tbrnews. org/Archives/ a2921.htm
*Mass Counterfeiting of American coins*
February 27, 2009
by Brian Harring
brianharring@ yahoo.com* *
With the collapsing American economy, many Americans
are rushing to invest in gold; either coins or bar, and also silver. One
of the most popular forms of this investment are American coins. Where
there is a need, there is always someone to fill it and in this case,
the filling consists of the massive counterfeiting of gold coins,
silver coins, and even Swiss gold bars in China. Initially, it appeared
they were only faking Morgan dollars, but then it turned out they were
also making $20 Liberty, and Indian Head gold $2.50, $5, and $10 coins,
of _all_ dates. Evidently, this is extremely easy with today's
computer-and- laser-die- cutting technology, and the fakes are being
die-struck in vast quantities, not cast, and visually at least, are
superb copies.
The good news is that these fakes are readily detectable
with a 0.01 - gram scale, as the Chinese in their greed are using lower
carats of gold and lower grades of silver than the genuine coins, to
maximize profit, and thus, in most cases, the fake coins and bars are
lighter than the real ones. In a few cases, the silver coins of high
numismatic interest are actually OVER weight - it appears that the
supply of accurate planchet stock is a major difficulty for the forgers.
Here are links to a two-part article about this in Coin
World Magazine:
coinworl donline.com/ counterfeits/ articles/ 20081203/ counterfeit_ 1.asp
coinworl donline.com/ counterfeits/ articles/ 20081203/ counterfeit_ 2.asp
* Note:* They are even faking PCGS and ANACS slabs!!:
coinworl donline.com/ counterfeits/ articles/ 20081203/ counterfeit_ 3.asp
A friend who has an extremely wealthy friend in Europe
(on the order of several hundreds of millions) asked this person to make
enquiries at his bank. The bank told him candidly that indeed, the
Chinese are also faking sovereigns, half sovereigns, French 20 Franc
gold, and various denominations of Nicholas II Russian Rubles, of all
dates, as well as Swiss gold bars. They said any gold bars they are
offered for purchase are both weighed and the serial numbers checked
with the manufacturers. The Chinese do not know the serial and
manufacture date numbering systems on the gold bars, and so that error
is quickly detectable.
The US Secret Service has just this week been made aware
of this problem, which was new to them, and if they decide to launch an
investigation, they have indicated that while they cannot do anything
about the operations in China, they can, and will, seize any counterfeit
US coins they come across. Dealers in these fakes would also be liable
to fines and jail time. Foreign fakes are not under their purview, but
if that business turns out to be substantial, there could conceivably be
an FBI investigation of fraud in interstate commerce, targeting
companies who are mail-ordering fake foreign coins. Individuals who have
been cheated might also sue their suppliers - in short, this could turn
into a huge mess.
General appearance aside, it is very easy it is to spot
fakes - just with a scale reading to 1/00th of a gram, and a table of
the correct weights and sizes of the coins or bars they are buying. (In
the case of large-size bargold, unless buying from the manufacturer or a
reputable bank, the serial numbers need to be verified, so that one does
not buy a Chinese bar with a lead or mercury core)
Herewith a listing of what I have uncovered so far:
1; The U.S .Morgan silver dollar. All dates and all mint
marks;
2: The U.S. gold coins viz the $2.50, $5.00 and $10.00
Indian head issues
3. The U.S. copper penny viz 1909 S vdb
4. Three gold Imperial Russian roubles from the reign of
Nicholas II
5. A gold 20 franc coin with the head of Napoleon I on
the obverse
6. The South African Krugerrand
7. British sovereigns and half sovereigns of different
monarchs and dates
And in addition, they are also making fake gold bars
from the Credit Suisse people.
It was always considered that numismatics as a
relatively fraud-free area of collecting, but it appears that a coin
collector today has to carry a digital scale around. This doesn't affect
me very much, but I too have wondered at the sudden appearance of all
the Morgan dollars. Fortunately, the ones I have came down to me from my
grandfather, and I'll be very careful picking up individual pieces that
fill blanks.
As for Krugerands and similar gold pieces that are
traded for bullion prices, it is obvious that the Chinese have lowered
the purity and thus debase the value; otherwise, a fake Krug would have
as much gold as a real one.
*MORGAN SILVER DOLLARS (1878-1921)*
1899 Morgan Dollar Obverse 1899 Morgan Dollar Reverse
Date
Mintage for
Circulation
Mintage of
Proofs
Notes
1878
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1878_ morgan_dollars/ 1878_morgan_ silver_dollar. htm>
10,500,000
750
Major varieties include the 8 Tail Feathers reverse, 7 Tail Feathers
reverse, 7/8 Tail Feathers reverse and Reverse of 1879. Among Proofs,
the 1878 7 Tail Feathers, Reverse of 1879 is the rarest.
1878-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1878_ morgan_dollars/ 1878cc_morgan_ silver_dollar. htm>
2,212,000
0
1878-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1878_ morgan_dollars/ 1878s_morgan_ silver_dollar. htm>
9,774,000
0
1879
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879_morgan_ silver_dollar. htm>
14,806,000
1,100
1879-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879cc_morgan_ silver_dollar. htm>
756,000
0
Found with Clear and Capped (rusted) mintmarks.
1879-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879o_morgan_ silver_dollar. htm>
2,887,000
est. 12
1879-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879s_morgan_ silver_dollar. htm>
9,110,000
0
1880
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880_morgan_ silver_dollar. htm>
12,600,000
1,355
1880-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880cc_morgan_ silver_dollar. htm>
591,000
0
1880-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880o_morgan_ silver_dollar. htm>
5,305,000
0
1880-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880s_morgan_ silver_dollar. htm>
8,900,000
0
1881
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881_morgan_ silver_dollar. htm>
9,162,991
984
1881-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881cc_morgan_ silver_dollar. htm>
296,000
0
1881-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881o_morgan_ silver_dollar. htm>
5,708,000
0
1881-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881s_morgan_ silver_dollar. htm>
12,760,000
0
1882
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882_morgan_ silver_dollar. htm>
11,100,000
1,100
1882-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882cc_morgan_ silver_dollar. htm>
1,133,000
0
1882-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882o_morgan_ silver_dollar. htm>
6,090,000
0
Look for the rare O/S variety.
1882-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882s_morgan_ silver_dollar. htm>
9,250,000
0
1883
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883_morgan_ silver_dollar. htm>
12,290,000
1,039
1883-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883cc_morgan_ silver_dollar. htm>
1,204,000
0
1883-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883o_morgan_ silver_dollar. htm>
8,725,000
est. 12
1883-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883s_morgan_ silver_dollar. htm>
6,250,000
0
1884
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884_morgan_ silver_dollar. htm>
14,070,000
875
1884-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884cc_morgan_ silver_dollar. htm>
1,136,000
3 known
1884-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884o_morgan_ silver_dollar. htm>
9,730,000
Unique
1884-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884s_morgan_ silver_dollar. htm>
3,200,000
0
1885
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885_morgan_ silver_dollar. htm>
17,787,000
930
1885-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885cc_morgan_ silver_dollar. htm>
228,000
0
1885-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885o_morgan_ silver_dollar. htm>
9,185,000
0
1885-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885s_morgan_ silver_dollar. htm>
1,497,000
0
1886
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1886_ morgan_dollars/ 1886_morgan_ silver_dollar. htm>
19,963,000
886
1886-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1886_ morgan_dollars/ 1886o_morgan_ silver_dollar. htm>
10,710,000
0
1886-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1886_ morgan_dollars/ 1886s_morgan_ silver_dollar. htm>
750,000
0
1887
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1887_ morgan_dollars/ 1887_morgan_ silver_dollar. htm>
20,290,000
710
1887-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1887_ morgan_dollars/ 1887_over_ 6o_morgan_ silver_dollar. htm>
11,550,000
0
Look for the rare 1887/6-O overdate.
1887-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1887_ morgan_dollars/ 1887s_morgan_ silver_dollar. htm>
1,771,000
0
1888
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1888_ morgan_dollars/ 1888_morgan_ silver_dollar. htm>
19,183,000
832
1888-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1888_ morgan_dollars/ 1888o_morgan_ silver_dollar. htm>
12,150,000
0
1888-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1888_ morgan_dollars/ 1888s_morgan_ silver_dollar. htm>
657,000
0
1889
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889_morgan_ silver_dollar. htm>
21,726,000
811
1889-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889cc_morgan_ silver_dollar. htm>
350,000
0
Rare, key date issue.
1889-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889o_morgan_ silver_dollar. htm>
11,875,000
0
1889-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889s_morgan_ silver_dollar. htm>
700,000
0
1890
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890_morgan_ silver_dollar. htm>
16,802,000
590
1890-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890cc_morgan_ silver_dollar. htm>
2,309,041
0
1890-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890o_morgan_ silver_dollar. htm>
10,701,100
0
1890-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890s_morgan_ silver_dollar. htm>
8,230,373
0
1891
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891_morgan_ silver_dollar. htm>
8,693,556
650
1891-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891cc_morgan_ silver_dollar. htm>
1,618,000
0
1891-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891o_morgan_ silver_dollar. htm>
7,954,529
0
1891-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891s_morgan_ silver_dollar. htm>
5,296,000
0
1892
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892_morgan_ silver_dollar. htm>
1,036,000
1,245
1892-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892cc_morgan_ silver_dollar. htm>
1,352,000
0
1892-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892o_morgan_ silver_dollar. htm>
2,744,000
0
1892-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892s_morgan_ silver_dollar. htm>
1,200,000
0
1893
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893_morgan_ silver_dollar. htm>
378,000
792
1893-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893cc_morgan_ silver_dollar. htm>
677,000
est. 12
1893-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893o_morgan_ silver_dollar. htm>
300,000
0
1893-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893s_morgan_ silver_dollar. htm>
100,000
0
Rare in all grades.
1894
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1894_ morgan_dollars/ 1894_morgan_ silver_dollar. htm>
110,000
972
Not as rare as the mintage suggests, but still very popular because it
"looks" rare.
1894-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1894_ morgan_dollars/ 1894o_morgan_ silver_dollar. htm>
1,723,000
0
1894-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1894_ morgan_dollars/ 1894s_morgan_ silver_dollar. htm>
1,260,000
0
1895
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1895_ morgan_dollars/ 1895_morgan_ silver_dollar. htm>
12,000
880
None of the circulation strikes has ever been seen...experts believe
they were all melted down
1895-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1895_ morgan_dollars/ 1895o_morgan_ silver_dollar. htm>
450,000
0
1895-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1895_ morgan_dollars/ 1895s_morgan_ silver_dollar. htm>
400,000
0
1896
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1896_ morgan_dollars/ 1896_morgan_ silver_dollar. htm>
9,976,000
762
1896-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1896_ morgan_dollars/ 1896o_morgan_ silver_dollar. htm>
4,900,000
0
1896-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1896_ morgan_dollars/ 1896s_morgan_ silver_dollar. htm>
5,000,000
0
1897
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1897_ morgan_dollars/ 1897_morgan_ silver_dollar. htm>
2,822,000
731
1897-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1897_ morgan_dollars/ 1897o_morgan_ silver_dollar. htm>
4,004,000
0
1897-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1897_ morgan_dollars/ 1897s_morgan_ silver_dollar. htm>
5,825,000
0
1898
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1898_ morgan_dollars/ 1898_morgan_ silver_dollar. htm>
5,884,000
735
1898-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1898_ morgan_dollars/ 1898o_morgan_ silver_dollar. htm>
4,400,000
0
1898-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1898_ morgan_dollars/ 1898s_morgan_ silver_dollar. htm>
4,102,000
0
1899
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1899_ morgan_dollars/ 1899_morgan_ silver_dollar. htm>
330,000
846
1899-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1899_ morgan_dollars/ 1899o_morgan_ silver_dollar. htm>
12,290,000
0
1899-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1899_ morgan_dollars/ 1899s_morgan_ silver_dollar. htm>
2,562,000
0
1900
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1900_ morgan_dollars/ 1900_morgan_ silver_dollar. htm>
8,830,000
912
1900-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1900_ morgan_dollars/ 1900o_morgan_ silver_dollar. htm>
12,590,000
0
1900-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1900_ morgan_dollars/ 1900s_morgan_ silver_dollar. htm>
3,540,000
0
1901
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1901_ morgan_dollars/ 1901_morgan_ silver_dollar. htm>
6,962,000
813
1901-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1901_ morgan_dollars/ 1901o_morgan_ silver_dollar. htm>
13,320,000
0
1901-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1901_ morgan_dollars/ 1901s_morgan_ silver_dollar. htm>
2,284,000
0
1902
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1902_ morgan_dollars/ 1902_morgan_ silver_dollar. htm>
7,994,000
777
1902-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1902_ morgan_dollars/ 1902o_morgan_ silver_dollar. htm>
8,636,000
0
1902-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1902_ morgan_dollars/ 1902s_morgan_ silver_dollar. htm>
1,530,000
0
1903
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1903_ morgan_dollars/ 1903_morgan_ silver_dollar. htm>
4,652,000
755
1903-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1903_ morgan_dollars/ 1903o_morgan_ silver_dollar. htm>
4,450,000
0
1903-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1903_ morgan_dollars/ 1903s_morgan_ silver_dollar. htm>
1,241,000
0
1904
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1904_ morgan_dollars/ 1904_morgan_ silver_dollar. htm>
2,788,000
650
1904-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1904_ morgan_dollars/ 1904o_morgan_ silver_dollar. htm>
3,720,000
0
1904-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1904_ morgan_dollars/ 1904s_morgan_ silver_dollar. htm>
2,304,000
0
1921
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1921_ morgan_dollars/ 1921_morgan_ silver_dollar. htm>
44,690,000
est. 250
Proofs were made on numismatist Farran Zerbe's behalf, followed by more
made for Henry Chapman.
1921-D
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1921_ morgan_dollars/ 1921d_morgan_ silver_dollar. htm>
20,345,000
0
1921-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1921_ morgan_dollars/ 1921s_morgan_ silver_dollar. htm>
21,695,000
Rumored to exist
Supposedly, Proofs were made on Farran Zerbe's behalf in 1921.
*/Note: It is very important to understand that _most_ of these coins
were removed from circulation and melted down for their silver content.
Therefore, the enormous numbers of Morgan dollars, "recently discovered,
in mint condition, in an old vault," is only a predictable fabrication
designed to sell the fakes to the gullible. /*
*Official specifications, including weight of originals *
*Morgan Dollars*
Minted: 1878 to 1904, 1921
Designer: George T. Morgan
*Gross weight: 26.73 grams*
Composition: .900 silver/.100 copper
Net silver content: 0.77344 oz.
Size: 38.1 mm diameter
*Indian Head $2.50 gold coin *
Designer Bela Lyon Pratt
*Gross weight: 4.18 grams *
Net Weight .12094 oz pure gold
Composition: .900 gold, 100 copper
Diameter: 18 mm, reeded edge
Mints: Philadelphia 1908-1915, 1926-1929
Denver 1911, 1914, 1925* *
*Indian head $5.00 gold coin *
Designer: Bela Lyon Pratt
*Gross weight: 8.359 grams *
Gold content: 0.24187 oz
Composition: 90% gold, 10% copper
Diameter: 21.6 mm
Dates: 1908-16m, 1929
Reeded edge
Mints:
Denver (1908-11; 1914), Philadelphia (1908-15; 1929), San Francisco
(1908-16
*Indian head $10.00 gold *
Designer: Augustus Saint-Gaudens
Gross weight: 16.718 grams
*Net weight: .48375 oz pure gold *
Composition: .900 gold, 100 copper
Diameter: 27 mm, Raised stars on edge
Mints: Philadelphia 1907-1933, San Francisco 1908-1930
Denver: 1908-1914
`While many of these fake coins are widely advertised in
the American prnit and television media, many are also sold on eBay
These single-coin auctions are usually listed with a
starting price of 5 or 10 cents, and they usually close around those
prices when the swindler gets a buyer. These fake coins cost the
Chinese about 50 cents to make but the swindlers make most of their
profit from the shipping expense they collect from their victims.
This is a common practice with China-based sellers on
eBay. They sell the counterfeit item very cheaply, but then charge as
much as $70 or more for shipping. Doing this serves two useful
functions. First, their Final Value Fee expense is minimal, since eBay
bases this fee on the auction's closing price. Secondly, if an item is
returned to the seller for some reason, the buyer can only recover that
minimal bid amount since shipping and handling is typically nonrefundable.
*Counterfeiting significant to China's overall economy*
by Susan Headley
/Special to Coin World/
The counterfeiting of general goods and infringement of intellectual
rights (such as software piracy) in the People's Republic of China (PRC)
comprises a significant portion of China's overall economy. Consider
these facts:
- In 2006, an estimated 8 percent of China's Gross Domestic Product
(GDP) was generated from counterfeiting.
- The PRC's own State Council Research and Development Center estimated
that there were $19 billion to $24 billion worth of counterfeit goods
flooding China's economy in 2001.
- Brand owners estimated that 15 to 20 percent of all well-known brands
in the PRC are counterfeit.
- Up to 80 percent of all worldwide counterfeiting is done in China,
according to some estimates.
- In 2005, U.S. Customs seized $93 million worth of counterfeit and
infringing goods, nearly 70 percent of which came from China (and this
is only what Customs actually caught entering the country, which is
probably a small percentage of the total).
- The manufacture of counterfeits is primarily centered in the two
southern Chinese provinces of Fujian and Guangdong.
*Mass Counterfeiting of American coins*
February 27, 2009
by Brian Harring
brianharring@ yahoo.com* *
With the collapsing American economy, many Americans
are rushing to invest in gold; either coins or bar, and also silver. One
of the most popular forms of this investment are American coins. Where
there is a need, there is always someone to fill it and in this case,
the filling consists of the massive counterfeiting of gold coins,
silver coins, and even Swiss gold bars in China. Initially, it appeared
they were only faking Morgan dollars, but then it turned out they were
also making $20 Liberty, and Indian Head gold $2.50, $5, and $10 coins,
of _all_ dates. Evidently, this is extremely easy with today's
computer-and- laser-die- cutting technology, and the fakes are being
die-struck in vast quantities, not cast, and visually at least, are
superb copies.
The good news is that these fakes are readily detectable
with a 0.01 - gram scale, as the Chinese in their greed are using lower
carats of gold and lower grades of silver than the genuine coins, to
maximize profit, and thus, in most cases, the fake coins and bars are
lighter than the real ones. In a few cases, the silver coins of high
numismatic interest are actually OVER weight - it appears that the
supply of accurate planchet stock is a major difficulty for the forgers.
Here are links to a two-part article about this in Coin
World Magazine:
coinworl donline.com/ counterfeits/ articles/ 20081203/ counterfeit_ 1.asp
coinworl donline.com/ counterfeits/ articles/ 20081203/ counterfeit_ 2.asp
* Note:* They are even faking PCGS and ANACS slabs!!:
coinworl donline.com/ counterfeits/ articles/ 20081203/ counterfeit_ 3.asp
A friend who has an extremely wealthy friend in Europe
(on the order of several hundreds of millions) asked this person to make
enquiries at his bank. The bank told him candidly that indeed, the
Chinese are also faking sovereigns, half sovereigns, French 20 Franc
gold, and various denominations of Nicholas II Russian Rubles, of all
dates, as well as Swiss gold bars. They said any gold bars they are
offered for purchase are both weighed and the serial numbers checked
with the manufacturers. The Chinese do not know the serial and
manufacture date numbering systems on the gold bars, and so that error
is quickly detectable.
The US Secret Service has just this week been made aware
of this problem, which was new to them, and if they decide to launch an
investigation, they have indicated that while they cannot do anything
about the operations in China, they can, and will, seize any counterfeit
US coins they come across. Dealers in these fakes would also be liable
to fines and jail time. Foreign fakes are not under their purview, but
if that business turns out to be substantial, there could conceivably be
an FBI investigation of fraud in interstate commerce, targeting
companies who are mail-ordering fake foreign coins. Individuals who have
been cheated might also sue their suppliers - in short, this could turn
into a huge mess.
General appearance aside, it is very easy it is to spot
fakes - just with a scale reading to 1/00th of a gram, and a table of
the correct weights and sizes of the coins or bars they are buying. (In
the case of large-size bargold, unless buying from the manufacturer or a
reputable bank, the serial numbers need to be verified, so that one does
not buy a Chinese bar with a lead or mercury core)
Herewith a listing of what I have uncovered so far:
1; The U.S .Morgan silver dollar. All dates and all mint
marks;
2: The U.S. gold coins viz the $2.50, $5.00 and $10.00
Indian head issues
3. The U.S. copper penny viz 1909 S vdb
4. Three gold Imperial Russian roubles from the reign of
Nicholas II
5. A gold 20 franc coin with the head of Napoleon I on
the obverse
6. The South African Krugerrand
7. British sovereigns and half sovereigns of different
monarchs and dates
And in addition, they are also making fake gold bars
from the Credit Suisse people.
It was always considered that numismatics as a
relatively fraud-free area of collecting, but it appears that a coin
collector today has to carry a digital scale around. This doesn't affect
me very much, but I too have wondered at the sudden appearance of all
the Morgan dollars. Fortunately, the ones I have came down to me from my
grandfather, and I'll be very careful picking up individual pieces that
fill blanks.
As for Krugerands and similar gold pieces that are
traded for bullion prices, it is obvious that the Chinese have lowered
the purity and thus debase the value; otherwise, a fake Krug would have
as much gold as a real one.
*MORGAN SILVER DOLLARS (1878-1921)*
1899 Morgan Dollar Obverse 1899 Morgan Dollar Reverse
Date
Mintage for
Circulation
Mintage of
Proofs
Notes
1878
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1878_ morgan_dollars/ 1878_morgan_ silver_dollar. htm>
10,500,000
750
Major varieties include the 8 Tail Feathers reverse, 7 Tail Feathers
reverse, 7/8 Tail Feathers reverse and Reverse of 1879. Among Proofs,
the 1878 7 Tail Feathers, Reverse of 1879 is the rarest.
1878-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1878_ morgan_dollars/ 1878cc_morgan_ silver_dollar. htm>
2,212,000
0
1878-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1878_ morgan_dollars/ 1878s_morgan_ silver_dollar. htm>
9,774,000
0
1879
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879_morgan_ silver_dollar. htm>
14,806,000
1,100
1879-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879cc_morgan_ silver_dollar. htm>
756,000
0
Found with Clear and Capped (rusted) mintmarks.
1879-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879o_morgan_ silver_dollar. htm>
2,887,000
est. 12
1879-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1879_ morgan_dollars/ 1879s_morgan_ silver_dollar. htm>
9,110,000
0
1880
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880_morgan_ silver_dollar. htm>
12,600,000
1,355
1880-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880cc_morgan_ silver_dollar. htm>
591,000
0
1880-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880o_morgan_ silver_dollar. htm>
5,305,000
0
1880-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1880_ morgan_dollars/ 1880s_morgan_ silver_dollar. htm>
8,900,000
0
1881
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881_morgan_ silver_dollar. htm>
9,162,991
984
1881-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881cc_morgan_ silver_dollar. htm>
296,000
0
1881-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881o_morgan_ silver_dollar. htm>
5,708,000
0
1881-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1881_ morgan_dollars/ 1881s_morgan_ silver_dollar. htm>
12,760,000
0
1882
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882_morgan_ silver_dollar. htm>
11,100,000
1,100
1882-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882cc_morgan_ silver_dollar. htm>
1,133,000
0
1882-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882o_morgan_ silver_dollar. htm>
6,090,000
0
Look for the rare O/S variety.
1882-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1882_ morgan_dollars/ 1882s_morgan_ silver_dollar. htm>
9,250,000
0
1883
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883_morgan_ silver_dollar. htm>
12,290,000
1,039
1883-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883cc_morgan_ silver_dollar. htm>
1,204,000
0
1883-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883o_morgan_ silver_dollar. htm>
8,725,000
est. 12
1883-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1883_ morgan_dollars/ 1883s_morgan_ silver_dollar. htm>
6,250,000
0
1884
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884_morgan_ silver_dollar. htm>
14,070,000
875
1884-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884cc_morgan_ silver_dollar. htm>
1,136,000
3 known
1884-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884o_morgan_ silver_dollar. htm>
9,730,000
Unique
1884-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1884_ morgan_dollars/ 1884s_morgan_ silver_dollar. htm>
3,200,000
0
1885
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885_morgan_ silver_dollar. htm>
17,787,000
930
1885-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885cc_morgan_ silver_dollar. htm>
228,000
0
1885-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885o_morgan_ silver_dollar. htm>
9,185,000
0
1885-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1885_ morgan_dollars/ 1885s_morgan_ silver_dollar. htm>
1,497,000
0
1886
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1886_ morgan_dollars/ 1886_morgan_ silver_dollar. htm>
19,963,000
886
1886-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1886_ morgan_dollars/ 1886o_morgan_ silver_dollar. htm>
10,710,000
0
1886-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1886_ morgan_dollars/ 1886s_morgan_ silver_dollar. htm>
750,000
0
1887
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1887_ morgan_dollars/ 1887_morgan_ silver_dollar. htm>
20,290,000
710
1887-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1887_ morgan_dollars/ 1887_over_ 6o_morgan_ silver_dollar. htm>
11,550,000
0
Look for the rare 1887/6-O overdate.
1887-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1887_ morgan_dollars/ 1887s_morgan_ silver_dollar. htm>
1,771,000
0
1888
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1888_ morgan_dollars/ 1888_morgan_ silver_dollar. htm>
19,183,000
832
1888-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1888_ morgan_dollars/ 1888o_morgan_ silver_dollar. htm>
12,150,000
0
1888-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1888_ morgan_dollars/ 1888s_morgan_ silver_dollar. htm>
657,000
0
1889
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889_morgan_ silver_dollar. htm>
21,726,000
811
1889-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889cc_morgan_ silver_dollar. htm>
350,000
0
Rare, key date issue.
1889-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889o_morgan_ silver_dollar. htm>
11,875,000
0
1889-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1889_ morgan_dollars/ 1889s_morgan_ silver_dollar. htm>
700,000
0
1890
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890_morgan_ silver_dollar. htm>
16,802,000
590
1890-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890cc_morgan_ silver_dollar. htm>
2,309,041
0
1890-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890o_morgan_ silver_dollar. htm>
10,701,100
0
1890-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1890_ morgan_dollars/ 1890s_morgan_ silver_dollar. htm>
8,230,373
0
1891
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891_morgan_ silver_dollar. htm>
8,693,556
650
1891-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891cc_morgan_ silver_dollar. htm>
1,618,000
0
1891-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891o_morgan_ silver_dollar. htm>
7,954,529
0
1891-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1891_ morgan_dollars/ 1891s_morgan_ silver_dollar. htm>
5,296,000
0
1892
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892_morgan_ silver_dollar. htm>
1,036,000
1,245
1892-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892cc_morgan_ silver_dollar. htm>
1,352,000
0
1892-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892o_morgan_ silver_dollar. htm>
2,744,000
0
1892-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1892_ morgan_dollars/ 1892s_morgan_ silver_dollar. htm>
1,200,000
0
1893
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893_morgan_ silver_dollar. htm>
378,000
792
1893-CC
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893cc_morgan_ silver_dollar. htm>
677,000
est. 12
1893-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893o_morgan_ silver_dollar. htm>
300,000
0
1893-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1893_ morgan_dollars/ 1893s_morgan_ silver_dollar. htm>
100,000
0
Rare in all grades.
1894
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1894_ morgan_dollars/ 1894_morgan_ silver_dollar. htm>
110,000
972
Not as rare as the mintage suggests, but still very popular because it
"looks" rare.
1894-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1894_ morgan_dollars/ 1894o_morgan_ silver_dollar. htm>
1,723,000
0
1894-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1894_ morgan_dollars/ 1894s_morgan_ silver_dollar. htm>
1,260,000
0
1895
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1895_ morgan_dollars/ 1895_morgan_ silver_dollar. htm>
12,000
880
None of the circulation strikes has ever been seen...experts believe
they were all melted down
1895-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1895_ morgan_dollars/ 1895o_morgan_ silver_dollar. htm>
450,000
0
1895-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1895_ morgan_dollars/ 1895s_morgan_ silver_dollar. htm>
400,000
0
1896
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1896_ morgan_dollars/ 1896_morgan_ silver_dollar. htm>
9,976,000
762
1896-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1896_ morgan_dollars/ 1896o_morgan_ silver_dollar. htm>
4,900,000
0
1896-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1896_ morgan_dollars/ 1896s_morgan_ silver_dollar. htm>
5,000,000
0
1897
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1897_ morgan_dollars/ 1897_morgan_ silver_dollar. htm>
2,822,000
731
1897-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1897_ morgan_dollars/ 1897o_morgan_ silver_dollar. htm>
4,004,000
0
1897-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1897_ morgan_dollars/ 1897s_morgan_ silver_dollar. htm>
5,825,000
0
1898
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1898_ morgan_dollars/ 1898_morgan_ silver_dollar. htm>
5,884,000
735
1898-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1898_ morgan_dollars/ 1898o_morgan_ silver_dollar. htm>
4,400,000
0
1898-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1898_ morgan_dollars/ 1898s_morgan_ silver_dollar. htm>
4,102,000
0
1899
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1899_ morgan_dollars/ 1899_morgan_ silver_dollar. htm>
330,000
846
1899-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1899_ morgan_dollars/ 1899o_morgan_ silver_dollar. htm>
12,290,000
0
1899-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1899_ morgan_dollars/ 1899s_morgan_ silver_dollar. htm>
2,562,000
0
1900
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1900_ morgan_dollars/ 1900_morgan_ silver_dollar. htm>
8,830,000
912
1900-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1900_ morgan_dollars/ 1900o_morgan_ silver_dollar. htm>
12,590,000
0
1900-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1900_ morgan_dollars/ 1900s_morgan_ silver_dollar. htm>
3,540,000
0
1901
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1901_ morgan_dollars/ 1901_morgan_ silver_dollar. htm>
6,962,000
813
1901-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1901_ morgan_dollars/ 1901o_morgan_ silver_dollar. htm>
13,320,000
0
1901-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1901_ morgan_dollars/ 1901s_morgan_ silver_dollar. htm>
2,284,000
0
1902
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1902_ morgan_dollars/ 1902_morgan_ silver_dollar. htm>
7,994,000
777
1902-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1902_ morgan_dollars/ 1902o_morgan_ silver_dollar. htm>
8,636,000
0
1902-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1902_ morgan_dollars/ 1902s_morgan_ silver_dollar. htm>
1,530,000
0
1903
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1903_ morgan_dollars/ 1903_morgan_ silver_dollar. htm>
4,652,000
755
1903-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1903_ morgan_dollars/ 1903o_morgan_ silver_dollar. htm>
4,450,000
0
1903-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1903_ morgan_dollars/ 1903s_morgan_ silver_dollar. htm>
1,241,000
0
1904
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1904_ morgan_dollars/ 1904_morgan_ silver_dollar. htm>
2,788,000
650
1904-O
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1904_ morgan_dollars/ 1904o_morgan_ silver_dollar. htm>
3,720,000
0
1904-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1904_ morgan_dollars/ 1904s_morgan_ silver_dollar. htm>
2,304,000
0
1921
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1921_ morgan_dollars/ 1921_morgan_ silver_dollar. htm>
44,690,000
est. 250
Proofs were made on numismatist Farran Zerbe's behalf, followed by more
made for Henry Chapman.
1921-D
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1921_ morgan_dollars/ 1921d_morgan_ silver_dollar. htm>
20,345,000
0
1921-S
<http://www.coinfact s.com/silver_ dollars/morgan_ dollars/1921_ morgan_dollars/ 1921s_morgan_ silver_dollar. htm>
21,695,000
Rumored to exist
Supposedly, Proofs were made on Farran Zerbe's behalf in 1921.
*/Note: It is very important to understand that _most_ of these coins
were removed from circulation and melted down for their silver content.
Therefore, the enormous numbers of Morgan dollars, "recently discovered,
in mint condition, in an old vault," is only a predictable fabrication
designed to sell the fakes to the gullible. /*
*Official specifications, including weight of originals *
*Morgan Dollars*
Minted: 1878 to 1904, 1921
Designer: George T. Morgan
*Gross weight: 26.73 grams*
Composition: .900 silver/.100 copper
Net silver content: 0.77344 oz.
Size: 38.1 mm diameter
*Indian Head $2.50 gold coin *
Designer Bela Lyon Pratt
*Gross weight: 4.18 grams *
Net Weight .12094 oz pure gold
Composition: .900 gold, 100 copper
Diameter: 18 mm, reeded edge
Mints: Philadelphia 1908-1915, 1926-1929
Denver 1911, 1914, 1925* *
*Indian head $5.00 gold coin *
Designer: Bela Lyon Pratt
*Gross weight: 8.359 grams *
Gold content: 0.24187 oz
Composition: 90% gold, 10% copper
Diameter: 21.6 mm
Dates: 1908-16m, 1929
Reeded edge
Mints:
Denver (1908-11; 1914), Philadelphia (1908-15; 1929), San Francisco
(1908-16
*Indian head $10.00 gold *
Designer: Augustus Saint-Gaudens
Gross weight: 16.718 grams
*Net weight: .48375 oz pure gold *
Composition: .900 gold, 100 copper
Diameter: 27 mm, Raised stars on edge
Mints: Philadelphia 1907-1933, San Francisco 1908-1930
Denver: 1908-1914
`While many of these fake coins are widely advertised in
the American print and television media, many are also sold on eBay
These single-coin auctions are usually listed with a
starting price of 5 or 10 cents, and they usually close around those
prices when the swindler gets a buyer. These fake coins cost the
Chinese about 50 cents to make but the swindlers make most of their
profit from the shipping expense they collect from their victims.
This is a common practice with China-based sellers on
eBay. They sell the counterfeit item very cheaply, but then charge as
much as $70 or more for shipping. Doing this serves two useful
functions. First, their Final Value Fee expense is minimal, since eBay
bases this fee on the auction's closing price. Secondly, if an item is
returned to the seller for some reason, the buyer can only recover that
minimal bid amount since shipping and handling is typically nonrefundable. |
