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How Big A Problem Are "Fakes" With Peace Dollars

 
 
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Valued Member

United States
309 Posts
 Posted 04/22/2017  07:50 am Show Profile   Check einstem's eBay Listings Bookmark this topic Add einstem to your friends list Get a Link to this Message
I am a fairly "newbie" with coin collecting.
Right now, have been focusing on more of the "modern" coins, such as Presidential dollars, State Quarters, Roosevelt dimes, and Proof Sets.

I am thinking of starting a "Franklin Set" to get into some bigger (and silver!) coins, as well as possibly a starter " Peace dollar" set.

I haven't really had to worry about "Fakes" for any of the coins sets I have been collecting so far, but are "fakes" more of an issue with " Peace dollars" ?

Would it be better to stick with slabbed coins for Peace dollars (even though it will boost the price) to make the chance of fakes much, much less?

Right now, I have no issues buying coins for my current sets at local coins shows or even on eBay since the coin values aren't really high enough to warrant people making 'Fakes'. Or so I hope at least!

How big an issue are "Fakes" for Peace dollars on eBay?

Also, I go to some Local Coin Shows and a few local coin stores, how "safe" would it be buying "unslabbed" Peace dollars from there?

Thanks.

Michael
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United States
606 Posts
 Posted 04/22/2017  08:11 am  Show Profile   Bookmark this reply Add flag4 to your friends list Get a Link to this Reply
Peace dollar set is a great idea. Just use common sense when making your purchases. Your far less likely to come across a fake than you would be with the Morgan series. Have a digital scale on hand to verify weight, and a small magnet to do the "silver slide". Be familiar with the features of the coin, the devices, the date and mint mark placements. You'll be fine . .
Pillar of the Community
United States
1608 Posts
 Posted 04/22/2017  09:22 am  Show Profile   Bookmark this reply Add RoyCoinBoy to your friends list Get a Link to this Reply
Any series has its fakes. Just use a scale, a magnet, and a brain when purchasing.
Bedrock of the Community
10197 Posts
 Posted 04/22/2017  1:43 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
Check especially the key date/low mintage coins...1921P, 1924S, 1927P, 1927S. And especially the 1928P, even a true Peace has been modified by removing the "S" mintmark on the common 1928S to pass it off as a 1928P...very common practice among scammers.
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United States
1102 Posts
 Posted 04/22/2017  8:31 pm  Show Profile   Bookmark this reply Add LibertyEagle20 to your friends list Get a Link to this Reply
The big problem I've found with buying uncertified online are cleaned coins. For some reason a lot of them appear to have been cleaned over the years so a TPG reduces the chance of getting one like that.
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United States
7385 Posts
 Posted 04/24/2017  10:14 am  Show Profile   Bookmark this reply Add Cascade to your friends list Get a Link to this Reply
The last 2 posts are the big things to watch out for. Many 28s's out there modified to mimic 28p's. And Peace dollars as a series are plauged with minor hairline cleanings.
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United States
1281 Posts
 Posted 04/24/2017  8:20 pm  Show Profile   Bookmark this reply Add Chute72 to your friends list Get a Link to this Reply
At 72% of authentic weight, this coin is a phony as Dolly Parton's... ummm... hair!


Valued Member
126 Posts
 Posted 05/09/2017  06:57 am  Show Profile   Bookmark this reply Add MerlinAurelius to your friends list Get a Link to this Reply
I only buy slabbed Peace dollars and any other coin Chinese cockroaches might fake
Valued Member
United States
309 Posts
 Posted 05/09/2017  11:37 am  Show Profile   Check einstem's eBay Listings Bookmark this reply Add einstem to your friends list Get a Link to this Reply
For the Peace dollars, I think that is the route I am going to go..

Just too much risk otherwise, and getting slabbed from a reputable dealer/store will eliminate the risk..

For my other less valuable coin sets, I would only get slabbed for critical/expensive 'key date' type coins... but the Peace dollars sound like there is just a lot of "fakes" floating around...

Michael
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