Although there are some sophisticated fakes out there, there will generally be something inconsistent about the appearance of a counterfeit coin compared to a real one. Paperback. Email to friends Share on Facebook - opens in a new window or tab Share on Twitter - opens in a new window or tab Share on Pinterest - opens in a new window or tab | This listing was ended by the seller because the item is no longer available. These issues can be recognised by their lighter colour – their alloy contains silver, that of a normal Vreneli does not – and by a cross-shaped countermark on the Swiss cross. So how do you determine if your gold coin is a counterfeit or not? The detail on this counterfeit 1877 $2.50 Liberty gold coin (left) shows limited sharpness throughout. The common method for making counterfeit coins has changed little over the centuries. Check that the date is consistent with official production records along with its official weight, diameter and thickness. There will always be someone out there attempting to commit fraud when you’re dealing with collectibles and precious metals, but the incentive to do so is higher the hotter the coin market gets. This is obviously one advantage that experienced dealers have in avoiding such scams, but even average consumers should read the collector’s guide books and study pictures of the coins they’re interested in. As the market for gold coins and other rare coins continues to rise, the financial rewards for passing off such forgeries go up, too. Easy to understand. If a bullion coin or bar sticks to a magnet you can easily throw this one out. How to detect fake gold coins … The counterfeiter can also create fourrées by making a clay or ceramic mold of an original coin, then pour the alloy, create the coin, then cover with a thin veneer of precious metal using a “fire gilding” process that involves dissolving mercury to adhere the gold to the base metal. Old Types Of Counterfeit Gold Coins. If you are told that the melt value exceeds the weight of the item, you should be wary of the purchase because it may be a gold plated or counterfeit piece. One of the ways to quickly determine a counterfeit is by its details, such as this obviously unskilled attempt to replicate the detail along the rim of a coin. Bear in mind that this technique may damage your gold. But what about the rest? An original 1877 $2.50 Liberty gold coin is pictured on the right and can sell for twice that amount. 17 Wealth-Building Strategies to Implement Today, The Best Way to Play Silver: The Metal That Is Outpacing Gold, Investing in Gold? The most likely explanation for the rise of fake coins coming from China is simply the growing incentive. GoldCore buys the majority of its coins from government mints, which cuts out a lot of the risk. This means the only way one is able to detect a counterfeit is through careful examination. Dennis with Center Street Gold and Silver gives you a few methods to detect counterfeit gold. While detecting counterfeits is getting easier in the age of electronics, counterfeiting is still a game of numbers. Image courtesy: By Geni and Wikipedia.com. Font: Small variations in font design can give a counterfeit American Eagle away. A recent study of the 50 most commonly counterfeited U.S. coins by the Numismatic Guaranty Corp., an industry grading company, 43 are gold coins of different eras. Detecting Counterfeit Gold Coins Book 2, by John Devine under the name Lonesome John. But this really only checks the surface of the coin and entails damaging the coin’s surface. As was the case with a few of the gold coins higher on this list, these fakes were often made in order to deceive collectors. A common counterfeit coin is a 1909-S VDB Lincoln cent and illustrates the importance of inspecting mintmarks. Early silver ingots were also counterfeited the same way. If you can see any glue marks, you’ll … Everett Millman, a numismatic expert who works for Gainesville Coins, sent me his thoughts. I hope you found this expert insight as useful as I did. We will concentrate on simple. That’s a website that sells and buys gold coins, serving an international clientele. They have found a particular alloy that replicates a similar density of gold as an alloy in the center. The introduction of these coins to the masses is said to have been by the Lydian King Croesus (561-547 B.C.). Once a counterfeit is verified, the coin is usually confiscated and destroyed with no recourse for the collector. Cover, binding, spine, and pages, all very good condition. A few silver counterfeits also have been made this way, as have some fake copper coins. Many people try to obtain one from each mint, or even try to obtain entire runs of certain monarchs. A genuine coin is used to create a die that is an exact mirror image of the coin. DETECTING COUNTERFEIT COINS & GOLD COINS - Do It Yourself Counterfeit Protection. Death by hanging for counterfeiters was still common in 17th and 18th century Europe. In point of fact, anyone who deals with rare coins will develop a basic understanding of how to detect counterfeits, whether out of interest or necessity. They then cover this alloy with a respectable layer of gold and die stamps them with a counterfeit example of the original. Fake coins frequently have a more hollow thud or dull sound akin to the sound when you drop today’s base metal coins (euro, dollar, sterling, etc.) As a Grand Rapids coin dealer, we at Mullen Coins have an especially strong interest in the detection of counterfeit and altered coins. I have the central bank of the Federal Republic of Germany, https://www.jasper52.com/wp-content/uploads/2019/05/coins-featured.jpg, https://www.jasper52.com/wp-content/uploads/2016/09/j52_logo.png, Old Masters to modern art ready to hang in May 8 auction, Blockbuster movie posters starring in Jasper52 sale May 14. If the scratch is black or grey, it’s not real gold. Where are these counterfeit gold coins originating? The Fisch checks the weight, diameter, thickness and shape of a gold coin. Home. The coins typically showed a picture of a lion or bull on the face and a punch mark or seal on the other side. Interestingly, while entire date sets of counterfeit Indian Head quarter eagles, half eagles, and eagles have been seen, relatively few pre-1840 gold counterfeits exist. Of course, when possible, it’s always worth consulting the experts. These measurements are published in every guide book of coins; government mints are very careful to adhere to these dimensions because it’s the easiest way to protect against counterfeit currency. How to detect counterfeit coins Posted by Shark Fishman on May 26, 2017 February 21, 2018 With an upswing in the amount of counterfeit coins in circulation, we asked U.S. Treasury Official Darren Wilcox what steps the government takes to determine whether coinage is authentic or fake. Counterfeit gold coins of the bullion or low-premium variety are very scarce. According to several respected coin and bullion dealers, many of the counterfeit gold coins are being produced in China, among other places. Both gold and silver have a very recognizable ‘solid’ sound when dropped on wood or other surfaces. For that reason, a thin layer of pure gold over tungsten is the ideal combination for counterfeiters because the overall weight is very close. As I wrote here, China is flooding the markets with counterfeit gold coins. Every metal and alloy has its own specific gravity (hence the name). Sovereigns can be fun coins to collect. It’s an exciting time for gold investors. The 1856 Flying Eagle Cent How to detect altered and conterfeit coins. It’s also a perilous time. In addition, you may want to check out my new report, “The Savvy Investor’s Guide to Gold.” Available now in the Investment U Bookstore, it contains three of my favorite gold investments… as well as the ones I think you should avoid. After all, if you have a proof gold coin, for example, biting it, drilling into it, carving a piece out of it to examine, or otherwise removing it from its original plastic slab to test would devalue the coin. *The views and opinions expressed in this article are those of the author and do not necessarily reflect the official position of Wall Street analysts. A third century A.D. clay mold for counterfeiting an early Roman coin. Many Chinese counterfeit coins are magnetic, and it’s a dead giveaway if a silver-looking coin is attracted to a magnet. I believe it was published in Europe around 1964 as a counterfeit detector for major banks. We certify that all of our precious metal products are genuine. Under magnification small details such as sloppy lettering, the use of a wrong typeface for numbers and letters, misspelled or missing words, unusual or missing design features, rim or edgings that are spaced incorrectly or missing altogether, and other obvious defects like foundry marks will show up clearly. Since 1980. However, there are many fakes present in the market. If the scratch is gold, then it is genuine. s. Saint Gaudens "America's Most Bueatiful Coin" Twenty Dollar Gold Coin. You could weigh it, but if the scale isn’t properly balanced or doesn’t weigh past two decimal places, it would be hard to detect if an alloy such as tungsten is being used. 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