1995 1 oz American Gold Eagle: Real or Counterfeit?

Discussion in 'Bullion Investing' started by Ana Silverbell, Aug 26, 2020.

  1. -jeffB

    -jeffB Greshams LEO Supporter

    33.99 grams. So, tungsten? The inside is very hard, and heavy as gold?

    I saw such things listed on a well-known Chinese site. Seems like they were going for something like $400 back when gold was in the $1300 range, so plenty of room for both the manufacturer and the reseller, erm, "heir who doesn't know much about coins" to make out.
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  3. Ana Silverbell

    Ana Silverbell Well-Known Member

    The insides were not magnetic, or magnetically so weak that the coin did not attract when set next to a magnet, especially because of the thick gold cover. The suspicion is the content was tungsten. I understand a Gold Eagle is 33.9 grams, so the total weight was within tolerance.
    midas1, slackaction1 and ZoidMeister like this.
  4. -jeffB

    -jeffB Greshams LEO Supporter

    If the perp made three return visits to the same dealer with the same sort of "goods", is there a chance they'll come back with more?

    I mean, yeah, shame on the dealer for going that long without catching on, but it sounds like the perp may have been getting over-confident...
  5. Ana Silverbell

    Ana Silverbell Well-Known Member

    Yes, the "perp" made three return visits, selling a few at a time to diminish any attention. The hope was that greed would prevail and he would try one more time. But no.

    The dealer reported it to the police and Secret Service. The police response was, "All he has to say to avoid criminal charges is 'I didn't know they were fake.'" Dealer is waiting to hear from Secret Service.

    The "perp" was in his late 60s, and claimed he got the coins from his grandmother. This provides good cover: If he said, "I didn't know they were fake." The response would be, "Then let's go talk to grandma." "Let's find out where she got the coins from." The "perp" would respond, "Oh, grandma died years ago." Further checking would be needed to see if grandma was even alive in the 2000s when some of the coins were supposedly minted but that would be circumstantial evidence he was lying about his source, not their genuineness. Just a colossal circus.

    Your point, JeffB, on the dealer not catching this ... You would think that with in-person deals, the fakes would be obvious. The members here at CoinTalk would not even bite if it were an internet sale.
  6. fretboard

    fretboard Defender of Old Coinage!

    A smart officer, would approach the perp at his house with a search warrant as the man may have many fakes waiting in line to be sold! :D Also, money may be recouped as well, you never know! :cigar:
    manny9655 and Ana Silverbell like this.
  7. manny9655

    manny9655 Active Member

    If the perp was in his late 60s and he supposedly got them from his grandma, then the YOUNGEST grandma could have possibly been in 2000 would be approximately 100 to 110 years old. I turn 65 in a week. My grandfather on my mom's side died in 1992 at age 97 and grandma died in 1987 at age 86. On my dad's side my grandfather died before I was born and Grandma died when I was 9. I hope the officers involved are smarter than the dealer was.
    Ana Silverbell and fretboard like this.
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