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 Replies: 10 / Views: 1,438 |
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Valued Member
United States
106 Posts |
Counterfeit ... hmmmmm.....another worry....
What does a collector do to protect themselves?
A really valuable coin would be make it worth while to take great pains (professionally) to replicate it...scary thought....
How good are ancient mint records? Ans: No one really knows...all we possess is what was recorded...
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Bedrock of the Community
United States
17884 Posts |
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What does a collector do to protect themselves? Study and learn as much as possible. Or abandon knowledge and just pin one's faith on others knowledge and hope they know what they are talking about. (And even the "experts" will be wrong sometimes.) |
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CCF Sponsor
United States
702 Posts |
Ah, the advent of TPGs...
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Pillar of the Community
United States
6130 Posts |
99% of fake coins are flawed in a way that makes them possible to certify as fake. Typically, genuine coins are altered by hand, or the coins are cast fakes of varying quality. A good reference material and accurate scale are all that you really need to tell for sure. The other 1% are the world-class fakes that can stump even the professionals who work for TPGs. The only example I can think of off the top of my head is the controversial 1959 Wheat cent "mule"--it is either an amazingly high quality fake made from perfect fake dies, or a genuine error. At any rate, all high price coins should be approached with caution. |
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Pillar of the Community
United Kingdom
856 Posts |
Study your collecting field, know (and talk to) your fellow collectors, aim to buy coins with proven provenance.
Good records of sales of coins that interest you are useful too. (I have over 1600 photographic records of the type of coins I collect with details. Additionally I collect illustrated auction sales catalogues. Then if I see a coin that I like I can check if it has been sold before, when it sold and by whom and for how much. One coin I have tracked back through seven previous owners to a collection that was sold in 1913)
Of course, there are no absolute guarantees, but the above can all help IMHO ...
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Forum Dad
 United States
24154 Posts |
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99% of fake coins are flawed in a way that makes them possible to certify as fake. That is an impossible percentage for anyone to know. |
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Rest in Peace
United States
4078 Posts |
You answered your on question, Quote:
How good are ancient mint records? Ans: No one really knows...all we possess is what was recorded...  |
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Pillar of the Community
United States
2815 Posts |
I have protected myself by actually buying counterfeits and studying them, especially Morgan dollars. I've gained a lot of knowledge by having these in my own hand to study. Not everyone supports the purchasing of fakes, but if it's for your education I think it's ok. |
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Bedrock of the Community
United States
20753 Posts |
Some fakes are really good and difficult to detect even by professionals. I met a dealer that said he was in the business for over 40 years. He purchased a 1916D Mercury dime from someone, sent it in to a TPGS and it came back as fake. He then sent it to another TPGS and it came back slabbed and graded. At a flea market a dealer had a bunch of coins for sale and really cheap prices. A friend of mine purchased a few of the Silver Dollars, took them to some jewelers and they all said was real Silver. He then tried some coin dealers at a coin show and all said FAKE. This counterfeiting stuff is a real problem with this hobby. You really don't know. |
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Moderator
United States
188213 Posts |
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Not everyone supports the purchasing of fakes, but if it's for your education I think it's ok. It is okay if you are aware it is fake when buying and do not intend to deceive when selling. |
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Bedrock of the Community
United States
17884 Posts |
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, or the coins are cast fakes of varying quality. A good reference material and accurate scale are all that you really need to tell for sure. This was true maybe 20 years ago but today the vast majority of counterfeits are die struck not cast. And while weights are ofte still off the fakers are getting better at approaching proper weights, especially for coins where the value of the coin is significantly higher than the metal value. We aren't taking abut the "world class" fakes either. They have also begun to realize that there is good money in faking the more common coins. Less profit per coin, but they are able to move more of them due to less scrutiny. |
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Replies: 10 / Views: 1,438 |
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Posted 07/14/2015 2:47 pm
