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 Replies: 18 / Views: 3,664 |
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Valued Member
United States
50 Posts |
Okay fellow coin lovers! I have a question that I hope some of you can help me with. I have just purchased a Dansco Morgan dollar album and I am looking forward to starting the album. I have searched online the cost of Morgans in the form of AU/BU condition from various website like APMEX, Provident, Golden Eagle, ebay, and Valley Coins. However, I have come to the conclusion that I could save a lot of money purchasing from ebay but I am concerned about the risk of purchasing a fake. So, my questions are as follow: 1. How flooded is the market with fakes? 2. How do you spot a fake Morgan? 3. Would you purchase from other places rather than ebay? 4. If I was going to purchase from ebay, would it be a good idea to post the bid on Coin Forum for review before purchasing? Thanks and I look forward to seeing ya'lls response! |
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Pillar of the Community
United States
564 Posts |
The quickest way is to put it on a scale. If something doesn't look "right" don't buy it. I have had good luck with ebay but there is always a chance... |
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Rest in Peace
United States
7075 Posts |
I don't have any real experience but there are some threads here that ask just that question. Somebody will post a photo and ask if it is a fake or not. Look at those and see if you can learn to spot the difference. It doesn't seem to be very easy -- at least not to me. And if you do decide to buy from ebay, you could always ask here first before you bid. You might miss an opportunity if you don't get answers fast enough, but better that than spending hundreds on a fake. Also, stay away from any sales that say 'no returns'. I don't know if that is always a bad sign, but if you can't tell if it's a fake from the photos, you're better off waiting. |
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Pillar of the Community
United States
1796 Posts |
1) Fake Morgans are ubiquitous. And I mean REALLY. 2) I just finished writing this primer on identifying counterfeits yesterday (all I need to do is finish the common weights chart): http://fakes.numismetrica.com/ident...ounterfeits/Following those criteria you will catch 99% of fakes currently on the market. 3) ebay is hit or miss (granted, more hit than miss). Your best bet is to find a reputable coin dealer locally. 4) Feel free to post. :-) We'll all take a peek. (I also forgot yo say: Welcome. :-) ) Edited by SteveCaruso
03/21/2012 10:06 pm
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Pillar of the Community
United States
526 Posts |
Provident Metals is always a good place to buy AU/BU Morgans and Peace dollars. On E-Bay you always run the risk of a wiped coin, Provident does not do that and their prices are cheaper than E-bay. |
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Pillar of the Community
United States
1510 Posts |
they stick to a magnet (when and if) you get it
Retired USAF 1983-2003
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Bedrock of the Community
United States
17884 Posts |
Quote:
2) I just finished writing this primer on identifying counterfeits yesterday (all I need to do is finish the common weights chart): Make sure you include the allowed tolerance range on your weight chart. You get a lot of people worrying about having bought a fake simply because the weight isn't exactly right on the official listed weight. |
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Moderator
 United States
23522 Posts |
Many Morgan counterfeits are plainly obvious. Some....not so much. All of the published "rules" about identifying fake Morgans tend to only apply to the obvious ones, and that's the problem. The only way to consistently nail a fake Morgan is to see enough good ones (and fake ones) so the subtle problems jump out at you. On ebay, this is complicated by the varying quality of the photography. And if you're doing enough traffic in Morgans, being an "expert" means you don't miss many, not that you catch them all. Understanding ebay auctions themselves will help. Many counterfeits are sold through hijacked accounts by people for whom English is a second (at best) language, and odd grammar from a purportedly US-based seller is a warning sign. This is to be differentiated from an honest seller who simply didn't do well in grammar school, and you'll need to know those differences. It's this simple: Knowledge is King, and 100% isn't a realistic goal for the greatest among us. Patience and the willingness to pass if there's the slightest doubt in your mind are required virtues. |
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Valued Member
United States
132 Posts |
A scale is helpful, as is a magnet in my identification. Having a few slabbed coins also cant hurt for comparison. If you're smart on ebay, I would assume you'd only buy from someone with great feedback and with many sales. It doesn't hurt to have "rules" either. If the pictures are too small, extremely blurred, dimly light etc... Do not buy from them. Just my 2 cents! I think its a great idea to post the coin you're about to purchase on ebay on this forum! -Dan |
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Rest in Peace
United States
2668 Posts |
Great article, SteveCaruso. I'm not sure I would slide a magnet down the surface of any Morgan though. Welcome, jcd390, you're asking the right questions at the right place!  |
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Pillar of the Community
United States
1796 Posts |
@Parklane64 - Thanks :-) The diamagnetism test (provided you do have the right kind of magnet; a strong neodymium) will also work through a plastic flip or a bit of overhead projector film, which will leave the Morgan unmolested.
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Valued Member
United States
132 Posts |
None of my coins are bare, they're in SAFlips inside of pages in a binder, so there's no surface to surface contact with the magnet and the coin.
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Pillar of the Community
United States
863 Posts |
If you are just starting your collection if recommend local pawn shops and flea markets. They are cheaper than ebay and you get to see the physical coin |
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Valued Member
United States
58 Posts |
@Coinstar - are you saying that coins from provident metals stick to magnets?
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Rest in Peace
United States
9104 Posts |
 , jcd390! |
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Pillar of the Community
United States
648 Posts |
jcd390 Yes many tests for counterfeits including high power magnets. The effect SteveCaruso's primer mentions (slow fall), is do to Lenz's Law not diamagnetism (although silver is very diamagnetic too) Nice link/site Thank You Steve  The following from hyperphysics.phy-astr.gsu.edu/hbase/electric/farlaw.html Quote:
When an emf is generated by a change in magnetic flux according to Faraday's Law, the polarity of the induced emf is such that it produces a current whose magnetic field opposes the change which produces it. The induced magnetic field inside any loop of wire always acts to keep the magnetic flux in the loop constant. In the examples below, if the B field is increasing, the induced field acts in opposition to it. If it is decreasing, the induced field acts in the direction of the applied field to try to keep it constant.
Silver is the best room temperature conductor known. Silver coins are in effect many loops of wire. The magnet induces a field (opposite pole )that slows down the fall of the magnet. Our company uses this effect in our TrueField Detective TM patent pending line of counterfeit detectors.TFD's can easily tell the new super alloys from China (nonmagnetic, proper weight) from real Morgan dollar coins. Harmlessly and through slabs edit for credit  hyperphysics.phy-astr.gsu.edu/hbase/electric/farlaw.html Edited by tokenmast
03/28/2012 05:10 am
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Replies: 18 / Views: 3,664 |
Posted 03/21/2012 9:57 pm
