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 Replies: 28 / Views: 5,361 |
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Pillar of the Community
Canada
5255 Posts |
take them to an LCS and ask what they would pay for them.
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CCF Advertiser
United States
1533 Posts |
There were many fakes of these. They were made from melted down Saints so the metal is right. There used to be a numismatic premium on these coins, now there is none, so it hardly matters.
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Pillar of the Community
United States
4680 Posts |
I'm not the best when it comes to gold, but they have me fooled as well. Both look right to me  May be a tell tale giveaway in hand though. |
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Bedrock of the Community
Australia
21788 Posts |
TPG's will not say such coins are fake, because if they do,
the fakers will lift their game even further, to make their products even more deceptive.
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Valued Member
United States
191 Posts |
I'm confused. Please explain what is the effective difference between "fake" and "not genuine"? If a TPG designated a coin as "fake" as opposed to "not genuine", how would that make the fakers "lift their game even further"? Thanks. |
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Moderator
 United States
190135 Posts |
Yeah, that does not make sense. I think they label as "not genuine" because it sounds less pedestrian than "fake." It has nothing to do with throwing the counterfeiters off their game.
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Pillar of the Community
 United States
5687 Posts |
"Not genuine" is the same as fake. There are many high quality fakes in classic gold that are almost indistinguishable from genuine coins, so it's a real risk buying raw gold coins.
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Bedrock of the Community
United States
10284 Posts |
I think it's an interesting situation. Hopefully you are not out any real money. If these are .900 gold, then it's not a huge loss unless you paid much more than bullion. I would keep them with the "Not Genuine" flips from NGC and be glad to have them. Who wouldn't?
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Bedrock of the Community
United States
17884 Posts |
If you decide to scrp them, can I have the bodybags?
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Pillar of the Community
Canada
5404 Posts |
There is also the possibility that NGC is not right either.
Both of those , if they are not genuine are probably
From the Lebanon / Middle East counterfeits of the 1960s
Early 1970s , before it became legal to own gold in the
USA . Then you are ok as to gold content as the counterfeits
from these areas were made of real gold from GB sovereigns .
Get an XRF done if you can .
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Pillar of the Community
United States
1667 Posts |
Not Genuine just means it's not a real "coin".
Doesn't mean it's fake gold or counterfeit.
Many coins were made years ago in the middle east of 90% even 100% gold and sold in old u.s. designs.
It absolutely can be a not genuine coin and it can absolutely also be legit gold.
Can also be that 3 graders at NGC are wrong in their determination after looking at it but I doubt that.
So at this point we are worried about melt value of the gold really. I am quite sure a "we buy gold" place can determine if the gold content is there or not and don't worry aboUT the damage to find out since they aren't genuine coins with numismatic value.
Although I gotta say, no idea why they wouldn't slab them as tokens or medals if the gold content is there like they would a Daniel Carr strike.
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Pillar of the Community
United States
5687 Posts |
They may very well contain real gold, but they are still counterfeit because they were produced with the intent to deceive. There is no numismatic value, but the melt value for both may be as high as $1500 if they are 90% gold. Daniel Carr coins are fantasy pieces, not replicas of genuine coins.
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Pillar of the Community
Lebanon
506 Posts |
I didn't know that they imitated these type of coins in my country  |
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Pillar of the Community
United States
660 Posts |
Quote:
TPG's will not say such coins are fake, because if they do,
the fakers will lift their game even further, to make their products even more deceptive. I believe what sel_69l meant to say is that the TPGs will not say exactly "how" they know that a coin is fake, because if they do ... yada yada yada. |
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Pillar of the Community
United States
1840 Posts |
To me not genuine is a good catch-all as it would cover coins with altered dates and mint marks. I agree that the ambiguity does not tip their hand to potential forgers who are looking to refine their process.
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Posted 09/08/2020 5:14 pm
