Really, really bad news...and a question, of course!
MrEureka
Posts: 24,332 ✭✭✭✭✭
The bad news: Within 50 years, the technology WILL exist to perfectly and undetectably counterfeit any coin. All currently rare coins will PROBABLY become common and worthless.
The question: ASSUMING THAT THE BAD NEWS IS ACCURATE, why would you continue to collect coins? I have my reasons. What are yours?
The question: ASSUMING THAT THE BAD NEWS IS ACCURATE, why would you continue to collect coins? I have my reasons. What are yours?
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Comments
Russ, NCNE
Pennies make dollars, and dollars make slabs!
....inflation must be kicking in again this dollar says spend by Dec. 31 2004!
Erik
Are AT coins "counterfeit "? I say yes based on the definition of counterfeit .
Rare coins may become less collected and hence prices will suffer especially between the bid/ask.
Look at antique furniture, lots of fakes, restorations, etc. and people still collect. Prices between B/A are like today and next year. Spreads of 100-300% are not uncommon. I see the same for coins.
I probably would collect at a much lower level to avoid the financial risk.
http://www.321gold.com/fed/greenspan/1966.html
If I still have them then, I`d probably give them to my younger family members to remember me by. Worth is what your willing to give to it. Maybe having them would give them something that they could touch would help them remember me. Considering my age, I`d may be gone by then.
i most probably will not be alive in 20 years
so i guess for me i really do not care either way
for me forever is 20 years
i will let the people alive deal with the needful things
riches are thorns
sincerely michael
what a great thread!!!!!!!!! i never thought of it like that but i guess in 50 years or even less i am sure you will be able to exactly replicate any federal coin to be virtually undetectable from a real one
and like some currency expect once told me that if you can make a piece of federal currency that is undetectable from a real bureau product then it becomes real!!.................lol
kind of like if a tree falls in the woods and there is no one there to see or hear it fall
it does it make a noise when it falls??
sincerely michael
For every measure there's a counter measure. Back and forth it goes. I seriously doubt it will ever happen.
Frankly in 50 years I will likely be long gone and so will my collection.
in place and every coin worth say over $500 is registered to the service. Coins coming to market that weren't previously fingerprinted will be a more difficult problem but I'm sure that ways will exist to determine them to be fake. The same will be true for nearly every other collectible field. Ways will be created.
To those that already own say an Eliasberg 1884 or 1885 trade dollars, it's safe to say that no pretenders to the throne will be coming to light to challenge them. The provenances to many coins are already well established and documented.
roadrunner
I can't get over the fact that people want a date on the slab. The serial number ranges gives a person an idea of when the coin was graded. If concerned about dating a slab, as soon as it is received a date could be engraved into the plastic by the person receiving the plastic.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
the only flaw in your premise is this------as new methods of counterfieting are developed, new methods of detection will come along. it's just like the current AT craze. nothing to get alarmed about, unless of course you're an alarmist!!
al h.
unrecognizable as fake and this is not limited to numismatics. Surely
todays counterfeits would fool the ancients but they will not fool the
experts. This is likely to continue. There have been tremendous ad-
vances in recent years in identifying metals to their specific origination.
There will likely exist in the near future a method to serial number the
very metal in new coins being produced. It is wise to keep an eye on
the progress made in counterfeiting, but they will probably continue to
lag detection technology by several years.
Of course you know that within 50 years we will all have clones of us (INCLUDING MICHAEL) trying to collect all the possible counterfeits and AT's so that the real us can be left alone to collect the real thing!!
I am surprised at you that you didn't point this out!!