one CZcams video about 1887 gold fake £2 and £5 coins. I have nightmares about them.
GOD 108.
That was rather cryptic. At first I thought it was some kind of evangelical spam, then I thought perhaps it's someone advertising a personal car registration, before it dawned on me, OMG £108K, although that was its value back in early February when we shot the video. Now it's about £128K.
The suspense is terrible, I hope it lasts
Mr chard, why do you show such obvious fakes. To anybody who collects these pieces its no problem. To anybody who cannot tell these obvious fakes, should not collect these gold coins, and if they wish to buy a gold coin, go to proper coin dealers, or bullion dealers who check their stock before buying.
When I decided to shoot some videos about our "Black Museum" coins, I had to decide where to start. Talking about every single coin would create a filibuster production. The "family" of 4 highly polished jeweller's copies struck me as amusing. Although they are obvious fakes to you and me, you would be surprised how often owners of such pieces believe they are genuine. Also, the purpose of this video was not to instruct people how to spot a fake. This would require a whole series of videos. The first coin I showed was not an obvious fake; in fact it is quite a difficult example because of the wear and tear masking many of the fine details one would usually be looking for.
If you watch today's video, you may be surprised to know that a large number of substandard sovereigns, including fakes, came from a well-known and "reputable " dealer.
@@lawrencechard5914 Mr chard, I fully understand where you are coming from, and I do also understand that there are many type fake sovereigns on the market. If any coin or bullion dealer, has sold any pieces that you have shown, then name and shame them. It is not against date protection to do, providing it is true. I worked on the Mary Gillick sovereigns from 1964 at the Royal mint, as a polisher, and if people cannot spot the sovereigns you have shown, that they are fake, they really need to go to professional coin or bullion dealers.
audiois awful
Hello, thank you for the comment, we are aware of the audio issue during this video and this has been sorted for future releases.
I'm sorry but the sound is so bad here it sounds like he has multiple speech impediments.
Thanks for the comment, as stated in our description we are aware of the audio issue and have fixed it for future videos.
Don't tell Christian, but I blame it on the Shure microphone! (in joke). Next time, we will try "my" Sennheiser.