Hey ! Gang, Just wondering. Since there are so many forgeries of collectable coins, is there a numismatic market for them ? I sometimes see fake coins going for some heavy prices. My question is why ? I know some people like to use these coins as fillers in their books for coins beyond their budgets, but other than that it's beyond me why these tokens even sell.
In numismatics, "fake coin" covers a wide ground. The most acceptable fakes are those made to pass in the day, not made to fool modenr collectors. These are collected many times by those collecting official issues. Then there are fakes made to commemorate the originals, again though not intended to fool anyone. Paduan coins in the 16th century were such coins, and are widely collected. Now, modern reproductions of collectible coins, made with the intent to deceive, (not having the legally required COPY stamp), I have no idea why they would sell for high prices. The only reason I would see someone paying strong prices for a good fake would be if they intend to deceive someone further down the line. Maybe not even sell it to them, but show it off and brag how great a collector they are. As you can tell, I have no use for fakes unless they are properly marked.
I think fakes made by other governments during wartime in an attempt to destabilize its enemies are interesting. I wonder if any were made as propaganda? Like the Hitler stamps the Allies made with Hitler's head rendered like a skull, as in a death mask.
Like regular coins, contemporary counterfeits are valued based on the market for the specific country/type and rarity. It's not all that uncommon that a contemporary counterfeit is worth more than the genuine coin it's replicating in equal condition.
Some counterfeits just have (to me) a cool story behind them, my favorite would be the henning nickels http://www.numismaticenquirer.com/TNE/Henning Counterfeit Nickel.html http://www.coinbooks.org/esylum_v07n13a09.html
Our local show has a dealer who comes and sets up his table. He specializes in COPY and REPLICA coins, which are clearly marked as per the HPA. So yes, there is a market for them.
Contemporary counterfeits can be very historical and important. For example : http://www.cointalk.com/t201704/ This is a note I recently encountered. The original was printed by Paul Revere. This is a contemporary counterfeit made by the British to circulate in the colonies and to try to dilute the early currency and to also shake the confidence in the new currency. How stinking historical is that?
