OLD POST ON 1877-S INDIAN CENT
pontiacinf
Posts: 8,915 ✭✭
Im not sure if your remember a while back i autored a post on "why shouldnt I buy this?"..well this month Coin world has a story on that very coin. I contacted thje seller, i knew it was conterfiet but wanted anyhow. He told me that he was gonna submit to anacs for their opinion. the story is on page 36.
Go BIG or GO HOME. ©Bill
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Pontiacinf,
Actually, I started the post on July 7, 2002 to which you initially seemed to believe it was legit.
I will bring it ttt.
Regards.
Thank you for your attention.
He said that ANACS' observations on fake $3 gold Indian Heads shows that combinations of fake dies were used. They don't produce coins until the dies wear out, but create between 10 and 200 fakes at one time then put the dies away for a while. This is because of the economics involved. If they created 10,000 at a time, they have to pay for all the blanks up front, and figure out how and where to store the unsold fakes. Especially with gold, the cost of blanks would add up in a hurry.
He thought that the 1877-S would have resulted from a mistake in choosing the dies, since they have seen the same reverse on fake 1909-S IHCs.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.