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Thread: Counterfeit Coins- Not Just Silver Dollars Anymore- This is bad...

  1. #1

    Default Counterfeit Coins- Not Just Silver Dollars Anymore- This is bad...

    Just a word to the wise, and a friendly reminder to all because I hate to see anyone get taken... Most of the fake/counterfeit coins coming out (of various countries, but chiefly one in particular- we all know who that is) can still be detected by a trained, experienced eye, but unfortunately the counterfeiters are getting much better at it and they're even producing smaller denomination coins like half cents through half dimes through commemorative half dollars as well as bullion which obviously, many here are already aware of. It used to be that they'd relegate themselves to faking larger coins like Dollar coins, Trade dollars and 8 Reales, etc..., but not anymore. A lot of forum members here know to *Check the Weight* of any potential purchase and ping a coin, etc..., but some of these newer batch of fakes could and would fool the uninitiated, newer stackers and collectors and not everyone has an XRF machine. Sometimes they even get the weights correct or within tolerances. Every stacker here should also know the difference between what a brass/other "golden colored", fake gold coin and a real gold coin looks like, because as we all know they've been faking those for a long time now too

    So some things to strongly consider, because they're often telltale signs, would be:

    1) To check the lettering and date on the coin- make sure it's uniform and representative of what a genuine coin would look like. Compare them closely and side-by-side and look for
    differences
    2) Look for a grainy finish- almost as if it's been sandblasted- they do this in an obvious attempt to make things look old
    3) Check for that "dirty look"- again, an attempt to make things look older than they really are. In the open fields of the coin it may look "cleaner" or shiny like it's been worn a bit, but
    within the devices/lettering/design, it'll look dirty.
    4) If you're an experienced/advanced collector, check for known die markers, tooling marks and diagnostics which will help determine if it's authentic or not or take to a trusted LCS
    5) The neodymium magnet test is an obvious one, but they're now also using white and/or gold colored metals with no precious metal content that looks similar to the real thing AND also
    aren't magnetic. This test will catch some, but not all fakes
    6) A lot of the time, the details of the coin will look mushy as if there's honest wear on the coin. Question everything when you see this or any of the above.
    7) Properly acid test it if you can. If it's genuine, it shouldn't hurt the coin, but you'll know right away if it's a fake because it should eat right through the plating, if there even is any.
    8) Impaired luster or no luster- for obvious reasons
    9) They're even faking the 2x2 cardboard holders and writing dates or old "prices" on them. They're usually beaten up a bit or worn. Again more deception. If you see a bunch of older
    looking coins coming in in "blister packs", beware again
    10) Nearly "impossible" fantasy coins like the 1964 Peace dollar or other extremely rare coins which shouldn't even exist in numbers found in the general public
    11) Every original, genuine coin will have "flow lines" when you magnify it closely enough. This goes hand in hand with the "cartwheel effect" and genuine luster on silver dollars
    12) Mistakes such as the date running into the rim of the coin. This is extremely rare occurrence and should always be questioned
    13) The wrong metal being used for the coin such as an aluminum Indian Head cent or a silver half dollar being made out of nickel
    14) Surface quality- Pitting and/or raised blemishes/pimples on a coin. There's a huge difference between these and a "ding" or scratch or contact mark on a coin. This is a very good sign
    that something is amiss and you should run, not walk away

    So, my public service announcement is hereby finished. I'd just hate to see someone lose out to the damn liars and thieves and the old adage is always in effect- Buyer Beware!

    I forgot to mention to be extremely careful of buying coins off of eBay, Etsy, Wish or any of the other sites where coins are counterfeited- especially when you can feel or see or examine the coin in your hand and you're relying on someone's photograph and/or poor lighting and camera angles to determine authenticity
    Last edited by bronkster1967; 06-29-2021 at 10:33 AM.

  2. #2

    Default

    be MORE caution selling coins off ebay.
    in any dispute, ebay side with the buyer.

    ex.
    buy a real gold coin
    register complain to ebay that the coin is fake
    return a fake gold coin to seller
    get the refund.
    ebay close dispute.
    buyer gets a free goid coin, easiest and surest way to stack gold known to man.
    Last edited by yellowsnow; 06-29-2021 at 12:44 PM.

  3. #3

    Default

    Counterfeiting should still be a capital offense.
    "It's the lure of easy money - It's got a very strong appeal." - Glenn Frey (The Smuggler's Blues)

    "A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned." - Thomas Jefferson

  4. #4

    Default

    Quote Originally Posted by yellowsnow View Post
    be MORE caution selling coins off ebay.
    in any dispute, ebay side with the buyer.

    ex.
    buy a real gold coin
    register complain to ebay that the coin is fake
    return a fake gold coin to seller
    get the refund.
    ebay close dispute.
    buyer gets a free goid coin, easiest and surest way to stack gold known to man.
    Yup. It's an effective scam that's reasonably hard to prove. That's exactly why I will never sell a coin on eBay.

  5. #5

    Default

    Quote Originally Posted by LeadHead View Post
    Counterfeiting should still be a capital offense.
    I definitely do not disagree with you there. It's an insidious form of theft and should be treated as such since it most often hurts the regular guy AKA the average person more than any government entity.

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