Is this fake ?

Page 413 in the Red book says the last one sold for $1.8 million dollars. You purchased one of the most copied examples of a coin of all time. This is about the 5th time I've responded to one of these 1804 $1 finds by a newbie. Geesh! If people are fooled by these, there's no hope for the hobby.

 

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Well...that's easy to say when you have been doing it for so long. Young/new collectors see an affordable old coin and they jump on it before they really know what they are looking at. We were all new at one time and I assume we all learned the hard way a time or two. One of my dental instructors told my class early on in our education that some faculty will be hard on us and it may not seem fair. I will never forget the reason for this he gave us...he said "When you have been doing something for so long, it's difficult to remember what it was like before you knew how to do it." I think this statement is true for us too. Those of us who have been collecting for a long time can easily forget what it was like when we were new and didn't posses the knowledge we have today. This may have been obvious to you and I...but for many new collectors it is not.