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This 2004 Keelboat Nickle Sticks To A Magnet I'm Guessing It's A Fake?

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Valued Member
United States
50 Posts
 Posted 02/25/2020  9:23 pm  Show Profile   Bookmark this reply Add Fernagh to your friends list Get a Link to this Reply
I figured it was fake. Thanks for all your input guys.
You can move it to a different forum if you'd like to Spence thanks.
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United States
6792 Posts
 Posted 02/26/2020  05:29 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
Absolutely bogus indeed
Take a look at my other hobby ... http://www.finewoodcrafter.com
Too many hobbies .... too much work .... not enough time.
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United States
567 Posts
 Posted 02/26/2020  05:49 am  Show Profile   Bookmark this reply Add MrPink2018 to your friends list Get a Link to this Reply
wow, what a stinker.. to the artist's credit, though, it does kind of look like karl malden..
Bedrock of the Community
United States
16319 Posts
 Posted 02/26/2020  12:15 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
That is at least the third one that has shown up.
Gary Schmidt
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United States
16319 Posts
 Posted 02/26/2020  12:30 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
What strikes me the most is WHY anyone would waste the time and energy to make a fake coin that's only worth five cents

Well if you can make it for 3 cents, you make two cent on each one. Typical vertical coining press can easily strike 60 coins per minute. That is a profit of $1.20 per minute or $72 an hour. Well I know I don't make $72 an hour.
Gary Schmidt
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 Posted 02/26/2020  4:44 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Jefferson's kinda got that "I'm terribly constipated" look on his face!
Valued Member
United States
481 Posts
 Posted 02/28/2020  6:22 pm  Show Profile   Bookmark this reply Add jeffbuckes to your friends list Get a Link to this Reply

Quote:
Well if you can make it for 3 cents, you make two cent on each one. Typical vertical coining press can easily strike 60 coins per minute. That is a profit of $1.20 per minute or $72 an hour. Well I know I don't make $72 an hour.


@Conder101

Your point is well taken, but how would one dump the coins en masse...?

Coinstar and other vending machines won't take them... I'm trying to figure out the profit mechanism here.
Valued Member
United States
298 Posts
 Posted 02/28/2020  9:47 pm  Show Profile   Bookmark this reply Add DeputyMax to your friends list Get a Link to this Reply
One thing I was thinking of was perhaps these weren't made for the U.S., but to be sold to collectors in other markets. If, like you say, they can be made for 3 cents each then sold overseas to casual collectors who may not be aware of how the genuine coin looks for one or two dollars each, then it may be worth it to pump out a few thousand of these. Perhaps a few of them just happened to make their way over here and got put into circulation as an afterthought.
I never met a man I didn't like - Will Rogers
I never met a half dollar I didn't like - DeputyMax
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961 Posts
 Posted 02/29/2020  03:43 am  Show Profile   Check CalzoneManiac's eBay Listings Bookmark this reply Add CalzoneManiac to your friends list Get a Link to this Reply
It could be made for Ecuador, since they are a prolific user of U.S. currency. I've heard stories about fake Sacagawea dollars coming from over there.
Currently interested in buying 1957 and earlier Russian and Soviet coins. Let me know if you have any and we can hook up a deal!
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 Posted 02/29/2020  09:25 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Quote:
What strikes me the most is WHY anyone would waste the time and energy to make a fake coin that's only worth five cents

Simple. If you can make several million of those and place in circulation by using them to buy things, such as a candy bar or gum. Then eventually you would have saved several hundred dollars in only a few hundred years.
just carl
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