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 Replies: 11 / Views: 2,139 |
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New Member
United States
16 Posts |
I have the opportunity to buy a 1914 gold Indian $2.5 I am rather new to collecting gold coins and am always weary of buy loose gold. Is there a way to spot fake gold coins in person?
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Pillar of the Community
 United States
8938 Posts |
Buy slabbed gold, I'm 100% serious.
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Pillar of the Community
United States
1005 Posts |
Easiest way is to weigh the coin and check diameter and thickness. Gold density is not easily replicated with the exception of tungsten which is not practical to make into fake coins.
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Pillar of the Community
United States
4469 Posts |
There is no easy way or quick fix to spot gold fake coins for the beginning collector. It is a tough series to detect counterfeits as a lot of the fake $2.50 Indians are made from real gold.
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Bedrock of the Community
13014 Posts |
Quote:
Easiest way is to weigh the coin and check diameter and thickness. Gold density is not easily replicated with the exception of tungsten which is not practical to make into fake coins. Many fake old gold coins are made of actual gold. Quote:
Buy slabbed gold, I'm 100% serious. This 100 percent |
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Pillar of the Community
United States
8938 Posts |
The reason I say buy slabbed is for me, if I have a milimeter of doubt, I go slabbed. It's not that I don't trust myself, but a second opinion is always nice.
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Pillar of the Community
United States
5825 Posts |
ALL US coins that I buy are slabbed. And I stick to PCGS and NGC. I don't buy many 20th century coins and none after 1964. And all my 20th century coins are MS. I have a birth year set (1941) that is either MS-65 or -66. My type set goes through 1964 so I have a bunch of 20th century coins there. And my IHC set ends in 1909. I have a non-US version of my birth year set but they are mostly inexpensive raw coins. One exception is my birth year British Maundy set; it's slabbed.
Edited by kanga
08/12/2019 08:45 am
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Rest in Peace
United States
17900 Posts |
$2.5 IHG are one of the MOST faked coins according to NGC and PCGS both.
I'd SCREAM for the 100%.
It is EXTREMELY rare to get an amazing buy on coins until you've had a lot of guidance, books, and experience.
There will always be more neat coins to buy than money to buy with.
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Bedrock of the Community
United States
17884 Posts |
Lots of ways but how successfult they will be depends on how well done the fake is. If you are looking for somerule or trike that will let you spot any fake gold coin, sorry it doesn't exist.
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Pillar of the Community
United States
9792 Posts |
Quote:
There is no easy way or quick fix to spot gold fake coins for the beginning collector. It is a tough series to detect counterfeits as a lot of the fake $2.50 Indians are made from real gold. Quote:
$2.5 IHG are one of the MOST faked coins according to NGC and PCGS both. Quote:
It is EXTREMELY rare to get an amazing buy on coins until you've had a lot of guidance, books, and experience.  with each statement above! You won't find a "deal" on gold coins, why not? Because why would someone sell them at a discount from what they could get by taking them to a local gold buyer? That's not smart. I have a friend that can pick out a fake gold $20 out of a pile and get it right 98% of the time, though he has years, and years of experience looking at them and has worked in the past for PCGS as a grader then finalizer, before leaving to start another TPG. He learned because he saw literally thousands of gold double eagles every day. His advice on coins now brings big money in itself as a consultant. You can't learn to spot gold coins from a book or online alone, you really need lots of hands on experience with many, many coins. The advice given so far is good here. Buy from reputable dealers only, buy slabbed coins form reputable dealers only, just a slabbed coin alone isn't good enough anymore, too many fake slabs out there on the internet and places like Craig's list, Etsy, etc. Find a good dealer befriend them and learn, learn, learn. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Pillar of the Community
United States
1613 Posts |
Heed the grading advice. Also, check the website and match the slab number for added authenticity. The number of counterfeit/tampered slabs is on the rise. Finally, stick to the top names. PCGS, NGC, ANACS.
ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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Pillar of the Community
United States
1378 Posts |
Are you buying from a known reputable dealer? If not, if you know someone who has many years under the belt in dealing with gold coins...Bring them along when purchasing. If possible, ask to take some pictures and post them here. If the person disagrees with that, then you may want to pass on it.
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Replies: 11 / Views: 2,139 |
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Posted 08/11/2019 10:38 pm
