I've been reading about how there were some very good $2.5 fakes made in the early 1970s. I'm examining a $2.5 in a ring and it's definitely not an obvious fake. I don't think it's a counterfeit at all but was wondering if there really are fakes that are so good you couldn't tell? It was XRF'd at dealer and was sent to a secondary authenticator but I don't know how much of an expert that authenticator really is. I've studied it very hard myself and while I can't weigh it, it does look right and have tested it with a Kee and Sigma wand and the composition shows as being correct. I don't see tool marks or obvious impressions or raised lines. But a lot of the edge is covered. Does anyone know how good are the best fakes and was there any estimate on how many might be out there? I've read that the gold will be correct in many of the fakes as well so I still have some concern but I can't point to anything being off about it. No issues at the neck. No raised spikes. Just scratches and dents.
I've bought and sold close to 1,000 Indian quarter eagles over the years, and have about a dozen that fooled me (I save them for reference, until gold rises irresistably high). Of those, there are a couple that are so good I'd probably make the same mistake again on those two. The others I'd now catch. In short, yes, there are many fakes out there . . . and most of them require examination by someone who is more than a casual collector of the series . . . a series expert is almost mandatory.
It has often led me to wonder why the counterfeiters do so well with the incused designs. I have lots of quarter and half eagles that have been in my SDB since the 1990's and I am rather afraid to pull them out for authentication.
Counterfeit or not - the coin being part of a jewelry piece should add little or no value to the ring
Technically correct but try telling someone selling one that. Nice rings run more than melt value and one of these coins, though it will always be a jewelry piece now, I think the coin adds more than melt value to it as well assuming it's real though damaged.