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 Replies: 10 / Views: 26,787 |
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New Member
United States
34 Posts |
Does anyone know why mints are stamping the word "copy" on silver rounds today? Even those that mimic known coins like the Morgan dollar, plainly state "One Troy ounce" on the reverse, instead of a denomination. Just curious. |
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Pillar of the Community
United States
8137 Posts |
I think that the hobby protection act requires it. Rounds made to look like coins are also made to look like key dates. (1895 and 1889-CC morgans, 1916-D dimes, 1916 quarters etc.) So they would stamp "copy " on them so someone does not try to pass it off as a real coin.
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New Member
 United States
34 Posts |
Interesting. I just read the act, and was not aware. Maybe some private mints were getting warned. I bought some rounds from a national bullion retailer in 2013. They were 1 ounce rounds of Morgans, Standing Liberty's, Mercury's etc, and not one of them have COPY stamped on them. Now they do.
Thanks for the info.
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Valued Member
United States
269 Posts |
A few years ago some mints were raided and all the coins/rounds that looked like they were from a Government Mint were confiscated, if they have "copy" stamped on them its ok
And then there was Norfed lol, google it if you dont know about it
Edited by Fusion555
07/11/2014 7:05 pm
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Pillar of the Community
United States
4333 Posts |
Uhhh, not one silver round that I've seen has copy stamped on it. I would avoid those like the plague.
Run, run far away.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
07/11/2014 7:40 pm
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Valued Member
United States
269 Posts |
Quote:
Uhhh, not one silver round that I've seen has copy stamped on it. I would avoid those like the plague.
Run, run far away. Oh and that lol, lotsa Fakes also have "copy" stamped on them |
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Pillar of the Community
Korea, Republic Of
1881 Posts |
Could it mean a copy of a silver round?
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Pillar of the Community
Canada
2019 Posts |
Quote:What are replica coins? Coin replicas are coins that are minted to look like an original. Although the National Coin Hobby Act states that imitation coins must contain the word "copy", coins are being produced in China without concern for the regulations. Even where the word copy is used, some coins may claim to have value they may not actually have. Some replica coins are produced so well, you have to look very closely to distinguish it is in fact, a replica. Replicas need to be distinctively different from the original however, to not be considered counterfeit. So how do you spot replica coins? Genuine United States coins will always feature the denomination of the coin like "Half-Dollar" or "Dollar". Replicas however will generally replace those words with some sort of product description like ".999 fine silver" or "giant proof". This in and of itself does not make it a bad investment; it's just letting you know it is not legal tender. Quote:
Should you avoid replica coins?
Replica coins are a dicey minefield that novices investing in physical precious metals are better served avoiding. It takes a person experienced in these replica gold coins or replica silver coins to determine any true value.
The U.S. Mint itself will not comment on the present or future value of replicas as collectibles, and in fact, defers those considering investing in them seek out the services of a trusted coin dealer. To us, that seems like very good advice.
It is better for a novice to buy gold and silver bullion or invest in numismatic coins. Bullion and numismatic coins will always at least maintain the value of their precious metal content. This will always provide a safety net of value, and for novices in particular, that safety net can be very valuable.
http://www.sbcgold.com/blog/4-reaso...plica-coins/If your buying just to stack bullion then buy American silver eagles or Canadian silver maple leafs etc, etc from reputable dealers. Edited by Northerncoins
07/11/2014 8:25 pm
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Valued Member
United States
269 Posts |
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New Member
United States
34 Posts |
Really appreciate the feedback, and what the community thinks. Before expressing my opinion, I fully understand that when buying silver rounds, you should try to do so as close to spot as possible. Aesthetics should be secondary if you're smart.
Having said that, I'm probably not too smart. After buying my first rounds in 2013, I was somewhat uninspired by the quality of the rounds. They didn't say "Copy", but they were (for lack of a better term) bland, and somewhat lacked definition. I started looking at other private mint rounds and was really impressed and happy with some St. Gaudins rounds, and some Incuse Indian rounds that were, in my estimation, well struck, and well defined. Bottom line, really nice rounds, and still very close to spot.
Now I'm seeing some rounds that I'm really interested in (2oz Buffalo/Indian rounds) that I would like to buy, but I just don't like seeing "Copy".
I know. It's bullion, and nothing more. Aesthetically speaking, I'm just not a fan.
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Moderator
 Australia
16809 Posts |
In the case of the rounds linked to by fusion555 above: it was made by National Collectors Mint. They are a mass-marketer of coins and coin-like objects, usually sold for considerably more than bullion value. And yes, they got into legal trouble a few years ago when they were selling coin-like objects that looked too much like official US government coins and medals and/or their marketing insinuated that they were official government products when they were not. In that case, it was 9-11 "commemoratives" in 2004 and again in 2011. NY Post article on the 2011 lawsuit. They have also issued "coins" claiming to be legal tender in the Northern Mariana Islands, a US dependency that does not have the right to issue its own coinage. Example discussed in an older thread. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Replies: 10 / Views: 26,787 |
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Posted 07/11/2014 6:37 pm
