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 Replies: 12 / Views: 2,490 |
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New Member
United States
25 Posts |
While doing an inventory of my coins today, I happened to pull out a magnet and run it over all of my silver coins,and one of my Peace dollars stuck like crazy.  The left one did not stick and the right one did! This came as a huge disappointment to me, I have heard how there is china counterfeits coins out there and never thought I would end up with one of them. Luckily I only paid a dollar for each one of them  from my local bank a couple months ago     Edited by mikey199x
07/07/2012 6:45 pm
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Bedrock of the Community
13014 Posts |
Sorry to hear that, one the bright side it was only a dollar
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Valued Member
United States
238 Posts |
how did the bank get the Peace dollars? Still a good deal if one is real! |
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Pillar of the Community
United States
8517 Posts |
Wow, do you know what it weighs ?
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Pillar of the Community
United States
759 Posts |
A 1922 Peace dollar?!?!?!? That's scary. The prevalence of counterfeits has and will continue to do serious harm to this past time. Yes, I know educating oneself is key, but not everybody is going to be as hard core as is needed or buy only TPG coins (which isn't 100% either) and beginners or novices burned just once very well could be done with things. Rant over, for now. |
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Moderator
 United States
15454 Posts |
Yipes ... that is scary! The 1922 Peace dollar is a common coin (relatively) ... and the photos of your example appear to show a coin that would fool most of us ... Although the image of it hanging on edge to the magnet is quite conclusive.  This hobby is heading to big trouble when counterfeit 1922 Peace dollars are floating out there. Thanks for the informative post. David |
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Bedrock of the Community
United States
36782 Posts |
The first indication is color, second is rim. This one looks like a 22-S obverse rim and not sharp like a 22-P. China is making every date silver coin now, even common dates. Check any you buy closely. They sell for $2-3 out of China so the buyers here make a decent profit when selling common Peace dollars at $25-30. |
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Pillar of the Community
United States
619 Posts |
That's a good copy, but the color is definitely off. Thankfully you didn't pay much for it.
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Moderator
United States
188770 Posts |
Ouch.  |
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Valued Member
United States
344 Posts |
That is scary. I would have been fooled. I wonder what my B & M guy would think if I brought a magnet in and ran it over any coins I was thinking of buying?
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Pillar of the Community
United States
759 Posts |
Your B&M guy should not only be OK with that, but he should welcome and invite the opportunity to occur in front of whoever happens to be in the store. It's something he should have already done and it's something that could educate bystanders and help the hobby. How he actually feels about it may be another story though.
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Valued Member
Egypt
139 Posts |
Sorry to hear that, but at least the other one is real. I wish I can buy Peace dollars for just $1 dollar. I would buy a thousand of them :) |
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Pillar of the Community
United States
1796 Posts |
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Replies: 12 / Views: 2,490 |
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Posted 07/07/2012 7:09 pm
