Counterfeit Error

Meiji03 - Thanks for doing that. I am reluctant to sign up for too many sites because it seems every time I do - I cause problems for my PC.

Anyway I looked at the two scans. These both appear fine to me based on what I see. This series is as far as I know not fully standardized. Production levels between 1891 and 1895 are likely too high (over 72,000,000 coins) to presume individual die manufacture but too low to require that a master hub was in use. The fact that there are hub variations is proven by the existance of two 1892 varieties listed in Krause. The two coins in the picture were made 4 years appart, one on either side of the Krause "variety" so there had to be a change in hubs - perhaps more than one.

The period of manufacture 1891 and 1895 precisely brackets the ramp up in production associated with the world silver glut of 1893 and falls just before the 1897 Demonetization of the Yen by Japan. It is interesting to note that while US production rates of the Dollar dropped - Japan was increasing production. That may be why the two governments ultimately approached the situation differently.

Anyway, the variations I can see seem within reason to me and could be attributed to the use of multiple hubs. There are no telltale signs of forgery on either coin. Unless I had other facts available, I would say both are real.