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Counterfiet US Gold Coins - Showing Up All Over Austin, Texas

Started by Haggai 2:8-migration,

19 posts in this topic

Haggai 2:8-migration

Haggai 2:8-migration

Posted
Posted

Is anyone experiencing a rash of counterfiet US gold coins showing up recently. I sent 7 coins to NGC and received 3 AU's and 4 body bags. The coins were 1850 $1.00 gold Liberty,1878 $3.00 Indian Princess, 1905 $2.5 Liberty and a 1915, $5.00 Indian Head. To add to it, I just purchased a beautiful $10 gold Indian Head from one coin dealer and took it to another local coin dealer to show it off. They told me it was a copy. Times are tough, but what is going on in this coin market. The coins are beautiful, but fake. I'm not going to purchase any more raw coins, been burned big time now! Is this a new Omega Man or one of our "so called" allies in the Far East.

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The Black Hand ®

The Black Hand ®

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That is indeed a terrible thing to happen, but this is the wrong forum.

HUH?? This is the US coins forum!! Where are you at? lol

 

He's in a galaxy far, far away. :grin:

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DaveG

DaveG

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Sorry to hear that you've run into a rash of counterfeit gold.

 

The coins you've cited are all commonly counterfeited and I'd be wary of buying them raw - unless I was buying them from a trusted (and skilled) dealer.

 

Speaking of that - how do you know that the second dealer was right about the gold Indian Head eagle and the first dealer was wrong?

 

Also, have you taken the coin back to the dealer who sold it to you?

 

As far as whether the coins are new or old counterfeits, did you weigh and measure them? If their specs are right (or about right) they may have been made in the Middle East in the '50s or '60s when gold was inexpensive and gold coins traded at a premium to gold bullion.

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MarkFeld

MarkFeld

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Posted
Is anyone experiencing a rash of counterfiet US gold coins showing up recently. I sent 7 coins to NGC and received 3 AU's and 4 body bags. The coins were 1850 $1.00 gold Liberty,1878 $3.00 Indian Princess, 1905 $2.5 Liberty and a 1915, $5.00 Indian Head. To add to it, I just purchased a beautiful $10 gold Indian Head from one coin dealer and took it to another local coin dealer to show it off. They told me it was a copy. Times are tough, but what is going on in this coin market. The coins are beautiful, but fake. I'm not going to purchase any more raw coins, been burned big time now! Is this a new Omega Man or one of our "so called" allies in the Far East.
If possible, you should politely, but firmly, insist on getting your money back from the sellers. Legally, you are entitled to that if the coins are counterfeit.
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PerryHall

PerryHall

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Counterfeit U.S. gold coins have been in the coin marketplace for several decades now---especially small gold $1, $2 1/2, and $3 gold coins. Certainly this is nothing new, Anyone that doesn't know how to expertly authenticate gold coins should stick with NGC or PCGS slabbed coins from a reputable dealer. Unfortunately, many counterfeits are very well executed and will fool many dealers who are not expert authenticators.

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TonerGuy

TonerGuy

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I think its all too common. I was at one show standing next to a guy trying to sell a gold coin. He was told by the dealer that it was a fake... so he says "oh well" and walks away.

 

10 minutes later I am at a different table and he walks up and sells it to dealer #2 for $350.00.

 

I have no idea if it was or wasnt fake so I wasnt about to but in, but how many dealers even fail to spot fake raw gold.

 

I would never buy raw gold after seeing that and reading this post...

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MarkFeld

MarkFeld

Posted
Posted
Counterfeit U.S. gold coins have been in the coin marketplace for several decades now---especially small gold $1, $2 1/2, and $3 gold coins. Certainly this is nothing new, Anyone that doesn't know how to expertly authenticate gold coins should stick with NGC or PCGS slabbed coins from a reputable dealer. Unfortunately, many counterfeits are very well executed and will fool many dealers who are not expert authenticators.
In addition to that, there is the more recent problem of counterfeit coins being offered for sale in counterfeit NGC and PCGS holders. So, if you don't know your coins, you'd better make sure that 1) the person you buy from, does, and 2) that he's honest.

 

 

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michael

michael

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since 1960's early 1960's in lebanon and many places continuing to this day

tons of fake gold saints, indians 10 5 2.5 libs etc

 

3 dollar gold have bebn faked and some are really good but most are ALL KNOWN and the services pcgs/ngc can easily tell same with many top dealers

 

i see with the run up of gold they are coming out of the woodwork like rats to be sold

 

i am sure some sellers and buyers know they are fakes and most all dont especially so the sellers

 

 

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Vistula-migration

Vistula-migration

Posted
Posted
Is anyone experiencing a rash of counterfiet US gold coins showing up recently. I sent 7 coins to NGC and received 3 AU's and 4 body bags. The coins were 1850 $1.00 gold Liberty,1878 $3.00 Indian Princess, 1905 $2.5 Liberty and a 1915, $5.00 Indian Head. To add to it, I just purchased a beautiful $10 gold Indian Head from one coin dealer and took it to another local coin dealer to show it off. They told me it was a copy. Times are tough, but what is going on in this coin market. The coins are beautiful, but fake. I'm not going to purchase any more raw coins, been burned big time now! Is this a new Omega Man or one of our "so called" allies in the Far East.

 

Do you have pictures of these fakes?

One of my main reasons for buying only slabbed coins is to avoid fakes, even though there are fake NGC holders, but I've seen them and know what to look for.

 

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messydesk

messydesk

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A good 10-12 years ago I was at a show looking at dollars and dealer was asking what I will assume was a good, long-term customer if he was interested in any $2 1/2 or $5 Libs, not from a US mint. He had a small box full of them.

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PerryHall

PerryHall

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I've seen that an Indian Half Eagle should weigh between 8.2 and 8.3 grams. Does anyone know the weight of an Indian Quarter Eagle. Is it safe to assume that it would be between 4.1 and 4.15 grams?

 

The quarter eagle weighs half as much as a half eagle which weighs half as much as an eagle which weighs half as much as a double eagle. The weights were proportional to their face value.

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