Counterfeit question
Rlenno
Posts: 3 ✭
Hello,
I’m thinking of starting a coin collection and I was wondering something. I’ve been doing a lot of research and there are lots of videos on how to spot fake coins. I don’t want to deal with fakes, but I’m also not looking to spend a lot of money right off the bat. My question is if a coin is in a plastic protector with PCGS/NGC label, can I assume it is real and not counterfeit?
Thanks for the help
Ryan
0
Comments
There are counterfeit slabs in the marketplace. Buy your coins from a well established dealer until you gain some knowledge and experience.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Ryan,
Welcome to the forums! I hope you stay and participate ... and let us know what cons you are collecting (this forum has a vast array of collectors).
Sticking with PCGS or NGC graded coins is a real bonus when it comes to counterfeits, but be aware there also counterfeit holders. This isn't a really big problem, but remember, if it sounds too good to be true, it probably is.
Also, many coins are not counterfeited, as the cost is just not worth the reward. However getting to know the look and feel for the surfaces of the coins you like is important in helping identify fakes. If you can take reasonable mages, there are a lot of people here who can chime in and help. I don't think you'll be able to post images for a few days.
Good luck ... and happy hunting!
Todd
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I’m definitely not looking for anything special. For right now I just want to start with coins that are not the common coins in circulation, half dollars, and the like. I’ve seen on one of the videos that there is an app that listens to the pitch of the coin when it is hit to see if it’s real or not. Does anyone have any experience with that? If that proves to be effective then I would be more willing to look on eBay and see what they have.
If a friend was interested in starting to collect coins, and asked my advice, off the top of my head I'd ask:
What area interests you?
Why do you like that area?
What is your goal, if any?
What is your budget?
Once you know what you're drawn toward, spend a little time researching that area. Search this forum for topics that pertain to your area of interest.
If you want really helpful advice, let us know what area you are most interested in. There are pitfalls that every new collector will encounter. And there are pitfalls for every type and era of coinage. For example, you're not going to find a lot of counterfeit 1965-2022 quarters out there. But if you're interested in pre-1933 American gold coins or key date high grade early Lincoln cents, buying only PCGS or NGC certified coins will offer you the best protection. The members on this board with centuries of combined knowledge can offer specific, helpful advice on pretty much every coin ever minted.
--Severian the Lame
Silver coins make a distinct ring when dropped on a hard surface, for sure. Once you know the sound it is fairly unmistakable. Of course, if they come in a holder, of any kind, even a cardboard flip, that test is useless.
Circulated Walkers and Franklins, and even Barbers can be found in relative abundance, and without much worry, but I would consider a trip to a local show or shop to get a feel for what looks right. Ask about counterfeits and see what the respondents tell you.
Go slow. Get a couple books, and use the internet to help. Sites like this one and PCGS Grading can be very helpful
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
@Rlenno.... Welcome aboard. Good advice above. I would also recommend getting a Redbook... Available at bookshops or online. It is a tremendous help for new collectors. Cheers, RickO
You could check the Buy Sell Trade section of this forum. Somebody may be selling the coins you want.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
....and you can post what you are looking for on the BST Forum. Be careful dealing with members who are not well established. We've had a few scammers use the BST to rip-off other forum members.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Learn before you buy. If you are not certain of a coin's authenticity don't buy it. This forum is a good learning tool. Read through it and get a feel for which posters know what they are talking about. There are many very experienced collectors and dealers on this board.
Unfortunately there are a few very deceptive struck counterfeits in genuine TPG holders out there; great advice already in this forum but a good point about examples in genuine TPG holders is the TPGs do guarantee the authenticity of what they certified and holdered.
Thanks for all the info, definitely helpful in my start. Are there coins that are pretty safe in starting with? Maybe something like a Kennedy half dollar or are there fakes of those out there too?