Author Topic: Rewrapped Pandas  (Read 31255 times)

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Offline Pandaguy

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Rewrapped Pandas
« on: August 15, 2010, 05:14:41 PM »
ONCE AGAIN, This popular and supposedly "reputable" seller from China is selling rewrapped in WRONG mint wrapper, high-priced Pandas. He should know better!!!!!.  >:(

1984 1oz silver panda - eBay (item 250677904084 end time Aug-08-10 07:04:14 PDT)  

« Last Edit: August 16, 2010, 05:32:26 PM by Pandaguy »

Offline pecus

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Re: Rewrapped Pandas
« Reply #1 on: August 15, 2010, 07:02:42 PM »
Could you identify what aspect of the pouch seems inauthentic?

Offline Pandaguy

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Re: Rewrapped Pandas
« Reply #2 on: August 15, 2010, 07:22:47 PM »
This Panda was REWRAPPED in Shenyang mint vinyl wrapper. Maybe someone can copy and paste a photo in the Forum for all to see before it disappears from ebay. 1983-1985 silver Panda Proofs were manufactured only at Shanghai Mint and are in Shanghai Mint vinyl pouches which have a different identifying pattern on the outside edges of the wrapper. This rewrapping business can be an indication that the coin was previously submitted for grading and received a low grade. The owner/dealer then decided it would be more profitable to REWRAP and sell as untouched "raw" sealed coin. In my opinion, this is a very unscrupulous and unethical business practice. Some sellers may be unknowingly selling these rewrapped coins, however, some others know exactly what they are doing in order to turn a buck! Moral of the story--buyer beware and educated in all facets!!!!

Offline PandaCollector

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Re: Rewrapped Pandas
« Reply #3 on: August 15, 2010, 07:55:15 PM »
Here is a photo of a 1983 silver Panda in the correct plastic pouch. I have also saved a full copy of the eBay page for reference if it is needed.



Best wishes,
Peter Anthony
http://www.pandacollector.com/
« Last Edit: August 15, 2010, 07:58:29 PM by PandaCollector »

Offline Pandaguy

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Re: Rewrapped Pandas
« Reply #4 on: August 15, 2010, 07:58:40 PM »
RIGHT-ON Peter.  :thumbup: Thank you for posting photo.

Offline PandaOrLunar

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Re: Rewrapped Pandas
« Reply #5 on: August 15, 2010, 08:18:20 PM »
Have you contacted this "reputable" seller for an explanation?

PandaOrLunar

Offline badon

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Re: Rewrapped Pandas
« Reply #6 on: August 15, 2010, 09:11:43 PM »
I have always had good dealings with this seller, since 2004 or 2005. I have defended this seller in the past. The extra few dollars that can be earned from faking the wrapping isn't worth the damage it can do to overall business. I have heard rumors of this happening before, but I hadn't seen it myself, so I ignored it.

Offline Pandaguy

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Re: Rewrapped Pandas
« Reply #7 on: August 15, 2010, 09:18:47 PM »
Well, the proof if definitely here for all to see. As I mentioned before, this is not the first time I have noticed this seller dealing in rewrapped coins. I just got fed up with buyers being unknowingly deceived. My only intention is to educate others so that they do not get burned. By the way, I have seen other big-name Panda sellers doing the rewrap gig.  >:(

Offline badon

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Re: Rewrapped Pandas
« Reply #8 on: August 15, 2010, 09:26:10 PM »
I have heard other reputable sellers say they've WATCHED some of these sellers forging the fake packaging. I just took it with a grain of salt in case it was just competition-bashing...but, it looks like it's true. I'm glad I don't pay extra for original packaging anymore. I used to, and I got burned a few times, but I'm not sure whether the seller was even aware or not, since I wasn't myself. Either way, all my coins have been sent to NGC, so the packaging is trash anyway as far as I'm concerned. How could you even tell the difference if it was done correctly?

That leads to another good question - this seller should know what the correct packaging is - so did he use the wrong packaging on purpose for some reason?

Offline Pandaguy

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Re: Rewrapped Pandas
« Reply #9 on: August 15, 2010, 10:38:29 PM »
I was of the opinion that 2006 and newer 1 ounce silver Pandas were only encapsulated and did NOT have the outside vinyl pouch. This 2009 Panda photo is from the same seller. I happened to save it from an auction several months ago. Does he have a sealing machine or what??? Either some of these 2009s were double-sealed or this guy has a sealing machine. Go figure.....


 

Offline pecus

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Re: Rewrapped Pandas
« Reply #10 on: August 15, 2010, 10:41:22 PM »
Great work Pandaguy.  Distrubing story, since more than a few of us have trusted this dealer for some time.  It would be great to get his response to your story.                                                                 

Offline larrydreher

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Re: Rewrapped Pandas
« Reply #11 on: August 16, 2010, 04:34:22 PM »
I was of the opinion that 2006 and newer 1 ounce silver Pandas were only encapsulated and did NOT have the outside vinyl pouch. This 2009 Panda photo is from the same seller. I happened to save it from an auction several months ago. Does he have a sealing machine or what??? Either some of these 2009s were double-sealed or this guy has a sealing machine. Go figure.....

I don't know about this particular auction but on some others the seller has clearly stated that the pandas were resealed for buyer convience.  Some buyers like the newer panda coins to be in sheets to match the older ones.

Offline Pandaguy

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Re: Rewrapped Pandas
« Reply #12 on: August 16, 2010, 05:25:53 PM »
The possibility that he may have gotten hold of a sealing machine that exactly duplicates the original mint seal(s), is downright scary. By the way, I have NEVER seen a statement in any auction indicating "that the pandas were resealed for buyer convenience". If that statement has appeared, the seller really means, "that they were sealed in order to deceive the buyer by misrepresenting the coins as original, raw, mint-sealed"! No matter what, deception (resealing) is totally unethical, cheating, and stealing; perpetrated by the seller unto the unknowing and trusting buyer! I believe that most others would agree. This seller deserves absolutely no defense for this deed.  :cursing:
« Last Edit: August 16, 2010, 05:51:02 PM by Pandaguy »

Offline badon

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Re: Rewrapped Pandas
« Reply #13 on: August 16, 2010, 05:49:16 PM »
I think a lot of people liked this seller and are just trying to make sense of this disappointment.

Offline elaine 1970

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Re: Rewrapped Pandas
« Reply #14 on: August 17, 2010, 12:32:29 AM »
yes.  i like the chinese silver panda being double sealed.  that is the way it should be.  capsule it and sealed it.  this is to prevent dealers cheating.