I need a Washington dollar for my type set. Where did you buy yours from? I was hoping for a set with all of the mints, P, D, B(Beijing) and S (Shanghai).
Well I'd say if that's the best the counterfeiters can do including labeling the weird quarter one dollar reverse facsimile, anyone tricked by those should probably reevaluate their knowledge of collecting coins to begin with.
I would use them as hole fillers in a set until I get a genuine example. The big Quarter and Indian Cent don't look like replicas mean't to be deceiving, just fantasy pieces, I know that there is similar bullion coins, did you check if it says silver?
I read an article in the WSJ the other day, so I went to Aliexpress. Anyone who wants to know how scary these fakes are, and how cheap, should go there. They had a 1889 P silver dollar, silver plated, for $1. Pretty decent fake too, and in XF condition. Exactly the type of coin that unless you look really closely at it would fool most. The fakes are quite out of hand, and even very common morgans have to be suspect at this point. I am glad I have a few rolls I bought 25 years ago in the SDB.
The problem with keeping fakes instead of destroying them is when they get passed on or even worse - stolen and make it back into population.
To all of those who "want" any of these pieces of garbage, do you realize the damage you are doing to your own hobby? By buying such stuff you are literally placing money in the hands of counterfeiters, encouraging them to make more. The worst thing you can do is buy a fake if you care about this hobby.
If a "Dollar" with a Quarter reverse is a danger, the problem is not counterfeits; it's collectors who are too stupid to learn about the coins they're spending their money on. And if the US enforced all of the laws already on the books, counterfeit availability in America would cease.
And scares newcomers off because there are so many fakes and lies out there... I tend to agree, if it's not a copy of an actual coin - there's a bit of turning the other cheek, but these thieves do make actual fakes and are probably using the fantasy coins as tests to vet out the real thing. I had some guy try to sell me a 1909-S VDB and it was an obvious fake (fraudulent mint mark was post-mint - destroyed a nice $10 penny!). And because he paid a bunch for it, he decided that he would try to sell it to someone else. I encouraged him to destroy it - and I did report it - but I know where the report went. And I'm sure some guy now owns - yet another fake. He said he wasn't gonna get stuck with it, and got rather aggravated with me. I tried to remind him that someone else is going to do it to him again. Just stinks all around. Destroy them when you find them - and report the ones that knowingly try to sell them.
If those counterfeits went unpurchased, the crooks would find something better - or worse - to do with their time. I know some collect counterfeits. But face it: the overwhelming majority of them are purchased by those planning to run cons on EBay and elsewhere. I'd like for legitimate coin collectors not to add to the demand by collecting the fakes for kicks.
Personal experience. I know a man who was wanting to get into coins. He bought a few old silver dollars from a friend of a friend. When I let him know they were all worthless Chinese fakes, he got pretty upset. He didn't get upset with the seller really, he didn't get upset with the US government, he even didn't get upset with the Chinese fakers. He got upset at "this stupid hobby where everyone is just out to steal from everyone else". He gave up the idea to collect at all, and today he still has not bought another coin. How many thousands or millions of Americans will it take having similar experiences until our hobby simply collapses like beanie babies due to lack of new collectors? THAT is what you are encouraging by buying fakes, even bad ones. Not trying to pick on you personally Dave, just letting everyone know the dangers of buying, (and thereby giving money to), fakes, even bad ones. Every intentional purchase of a fake to me is literally damaging our hobby.
Can't even melt em. Pure crap in my opinion. Best use would be for mosaic work or to do architectural decoration like inlay on a bar top or something of that nature. About all their good for
"These coins do look and feel real..." A 2-headed "Liberty Walking" for $10: http://www.ebay.com/itm/Liberty-Wal...390192?hash=item3a91b0dc30:g:L4EAAOxy3hJSRved
The third party grading companies will be the big winners over time as people pay a premium for the insurance of a guaranty of authenticity. Of course this will increase prices driving away many new collectors which is bad for the hobby.
Even this isn't guaranteed as we've already seen plenty of counterfeits in counterfeit slabs. If TPG's do become the defacto sale method for coins the counterfeiters will just slab all their offerings.