What Is This?

It's amazing the crap coins they are producing in China, but a shocking amount of very realistic stuff too! I saw a Peace dollar dated 1830 or something. It was so stupid!

Mike

It costs them almost nothing... labor is dirt cheap, and the pot-metal they cast these things out of is even cheaper. They probably don't even have a quarter invested in each one they produce. That's far more profit than most legal products earn.

On this one, the reverse is definitely the give-away (along with the dull gray color). Two big things.
Compared to a real Ike, the feathers of the upper wing have very high relief, but have lousy definition and detail. They also seem a bit too wide.

Second, the lettering in the UNITED STATES OF AMERICA legend isn't nearly as regular and precise as it should be. Consider that somebody took a negative cast of a real coin coin in order to make a mold for this. The fine lettering, with its hard edges, did not transfer well to the mold media, so someone had to re-etch the lettering by hand to make it show up, and you'll see that this is exactly what happened here- the lines on the letters vary in thickness, and the edges are not sharp. A lot of fakes are like this- in particular, lettering that is engraved into a banner (like the LIBERTY on headbands, or lettering on a scroll) seems to give them a lot of trouble, since it needs to be raised up out of the void in the negative.