Counterfeit Morgans - What Should I Do With Them?

I'd suggest the 1st order of business would be to disfigure them in some noticeable way so that they cannot fool collectors down the line.

Thanks for sharing your story. Counterfeit sellers using a fake U.S. address appears to be an increasingly common ploy to gain confidence of buyers.

I knew before you stated it, that it was a case of a hacked inactive seller account. The sad thing is that the risk is calculated and they just pump out as many as they can until the account gets tagged, then keep all the money and move on to another vulnerable account to repeat the process.

Anywho, like others, I would mark these to indicate they are fakes/copies. That way, no one else gets fooled down the line. Personally, I would keep at least one for comparison purposes.

I think it is still worth a try.

If all else fails, just carl has the right idea.

I would like ONE of these Morgan dollars.

At least twice a year, I make a presentation to my local club and another club (100 miles away) on fake or altered coins.

To make money. They probably cost them less than $2 apiece to make, and they can crank them out at 60 per minute. That represents almost $1,100 a minute or $65,000 an hour being produced by a worker earning $10 a day. (Even wholesaling them out at $5 each that's still $15,000 an hour. What kind or an hourly wage do you need?) Sure they could just as easily make the rare expensive coins and make more per coin, but it is a heck of a lot easier to sell 50 $20 coins that most people aren't going to pay that much attention to or inspect closely, than it is to sell one $1,000 coin that is goint toget close scrutiny every time you try and sell one. The counterfeiters probably make more money on the low to moderate priced coins than they do on the expensive ones simply because they can sell so many more of them.

Conder, your numbers certainly make sense. It just boggles my mind that there would be enough collector demand to absorb such a large production. I speculated that maybe Chinese people were buying them as bullion, assuming they can afford them, but then I remembered the Chinese Panda made of unalloyed silver. I could then speculate that maybe the counterfeit Morgans could be popular in rural areas and small towns where Pandas are not so easy to get, but I have no facts to support that speculation. So, for me, it is one of those "Believe it or Not" situations.
It sure is a shame there are people who rip other people off.

There is NO appreciable amount of silver in these. For all intents and purposes there is none.