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 Replies: 17 / Views: 3,167 |
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Pillar of the Community
United States
721 Posts |
I Live by a bar and, most of the folks know me. Occasionally they bring coins to me asking me to buy. A friend came by late just as I got home from work around 10pm. Wants to sell me two 1923 Peace coins. Soon as he handed them to me I saw black dots, and felt wrong. Immediately put them on the scale, and both weighed a whopping 19.6. I said nope and gave them back. He said he paid $40 for them, and I said I'm sorry, but you got robbed. jerryc39 I want to thank personally for his post on 5/10 of fake Morgan's. Also for the post on the 1794, and 1775 counterfeit post. This forum and those posts reminded me to pay attention. I did tell him it was illegal for him to sell them. He said he did not want them, and I said neither do I. I am currently in possession of them. I can stamp copy on them I think, but I think I should let the Law have them. Look at the letters and date. Black dots are rust, and no luster.   |
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Pillar of the Community
 United States
8938 Posts |
Great coin, though I think you might be missing something, it's not illegal to own them, nor is it illegal to sell them, I've bought and sold fakes on more than a few occasions. It IS illegal to try to pass them off as genuine though, if an informed buyer knows it is not real, and the seller knows as well, there's no issue. This would be a coin I know I, and probably many others, would love to have as an educational piece.
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Bedrock of the Community
United States
94367 Posts |
Great story and pics, thanks!
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Bedrock of the Community
United States
12477 Posts |
Well done!  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Bedrock of the Community
United States
10029 Posts |
In Canada you cannot own a counterfeit, but here in the States is OK. You can stamp "copy" on them if you want, but it is not required unless you have a business making copies of coins. As has been suggested, keeping them for educational purposes/examples is a good thing.
How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Pillar of the Community
United States
2869 Posts |
I would take it if it was for the right price. It is a nice coin and some of the old counterfeits are worth more than the original coin. That is if you can identify them and who made them. But keep them anyway for educational purposes.
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Bedrock of the Community
United States
17884 Posts |
Don't look like contemporary counterfeits, more like some of the recent Chinese counterfeits in which case they were made after 1973 and although you may be able ton own them, it would be illegal to sell them as unmarked they would be in violation of the HPA. Under the HPA you couldn't even sell them as counterfeits without marking them.
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Pillar of the Community
 United States
721 Posts |
I suppose I could keep them. Definitely got my eyes open now. Didnt think I would ever see one, and if I did I wouldnt know. At least he was only out of $40 and not $100 plus. Funny that's what his asking price was. I dont think I would have known any of this stuff if I didnt become a member here. Now I pick up books, watch programs, read alot in this forum, and always searching the web. The last few posts on counterfeit had me paying attention. Actually feels pretty good that I caught it before I was bamboozled. I am gonna keep them. Dont like them, but for educational use. I'm sure for the right price you would mean free? It's illegal to sell lol. Stay vigilant because this happened in the Heartland.
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Moderator
 United States
187582 Posts |
A nice pair for your black cabinet.
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Pillar of the Community
United States
8938 Posts |
Quote:
I'm sure for the right price you would mean free? It's illegal to sell lol. As stated upthread, it's not, and even if it was, there's a difference between letter of the law and spirit of the law. There's a difference between you knowingly selling a fake to someone who doesn't know, and you agreeing to sell a fake to someone who A) knows it's fake B) You believe will be a good faith actor with it and not misuse it. |
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Moderator
United States
187582 Posts |
I have to agree with Grape. I do not see anyone being prosecuted for a good faith transactions. Otherwise, a lot of black cabinet collectors would knee deep in heartache.
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Pillar of the Community
United States
721 Posts |
What about state law? Under Illinois 720 ILCS 5/ Criminal Code I cant find anything about owning them. I sure dont like messing with thing like that when I don't know the rules, laws, or business.
Edited by Minnimarine
05/20/2021 1:27 pm
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Valued Member
United States
440 Posts |
I work with a lot of cash and the first thing you learn about counterfeits is that there are two types, the over confident and the under confident. The under confident counterfeiters always try to hide their mistakes by making their currency look worn and heavily circulated, but it always makes me laugh because that never works. Once you're educated, such pieces come out if the wallet just screaming at you. I'm not a collector of Morgan's yet, but this is a great story.
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Pillar of the Community
United States
721 Posts |
Glad to share it with you all. Just want to thank this forum for there posts on counterfeits, and reminding me to pay attention. Figured I would do as the rest and post these coins to give the alert. Really if it wasnt for the couple past posts on the other coins be hard to say if I caught them or not.
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Moderator
United States
54280 Posts |
Don't try to sell them on ebay. Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
721 Posts |
No I will not be selling it on ebay or anything. @old Ford man I cant send you a pm. |
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Replies: 17 / Views: 3,167 |
Posted 05/18/2021 7:51 pm
