noob q is this counterfeit

Discussion in 'What's it Worth' started by Humanoid, Jul 27, 2008.

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  1. GDJMSP

    GDJMSP Numismatist Moderator

    The most common reason is money.
     
    GDJMSP, Aug 8, 2008
    #21 + Quote Reply
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  3. Lehigh96

    Lehigh96 Toning Enthusiast

    You are of course not referring to the most common reason for counterfeiting a Jefferson Nickel, rather a rare coin, right.
     
    Lehigh96, Aug 8, 2008
    #22 + Quote Reply
  4. CamaroDMD

    CamaroDMD [Insert Clever Title]

    Why not, if you can make them for less than their face value you are making money.

    In fact, one of the most popular modern counterfeits to collectors is a Jefferson Nickel. He made a bunch of counterfeits in 1954 that were dated 1944. But, he didn't put the large mintmark on the reverse (which the war nickels had) so they are easily distinguishable. I really want to get one at some point.

    http://www.numismaticenquirer.com/TNE/Henning Counterfeit Nickel.html
     
    CamaroDMD, Aug 8, 2008
    #23 + Quote Reply
  5. Hobo

    Hobo Squirrel Hater

    I have a Henning nickel. He did a really, really good job. Unfortunately he forgot to put a mintmark on his coins.
     
    Hobo, Aug 8, 2008
    #24 + Quote Reply
  6. GDJMSP

    GDJMSP Numismatist Moderator

    No, I am not referring to a rare coin at all, I am referring to the most common of all coins. The most obvious reason to counterfeit any coin is to use it in commerce - so you can spend it. And the reason is for the profit to be made by doing so.

    From the dawn of time, the very first coins ever made, they have always been worth less in metal content than the face value. And yes that especially includes gold and silver coins, let alone modern clad coinage. Only in the last few years has the price of copper and nickel exceeded that of the face value of the coins.

    If you can make a quarter for 6 cents and spend it for 25 cents, that is my idea of profit. It only goes up with the larger denominations. In days past there was even money to be made by making counterfeit cents. All so you could spend them.
     
    GDJMSP, Aug 8, 2008
    #25 + Quote Reply
  7. Lehigh96

    Lehigh96 Toning Enthusiast

    So if it cost the guy 1 cent to make the Jefferson nickels, he would have to make 1000 every day just to earn $40. Sounds like getting a job would be easier than committing that federal crime.
     
    Lehigh96, Aug 8, 2008
    #26 + Quote Reply
  8. GDJMSP

    GDJMSP Numismatist Moderator

    And with a coin press that spits out 1000 coins in one minute - what can he make then ?
     
    GDJMSP, Aug 8, 2008
    #27 + Quote Reply
  9. Lehigh96

    Lehigh96 Toning Enthusiast

    Where in the heck can you buy a coin press? How much do they cost? And can they really crank out over 15 coins per second.

    I can see the headlines now. Counterfeiter arrested after placing classified AD "coin press mechanic needed"!
     
    Lehigh96, Aug 8, 2008
    #28 + Quote Reply
  10. GDJMSP

    GDJMSP Numismatist Moderator

    The presses the mint uses are even faster. Even the edge marking machine they use for the dollar coins run 1000 coins a minute.
     
    GDJMSP, Aug 9, 2008
    #29 + Quote Reply
  11. CamaroDMD

    CamaroDMD [Insert Clever Title]

    I wonder how many coins you'd have to counterfeit to make up the cost of that machine? :goof: :D
     
    CamaroDMD, Aug 9, 2008
    #30 + Quote Reply
  12. Lehigh96

    Lehigh96 Toning Enthusiast

    If you had the money to purchase one of those machines, why wouldn't you use the money in a venture that did not involve a 25 year prison sentence.
     
    Lehigh96, Aug 11, 2008
    #31 + Quote Reply
  13. Hobo

    Hobo Squirrel Hater

    The criminal brain does not think that way.
     
    Hobo, Aug 11, 2008
    #32 + Quote Reply
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