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Sunday, December 20, 2009

Detecting Counterfeit Coins



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I have 12 blog writing on "how to detect counterfeit coins". The blogs are for the novice to the professional collector. Anyone wishing to buy coins should know these sure sign tales of counterfeit coins. Listed in the blogs are the most popular counterfeited coins. All of the coins are extremely expensive. Be a
Smart buyer. Know what to look for. There are many scams out there. If it is "too good to be true it is not for you." This was another one of my Pop's famous quotes.
There are three side to every coin. Each side must be evaluated for the original coin focal points. The obverse, reverse, the edge. The coins focal points, will tell you the coin is real. I have seen many counterfeit coins that coin dealers have collected over there life time. One club I belonged to, we did an experiment. 14 top collector of this cub acted as judges deciding which coins were counterfeit or real. Now most of the people, who were judging, have been dealers and collector for 30 years, each one I highly respected in the coin business. We showed each one 10- 1909 s VDB Lincoln head penny. Only one coin was counterfeit (which we didn't tell them how many counterfeits there were). After several hours of examination, here are the results.
      One person picked the counterfeit coin out, but also had two others which he said were counterfeit. Eight people had all of them real. Two people had three coins counterfeit. The rest did not have a clue. This coin has several different die strikes which makes it very difficult to tell.  This was a sure tells sign, to me and should be for all, that when buying a popular high grade expensive coin, you must have the coin graded by one of the top three graders. PCGS-NGC-ANACS.

Watch for my Blog on an evaluation of each one of these grading companies.

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