Coles' latest collectables craze has taken a sinister turn with some sellers trying to offload fraudulent figurines.

It's sparked a warning to anyone willing to spend cash on rare Stikeez that if it seems too good to be true, it probably is.

Coles has cashed in on the collectables craze with its mini fruit and veg figurines.

The golden banana is the most coveted of them all - there’s only 100 in circulation.

One recently sold for $20,000, but collectors are being warned to make sure they’re not spending big for fool’s gold.

Retail analyst Barry Urquhart said that in all three incarnations of the Stikeez promotion dodgy behaviour has arisen very quickly.

Coles says every real golden banana comes with a certificate of authenticity.