fake coins

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01-20-2015, 11:37 PM
Post: #1
fake coins
(This post was last modified: 01-20-2015 11:59 PM by bulletbob.)
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Just got home from my metal detecting club meeting . Two of the guys showed us coins that they brought at a show . The first guy paid $20.00 for a morgan dollar and the 2nd guy paid $50.00 for a draped bust dollar.Both coins are fake and are magnetic. The coins look prefect and where also rate . So think about what the coin looks like , and check with a magnet before buying. Do a search on the internet and see how common this is.

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01-21-2015, 12:17 AM
Post: #2
RE: fake coins
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Counterfeit coins are out there, most come from China , you must be careful when buying now days. Some look really off but others hard to tell if they made them out of correct metal and weight it could fool a lot of collectors.

biggredd1972, proud to be a member of Treasure Classifieds Forum since Jul 2013. Proud to be using a White's DFX with sunrayDX1 inline probe.Newly added in Jan/2015 White's V3I.
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01-21-2015, 12:28 AM
Post: #3
RE: fake coins
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Good post Bullet! ALWAYS carry a good magnet with you!

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01-21-2015, 02:48 AM
Post: #4
RE: fake coins
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Bummer they got scammed at a coin show!!

Thanks for sharing!
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01-21-2015, 08:20 PM
Post: #5
RE: fake coins
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(01-20-2015 11:37 PM)bulletbob Wrote:  Just got home from my metal detecting club meeting . Two of the guys showed us coins that they brought at a show . The first guy paid $20.00 for a morgan dollar and the 2nd guy paid $50.00 for a draped bust dollar.Both coins are fake and are magnetic. The coins look prefect and where also rate . So think about what the coin looks like , and check with a magnet before buying. Do a search on the internet and see how common this is.

A Morgan for $20? Maybe a 1921 in circ cond.

but a Draped Bust $1 for $50!?

Try a $1000 MINIMUM for anything authentic with any sort of detail left on it

Pays to educate oneself when it comes to numismatics

I know a guy that bought a professionally graded Bust $1 on eBay and it turned out to be a fake... Turns out that the scam artist he bought it from heated up the slab of a REAL 1801 Bust $1 - took the real one out and then replaced it with a fake, glued the slab shut again and sold it for $750 to the guy I know

(good way to build your own collection for free and become a millionaire in a hurry) IF you want to take the "risk" of getting caught and going to a federal prison for a while!!

But

that's the kind of scams going on out there = "buyer beware"

MichiganRelicHunter, proud to be a digger since 1977
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01-21-2015, 08:27 PM
Post: #6
RE: fake coins
(This post was last modified: 01-21-2015 08:28 PM by NjNyDigger.)
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(01-21-2015 08:20 PM)MichiganRelicHunter Wrote:  
(01-20-2015 11:37 PM)bulletbob Wrote:  Just got home from my metal detecting club meeting . Two of the guys showed us coins that they brought at a show . The first guy paid $20.00 for a morgan dollar and the 2nd guy paid $50.00 for a draped bust dollar.Both coins are fake and are magnetic. The coins look prefect and where also rate . So think about what the coin looks like , and check with a magnet before buying. Do a search on the internet and see how common this is.

A Morgan for $20? Maybe a 1921 in circ cond.

but a Draped Bust $1 for $50!?

Try a $1000 MINIMUM for anything authentic with any sort of detail left on it

Pays to educate oneself when it comes to numismatics

I know a guy that bought a professionally graded Bust $1 on eBay and it turned out to be a fake... Turns out that the scam artist he bought it from heated up the slab of a REAL 1801 Bust $1 - took the real one out and then replaced it with a fake, glued the slab shut again and sold it for $750 to the guy I know

(good way to build your own collection for free and become a millionaire in a hurry) IF you want to take the "risk" of getting caught and going to a federal prison for a while!!

But

that's the kind of scams going on out there = "buyer beware"

Wow!!! Great story, Wayne! I got dolla signs rollin in front of my eyes!!! Gonna make it rain up in this beyotch!!!!!!!!!! Lol Rofl

Joe

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01-21-2015, 08:41 PM
Post: #7
RE: fake coins
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Yeah Bob that was a good discussion the other night.
One other member (from saame club) won a silver dollar in a NY hunt a few years back and just happened to hit the coin with a magnet on his key chain. It stuck right there in front of the folks who were handing out the coin prizes. They checked all of there dollar coin prizes and found another one.

Bigtony

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01-21-2015, 09:38 PM
Post: #8
RE: fake coins
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(01-21-2015 08:27 PM)NjNyDigger Wrote:  Wow!!! Great story, Wayne! I got dolla signs rollin in front of my eyes!!! Gonna make it rain up in this beyotch!!!!!!!!!! Lol Rofl

Joe


Joe -

you're freekin hilarious man!!

I'd love to spend a day or 2 hunting and BS'ing with you!

You make me bust out LoLoL in my chair -- time and time again!

Something to do with that east coast attitude/humor "clicks" with me!
(same as that west coast attitude/humor Ray has)!

YesYesBeer

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01-21-2015, 10:17 PM
Post: #9
RE: fake coins
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(01-21-2015 09:38 PM)MichiganRelicHunter Wrote:  
(01-21-2015 08:27 PM)NjNyDigger Wrote:  Wow!!! Great story, Wayne! I got dolla signs rollin in front of my eyes!!! Gonna make it rain up in this beyotch!!!!!!!!!! Lol Rofl

Joe


Joe -

you're freekin hilarious man!!

I'd love to spend a day or 2 hunting and BS'ing with you!

You make me bust out LoLoL in my chair -- time and time again!

Something to do with that east coast attitude/humor "clicks" with me!
(same as that west coast attitude/humor Ray has)!

YesYesBeer

Anytime, my friend Wink Ray is a TRIP! I like that he DOESN'T censor himself. It's honest. Whatcha see is whatcha get. Not everyone might get it, some might take offense to it, but it ain't bullshit. My outlook is the same. Take me or leave me!!! Lol Yes

Joe

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01-22-2015, 01:07 AM
Post: #10
RE: fake coins
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(01-21-2015 02:48 AM)Ron (CA) Wrote:  Bummer they got scammed at a coin show!!

Thanks for sharing!

Hey Ron...remember TimmysBeer April fools joke on the Kinzli forum? Yeah,they csn look real,lol.Ray

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