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 Replies: 12 / Views: 1,535 |
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New Member
United States
5 Posts |
I'm not really a coin collector (although my interest has certainly been piqued as of late), but I've been wanting to buy an authentic 8 reales pillar (not bust) style coin for my son, who has an interest in American colonial history. However, after reading some online information, including here on this site, the fact that this coin has been widely counterfeited makes this seem like a risky venture for someone who hasn't thoroughly studied this particular coin, including handling in person such coins known to be authentic. These days, with Covid-19, it's not like I can go to a coin show in person, and the only two coin shops in my area don't have such expertise (they are really only handling US minted coins).
Is there any realistic way of buying, with a very high level of confidence, a coin that is known to be authentic? I imagine most would say to go to a trusted dealer with expertise in this coin, but how does one vet the online dealers, or for that matter, local dealers, if I were to find one with this knowledge? Or is there another channel for me to consider?
I know that buying a graded coin adds a level of confidence, but it seems that at least some collectors aren't so sure about that either. Also, if I could buy a non-graded authentic coin, he could display it in another manner - propping up a slabbed coin for display purposes isn't exactly what I have in mind (I planned to make him a display for the coin). Would I be nuts to buy a graded coin and remove it from the slab? (I doubt that he will be selling the coin anytime soon, if ever).
Any assistance is greatly appreciated. Edited by Badgers
09/18/2020 5:02 pm
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Moderator
 United States
56855 Posts |
 to CCF. Only buy one in a PCGS or NGC or ANACS slab. John1  |
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Pillar of the Community
United States
992 Posts |
*** Edited by Staff - Please review the rules that you agreed to when you registered. ***
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New Member
 United States
5 Posts |
As a new member, I can't email anyone directly.
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Moderator
United States
56855 Posts |
Badgers & suipakpaikungfu, Please read the rules about buy/sell/trade John1 |
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Pillar of the Community
 United States
5671 Posts |
If you want to ensure you're buying a genuine one, I'd definitely get one graded by PCGS or NGC. Nothing wrong with breaking it out of the slab if you want to display it differently and he won't be selling it.
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Pillar of the Community
Lebanon
506 Posts |
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Moderator
United States
188440 Posts |
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New Member
United States
5 Posts |
Just to clarify, I don't want anyone here to try to sell me a coin - that's not my intent AND it's against the rules. I'm only seeking opinions and suggestions regarding guaranteeing authenticity, of which I've received a few already.
I hope that I haven't broken any other rules...that's not my intent.
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Moderator
United States
34410 Posts |
@badgers, first welcome to CCF. Second, I'd recommend looking on vcoins.com for this gift as opposed to ebay. While I have no financial interest in either website, it is my understanding that the vcoins sellers are more closely vetted than those on ebay. I agree with the others that buying a slabbed coin is probably a good idea as well. "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
United States
5362 Posts |
Badgers I understand why you are reluctant to buy a Pillar coin. I would be as well and I do have some expertise in the field. Even Pillars that have been encapsulated may counterfeit. I own at least one counterfeit coin encapsulated by each of the grading services. My question is why bother with a "genuine" coin at all, if the intent is to display a coin for historical purposes? Nearly all of the Museums in the US exhibit copies not genuine coins. A museum replica would allow handling of the coin for close inspection and they are only a small fraction of the value of a genuine coin. In addition, during the colonial era, silver coins were in very short supply due to English restrictions on the import of silver of any kind. You should concern yourself with what part of the colonial era your son is interested in. You can buy a "genuine circulating coin" from the colonial era for far less than the iconic Pillar Dollar. That coin was given an elevated status by it's inclusion in Red Book, but it is a status that is undeserved. For the large part of the colonial era VERY FEW dollar sized silver coins actually circulated in the colonies. Since you are not making an investment, I suggest buying any one of the cheap forgeries that look genuine. That removes the concern and will cost just a few dollars. That way you could actually assemble a much larger set of "coins" of all denominations and metallic types.
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Pillar of the Community
United States
1156 Posts |
The Heritage weekly world auctions often have a few certified pillar dollars such as this one. |
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Moderator
United States
188440 Posts |
Quote:
Just to clarify, I don't want anyone here to try to sell me a coin - that's not my intent AND it's against the rules. I'm only seeking opinions and suggestions regarding guaranteeing authenticity, of which I've received a few already.  |
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Replies: 12 / Views: 1,535 |
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Posted 09/18/2020 12:54 pm
