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Fake 1856 $1 Gold Coin?

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Author Previous TopicReplies: 13 / Views: 4,309Next Topic  
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Swairlines's Avatar
United States
9 Posts
 Posted 08/28/2011  6:15 pm Show Profile   Bookmark this topic Add Swairlines to your friends list Get a Link to this Message Number of Subscribers
1st time user here....1st time post...

Believe this is a fake. Can I solicit some of the more knowledgeable users here for their opinions. Please feel free to comment. Thank you.

Fake-1856-$1-Gold-Coin?
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chris12018's Avatar
United States
2130 Posts
 Posted 08/28/2011  6:33 pm  Show Profile   Bookmark this reply Add chris12018 to your friends list Get a Link to this Reply
to CCF

Have you weighed it & check size?
Valued Member
kylecolb's Avatar
United States
438 Posts
 Posted 08/28/2011  6:42 pm  Show Profile   Bookmark this reply Add kylecolb to your friends list Get a Link to this Reply
Looks like it might have been used in jewelry
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Swairlines's Avatar
United States
9 Posts
 Posted 08/28/2011  6:47 pm  Show Profile   Bookmark this reply Add Swairlines to your friends list Get a Link to this Reply
No, I have not seen this coin in person yet....The center spot on the reverse of the coin has me concerned...So I dont even know if I'll take the time to look at it yet....Just trying to gauge some opinions first..
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bobby131313's Avatar
United States
24161 Posts
 Posted 08/28/2011  7:01 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply
I think the spot is solder, it likely had a pin soldered to it.
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Swairlines's Avatar
United States
9 Posts
 Posted 08/28/2011  7:32 pm  Show Profile   Bookmark this reply Add Swairlines to your friends list Get a Link to this Reply
If this turns out to be real (I'll weigh it for sure) how does $100 sound?
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United States
759 Posts
 Posted 08/28/2011  8:33 pm  Show Profile   Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
If real, I would personally not pay more than 90-95% of gold melt value due to damage and solder, and would start my negotiations a bit lower. Definitely ex-jewelry. Unless you just love the coin aspect of it, you'd be buying bullion, which you could get for not too much more relative to melt, with no damage and no authenticity issues. Just my 2 cents. Good luck.
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Jaobler's Avatar
United States
6385 Posts
 Posted 08/28/2011  9:43 pm  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply
The coin itself is likely real since many of these small (and formerly inexpensive) coins were used to make rings, tie pins, and cufflinks. You can easily find intact gold coin jewelry that looks nice; this damaged piece is basically just gold scrap. A gold dollar contains 0.0484 oz. of gold so the current "melt" value of this piece is maybe $85. I personally wouldn't be interested in something like this unless it were priced at well below melt.

By the way, welcome!
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littleboy's Avatar
United States
764 Posts
 Posted 08/28/2011  10:37 pm  Show Profile   Bookmark this reply Add littleboy to your friends list Get a Link to this Reply
most likely genuine. a lot of dollar coins were put into jewelry.
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sel_69l's Avatar
Australia
21788 Posts
 Posted 08/29/2011  03:19 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
A coin such as this one could well have seen much wear incorporated into a jewelry piece. In such circumstances, the detail can appear as rounded and not flat, as would occur if the coin had suffered wear in normal circulation. 90% gold is a fairly soft alloy, anyway.

It is for this reason, that I am quite sceptical when I see an ancient gold coin in pristine condition, irrespretive of who is trying to sell it. I just can't see how a 95% + purity gold coin can survive 2000+ years with no wear at all. But that is another matter.

Quite often, because three dollar coins, quarter eagles and one dollar coins are small, they are quite suitable from a jewelry point of view, and so 'jewelry copies' were made, and quite often of good gold. When either the copies or genuine coins suffer much wear in jewelry, the result is often as you see pictured here.

Value? I think Jaobler and OneBowl are right.
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Moe145's Avatar
United States
8904 Posts
 Posted 08/29/2011  08:34 am  Show Profile   Bookmark this reply Add Moe145 to your friends list Get a Link to this Reply
Definitely ex-jewelry. I would expect the coin to be real but obviously damaged severely.


Quote:
I personally wouldn't be interested in something like this unless it were priced at well below melt.


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biggfredd's Avatar
United States
9104 Posts
 Posted 08/29/2011  09:18 am  Show Profile   Bookmark this reply Add biggfredd to your friends list Get a Link to this Reply
Late addition: almost certainly genuine, ex-jewelry tack.
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yankee1227's Avatar
United States
1151 Posts
 Posted 08/29/2011  10:31 am  Show Profile   Bookmark this reply Add yankee1227 to your friends list Get a Link to this Reply
I would offer maybe $60-$70
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Swairlines's Avatar
United States
9 Posts
 Posted 08/29/2011  3:26 pm  Show Profile   Bookmark this reply Add Swairlines to your friends list Get a Link to this Reply
Many thanks to all who responded. I'll make an offer shortly (of course after I weigh and measure)

Speaking of measuring would a caliper set from Harbor Freight suffice in measuring diameter and thickness?

Thanks again....
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