| Author |
 Replies: 21 / Views: 3,442 |
Page 2 of 2
|
|
|
|
New Member
 United States
14 Posts |
Thanks. Either way, he will pay me back. I don't believe he knows these are fakes. His intentions are to pay me back and for me to hold these until it's paid. I'll let him know after he pays me back, LOL. I was curious because there are duplicate years for rare ones and found that quite unusual. 4-1844's, 2-1795's, 2-1802's, 2-1886-CC's and 2-1899-CC's. Didn't CC close down in 1896?
|
|
New Member
United States
14 Posts |
I'll try. Is it illegal to have and sell counterfeits?
|
|
Pillar of the Community
United States
3843 Posts |
Quote:
Didn't CC close down in 1896? According to the Wikipedia article on the Carson City Mint the last U.S. coin produced there was in 1893 so those 1899-CCs have to be fantasy pieces. Here is a website on fakes that might be of interest. It is operated by a longtime member of this forum. http://fakes.numismetrica.com/ |
|
New Member
United States
14 Posts |
Not possible with this cheap camera. Even in the dark or when I cover the flash. I'm more than sure these are fakes. But thanks anyways.
|
|
Pillar of the Community
United States
3843 Posts |
Quote:
Is it illegal to have and sell counterfeits? According to Numismetrica [Linked Above]: Quote:
In the United States it is perfectly legal to own counterfeits, provided you have no intent to defraud someone with them. [18 U.S.C. Chapter 25 § 485] and [18 U.S.C. Chapter 25 § 490] |
|
Pillar of the Community
United States
2543 Posts |
Also no such thing as a 1886 CC Morgan the mint was closed in late 1885 and not reopened until late 1889. Hence the rarity of both those dates.
|
|
New Member
United States
14 Posts |
Wow,interesting stuff. I'd hate to break his heart. He really believes these are real. Is there a market for these when I do break the news to him. Really good work put into these things. The giveaways are the Ellis Island dollars with an 0 placed over what appears to be a grind down 8. Why were these done to make them appear to be 1906 when these were only made in 1986?
|
|
Pillar of the Community
United States
1704 Posts |
He gave you 20 fakes for collateral on a $200.00 loan so that means he probably knows these coins are not genuine. He is taking advantage of your lack of knowledge of these coins. Fortunately, you were curious enough to try and determine what these coins' true value is. As novelty pieces they are worth less than $10.00 each. I would take them back to him and tell him he needs to give you something else worth at least $200.00 for the collateral of that loan. Also get the loan terms in writing and set a due date for the repayment of the loan. Now that you have these coins there is a very good chance he will give up the coins for the money he "borrowed."
|
|
Pillar of the Community
United States
589 Posts |
18 USC 485 Quote:
Whoever falsely makes, forges, or counterfeits any coin or bar in resemblance or similitude of any coin of a denomination higher than 5 cents or any gold or silver bar coined or stamped at any mint or assay office of the United States, or in resemblance or similitude of any foreign gold or silver coin current in the United States or in actual use and circulation as money within the United States; or
Whoever passes, utters, publishes, sells, possesses, or brings into the United States any false, forged, or counterfeit coin or bar, knowing the same to be false, forged, or counterfeit, with intent to defraud any body politic or corporate, or any person, or attempts the commission of any offense described in this paragraphâ€"
Shall be fined under this title or imprisoned not more than fifteen years, or both. If you friend knew they were counterfeit, which it sounds like he should (he's trying to use 20 as collateral for a 200 loan...junk silver dollars should have rendered 10 for a 200 loan), plus he's given you "rare" years, mint marks, etc (even though some of them are impossibilities), it all looks like he should know they are fake...thus, he might have committed a 15 year (probably) felony. |
|
Pillar of the Community
United States
1192 Posts |
I'm wondering about the ages of the two parties. There are a chance he's just a young collector with no idea about what he has and may have been misled by who ever sold him the pieces. I could see him buying them for $20 apiece over time and then thinking they were worth atleast that.
While $200 seems like a huge loan for a kid, it's not for most adults. I'm pretty sure I could sell counterfeits of thousand dollar coins for just a few dollars to a kid and them not even question it even if they knew the worth of the coin. Now a uneducated child collector would be even worse. Never underestimate a greed of a child lol
Edited by Bertensgrad
11/25/2014 12:50 am
|
|
Pillar of the Community
United States
3343 Posts |
I don't believe for half a second that the US Government is going to put anyone in jail for selling counterfeit coins unless they're circulating coins. Even then Treasury has enough on their plate keeping up with counterfeit currency.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
New Member
United States
14 Posts |
Thanks Gyrene for that. Yes, it comes out to $10 a coin. As an adult, I guess I should of been more suspicious but I'm not a coin collector, and I'm not familiar with key years or mint marks. I'm learning now that these are worth about $3 or less so if I try to sell these as fantasy coins i'll never get the full amount of loan money. He's away for the holiday with family so I won't see him for a week. Hopefully I can return them to him and he will give me something of equal value towards the loan. Yes thq, folks rarely if at all get punished for dealing fakes. It's the producers that they want but since it's done in China, the law won't extend that far. Thanks to all who helped me on this. Now, who's interested in "fantasy" coins? LOL!
|
|
Pillar of the Community
United States
8518 Posts |
I think you could get more than 3 bucks. They would be fun to mess with and study. I have a 1916-D Mercury dime that's a pretty good copy that I bought for 7 bucks. You're gonna have to hang around for a bit and get enough posts to sell em. Oregon coin geek.....*** GO BEAVS ! ! ! ***
|
|
New Member
United States
14 Posts |
To be honest, I would be scared to sell them without penalties. I'm sure there's a market out there for some of these. If anyone knows, let me know. The artwork is quite magnificent. Iv'e seen some crude one's and these are not. Thanks again folks.
|
|
Pillar of the Community
United States
1192 Posts |
There is a market for fakes if only for comparison purposes. A lot of dealers I visit have fake Morgan dollars and american eagles that they show people. I try to touch and fiddle with as many of the fakes as possible to get a idea. |
|
Page 2 of 2
|
Replies: 21 / Views: 3,442 |
Page 2 of 2
|
First Page
Posted 11/23/2014 9:24 pm
