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What is a counterfeit coin?
What’s the most faked coin in the USA? And in the world?
What are the chances you’ll run into a fake coin in your day-to-day life?
Learn it below!
- What is a Counterfeit Coin (Meaning and Definition)?
- What are the Two Main Types of Counterfeit Coins?
- Fake Cast Coins
- Struck Counterfeit Coins
- How to Spot Fake, Counterfeit Coins?
- Gold Coins
- Silver Coins
- Platinum Coins
- Palladium Coins
- A Unique Way to Test Whether Coins are Real or Fake
- What is the Most Faked US Coin?
- Can Gold IRA Coins Be Counterfeited?
- What is the Most Faked Coin in the World?
Here’s an awesome quiz about counterfeited coins. For your best results take it after you’ve read my guide.
Table of Contents
What is a Counterfeit Coin (Meaning and Definition)?
A counterfeit coin is a fake currency piece created to deceive collectors and investors. Counterfeiters manufacture these coins to imitate genuine currency, often aiming for and achieving a 100% realistic appearance.
Counterfeit coins often circulate in the marketplace unnoticed for a long time. Their creators use different materials and techniques to replicate authentic coins, making detection more challenging.
Understanding the signs of counterfeit coins remains vital for anyone involved in coin collecting or investing.
What are the Two Main Types of Counterfeit Coins?
The two main types of counterfeit coins are fake cast coins and struck counterfeit coins.
What are Fake Cast Coins?
Fake cast coins are counterfeits produced by pouring molten metal into a mold of a genuine coin. It’s a popular method amongst counterfeiters as the process is done without any visible damage to the original.
And these counterfeit coins often look identical to their real counterparts. However, a trained eye can (easily) spot the difference.
Fake cast coins often have mold marks, rough spots, and uneven thickness compared to genuine, struck coins. They also have a soft, fuzzy texture instead of the sharp detail of a genuine coin.
What are Struck Counterfeit Coins?
Struck counterfeit coins are fake coins created using dies (molding plates) to press a metal disc (planchet) into the desired coin shape.
This process mimics how real coins are made, making struck counterfeits very difficult to detect.
However, while the coins look identical to the real deal, they’re obviously made with cheaper material and often just touching them is enough to know they’re fake.
Here’s a handful of examples of struck counterfeit coins. Notice how they look 99% identical to genuine coins they’re trying to replicate?
How to Spot Fake, Counterfeit Coins?
You can spot fake counterfeit coins even if you aren’t experienced as there’re some telltale signs.
It also depends on the material the coins are made of.
Gold Coins
You can test gold coins in plenty of ways. You can use water, fire, magnets (real gold is diamagnetic and will never be attracted to a magnet), bleach, nitric acid, vinegar, baking soda.
Real gold will have specific reaction depending on the testing method you use.
For a novice I recommend you test gold coins with water.
I have my guide on checking whether gold is real or fake.
Check it out!
Silver Coins
You can test silver coins in plenty of ways. You can use water, fire, magnets (real silver is diamagnetic and will never be attracted to a magnet), bleach, nitric acid, vinegar, baking soda.
Real silver will have specific reaction depending on the testing method you use.
For a novice I recommend you test silver coins with fire.
I have my guide on checking whether silver is real or fake.
Check it out!
Platinum Coins
You can test platinum coins in plenty of ways. You can use water, fire, magnets (real platinum is paramagnetic and will be slightly magnetized, but the magnetic effect will be invisible to the naked eye), bleach, nitric acid, vinegar, baking soda.
Real platinum will have specific reaction depending on the testing method you use.
For a novice I recommend you test platinum coins with water.
I have my guide on checking whether platinum is real or fake.
Check it out!
Palladium Coins
You can test palladium coins in plenty of ways. You can use water, fire, magnets (real palladium is paramagnetic and will be slightly magnetized, but the magnetic effect will be invisible to the naked eye), bleach, nitric acid, vinegar, baking soda.
Real palladium will have specific reaction depending on the testing method you use.
For a novice I recommend you test palladium coins with iodine.
I have my guide on checking whether palladium is real or fake.
Check it out!
A Unique Way to Test Whether Coins are Real or Fake
A unique way to test whether coins are real or fake is to use your metal allergies to your advantage.
For example, let’s say you’re allergic to stainless steel, but not to silver. Both stainless steel and silver are lustrous, silvery-white metals and visually they’re almost interchangeable.
So, lets say you touch a supposed real silver coin and you start to get itchy and red-skinned. It immediately tells you that coin is actually made of stainless steel and not silver. Or it’s made mostly of steel with a tiny bit of silver.
This isn’t a foolproof method but it works depending on the situation and context.
Which is the Most Faked US Coin?
The Morgan Silver Dollar (1878–1921) is the most counterfeited US coin. This coin’s popularity with collectors and its historical relevance contribute to its high counterfeiting rate.
Counterfeiters also focus on gold coins, particularly the Double Eagle. Fakes in this category usually present weight differences or reveal raised bumps, known as “pimples.” Such features often uncover their true nature but novice coin collectors can still be fooled.
What is the Most Faked Coin in the World?
The 1897 Russian 15 Rubles coin is the most frequently counterfeited coin in the world. This is followed by other Russian coins, Korean coins, and various other historical coins from countries like French Indo-China, Great Britain, Vietnam, and Saudi Arabia.
The Numismatic Guaranty Corp (NGC) maintains a list of the top 25 most commonly counterfeited world coins.
Can Gold IRA Coins Be Counterfeited?
Yes, gold IRA coins can be counterfeited, and it’s a serious concern for investors.
You want your gold IRA coins to be made of pure gold, silver, platinum and palladium as these are IRA-eligible precious metals.
Counterfeit gold IRA coins that look like originals but are made of base metals like copper or zinc are a huge gold IRA scam and a huge monetary loss for you if you end up buying them.
Always work with a reputable precious metal dealer or a legit gold investment company to ensure your money is spent on coins that actually are worth their weight in gold, silver, platinum or palladium.
Hint- take a look at Augusta Precious Metals when you can. They’re my top choice when it comes to safely opening gold IRAs.
What is a Counterfeit Coin? What’s the Most Faked Coin in the USA and in the World? Conclusion
A counterfeit coin is a fake currency piece created to deceive collectors and investors. Coin counterfeiters manufacture these pieces to imitate genuine currency, often aiming for and achieving a 100% realistic appearance.
Counterfeit coins often circulate in the marketplace unnoticed. Their creators use different materials and techniques to replicate authentic coins, making detection more challenging.
References:
- Coin counterfeiting- https://en.wikipedia.org/wiki/Coin_counterfeiting
- Can you spot the counterfeit coins and bars?- https://acefonline.org/can-you-spot-the-counterfeit-coins/
- Top 50 Most Commonly Counterfeited U.S. Coins- https://www.ngccoin.com/resources/counterfeit-detection/top/united-states/
- The Difference Between Counterfeit & Copy Coins According to a Rare Coin Fraud Attorney- https://www.vosslawfirm.com/blog/the-difference-between-counterfeit.cfm
- Cast fake or just poor example?- https://www.reddit.com/r/AncientCoins/comments/1fnze3p/cast_fake_or_just_poor_example/
- Struck Counterfeit Coins: A Family of Struck Fake Large Cents- https://coinweek.com/struck-counterfeit-coins-a-family-of-struck-fake-large-cents/
- Morgan dollar- https://en.wikipedia.org/wiki/Morgan_dollar
- Russia 15 Roubles Y# 65.1- https://www.ngccoin.com/price-guide/world/russia-15-roubles-y-65.1-1897-cuid-1095287-duid-1572653
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.
