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Discussion: Fake Peace Dollar With 4% Gold And 37% Silver!?

 
 
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New Member

Singapore
4 Posts
 Posted 10/09/2019  02:53 am Show Profile   Bookmark this topic Add JP00023 to your friends list Get a Link to this Message
Hi Friends,

I purchased this Peace dollar from a reputable online retailer in the States as an AU silver dollar. It is a definite fake because it is magnetic but strangely it has some 4% gold content when tested with an XRF machines (in two different machines, photos attached). I understand that XRF only tells the composition on the surface, but a specific density test shows that it is as dense (~10.3g/cm3) as a genuine Peace dollar - with a very high Nickel content (density ~8.9g/cm3, less than 10.3g/cm3), it will need a high % of something that is as dense as gold. So I think the 4% - 7% of gold shown in the XRF results could mean that this Peace dollar does have this much of gold content on average.

However, the real question I have is why use real gold in making a counterfeit Peace dollar? One possible explanation is that this piece is meant to sell as a gold plated Peace dollar. However, a non key-date gold plated Peace dollar doesn't sell for much (~$40 on eBay?). I am not sure how much a thin layer of gold plate will cost, but since it is already a counterfeit, instead of using gold plate, why doesn't the counterfeiter use copper plate?

While it is not the lowest quality fakes out there, this coin is overweight (~27.05g) and it is magnetic, which gives it away very easily. Also notice that the coin has about 37% silver (again only sure only on the surface). Why use silver in making this coin? Does it worth the efforts for an non key date? Especially in a coin that is relatively easy to tell it's fake?

Now I have a wild story about this coin - totally imaginary. In 1933, the US made it illegal to own gold. In order to avoid having to give up their gold coins, one wealthy individual started to privately mint Peace dollars (illegally) with gold (and balance it with other metals) - basically enabling him to hide his gold on the privately minted Peace dollars. Most of these coins were melted after the gold ownership ban is lifted, and this one somehow got into circulation.

Would love to hear about your thoughts guys. Thanks.


A closer shot of the coin - the coin is "laminated" - not sure if this is the correct word, but it is basically covered by a very thin layer of plastic:


This coin seems to "fool" the PMV machine somehow too:


A second XRF test:
Pillar of the Community
Canada
2722 Posts
 Posted 10/09/2019  06:17 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
@JP00023, that is strange indeed. Gold plating is VERY thin, a few milligrams on a plated coin. I am not sure why someone would make fake Peace dollars with gold. It would have been easier to bury the gold coins for later recovery.

If it is 4-7% gold, it is worth more for the gold content than the silver.
Bedrock of the Community
United States
17449 Posts
 Posted 10/09/2019  07:36 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
If it can be weighed as correct it may have been produced to be passed in commerce and may be a contemporary counterfeit.

Is there a metal plate, then a plastic plating over that?
New Member
Singapore
4 Posts
 Posted 10/09/2019  08:19 am  Show Profile   Bookmark this reply Add JP00023 to your friends list Get a Link to this Reply
@oriole Thanks.. You have a good point - it is cheaper to just bury the gold, or to make some jewelry out of it as I believe gold jewelry ownership was legal.
New Member
Singapore
4 Posts
 Posted 10/09/2019  08:27 am  Show Profile   Bookmark this reply Add JP00023 to your friends list Get a Link to this Reply
@moxking Thanks.. The weight is over, it is 27.05g, so I was quite surprised it pass the test at the online retailer which is very reputable. It is also magnetic, and it doesn't ping.

The plastic layer feels like protective in nature. When I receive the coin the plastic on the reverse was half broken (which is shown on the picture). On the obverse, the plastic is intact.
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Pillar of the Community
Canada
522 Posts
 Posted 10/09/2019  3:31 pm  Show Profile   Bookmark this reply Add GMS5 to your friends list Get a Link to this Reply
New Member
Singapore
4 Posts
 Posted 10/09/2019  10:54 pm  Show Profile   Bookmark this reply Add JP00023 to your friends list Get a Link to this Reply
@jbuck thanks!
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