We should start an official counterfeit thread

Ex. I have a 1928 D, 3 legged buffalo nickel (I didn't pay a penny for it). I think it would be interesting if we could post obvious frauds or eBay links to help educate the community. (I know I still struggle with this issue even after years.)

More than just calling a coin fake, I would personally appreciate hearing why it's likely a fake. (The rim, weak strikes, etc.) I could be wrong, but I don't think I'm the only one who would appreciate a forum like this.

 

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Sounds good to me.

 

I had offers of $1500-$1600 from dealers for this counterfeit $10 Lib. I scratched a big X on both side then sold it for melt. The denticles are no good b/t 8-10:00 on the back side.

 

https://www.cointalk.com/threads/ne...erfeit-coins-only-how-to-id-stay-away.260579/

 

I remember that thread. Also, the OP is not talking about making a whole forum, just a thread.

Also, I just noticed months later I made a typo on that thread,
noticed I made a funny typo on my post on that thread, it should be written as,
"It could be full on ways how tell if your coin is genuine or not" not "I could be full on ways how tell if your coin is genuine or not."

 

It does not look fake, though I could be wrong, I just see a weakly struck coin. I would have accepted those offers. I also would not scratch a big X on both sides, if it is real that completely ruins it. I would have rather just sent it to a TPG and see there opinion. I see you sold it for melt, I assume it had to have been gold for them to take it, unless you have a key date, gold coin fakes are rarely made of gold.

 

That's not true...most fakes are made from real gold. I bought the coin for melt when spot gold was $350 and then sold the coin when gold was trading at about $600.

 

Sorry, CM, but as Dancing fire said, that's simply not true.

 

I agree with you that maybe Dancing Fire should have gotten more opinions before scratching a big X in the coin and selling it, but quite often, fake gold coins are made from real gold, and even real U.S. mint gold.

Counterfeiters can be very smart, and by melting a genuine U.S. $20 and making smaller denomination better date or even common date coins they add a lot of credibility to the fake. Add a slightly better date or mm to the smaller coin and the profitability increases.
Knowing the minting process and how genuine coins are made is the key IMO of learning to detect altered coins, fake errors and flat out counterfeit coins.

The ANA teaches classes on detecting counterfeits at summer seminar, but for those that can't make the trip they have several books and a correspondence course that are fantastic. These are a few of the books I enjoyed reading. (My only affiliation with any of the authors is my ANA membership.)


The modern minting process and U.S. error coins and varieties
Detecting altered and counterfeit U.S. Coins
The official guide to coin grading and counterfeit detection
Numismatic Forgery

Oh and P.S. if you are a member of the ANA, they have a library where you can check out many of these books and even some videos for the price of shipping.

 

Thanks for telling me, good to know when I buy my first gold coin (which I am looking to do in the near future)

 

I agree , like the Mideast fakes it was a way to sell gold as it was illegal to import gold coins unless collectable . Some are even a higher purity than 90% . A great book on some very well made gold coins is " United States Gold , Counterfeit Detection Guide " by Bill Fivaz .

 

Boy I sure hope you got a professional opinion on this before doing that.

 

I show the coin to a couple of guys whom are very knowledgeable in gold. They both said...NG!

 

I would have still gotten it graded. I have have dealers call some of mine fake too, then they come back real. Little price to pay on what could be a lot of money lost.

 

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I am 101% sure the coin is no good... Although I was offered $1600 for the coin it is not right to sell a counterfeit coin even to dealers.

 

@dwhiz - you slabbed that yourself? Funny I want to encapsulate some NGC rejects I received myself!

 

I self slab a lot of stuff, makes it easier to look at. I use the Eagle pages and put them in a binder.

 

In this case that holder is worth more than the Beijing mint half dollar.