Four Morgans - Which is the Fake?

Actually, the D in United looks just fine under a loupe. Unfortunately, the photo is to blame for many of the inconsistencies that have been mentioned. I tried a number of light and camera positions to get it as accurate as possible. The fake coins look very good at hand-held distances, maybe a bit too bright for a circulated coin but all the coins were not as bright as the example coin I showed. I've seen cleaned coins worse. Each coin was unique in the way it was "aged." Most had old scratches (dull and grainy) from the model coin and new scratches (shiny, not grainy) that were obviously added later. Some even appeared to have a bit of toning.

 

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