| Die-Struck Counterfeit 1894-S Morgan Dollar
At a coin show yesterday I picked up a few counterfeit coins to add to my collection including this VERY nice and VERY deceiving 1894-S Morgan Dollar (a key date). I collect and study counterfeit coins because I find this area of numismatics to be extremely interesting. I don't claim to be the foremost expert on counterfeit coins and some here may call me a "moron" but I think I have a very good understanding of the subject.
I don't know the origin of this fake but the dealer said he bought it as a genuine coin from a seller on eBay. (I didn't get the entire story but he said he was able to get reimbursed through PayPal. I guess the amount I paid him for the coin was pure profit.)
This coin is die-struck as opposed to being cast. It weighs 24.97 g, a good bit less than a genuine coin (26.73 g). This coin has GREAT cartwheel luster, something you just don't get with a cast coin.
It appears the planchet was brass or bronze and was plated with nickel or silver after being struck because the yellowish metal shows through in several places where the plating has worn off. With all the luster this coin has I question whether the plating was actually worn off. Could it be that the planchet was plated before being struck? Would that account for the plating being missing from the high points of the devices (where the metal moved the most)? Could the coin have cartwheel luster if it was plated after being struck? This coin has really gotten me to thinking about a lot of things I had never considered about counterfeit coins.
It also appears the dies were made from circulated coins because, while the coin - in general - has very sharp details, the details on the highest points of the devices appear worn (like on a circulated coin). I'm sure the counterfeiter polished his dies quite a bit because the fields are excellent (with a few exceptions).
The last two numerals of the date appear to have been altered. Can any of the Morgan Dollar experts here tell what date and mint the host coin(s) were for the obverse and reverse?
Below are photos of the obverse and reverse of this coin. I will post close-up photos of the coin in follow-up posts.
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No state shall emit bills of credit, make any thing but gold and silver coin a tender in payment of debts, coin money . . . - US Constitution, Article 1, Section 10
ANA LM-3799; OHNS LM-59; SUSCC R-4005. All coins stored in bank safe deposit box. | 
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