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 Replies: 11 / Views: 1,305 |
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New Member
United States
2 Posts |
Thank you for permiting me to request everyone's insight. In short, I have a coin that I can not seem to account for given my research so far. But frankly I know next to nothing about coins. I am a history geek and only gather coins in that context.
2 years ago I was in China. I bought lots of various coins. Most of them the almost worthless coins of assorted Chinese warlords. Others were interesting ones from different colonial mints. But in this bag of "junk" coins, I found a old U.S. silver dollar. I knew that old U.S. coin often have some value, so I have tried to discover what I have. From my research so far it would seem that I am holding a Seated Libert Dollar minted in 1840 at the New Orleans mint. This is fine other than I can't find anything that says such a coin was ever made! From what I understand the only Seated Liberty minted in 1840 where in Philly, but this coind very clearly says 1840 and O under the eagle.
What could I be missing to explain this? Can anyone suggest a good resoarse to pursue this some more?
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Pillar of the Community
United States
751 Posts |
Hi, Ethan, welcome. One of the moderators will be around shortly to give you a proper welcome, I imagine. What you are missing that explains this is that all US coins from China are fake. Alright, that's a bit over-broad. All are suspect--most are fake. How's that? Sorry, I hope you still get some enjoyment out of your purchase. I should add that it is not unusual to see fakes of coins that never existed. Trade dollars from the wrong year, for instance. Edited by texasmick
02/10/2007 11:52 pm
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Moderator
 United States
23522 Posts |
Welcome to Coin Community, ethan. I cannot add anything to texasmick's explanation - he's absolutely right. China is the main source of counterfeit coinage, and they don't bother holding themselves to coins which were actually minted when they do counterfeits.
Worse, they're beginning to get pretty good at it, or at least some of them are.
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New Member
 United States
2 Posts |
Well that is the most logical explaination. It was the first thing that I though of as well. I only questioned it due to the circumstance. It wasn't presented as anything special it just in bag with a bunch of others clearly worthless coins, that I purchased for pennies. It seemed a curious amount of effort to fake and then sell for nothing?
I suppose given the nihl investment it has been worthwhile just as a learning adventure! Thank you for your insight!
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Pillar of the Community
United States
882 Posts |
Don't feel bad, ethan. Your not the only one with fake coins. Many people make the mistake of buying from China. But usually they don't do it twice.
Ty
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Rest in Peace
United States
3730 Posts |
Hi Ethan, Welcome to the forum.
There is nothing I can add really. China is notorious for counterfeit coins.
One possibility however: Lots of people collect counterfeits!!
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Pillar of the Community
United States
1840 Posts |
Don't think that just because it is a fake that it isn't worth anything. Some fakes can actually hold significant value, particularly the older ones.
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Pillar of the Community
United States
2269 Posts |
Welcome to the forum Ethan.
Part of the success of this forum is the knowledge we have shared with one another. Before I came to this forum I was also unaware of the amount of fakes that have been pouring out of China. I'm glad that you only spent a couple of pennies for that dollar.
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Forum Mom
United States
5877 Posts |
Welcome to our CC family, Ethan!  I'm glad that you didn't spend a lot of money for this "coin". Many of the counterfeits coming out of China do have some silver content, though, so this would add some value to your purchase. |
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Bedrock of the Community
United States
20753 Posts |
True there are counterfeit coin collectors out there. Not only that but as already noted some are worth a substantial amount of money if properly made. Some if excessively poorly made will also bring a decent amount of money. I've seen a Silver Dollar with spelled Selfer Dollar sell for more than you could imagine. From china there are so many items now flooding the markets you really have to be carefull of anything you buy. I just got messed up with a scale made in china that was supposed to be accurate to .001Grams. It was not even accurage to 1Gram. At Walmart I wouldn't be surprized if even the cash registers are made in China. |
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Bedrock of the Community
United States
14454 Posts |
as you have already been told there are counterfeit collectors out there that do collect these things but the ones they usually collect are the ones that were in circulation along side of the originals not the ones that were made for the sole purpose of faking out collectors as the piece you have
Edited by Bryan1315
02/11/2007 7:29 pm
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Pillar of the Community
United States
5362 Posts |
Hi Ethan - welcome to the forum.
I am one of the guys who collects counterfeit coins intentionally.
This part of numismatics is not too well documented but it is as complex and interesting as any other area of the hobby. As has been said, by several members above - counterfeits run from worthless to nearly priceless. (That's a bit of an exaggeration.) But you get the point.
The older counterfeits made to circulate along side the originals as money are as a class the best. The modern copies as a class are the least valuable, but still have some value.
The 1840 O you have is a well known Chinese Fantasy coin. They are usually cast in pot metal and are of minimal value. The sell for $1 to $4 in the Chinese markets (retail). I suspect that your coin was relegated to some collector's junk pile after they were defrauded. It then found it's way into a cheap box lot - just where it belongs.
But there are some newer Chinese counterfeits made of silver - so always check the metal content.
In the 1820s and 1830s, gold coins were often counterfeited using Platinum. Those are rare and worth a substantial amount of money.
If you want more information or if you become interested in this part of the hobby drop me a line - I always enjoy trying to help people understand counterfeits.
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Replies: 11 / Views: 1,305 |
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Posted 02/11/2007 12:01 am
