counterfeit silver dollars

[fistfulladirt]

Well, I'm a bit uneasy regarding posts about counterfiet silver Morgan dollars. I recently bought a dozen (boullion) and wonder if anyone knows what to watch for as far as clues to counterfiet coin.
I did buy from a dealer with a long standing business in my locale.

Thanks, AMC

 

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[jim4silver]

Well, I'm a bit uneasy regarding posts about counterfiet silver Morgan dollars. I recently bought a dozen (boullion) and wonder if anyone knows what to watch for as far as clues to counterfiet coin.
I did buy from a dealer with a long standing business in my locale.

Thanks, AMC

If the coins you bought look circulated and are toned, then you are probably OK from what I have seen regarding the Chinese counterfeits. Although they do produce counterfeits that appear worn and circulated for certain older and rarer coins (to make them appear genuine, like trade dollars, etc.), the pictures I have seen of counterfeit Morgans show that the coins appear shiny and new. There are lots of shiny and new looking genuine Morgans that were stashed in vaults for years, so that alone is not a sign of a counterfeit. Learn the proper weight and dimensions of coins you like to purchase, and purchase books that show what to look for regarding counterfeits, etc. It is easier to spot fakes this way with gold than silver due to the specific weight of gold which is quite unique, but with practice you should be able to learn to spot fakes with silver coins too. Stay off ebay for starters (just my opinion in that I have read there are some fakes and counterfeits being peddled there), and stick to reputable coin dealers.

Jim

 

[Silver_Fox]

The ones I saw were magnetic.

 

[jim4silver]

The ones I saw were magnetic.

Probably a clue that they could be fake. LOL!!


Jim

 

[Michael Vegas Pennies]

magnetic is a great test... check weight/specific gravity also.

look for things that should make the coin unique. if all 12 have the same cud mark, or the same indentation, that tends to indicate a counterfeit... also the lettering on real coins have sharp edges, fakes typically have rounded edges where the lettering is raised... just some things to look for when you're trying to determine if its real.

the PCGS has a book on grading coins you can get a borders that has a section on counterfeit coins and addresses what to look for in morgan dollars....

 

[golden silver]

Yeah, when I was a beginner I started on ebay and made a beginner mistake seeing A trade dollar for a great price I bid high on it and then researched it. Turned out that the coin date was a year before they even started minting trade dollars. I was pissed and wrote the guy and called him out on trying to sell counterfeit coins on ebay. He played dumb as is he was an amateur that did not know any better but I told him that that was on him to know what he was selling and to withdraw my bid immediatley, which he did. Lots of fakes from ebay. Always read everything about the item, look at the history before you bid and NEVER AND I MEAN NEVER BUY ANY ITEM FROM CHINA. It is just like here we pay through the nose for items like pottery at bed bath and beyond for some peice of crap that cost a couple of bucks to make in China. Americans don't even realize they are buying garbage.

-golden silver

 

[Silver_Fox]

Yeah, when I was a beginner I started on ebay and made a beginner mistake seeing A trade dollar for a great price I bid high on it and then researched it. Turned out that the coin date was a year before they even started minting trade dollars.

A buddy of mine got stung on about 6 of those a month ago...at a swap meet.......

 

[jewelerdave]

There are several ways to check.

1. Magnet, a good one,
2. Weight, if they are too light for the size and off spec...its a fake!
3. Shallow details. Too much ware and simulation, most of these are nickel copper alloy. But when toned can look like silver, the same alloy is used to make jewelry called ALPACA looks silver...but its not.
4. The tell tale way to tell a counterfeit, check the reeded edge, if it does not look quite right, Its not, this is the only way to tell some $2.5dollar and $5 gold piece fakes. If you check a pile of them side by side and they are a bit off of eachother...fakes. The dies and collars are different on quite a few of them.

A few years back when these fakes where hitting the market from China i was buying up as many as I could, Call it abuse of the system but It was the right thing to do, I got a bunch, paid for them via paypal, then when I got the fakes, Notified Ebay and paypal and got a %100 refund on my money for the goods. I figured it was ok to screw over a counterfeiter and scam artist, Kept the dog from getting money for the things. May have helped slow it down.
either way, I processed them as is my policy with fakes and there was not a bit of silver in them, all copper nickel alloy, SO BE CAREFUL! Not even the silver value.

Below is a picture of some of the Gold coins I recently destroyed, I did not think to take any pics of the fake trade dollars but these gold coins look and are gold and are perfect said for a few things. The Chop Marks are my doing to show the owner that yes they were destroyed, they were then processed in Aqua Regia and dissolved forever, and are now in wedding rings
things to know.
1. The reeding was off, not the same type of cut as a US coin.
2. They were a bit too clean and shiny, hard to tell, and you had to have them next to a regular issue coin to see the difference, But they were dies that were just a little too polished.
Other than that, it was a direct transfer die that was AMAZING! with out 15x magnification, you could not tell. A grading company can tell however, So watch out on lose gold US $5 and $2.5 coins. But the good news is the size, alloy and weight are perfect and dead on.
The only reason I can think for doing this is money laundering at a profit, as you can always pull a premium on older coins, the thing is, none of them I have found so far are of rare issue, they are all common date as to not bring much attention.

In any case, if you ever come across a counterfeit coin, yes it sucks, but do the responsible thing and destroy it or have it destroyed, you can wright it off on your taxes if you pay them. The last thing you should do is pass it off on someone else, because that liability can come back to haunt you.