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 Replies: 10 / Views: 2,446 |
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Valued Member
United States
416 Posts |
New collector here - many posts about counterfeit coins has me worried. I'm working on a type set, have all the cheapos, maybe 12 types left, where even the low grade coins cost some serious bucks. Stuff like 1790s copper & silver. I know I could buy slabbed/certified, but wondering what the consensus is on low grade counterfeits, in the Fair/Good/VG range. Does anyone fake those?
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Valued Member
New Zealand
148 Posts |
It depends on rarity and value. I doubt anyone would counterfeit a common-variety 1803 Large Cent. A 1799 or an 1804, however, is a totally different story.
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Pillar of the Community
United States
911 Posts |
If there is a demand - there will be a supply - anything that you can make a profit on with a cost of $1.49 + shipping... Google copy name of coin (ie copy large cents) to see the options...
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Pillar of the Community
United States
4469 Posts |
Counterfeits come in a wide range of grades, dates, mint marks, condition and value. If I am spending over $200 on a coin, it will be purchased in a TPG holder from a reputable dealer. On some coins like a Trade dollar should be purchased in a TPG holder unless you are skilled at identifying fakes. |
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Rest in Peace
United States
18456 Posts |
The answer to your question is a big Yes . From what I understand Chinese counterfeits are a big business . I have seen a circulated common date and mint SLQ that turned out to be fake . I've always been a raw coin collector but lately as I buy keys and semi keys I'm getting them slabbed by PCGS or NGC for authenticity , not for their grade . I grade my coins my way , if it meets TPG then fine if not it gets passed up .  |
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Valued Member
 United States
416 Posts |
Thank you all for the feedback. I would've thought heavily worn coins would be hard to counterfeit, because if there were multiples of the same ones (same built-in errors, that kind of thing), they would get found out pretty quick.
As with most type set collectors (I am guessing here) I have saved the most expensive types for last, and buying slabbed obviously cranks the price up even more. If even a heavily worn coin might still be a fake, this might be the end of the road for me.
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Valued Member
United States
265 Posts |
Perhaps find a dealer at a shop or a show that you can get to know an trust. Likely you can eventually find one that regularly attends shows. That way as you get to know them and buy from them, you will learn they are trustworthy and you won't have to worry about it. Some dealers will even educate you, if you asked, about what some things are to look for when spotting fakes...they may even have one they use for educational purposes. One show I went to had a dealer with a bunch of different Trade dollars. He also had a counterfeit and was physically showing me the differences of a real and fake, all because I showed interest in learning. |
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Valued Member
United States
150 Posts |
I haven't seen too many low grade counterfeits, but I'm more or less collecting only the flying eagle series/varieties. I also collect the counterfeits as I come across them, and carry them with me to shows to compare. Caught a few local people selling high end fakes in the past year or two.
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Bedrock of the Community
13014 Posts |
Quote:
I would've thought heavily worn coins would be hard to counterfeit, because if there were multiples of the same ones (same built-in errors, that kind of thing), they would get found out pretty quick. It's actually easier for low grades. You can wear out any imperfections and easier again with early copper as they are used to being seen damaged and corroded. |
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Bedrock of the Community
United States
20753 Posts |
Counterfeiters will make anything they think they can make a profit on. Remember that movie about a guy that made only one dollar counterfeit bills? So yes even a fake pennie is possible today.
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Pillar of the Community
United States
1667 Posts |
I'm gonna be honest here. When you get to coins you consider high value, and you want to maintain that value and not get ripped off, you either need to learn to detect fakes or doctored/cleaned coins and what grade they are or buy them slabbed and graded by a third party. If you don't either learn how to identify "problem coins" and avoid them then a thire party graDE company and a slab is the way to go. The cheap always becomes the expensive.maybe you save $30 on a grading fee buying raw but you paid full price for that raw coin and it cost you hundreds and later down the road when you decide to sell it you find nobody wants to pay you anywhere near what you paid for it because of cleaning or any other issue. There's nothing worse than that really. It's a kind of scary step,buying your first most expensive coin and 2nd and 3rd, nobody wants to get ripped off but it happens and it happens the most to people that didn't do their homework to learn what they can before they buy or didn't want to spend an extra $30 for an outside opinion of a grader. If you are buying a used car you should either know some mechanics or take it to a mechanic and have it checked over and ask for his honest opinion. Generally speaking a reputable local dealer won't steer you wrong although he or she might overgrade it.its ebay and online sales where the most landmines of problem coins and counterfeits exist. Edited by Big-Kingdom
04/13/2019 09:36 am
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Replies: 10 / Views: 2,446 |
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Posted 04/12/2019 01:17 am
