California coin dealer discovers fake Krugerrand in fake holder

NGC confirms that 2005 South African coin, holder are counterfeit
By , Coin World
Published : 11/13/15
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Fullerton, Calif., dealer Dwight Manley recently discovered a fake South African gold Krugerrand coin in a fake NGC holder.

Numismatic Guaranty Corp. has confirmed that the holder and coin are both counterfeit.

Manley issued an advisory about the find on Nov. 10, calling the piece “frighteningly deceptive.”

The counterfeit quarter-ounce Krugerrand in a counterfeit NGC holder was purchased in Fullerton where Manley owns and operates Fullerton Coins & Stamps.

“A frighteningly deceptive counterfeit has been encountered, and the world needs to be told about it,” Manley said in the statement.

The firm purchased a 2005 quarter-ounce gold Krugerrand labeled Proof 70 in what was purported to be a Numismatic Guaranty Corp. holder. Not only is the coin counterfeit, but so is the holder.

The holder “has the same certification number on the label as a genuine 2005 one-quarter ounce Krugerrand listed in the NGC data base,” Manley said.

According to Manley, the fake was purchased on Oct. 23, 2015, by a knowledgeable employee of Fullerton Coins & Stamps over the counter from a semi-regular customer. 

“Before making the purchase, the employee checked the NGC website to see if the certification number and coin description matched, [and] they did.”

Manley later inspected the coin, and, “it just didn’t look quite right. I did a side-by-side, inch-by-inch comparison between the encapsulated coin the store purchased and the obverse and reverse photos on the NGC website. The reproduction of the NGC hologram on the fake is almost dead on, the same.”

There is one distinct difference between the fake and genuine holders, Manley said.

Collectors should look at the left side of the front insert label. 

"On the fake coin, the circle in the NGC logo (an encircled balance scale) goes almost entirely around the P in the grade PF 70. On the genuine coin’s label, the P is outside the logo circle,” Manley said.

“An amazing amount of effort obviously went into creating a fake coin and a fake holder with a [certificate] number and description that match a genuine coin,” said Manley. “I’ve notified NGC, but in the meantime, I caution collectors and dealers to watch out for any similar, deceitful and dangerous counterfeits.”

Max Spiegel, vice president of sales and marketing for NGC’s parent firm, Certified Collectibles Group, told Coin World by email that the firm reviewed the images provided by Manley and concluded that these images show a counterfeit coin in a counterfeit NGC holder. 

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We must expect to see examples of this with increasing frequency.
Anything one person can make, such as a coin, another person can fake.
We know that the first fake coin was made within a decade or so of the first coin, over 2,500 years ago.
I don't know, without a little research, when the first fake slab was found, so if someone can tell me, I would appreciate it.
From the inception of slabbing, I have always had some reservations about it; call it an open mind, but...
One of the dangers of slabbing, is that people, collectors and dealers alike, start to look at the capsule rather than the coin. This is, and always has been, an obvious danger. The fact that slabbing reduces the skill level needed, means that it become easier for relatively unskilled and inexperienced people to set up as dealers; some of them perhaps deluding themselves as to their level of expertise.
On a slightly different subject. One small point for CoinWorld, when I signed in to comment, your site took me to a different page, not back to this one, no problem as I could simply hit the back button twice, then refresh the page. Klang! It wanted me to sing in again. After doing this three times, I tried a different route, searching for "fake Krugerrand". You really should fix this bit of bad web design!
Thanks for the comment and for alerting us to the problems you experienced in adding your comment. Our tech team is looking at the issue. William T. Gibbs, Managing Editor, Coin World
I am going to go out on a limb here and guess this is another fake from China.

Why do American coin dealers and certification agencies deal in Chinese coins. As long as China sells fakes here - we should boycott all coins including the panda that are made in China. I do not buy any Chinese coins whether bullion, ancient, or moderns out of principle.