Identifying fake coins
Toma
Posts: 58 ✭✭✭
Hi.
As a beginner who has been burned by counterfeits before I've been trying to figure out how to identify the fakes and I can proudly say that some poorly made counterfeits cannot get past me. Unfortunately the only way I can identify fakes is by the sharpness of some letters and gut feeling. My mediocre intuition can only get me so far so I come to you for help. Would you kindly post photos of counterfeit coins and explain how you know they are fake? I'd prefer to practice on Morgans and pre33 gold but whatever knowledge you have to share will be appreciated. Thank you.
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I recommend Bill Fivaz's Counterfeit Detection Guide, the Whitman Guidebook: United States Gold Counterfeit Detection Guide and The Official Guide to Coin Grading and Counterfeit Detection, 2nd Edition. These publications provide a wealth of information and pictures. Cheers, RickO
Get a copy of the book used for the ANA's correspondence course (try amazon.com or ebay):
J. P. Martin/Detecting Counterfeit and Altered U.S. Coins
Get the following from David Lisot (coinvideo.com):
ANA: Detecting Counterfeit and Altered U. S. Coins [2 DVDs] (J. P. Martin)
ANA04-017: Counterfeits, Fakes and Phonies (Michael Marotta)
However, you really need to see totally fake and altered coins in hand--study the denticles, surface textures, lettering, etc. Also realize that you cannot detect even a so-so counterfeit unless you really do know the characteristics of genuine U.S. Mint products. Even after spending a lot of time studying, it is unlikely that you would be able to spot a skillfully made counterfeit---these can and do fool professional graders in some cases.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Thanks for the advice, I had no idea they had books on counterfeits.
I have gotten pretty good at spotting fake $2 1/2 Indians, but I don't know if I can explain very well other than saying they look mushy and just not right. The only way you can get good at spotting them is by looking at good examples over and over and over. I can't spot fake of other denominations as well, because I don't look at/collect them as much.
I will post some images and explain what to look for. Unfortunately, the best thing is hands-on experience and you can get a big push ahead by attending a counterfeit detection seminar.
I don't have the time to tell my "hilarious" (only in hindsight) story of how the First Rule of Counterfeit Detection" posted below was formulated. It should have been very obvious prior to 1973 but true professional coin authentication was in its infancy back then and most practitioners were knowledgeable coin dealers. Few folks were passing on their knowledge as is done so universally today.
The most important requisite to authenticate ANYTHING is to know what the genuine item should look like.
So while you are studying the sources mentioned above (I'll also add the PCGS reference to the list), look at as many genuine coins as you can using magnification and florescent light. A stereo microscope will be needed if you wish to get proficient. And when I say "LOOK," that means spend some time examining every detail of the coin's surface.
You'll also need to learn how coins are made - the minting process. This is extremely importan and should be LESSON #1. It will be a long fun journey for you.
Get the following if you are interested in learning how coins are made:
James Wiles/The Modern Minting Process & U.S. Minting Errors and Varieties [ANA Correspondence Course text]
Roger Burdette/From Mine to Mint
If you have a bit more cash (this is out of print, and expensive):
Dennis R. Cooper/The Art and Craft of Coinmaking: A History of Minting Technology
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Last year I went to an ANA seminar on detecting counterfeit coins. The seminar seems to be offered at major shows around the country.
I really enjoyed the whole experience, meeting and talking to other collectors, talking to the instructor, learning/relearning about how counterfeits are made and how to detect them.
If you have the opportunity to go to one of these seminars I would highly recommend it.
The Summer Seminars in CO are one of the best times you can have around coins and collectors!
In the meantime just but certified coins. Even then be careful of counterfeit slabs. And buy from trusted dealers.
I have been planning to go for the last several years but things always gets in the way. I will try again next year. But might have to wait a few years, until I retire.
In 1976 When I was 13 I went to the ANA summer seminar. Things were very different then, my father dropped me off on the curb at Fort Lauderdale Airport, I checked myself in on Braniff, changed planes in Dallas. and got to Denver just fine. I had a blast.