Counterfeit $2.5 Gold: Weighs the Same as Real

Sounds like you made out very well.

 

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The Lebanese fakes were typically full weight and often a little better in fineness. They could do it because the coins typically sold for a premium over the bullion value. And they had a ready market because being American coins people from the US could bring them back to the US without having them seized as being illegally imported gold under Roosevelt's Executive Order. Of course they could be seized as counterfeits, but the customs officials didn't have the knowledge to tell a real coin from a fake.

 

This is very helpful. Thanks.

BID $1,189.30 ASK $1,190.00

It's a $2.50 gold piece or 8% of a $20 Double Eagle? The gold is worth $86?

 

Divide the weight in grams by 31.1. Then multiply by .90 then multiply by the spot price.

 

No. Melt value is around $140

 

https://www.ngccoin.com/price-guide/coin-melt-values.aspx?MeltCategoryID=1&BaseMetal=US-Gold-Coin

 

Yes I am getting $140 on my calculations even though the chart says $144.