First off, Thanks for the well balanced approach and responses from all of you. Wish I had joined this forum a long time ago. Great points that I will remember Capone.
I have to say, I have starred at pictures of the real coins and have even counted the scales, dots etc until my eyes hurt. The angles of the lettering and the intricacies are damn good. If it is counterfeit, (likely) then kudos to the artist who copied it, I would say a master of his/her craft. Of all of the pictures of counterfeits, this one would win top prize from what I have seen. There are a lot of suspect spots on this coin I agree. The strike on the obverse seems weak and some things are not showing, but what is showing in these troubled spots are in their correct positions from what I can see. However my mind is also thinking, this was supposedly struck in 1907 and Even now the modern Mints still do not get their coins struck perfectly. I have current coins that are 2017- 2018 that have absolutely no detail due to die deterioration, weak strikes etc. Justification I know, hehe. And I agree that the cons outweigh the pros. The reverse seems a little flat to me. But comparing it to circulated silver coins worldwide from the same era, I see what appears to be normal wear. Another layer to peel.
jgenn, the weight of this coin is 34.4 grams and it is non magnetic. Another layer to peel as I have read that weights have been recorded from 28.8 grams to 50.0 grams, what most say is this should weigh, 50 grams. So it is a little light, and more than the normal tolerable limit.
The history that I know of this particular coin is that it was given to me in the early 80's because I was born the year of the dragon. I put it in a cigar box with a few others and forgot about it. I found it again a few months ago and started researching to see what it actually is, or supposed to be. It has at least not had normal wear for a little over 20 years. And the person who gave it to me said it was in their family for as long as they could remember. At that time I thought it was just a so called lucky coin. I had no idea it was even silver, or what it is supposed to be. I have always loved the obverse design and that is why I kept it.
In the end I thought about having it graded, just to determine if it is authentic or counterfeit. I have never done this so I am researching this option as well. I just don't know enough about these and there are to many variables with Chihli's. The research has been fun and I have met some nice people along the way so it has been worth the effort so far.
I pulled these pics of a known real coin from NGC resources.