Counterfeits and Alterations

Since the days of antiquity has the counterfeiter sought to illicit gain by making copies, and coins were certainly a big part of that.  Counterfeit coins, it seems, have always been prevalent within the collecting community, haunting those who are uncertain or inexperienced in detecting the genuine from the phony.  Although great inroads have been made over the last thirty years in deterring the counterfeiter through education and detection, still many unsuspecting collectors have been fooled, costing thousands of dollars.

Today we find different types of counterfeiting, from the cast copies in base metal, to the more sophisticated specimens, such as transfer-die or spark-erosion electrotypes, each cleverly deceptive to the untrained eye.  In addition, we can also include in this group those coins that have been altered, either by adding or removing a mint mark, changing a date, or chemically treating the coins’ surface.  All of these examples are included under the heading of counterfeits or alterations.

The most basic and crude of counterfeits is the cast copy, which was originally made, not to fool anyone, but as a souvenir or promotional giveaway.  Usually these are found with a seam that runs around the outside edge of the coin, as two pieces of a mold are joined. Spark erosion electrotype copies are fairly easy to detect, as they often have a grainy surface and fuzzy details.  Transfer die copies are the most commonly found used by the modern counterfeiter today, and the most deceptive. Transfer die counterfeits are made by actually creating a die from a genuine coin, then striking the forgery.  Often these types of copies are found with spikes or tooling marks on the item in question, and most often seen on gold coins. 

Perhaps the best advice we can give to anyone concerned about alteration and counterfeit detection may surprise you. Knowing how a spot a counterfeit is not as important to protecting yourself as understanding what a genuine coin is supposed to look like.  Rarely will you find the experts being fooled by a counterfeit, simply because they know what characteristics and “diagnostics” the genuine coin will exhibit. The U.S. Mint is meticulous in the minting process, and specific identification die marks or patterns are found with most coinage made, such as die polish or striations, die breaks, or die lines. This is true today as well as early in the Mint’s history.   These diagnostics, such as the die characteristics mentioned, mint mark characteristics, or even luster are all identification keys used to instantly appraise a coins’ authenticity.  The unfortunately reality for all counterfeiters is that they cannot reproduce these identification marks simply because of the shoddy methods by which their coins are made. 

There is no substitute for knowledge, and this is obviously true for coin authentication.  If you are unsure as to whether a coin is genuine or not, it would be best left to the professional to determine.