Yes ! Fake padlocks. There are many padlocks that are worth considerable amounts of money, some of which are faked - these however are quite well known amongst experienced collectors. But the main problem are the large qtys of padlocks coming out of India that are catching out collectors new to locks, many of these 'fantasy' locks have applied brass plates with the names of US prisions, armaments factories and asylums etc. They all tend to have 1 thing in common - 2 keys. If you think about it how often do you find a lock with any keys at all, let alone 2 ? A good rule of thumb is to look at other listings when considering a lock for your collection, very often such a lock will have been listed in the recent past, or even at the same time - which hardly rings true for a rare item does it ?
There is a lot more information on the net on this subject, and a few minutes with google can save you trouble later ..