How much fraud in edge lettering errors?
Coinsponge
Posts: 3,927 ✭✭✭
I am just suspicious that a good amount of fraud is going on with the Presidential Dollar edge lettering errors. It seems to me that someone could fill in the letters for a smooth rim and a tallented engraver or machinist could create double lettering with the right equipment. Am I not trying to throw cold water on the enthusiasm that these coins inspire but I think that for each person that gets burned in a fraud there is one less coin collector in the future. Can the TPGs spot these frauds if they exist?
Gold and silver are valuable but wisdom is priceless.
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Personally I don't see the edge errors as attractive, rather results of poor production standards.
And yes I agree very easy to fake these, especially the missing edge lettering ones. But I think that PCGS, NGC, and a few others can detect it.
<< <i>I am curious as to how many collectors are really actively interested in edge lettering errors, and what their opinion on these are.
Personally I don't see the edge errors as attractive, rather results of poor production standards. >>
I am in your camp but wouldn't any error (even the 1955dd) be a result of poor production standards?
<< <i>If you don't find it yourself then buy one that has been graded by one of the top tier TPG. IMO
And yes I agree very easy to fake these, especially the missing edge lettering ones. But I think that PCGS, NGC, and a few others can detect it. >>
i agree, you gotta watch out for the 'dremel tool variety' best to get a slabbed version.
<< <i>I am just suspicious that a good amount of fraud is going on with the Presidential Dollar edge lettering errors. It seems to me that someone could fill in the letters for a smooth rim and a tallented engraver or machinist could create double lettering with the right equipment. Am I not trying to throw cold water on the enthusiasm that these coins inspire but I think that for each person that gets burned in a fraud there is one less coin collector in the future. Can the TPGs spot these frauds if they exist? >>
The scammers quickly found out how easy it is to detect a phony. What you describe results in a machined surface--which coins never have. TPGs, dealers, and collectors that know this serives can spot them a mile away. Here is a photo:
<< <i>I am curious as to how many collectors are really actively interested in edge lettering errors, and what their opinion on these are. Personally I don't see the edge errors as attractive, rather results of poor production standards. >>
Many. I still get inquiries about these several times a week and sell 2 or 3 a week. I just shipped 10 MS66's to one customer. Lots of people waiting for the Jefferson Smoothie.
"...poor production standards." sounds like your opinion to me.
--jerry
<< <i>Am I not trying to throw cold water on the enthusiasm that these coins inspire but I think that for each person that gets burned in a fraud there is one less coin collector in the future. Can the TPGs spot these frauds if they exist? >>
Yes the TPG's can spot these frauds and the fact of the matter is that, coin collecting has survived for hundreds of years right along side all the frauds and scammers that co-exist with it. It occurs in every facet of collecting and is nothing new nor is it isolated to the coin collecting community.
If a person really wants to collect, they will find a way to do so.
Personally, I have no worry over future generations of collector's as they will be here just as sure as the next sunrise because people just collect stuff. They always have and always will.
The name is LEE!
in the future all the prez bucks will have smooth edges...........................because of so much circulation