Hiding in Plain Sight: An Introduction to Counterfeits
An old adage in the coin-collecting community is that counterfeiting probably began about one minute after money was invented. While the exact timeline of the history of counterfeit coins is often debated, there’s no doubt that counterfeits have posed a serious threat for centuries. Hiding amongst your collection or in online coin listings, counterfeits can add significant challenges to buying and selling coins. Even experienced dealers can make slip-ups on hard-to-detect counterfeits, letting a fake slide unnoticed into their inventory. Though counterfeiting today has become increasingly advanced with enhanced precision in counterfeit dies and the rise of an extensive Chinese counterfeit market, there are steps you can take when examining coins to help determine authenticity. These simple tricks can help you reduce the chances of purchasing counterfeits.
Measurements
U.S. coinage, which is what I focus on here, must comply with rigorous measurement specifications. The mass of almost every U.S. coin, for instance, will not vary more than a percent from its official specified mass. In addition, a coin’s diameter and thickness should not vary greatly, especially for specimens dated after 1836 (when the retaining collar was introduced). These two tests combined can yield fairly accurate results for low-quality counterfeits, especially when a different alloy was used to produce the counterfeit. In most of these cases, a counterfeiter would have had to either change the mass of the coin to give the counterfeit coin an accurate diameter, or change the diameter of the coin to give it an accurate mass (since the incorrect metal used for the counterfeit likely has a different density).
Composition
In many cases, counterfeit coins will be struck in a less valuable metal than their genuine counterparts. This is especially true for gold and silver coins. Coin dealers commonly use Sigma metalytics testers to noninvasively determine a coin’s composition by analyzing its electrical characteristics.
Details
Details are some of the most incriminating characteristics that can give away a counterfeit coin. Counterfeits often have “mushy” details and can give off the appearance of a picture taken out of focus. When these poor details show up on coins that otherwise appear high-grade, this can be a red flag. Though there are variations in genuine minting (like overuse of a die) that can cause mushy details, this mushiness often appears in documented areas of the coin where the die wore down, as opposed to throughout the entire piece. Tool marks, which are often seen on counterfeits, are short raised lines that appear as a result of tampering with a die. These marks are typically found along the date and the rim and are sometimes called spikes due to their pointy appearance.
Finally, repeating depressions, or marks that repeat identically between coins, can indicate that all came from the same host coin and are counterfeit.
Edge
Due to the processes by which counterfeit coins are made, oftentimes the edge is required to be made from scratch. Counterfeiters are often unable to get the reeding correct on fakes, leaving them with an incorrect number or misaligned reeds. Though often significantly more discreet, this same idea can be used to spot difficult-to-reproduce design elements like letters and their spacing, size, and orientation.
Conclusion
This article serves just as an introduction to counterfeits, and it’s important to remember that many fake coins can be notoriously difficult to detect. Many of the red flags listed above do not determine authenticity on their own and should be considered collectively for one to be certain whether a coin is counterfeit. In addition, taking steps like purchasing coins you’re able to inspect in person and buying certified coins can help reduce the risk of purchasing counterfeits, though these methods come with their own issues and limitations. However, staying informed, conducting thorough research, and consulting experts when in doubt can help reduce risk. Armed with these strategies, you can be better prepared to spot counterfeits and make confident decisions as a collector.
Ross Koenig is a college freshman studying chemistry and Jewish studies. He’s been an ANA member since 2020 and mainly collects U.S. type coinage while recently branching out into U.S. type paper currency and ancient coins. He enjoys educating others about coins and broadening the impact of the hobby.