Warning on Presidential Coin Error (SCAM ALERT)

[secondcup]

Hello everyone,

I just wanted to share what I recently read (and experienced) regarding the new Presidential Dollar "smooth rim" error, where the incuse lettering on the edge is missing. Although I'm sure there are many legitimate examples for sale on on-line auction sites, some people have taken to grinding off the edge lettering and passing the coin off as a legitimate error.

There was a letter published in the latest issue of Coin World from a reader regaring this, and I myself was a "victim" of the scam.

I purchased a "smooth rim" coin from a seller on eBay, and when I recieved it, I realized somthing was off. The seller claimed it came uncirculated from a bank, but the surfaces of the coin were obviously handled, with bits of black "crud" on the obverse. But the big red flag was raised when I examined the edge. There was no lettering, but the color of the edge was not a uniform gold color, but it appeared that the copper clad center was exposed. (Picture the edge of an oreo cookie with gold outer "cookies" and a copper center).

I returned the coin on the basis that it was not uncirculted as the seller advertised. I never mentioned that I thought it was altered, but now that I'm reading other accounts of this, I think people should be wary of altered coins.

sc

 

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[Coinkid]

It might have been circulated as you stated, but the coins from these error coins from the Philly Mint do show the copper core on the edge. The edges also seem to be a little rough, as opposed to completely smooth.

 

[jglunt]

Does anyone know if the diameter of the error coins is the same as the non-error ones? If it is, then it seems like it's just a simple matter of measuring one against the other to see if material has been erroneously removed.

Jim

 

[Cerulean]

The presidential dollars use the same planchetts as the Sacagaweas. The copper core is clearly visible on the edges of older Sacs, now that they've had time for the copper to tarnish. We're not seeing it now because the shiny new copper looks like the gold-colored cladding.

The previous poster is probably right... a filed faux Godless dollar will be more easily detected through reduced diameter or weight.

 

[secondcup]

Yes, that was also the case with my coin. When held up to a Pres. dollar with the edge lettering, it appeared to be smaller in diameter. If I had calipers, I could have confirmed.

sc

 

[secondcup]

Just as an update for anyone interested:

The latest issue of Coin World has an article about this subject. Grading services have been seeing altered edge coins, and the article explains how to tell the difference between an authentic coin and an altered one.

Be careful out there!



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