| Author |
 Replies: 16 / Views: 3,964 |
Page 2 of 2
|
|
|
|
Valued Member
 South Africa
169 Posts |
You are so right, I was thinking maybe a good idea is to take a letter punch and stamp the letter"F" on one side of these coins, thereby branding them for life.
|
|
Valued Member
United States
420 Posts |
according to the hobby protection act, all must be stamped copy on the obverse or reverse of the coin... your son's enjoying the coins, once he gets tired of them, or you "purchase" them from him.. say for 5 bucks... then take a hammer and dies to them.. F won't work IMO - only the full wording COPY would
the other choice I see is total destruction --once your son figures it out...how about a deal that you will replace the fakes with the best original coins you can find--- make it a game...or a trade - trade 1 common Peace or Morgan for all the counterfeits he bought ..
no matter which way you choose to do it, he gains true coins, and there are a few less fake ones on the market
Edited by twincam_04
08/12/2010 06:47 am
|
|
Valued Member
South Africa
169 Posts |
Thanks for the tips, however I do not have to worry about him, he is very honest and detests things like fake coins, he will destroy or mark it himself.
He has been collecting coins for a few years now and has over 1,500 coins from over the world, basically started to focus on proof sets from SA and now of late more on the ZAR series like me.
He gets a lot of coins from my collegues as in our business we travel on a regular basis all over the Europe, middle east and africa region, so I normally just ask them to bring me some change, he gets handfulls from all over for free, which is very nice.
He also buys a good portion of his allowance every month in "Investment" coins as well as focussing on the normal Numismatic Collectables.
I am so glad that I got him into collecting coins as to collecting "toys' as most kids today does. I think he is going to join this forum soon.
|
|
Valued Member
United States
376 Posts |
Sounds like you are raising a very good boy up to be an honest, respectable man.
|
|
Valued Member
United States
462 Posts |
It scares me when I see things like the lower grade counterfeit Morgan dollars. These are obvious, but I generally think of counterfeiting coins that would sell for $100 - $200 where someone would buy it but not get it authenticated. A more expensive coin someone would send in for grading and the TPG would identify it as fake. |
|
Pillar of the Community
United States
2602 Posts |
Taking fakes off the market does not really have any imnpact on the number of fakes out there. They will just make more. I would offer the opposite side- to not support the folks who are making the fakes (even if it is clear they are making them and they say they are fakes)- you are supporting the wrong part of the hobby, in my opinion. Don't buy fakes.
Use the money to buy reference books on detecting fakes, especially of key date coins!
|
|
Pillar of the Community
 United States
2448 Posts |
Wow, did not know that. Time to get the dies & hammer! Thanks! I like the idea of a reference collection also.
|
|
Bedrock of the Community
United States
12437 Posts |
Hi Zarboy, two questions for you- what is the mintmark on the 1971 Eisenhower Dollar(between bust and date)? Do the 1795 and 1797 Bust Dollars have reeding? Quote:
according to the hobby protection act, all must be stamped copy on the obverse or reverse of the coin The Hobby Protection Act does not apply at all, the "coins" were purchased in Dubai and the poster is from South Africa |
|
Moderator
 United States
23522 Posts |
Quote:
according to the hobby protection act, all must be stamped copy on the obverse or reverse of the coin... your son's enjoying the coins, once he gets tired of them, or you "purchase" them from him.. say for 5 bucks... then take a hammer and dies to them.. F won't work IMO - only the full wording COPY would Keep in mind, that's a US law, and Zarboy does not live in the US.  I strongly concur with the idea of a reference set. No real need to start stamping stuff if you don't wish, unless the law under which you live requires such for fake coins. Do not liquidate them - destroy them if you no longer wish to keep them around. |
|
Pillar of the Community
United States
3076 Posts |
I don't know if marking them helps at this point, there are fakes out there with no words "COPY" On them... Its better if you find them to show them as the are so others can see them as they are......
|
|
Valued Member
South Africa
169 Posts |
Hi biokemist6.
The mintmark on the IKE is a "S".
Yes, the coins have reeding on them too.
Does anybody think that any of these are real?.
As far as I know some of these are very scarce so I would think "Not Real".
|
|
Valued Member
United States
314 Posts |
They are not REAL, IMO. If so, it would be interesting to note how they got to a Saudi Arabian market without having been stolen from someone's collection and then fenced. The weights don't even come close to either matching the weights for a draped bust dollar (26.96 grams) or half dollar (13.48 grams). The Ike should weigh in at 24.59 grams and the Morgan and Peace dollars at 26.73 grams. Very poor strikes also. I do like all of the ideas that have been posted on the forum regarding what to do with them. At the very least, pounding Fake or "COPY" into both the obverse and reverse is needed. Congrats on the lessons that you are teaching your son. Great Job! |
|
Bedrock of the Community
United States
12437 Posts |
Zarboy, I was curious about the mintmark because of this recent post about a 1974-S Ike that was too light for a 40% silver coin. I asked about reeding on the 1795 and 1797 because these coins were struck on open collar screw presses so they were not reeded, they had lettered edges instead, and that is one of the best signs of a counterfeit from that era. |
|
Valued Member
South Africa
169 Posts |
Thanks Biokemist6. That clears up a lot of things in my mind.  |
|
Valued Member
United States
380 Posts |
If you havent seen it already, you will realize that pulling out counterfeits is like pulling 1 penny out of circulation. There are MILLIONS AND MILLIONS of counterfeit coins. Read this thread and realize how 1 counterfeiting ring can produce thousands per day. Look at the dies, they are good quality. It is amazing something like this can go on without some intervention. http://coins.about.com/od/worldcoin...-Minting.htm |
|
Page 2 of 2
|
Replies: 16 / Views: 3,964 |
Page 2 of 2
|
First Page
Posted 08/12/2010 06:45 am
