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Counterfeit Silver Dollars (local story)

Know your stuff when buying. Sound, weight and magnet test. Even the simple tissue test!

D**N those Chinese counterfeiters!
 
Know your stuff when buying. Sound, weight and magnet test. Even the simple tissue test!

D**N those Chinese counterfeiters!

Yeah! At our local Coin Club meeting last week, this subject was brought up...lots of counterfeit Morgans and Peace dollars being sold and offered at auctions...some of our members were called into to verify a 'collection' by a local auction house...they of course know a fake from a real one, but they said the average guy off the street would not be able to tell... they even appeared 'old' with wear and tone etc...They said use a strong magnet, do the ping test, then also the weight has to be right...

The fakes were confiscated on the spot...yet, the guy is selling more over CL, flea markets, antique consignment stores and other avenues...and yes, they are coming in from China...
Mud
 
They are making them out of silver now so the magnet, ping and other tests don't apply to the better fakes.. Usually they will do a semi key or key date but damage it slightly or wear them out so it is somewhat more believable.
 
It would blow your mind to see the collection of fakes I've amassed over the past two years. Everything from Fake wheat cents and indian heads to pamp carded gold bars to seated half dollars to shield nickels and everything in between. I have several generations of fake silver dollars, some of which are quite good. A few weeks back I picked up quite possibly the best fake standing liberty quarter I've ever seen.


Check out fakebullion.com for a good reference.
 
These arent anything new...I remember them being around in the 1960s...No one knew then where they were coming from then and no one can pinpoint it now...The Germans in WW II even counterfeited american money...Over all of history if there was money made then someone counterfeited it...Buyer Beware...Know beforehand what you're buying
 
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