Counterfeit coins are nothing new to the world of coin collecting; they have been around for centuries (if not millennia). To avoid getting duped by an unscrupulous coin dealer or collector into unknowingly purchasing a counterfeit coin, there are a few basic tips that can help
- Opposites attract
Magnets are not attracted to elements such as gold and silver. Therefore, if a magnet is cozying up to the newest addition in your coin collection, its more than likely a fraud. Many Chinese counterfeit coins are magnetic, and it’s a dead giveaway if a silver-looking coin is attracted to a magnet. A strong Alnico magnet (see the figure) works well for counterfeit detection and can be purchased online for a few dollars.
2. Size Weight of the Coin
Look for density consistency , coins processed by the actual government mints will have consistency in weight , thickness and diameter, and still old circulated coins that are heavily worn will not have the same weight as ones that are in better condition, coins can be off by as little as few grams , so even if it looks like a real coin, the measurement will not add up. The diameter and thickness may be the same, but if the density is off, the coin may not real.
3. Markings
There may be markings, intricate designs, or interesting textures that are associated with a particular coin series. However, counterfeit coins may have casting seams around the side of the coin edge and the periphery, that even the naked eye can usually spot. Counterfeiters have a hard time getting the relief of a coin just right. Typically they are too high or much too low. A prospective buyer can test the authenticity of a coin by stacking it up with coins from the same series. If you notice this, the coin usually may be a fake.
Coins that have “Added” or “Removed” mint marks. Fake rare date and mintmark coins may have removed or added mintmarks, like a 1922 penny. A 1922 penny ( with no mintmark) is rare but the 1922 D penny is not. Counterfeiters will try to remove the D on the 1922 D Penny to fool the buyer/dealer/investor into thinking it is a “1922 plain” with no mintmark.
