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Trade Dollars - Anyone Care To Guess Authenticity?

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Nvest's Avatar
United States
19 Posts
 Posted 07/11/2011  6:21 pm Show Profile   Bookmark this topic Add Nvest to your friends list Get a Link to this Message Number of Subscribers
I have been looking at adding some Trade dollars to my collection, but am hesitant to be aggressive on any raw coins as I learn more about the number of counterfeits out there... even third party graded counterfeits! Below are some results of a recent proxibid auction on raw Trade dollars. Other than weight, what's the concensus on what to look for?
The first thing I noticed is that the ones below have several variations between them such as the design lining the inside of the rim and rim width itself...

1873CC http://www.proxibid.com/asp/LotDeta...526#topoflot
1874CC http://www.proxibid.com/asp/LotDeta...d=10792529#0
1875CC http://www.proxibid.com/asp/LotDeta...581#topoflot
1876CC http://www.proxibid.com/asp/LotDeta...584#topoflot
1977CC http://www.proxibid.com/asp/LotDeta...586#topoflot
1878CC http://www.proxibid.com/asp/LotDeta...531#topoflot
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ErrorCoins222's Avatar
United States
1699 Posts
 Posted 07/11/2011  6:31 pm  Show Profile   Bookmark this reply Add ErrorCoins222 to your friends list Get a Link to this Reply
Color, Patina, and Luster are really important, especially with cheap chinese counterfeits. Although, this can be a lot harder to detect on some of the better fakes out there.
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Nvest's Avatar
United States
19 Posts
 Posted 07/11/2011  7:13 pm  Show Profile   Bookmark this reply Add Nvest to your friends list Get a Link to this Reply
All of the ones listed have a similar tarnished silver color except the '74 that appears to have more brown.
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td5173's Avatar
United States
565 Posts
 Posted 07/11/2011  7:21 pm  Show Profile   Bookmark this reply Add td5173 to your friends list Get a Link to this Reply
All the reverses look the same. Look at the left wing when looking at the coin. Near the top there is a chip out of all the wings in the same spot. Amazing the same reverse die lasted for 5 years.
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ExoGuy's Avatar
United States
4415 Posts
 Posted 07/11/2011  7:49 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
The coloration and flatness of strike cause me to think that these are all Chinese Counterfits (CC's of a different sort). Note how similar the coloring and wear are on each "coin." These look like many I've seen.
A ring test and weighing would likely confirm my suspicion.

I've bought some good coins, using Proxibid. Some of the auctioneers who subscribe to this clearinghouse are knowledgeable, and others are not. Sadly, there are many auctioneers who are more concerned with their commission than they are with buyer safety. Sometimes, the buyers are too embarrassed to come forward when they learn they've been taken. I personally met a buyer who declined my offer to testify in court that the auctioneer who sold him thousands of dollars worth of counterfeit Trade and Seated dollars knew the "coins" weren't genuine. Other buyers simply never question authenticity and take issue with someone wh eventually will do so. Sad for the hobby in general, this is ...
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Nvest's Avatar
United States
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 Posted 07/11/2011  8:17 pm  Show Profile   Bookmark this reply Add Nvest to your friends list Get a Link to this Reply
td5173, that's a great observation - I didn't catch that when I reviewed them!
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greghansen's Avatar
United States
92 Posts
 Posted 07/11/2011  9:31 pm  Show Profile   Bookmark this reply Add greghansen to your friends list Get a Link to this Reply
They are all really bad cast counterfeits. In hand under a loupe they will have a 'sandblsted' looking surfaces. There is a large quantity of these cast counterfeit Trades. I actually have an entire set of them...and they all display similar toning.

All of the imaged coins have a Type 1 reverse with berry below eagles claw. Type 1 reverses were not on Trade dollars in 1877 or 1878.

The size, style and location of the mint mark is wrong for several of the dates.

Again, really bad, amateurish fake Trades. If any ready is fooled by these dollars they should not be bying raw Trade dollars. Stick with the slabbed ones until you know what your doing and what to look for.
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coinguru13's Avatar
United States
24 Posts
 Posted 07/11/2011  9:38 pm  Show Profile   Bookmark this reply Add coinguru13 to your friends list Get a Link to this Reply
Yup those are fake.
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fenton's Avatar
United States
4989 Posts
 Posted 07/12/2011  12:07 am  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
Very fake looking
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tokenmast's Avatar
United States
648 Posts
 Posted 07/12/2011  10:39 am  Show Profile   Bookmark this reply Add tokenmast to your friends list Get a Link to this Reply

Quote:
really bad, amateurish fake Trades. If any ready is fooled by these dollars they should not be bying raw Trade dollars. Stick with the slabbed ones until you know what your doing and what to look for.
and then please see links here for a matched set ly ( Ever hear about the slabs being forged? )
here on CCF......
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Yokozuna's Avatar
United States
4618 Posts
 Posted 07/12/2011  11:03 am  Show Profile   Bookmark this reply Add Yokozuna to your friends list Get a Link to this Reply
I'm not familiar with Proxibid. Is the buyer protected when they wind up with a fake coin? I looked at the site and found a few "deals" there, but if I buy the wrong coin, do I have a chance of recovering my money?
ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!!
Trade-Dollars---Anyone-Care-To-Guess-Authenticity?


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Conder101's Avatar
United States
17884 Posts
 Posted 07/12/2011  2:23 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
All fakes. All six coins are from the same reverse die, a type 1 die, a type that they didn't use after about 1876. So the 77 and 78 coins have to be fakes,and since all the coins are from the same die, they are all fakes. There are some other features that point to them being fakes. Another "interesting" point is that on the 77 and 78 coins the obverse die has a type 2 ribbon, but a type 1 hand. This only occurs on a transitional variety from Philadelphia in 1876.

Well they sold 6 fakes for $4,200 plus 15 to 20% buyers premium. I like how in their terms of sale they try to specifically make the buyers responsible for the authenticity and how all the sales are final even if they aren't real. I hope the buyers "test" those terms. OK in their general terms it turns out they claim to be operating like ebay, just a venue and the auction is between the buyer and the consignor. But since they have on-site bidding as well as internet I'm not sure how they handle that.

I would think that the buyers are going to have a tough time getting their $5k back. The auction house disclaims responsibility, and the consignors are anonymous. Read as SOL. Oh wait they only accept Credit Cards for payment. They say they don't accept chargebacks but I don't think the Credit Card companies will give them much choice about that. So the buyers do have a way to get their money back, if they act quickly.
Edited by Conder101
07/12/2011 2:30 pm
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Nvest's Avatar
United States
19 Posts
 Posted 07/13/2011  9:46 pm  Show Profile   Bookmark this reply Add Nvest to your friends list Get a Link to this Reply
I've started watching Teletrade as well. They have a decent number of Trade dollars every few days - all are slabbed/graded. They also have high picture quality. Seems like a much safer bet.
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upstate's Avatar
United States
3278 Posts
 Posted 07/14/2011  11:39 am  Show Profile   Bookmark this reply Add upstate to your friends list Get a Link to this Reply
All raw Trade dollars are fake until proven otherwise as far as I'm concerned.
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Freedom's Avatar
United States
526 Posts
 Posted 07/14/2011  12:01 pm  Show Profile   Bookmark this reply Add Freedom to your friends list Get a Link to this Reply
Heritage Auction also has a fair amount of Trade dollars from time to time. https://www.ha.com.

I have purchased a couple of Barber halfs from them that I couldn't find any place else in a decent grade. All coins on HA are slabbed, no raw.
Fast shipping and they use PayPal as one of the methods of payment which means that you are protected in case of a fake. (To some degree).
Valued Member
Chadwick's Avatar
United States
271 Posts
 Posted 07/14/2011  11:36 pm  Show Profile   Bookmark this reply Add Chadwick to your friends list Get a Link to this Reply
I would love to add a Trade dollar to my collection, however, because of the number of fakes, I would only purchase from a reputable dealer that would 100% back that purchase.

The thing with Trade dollars is that there really aren't many raw examples out there. I agree with "if it isn't attributed, it's probaly a counterfeit". And as far as attributed coins go, if one of the big three didn't attribute it, it's counterfeit. But I don't stop there with my suspicions, it still needs to come from a dealer that backs my purchase 100%.

Am I paranoid? No. I'm realistic. Raw Trade dollars just are not seen hardly ever. I'm a music man and as such I understand how go fakes can overrun a market with demand. There are more 1959 Fender Stratocaster guitars on the market at any given time than was ever manufactured. This persists because people buy them. And like rare coins, they don't come forward and admit to being burned. Instead, they pass on the crime and resell to the next poor soul that is willing to buy, in hopes they don't have the knowledge to know better.

There are a lot of young folks inheriting treasures that are little more than expensive wishes and misplaced good intentions.

Knowledge is power. Be learned. Be aware. And don't go into anything without backup. Membership here gives you the tools to avoid being scammed. Thank goodness.
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