Bought a Bunch of Coins at an Auction…..Need Help 0

[WilliamNye]

This has probably been posted dozens of times but I am new to the world of coin collecting so of course I want to know the burning question of is it real?

[Sandon]

   This is almost certainly a replica of a "Continental Currency dollar".  While the original pieces are quite rare and valuable, huge quantities of copies and replicas have been made and sold as souvenirs over the years.  They have little or no value.  Based on its color, rough surface, poor detail despite a lack of wear, and comparison with photos of genuine pieces, your piece is one of the copies or replicas.  If there are established coin dealers in your area, you could show your piece to them for an opinion, but I highly doubt that any experienced numismatist would think this one genuine.

   There is an old expression, "buy the book before the coin".  If you are "new to the world of coin collecting", you shouldn't be buying "a bunch of coins at auction" without the knowledge to assess the authenticity, condition, and value of what you are buying.  Learning about coins can itself be enjoyable and is essential to success as a collector.  I have posted the following article identifying some of the print and online resources that will enable you to gain essential knowledge: 

 

[RWB]

Top post -- counterfeit. Waste of staples.

Another good reason to put counterfeit makers in jail and confiscate their tools of fraud. This particular fake has been around for nearly 2 centuries. but the Chinese and Colorado fakes are working their way into every sort of sales and scamming venue.

[EagleRJO]

On 9/4/2022 at 3:56 PM, RWB said:

Waste of staples

Gotta love that comment 

[VKurtB]

On 9/4/2022 at 2:56 PM, RWB said:

Top post -- counterfeit. Waste of staples.

Another good reason to put counterfeit makers in jail and confiscate their tools of fraud. This particular fake has been around for nearly 2 centuries. but the Chinese and Colorado fakes are working their way into every sort of sales and scamming venue.

Roger, you really do need to stop slandering the gentleman from Colorado. Your interpretation of the counterfeiting statutes is at odds with written guidance FROM THE UNITED STATES TREASURY DEPARTMENT!

Robert R. Van Ryzyn has an article in the August 30, 2022 issue of Numismatic News (page 18) d that explains it all WITH QUOTES FROM THE TREASURY. 

[WilliamNye]

So this is a good fake? What’s it worth?

[VKurtB]

On 9/4/2022 at 7:00 PM, WilliamNye said:

So this is a good fake? What’s it worth?

Nada, zip, zilch, nuttin’.

[bsshog40]

My wife's grandpa had one of these that he got back years ago. I posted it here a few years ago and yep, a cast copy. Just like the one above. 

[RWB]

On 9/4/2022 at 8:00 PM, WilliamNye said:

So this is a good fake? What’s it worth?

Your fake is worth nothing. It is an amusement -- a souvenir -- a common rip-off -- a lie in cheap pot metal.

[JKK]

On 9/4/2022 at 5:00 PM, WilliamNye said:

So this is a good fake? What’s it worth?

A good laugh (with you, not at you).

Seriously. What you need to know is that this type of fake is a frequent flier here, with about two per week and people wanting to know if it's real. It nearly never is (much fun giving the bad news; some people debate with us about that and try to demand we validate their misunderstandings). The hard part for us (which some do not bother with) is to remember that while we longtimers may have seen hundreds of bad cast counterfeits and less bad but clear replicas over the years, the new poster comes to us with an honest question and hasn't seen the last couple hundred phonies we saw. They have no idea it's a Standard Noob Post and that is not the new poster's fault.

So your best bet is to have a laugh, give it up, and check off a key step on the numismatic learning ladder. Other key steps include never buying coins off Etsy for any reason, never basing value perceptions on the offering price, realizing that everyone's copper 1943 penny is somehow faked, and realizing that most doubling is mechanical (earning no premium) rather than die (which would be a premium coin). We have all passed through them in one way or another, though we do have a couple people who don't seem to absorb the new information.

Edited September 5, 2022 by JKK

[EagleRJO]

That coin just looks all wrong.

Edited September 5, 2022 by EagleRJO

[EagleRJO]

On 9/5/2022 at 12:37 PM, JKK said:

Other key steps include never buying coins off Etsy for any reason, never basing value perceptions on the offering price, realizing that everyone's copper 1943 penny is somehow faked, and realizing that most doubling is mechanical (earning no premium) rather than die (which would be a premium coin).

Amen, and add to that list that all raw coins on eBay are either fakes, harshly cleaned or over-graded, and everybody's small date 1982-D penny is copper-plated which  they haven't checked with a calubrated scale.

Edited September 6, 2022 by EagleRJO

[VKurtB]

On 9/4/2022 at 7:00 PM, WilliamNye said:

So this is a good fake? What’s it worth?

I’ll just bet this is NOT the most interesting coin of the bunch. Something else MUST be. 

Edited September 6, 2022 by VKurtB