Coin collecters must always keep an eye out for counterfeit coins. Most coins for sale are genuine and sold at fair market value by honest dealers. That said, when a collecter does buy an altered or counterfeit coin the financial hit can be tremendus. Three basic types of fake coins exist: cast counterfeit, struck counterfeit and altered. Some fakes are of such high quality that even experts can be fooled occationally. Most of the time though a knowledgeable collector can weed out the suspicious looking coins.
Struck Counterfeit Coins
A struck counterfeit coins is often hard to detect. Struck counterfeit coins are made using the same process that the mint makes real coins with. Two dies, with the coin’s design stamped into them, are placed in a press. Then a sheet of metal is placed between the dies. The dies are then squezed together to form the “coin.”
A real coin is used as a model for a struck counterfeit coin’s dies. Due the amount of time involved, counterfeiters take a lot of time to ensure accuracy. Most struck counterfeit coins contain die markers, or marks not normally found on a real coin. Struck counterfeits are not exact copies. It often takes a jeweler’s loop and a great deal of knowledge to spot the differences between a real coin and a fake. For this reason coin collecters should know the die markers that are common to a real rare date coin.
Cast Counterfeit Coins
A cast counterfeit, an actually copy of a real coin, is made from a mold is made of both sides of a coin. Molten metal is poured into each half and then the halves are pressed together. This type of counterfeit coin was most often made to fool store clerks prior to the 20th century and were most often copies of silver coinage. Usually the metal used was not silver but a cheap base metal. Many times the dates were common.
Many times cast counterfeit coins are easy for an experienced collectors to spot. Cast copies will have a seam along the edge, as long as reeding was not added after the cast copy was made. If there is reeding, then inspect it closely for completeness and make sure that the reeds are even. Cast counterfeit coins often have a grainy look with lots of small pits in the fields around the design elements. The detail of the design elements will not be clear for the condition. When held in your hand, cast counterfeits have a different feel. Often they feel slimy or like they are coated with oil. The cheap metal used gets warm quickly and if dropped does not sound right.
Altered Counterfeit Coins
An altered counterfeit coin is made from a real common coin that has been altered to look like a valuable coin. This is the easiest way to make a fake coin. Many times tiny scratches will remain on the surface of the fake coin. The surface of the coin will not match the surface on different areas of the coin.
There are many examples of altered coins. 1937-D nickels sometimes have a leg removed to look like the famous 3-legged variety. This would change a coin that is worth a dollar or two into one that could sell for 0 or more. By knowing the diagnostics of the real 3-legged buffalo, you would know to look for the buffalo urinating.
Altering the date is another common way to cheat a collector. A famous example is the 1856 Flying Eagle penny. Only about 1000 real 1856 Flying Eagles were made as presentation pieces. They are extremely valuable. Some counterfeiters alter the 8 on an 1858 penny so that it looks like a 6. This only fools collectors that do not know what the real date looks like on the 1856. The shape and spacing of the real 56 cannot be duplicated with the 58. Anouther example of an altered date would be 1944-D pennies that have been changed to look like the 1914-D. Always check the date area carefully.
Mint-marks are sometimes added or removed to increase the value of a coin. Always look extremely close at the mint-mark area. Coins like the 1922-D penny can have the mint-mark removed easily. This can turn a coin into a 0 fake. Mint-marks are sometimes added to a coins surface. Many 1909-S VDB pennies are really nothing more than a 1909 VDB with the S added.
Most of the time a counterfeit coin can be detected with a good jeweler’s loop and a basic knowledge of a particular coin’s diagnostics. Beware of coins that have tiny marks that are not consistent with the rest of the coin. One of the best defenses against buying fake coins is a collectors instincts. If it does not feel right or the price is to good to be true, do not buy it.
Written by Bert Holopaw