Just curious is people collect older (1882) counterfeit coins? I came across a fake, and have kept it in my collection for awhile...but it always ate at me if someone else might enjoy it more? It's an 1882 double eagle, and I'm pretty sure it weighs a lot more, and not made of gold. Also, since it's fake, where did this come from? I took it to one place and was told it "may" have been from china around that time. Thanks!
Well, many of us do have counterfeit (or forgeries) coins, not necessarily to "collect" them, but to use as a tool to gain knowledge as to what to look for in these fakes. You are correct, there is a huge influx of counterfeits coming in from China, with all denominations and years well represented. There are Chinese power sellers on eBay dumping thousands of coins a week into the U.S., most of which do not carry the required "copy" stamp. And the current crop of forgeries are very well made, and getting better all the time.
Counterfeit US money is contraband and can be seized without a warrant. It is illegal to buy or sell counterfeit US money. All US coins and US government legal tender banknotes are lawful money of hte United States and counterfeiting them is a crime. In fact, US law forbids all forgeries of all forms of money. Moreover, lack of enforcement is not endorsement. In other words just because hundreds of criminals operate an open air market on eBay does not change the law. If there is a fire downtown and the police are there directing traffic, the lack of police enforcement at the Mall is not your invitation to rob the jeweler. Misguided and misinformed collectors sometimes fall prey to fast talking hucksters who sell fakes on the grounds that they are "educational." The crooks say that by knowing counterfeits, you can protect yourself. This is false. The way to protect yourself against fakes is to know the genuine material. Anything that does not meet that standard is suspect. From the Cornell University Law School website for the US Code (here).
Just as with error coins, there is a growing community of fake or counterfeit coin collectors arising. At coin shows they are frequently on display for sale and some are very valuable or just priced high. Some are made with the exact materials as the originals such as some Silver Dollars made with pure Silver for numismatic sales. OH, yeah, as to the laws about them. If you check carefully, you notice we also have laws about murder, theft, home invasions, etc. Fo some reason criminals just don't read those. I would suspect the fake coin police are rather busy doing other things. Not trying to be sarcastic, but stopping the fakes from getting here is rather more important than collectors having them.
Well, if those people are selling unmarked fakes then indeed they are breaking the law...even if they are selling them as fakes. I have never seen unmarked fakes being sold openly at coin shows AS fakes so...I dont see why there would need to be fake coin police Posted this before but lets bone up and get the US law that pertains to this: d) Imitation numismatic item means an item which purports to be, but in fact is not, an original numismatic item or which is a reproduction, copy, or counterfeit of an original numismatic item. Such term includes an original numismatic item which has been altered or modified in such a manner that it could reasonably purport to be an original numismatic item other than the one which was altered or modified. The term shall not include any re-issue or re-strike of any original numismatic item by the United States or any foreign government. Imitation numismatic items subject to the Act shall be marked in conformity with the requirements of the Act and the regulations promulgated thereunder. Any violation of these regulations shall constitute a violation of the Act and of the Federal Trade Commission Act. Any person engaged in the manufacturing, or importation into the United States for introduction into or distribution in commerce, of imitation numismatic items shall be subject to the requirements of the Act and the regulations promulgated thereunder. An imitation numismatic item which is manufactured in the United States, or imported into the United States for introduction into or distribution in commerce, shall be plainly and permanently marked ``COPY''. The word ``COPY'' shall be marked upon the item legibly, conspicuously, and nondeceptively, and in accordance with the further requirements of these regulations. The word ``COPY'' shall appear in capital letters, in the English language.
I didn't think it matter if it had anything noting it was fake or not. If it is fake or counterfeit, then you should and cannot own it legally.
Do people collect fakes? Without a doubt in any collectible actually. Problem is many don't KNOW they are collecting fakes.
Some fakes are quite collectable. Becker fakes of ancient coins are quite sought-after in their own right, as are Robert Ready British Museum electrotypes. They should be properly labeled for what they are though, preferably within their own black album or cabinet of fakes so that any future heirs you might have don't accidently try to sell them as genuine....
thats not true. People do and can own fakes, they are called replicas...even fakes ment to be passed off as real can be owned as long as they are marked clearly. Nothing wrong with that IMO. Ancient fakes are quite desirable to many collectors for good reason...some of the most attractive coins I have seen are the medals of Giovanni Caving, The 'Paduan'. While I dont think they are as much fakes as tributes, they were never meant to be passed off as authentic, all the same, they were and a person who doesnt know may mistake one for a real ancient coin...but even if it were passed off as a real coin these days, an original would be worth quite a pretty penny. They are true works of art and today his reproductions are reproduced
As long as it is marked as a fake and you are not trying to decieve the person into thinking that it is the genuine article and you know that it isn't there isn't anything illegal against it. What is illegal is trying to pawn it off as the real thing, or attempting to use it as legal tender when it isn't.
Ok, I guess I should clarified that. I mean it is illegal to own a counterfeit coin/bill. Whether you bought it knowing or not. It is a federal law. I am not talking about the Van Gogh replica of the"Starry Night" at Walmart
