Is a copy coin worth anything?

No, you said you bought it at a coin auction for $40, and I want to know what kind of auction it was. ~ Chris

 

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It wasn't really a coin auction more like I bought it off of a coin dealer which he said he bought it at a coin auction

 

If you go to Aliexpress, you can get a copy 1883 Morgon for $2.00/$2.30. Plus a $2.00 new user discount

If you paid $40.00 for such a coin, the dealer is laughing to the bank. Sorry.

https://aliexpress.ru/item/40010426...earchweb0_0,searchweb201602_,searchweb201603_

 

Sorry I don't know why I said 1883 Morgan its actually a 1893 S Morgan

 

Here's a pic of the coin I'm talking about

 

Yea unless it happens to have been stuck in some amount of silver, it’s relatively worthless.

I had a handful of “copy” quarter and half eagles that I managed to sell for no more than $7, free shipping on eBay.

replica coins are simply not collectible for the vast majority. Your coin is likely not even silver plated

I would estimate your coin value to be NO MORE THAN $5.

If you spent the $30+ to get it graded, it would be return to you. Ungraded and you would have wasted your money

keep it if you like the look, but it is really worth very little

 

I weighed it its only off by a gram

 

It's off by a gram plus the weight of the 2x2 and staples. You have to remove the coin from the 2x2 before weighing

If you paid $40, you need to take it back to the dealer immediately. You may want to hold off on buying expensive coins until you have some more experience. Your coin is a fake and not very good at that.

Edit to Add: Just saw the pic on a larger monitor after some coffee. It says COPY on the reverse!!!!.

 

I agree.. Then stop buying garbage from that dealer!

 

At $40, you got hosed, and I just wanted to know who I should avoid. I think maybe both of you. ~ Chris

 

I bought 3 of this series for $9 a few years ago. Sold the 1893 S for $8. So I’m into these for 50 cents ea. Advertised as ‘silver clad’

 

Ok thank you for teaching me about this

 

It all depends on what it is a copy of, when and by whom it was made. And, no, this is not worth grading.

 

i would bet that it's magnetic!! put a magnet by it see if it sticks

 

So what does it mean if it does stick?

 

It means it is made of iron and at most silver plated

 

Ok ill put it to a magnet to see if it sticks

 

Yea it sticks to a magnet

 

Hmmmmmmmm...souvenir coin, gift shop.

 

Bradford Exchange and those types of mail-order companies often sell these so-called "Tribute Proofs"

They are usually $49.95, marked down to a special collector's price of $9.95 with free shipping.

They are sort of neat if you're into that kind of thing. For example, some people who simply can never afford a Saint Gaudens double eagle will opt for a $10 replica because the enjoy the look and appearance of the replica coin.

No collectors should be shamed or be embarassed of what they collect. However, it is important to temper expectations when buying these replicas:
1. They are of virtually no value. Some are copper with a thin silver plating, at which point they are worth copper bullion value. Some are iron, which is also "worth iron bullion value" but that's so low it's not even worth it.

2. Resale is extremely difficult. You can sometimes see these being sold in Local Coin Shops for a buck or two. However, odds are that the coin shop did not pay for them, rather they just took a bulk collection which happened to have a few of these.

3. If you do manage to resell, profits are exceedingly low. I had a handful of these types of coins which I sold on eBay for anywhere between $5 and $7, free shipping. Shipping cost $3.18, and there's fees, so at the end of the day you're only making a dollar or two, max.