A Swiss Commemorative Coin 1936 5f

I am not joking - I am concerned it could be a numismatic forgery. The coin shows what I would classify as an incorrect polish on the edge of the die face where it meets the collar die on the struck coin. Looks like lathing marks on the top of the raised rim. The graded examples all show a different looking surfacing method.

I of course can not be certain from a photograph but it clearly looks different.

The cost is 14 Euros which is $14.75 US today. The coin has a higher catalog value ($40 or so) suggesting you got a bargain price. That is also always suspicious. Mintage was only 130,000 coins. So the coin is not in high demand but would be a variety that the average collector might expect to see. It is not MS nor is it a coin that would be graded. It is therefore a coin I would expect to see as a numismatic forgery.

A genuine coin contains only 0.402 oz of silver which has a melt value of $15.70 per ounce so the coin itself has a melt value of $6.31. Now presuming the coin uses the correct alloy which might actually be somewhat short - the profit over melt is $8.44 which more than pays for fabrication with a very healthy profit margin.

The most successful forgers work on targets just like this coin. Coins that are low interest - high but not MS grades - small mintage coins priced at spot or at least well below book value. They become quick purchases that will be put aside not graded.

When I was a kid Francis Henning's nickels were still circulating. The margin on a 5 cent coin was just a couple cents on the nickel - but it was enough. Too many people today view exorbitant profits as being necessary to support forgery. It is just not true.

Henry - I agree a cautious approach is best. I would not be surprised to find that the coin was genuine or counterfeit. I am simply advising caution with this one.