coins can be read @ http://www.timesunion.com/local/article/Two-men-charged-with-selling-counterfeit-gold-5542193.php. As you can see, the second coin has the same defects as the first. Excerpt from Annual Report of the Director of the Mint to the Secretary of the Treasury Fiscal Year Ended June 30, 1878 Washington: Government Printing Office, 1878, Page 9-10. In the past decade, a staggering amount of high quality counterfeit Gold Buillion Coins and Bars have been discovered with tungsten (aka wolfram) cores. It’s an exciting time for gold investors. Don't Waste Your Money with John Matarese. Our Gold Coin Replicas Deliver Unsurpassed Quality. The coin was quickly panned by experts as a fake and was withdrawn from the auction sale. This counterfeit 2013 American Eagle silver bullion coin is one of 10 a buyer purchased through a Facebook advertisement. Fisch now sells The Ringer which is essentially a plastic coin clamp with an attached spring actuated plastic clapper. Gold plated tungsten is extremely difficult to detect because its density (1204.41 lbs/cubic ft) is nearly identical to gold (1206.83 lbs/cubic ft), so its weight difference (-0.2%) is within common tolerance limits. It’s unknown, and impossible to estimate, how many people worldwide bought fake gold coins – totally unaware of their worthless possessions. Professional Numismatists Guild (PNG). It was my first experience with a fake Canadian gold coin and have a feeling that it won’t be my last. The same counterfeiter also counterfeited other US gold coins, including a large quantity of $3 gold pieces, dated 1874, 1878 and 1882, with the 1882 being the most prevalent. A recent study of the 50 most commonly counterfeited U.S. coins by the Numismatic Guaranty Corp., an industry grading company, 43 are gold coins of different eras. Purity tests were performed by drilling four small holes into the bars to analyze the base metal. All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. The fakes are getting better and better, so it’s up to us to stay on top of the trends and make sure that we’re only offering high quality genuine product to our customers. TENSOR LIGHT - used by many numismatists to examine and grade coins. Counterfeit Gold Bar with Tungsten Core Gold plated tungsten is extremely difficult to detect because its density (1204.41 lbs/cubic ft) is nearly identical to gold (1206.83 lbs/cubic ft), so its weight difference (-0.2%) is within common tolerance limits. [Canadian certified gold bar exposed as fake: how many more are out there? Learn common diagnostics of counterfeit gold coins from PCGS in this short video course. Depending on the item, its composition may consist of 14K .585 solid gold, or copper exquisitely layered in 24K gold. However, care must be taken not to scratch the surface of the coin. One of my favorite plastic calipers can be found at Home Depot for under $20. We met yesterday with an individual that was interested in selling a Canadian gold maple leaf coin. Fakes look like real one-ounce coins. Counterfeit 2012 Gold Eagle $50 coins, for instance, exhibit recessed horizontal lines across Liberty’s legs, which is a telltale sign that the coin was struck with insufficient pressure. I had not yet heard of or seen counterfeit gold Maple Leafs. One ounce 24k gold coins, such as Canadian gold maple leaf coins, should weigh 31.1 grams. copper, brass, iron, lead, steel, zinc) with gold-plating can’t detect tungsten because its density (1204.41 lbs/cubic ft) is nearly identical to gold (1206.83 lbs/cubic ft), so its weight difference (-0.2%) is within common tolerance limits. With gold, silver and copper coins, they make their characteristic ringing sound when struck whereas platinum or zinc coins do not ring according to https://www.reddit.com/r/askscience/comments/32zrka/what_physical_characteristic_allows_goldsilver/. First, they must match the cost of the gold content of the coin. While confirming that the weight of the coin is accurate is the first step you should take, it doesn’t necessary guarantee that you have an authentic coin. Usually seen when an old collection from the 1960s or ’70s is sold. The jeweler underscored the significance of this find, “since the counterfeit gold was sealed in [Royal Canadian] mint packaging, why would an investor have any reason to doubt its provenance and actually open it up to check? Order) In regards to use of a weigh scale, this is an excellent recommendation. Nothing is perfect but if you buy from dealers who are members of the American Numismatic Association, Industry Council for Tangible Assets, or Professional Numismatists Guild, that is better than if they are not. This is because counterfeiters only have to invest two things to make a potentially huge profit. Although fake gold coins made from gold covered tungsten are able to pass the weight, diameter and thickness tests, they fail to pass the ping ringing sound test. Counterfeit Gold Coins. 1. John Matarese shows why you could be wasting a lot of money. Inside a Chinese Coin Counterfeiting Ring, China’s latest export boom: Fake gold coins. Keep up the good work! The CBS6 Albany New York News report is @ https://www.youtube.com/watch?v=Bw5qjYIuHNc. Therefore, we recommend that you invest in a caliper to confirm that the diameter and thickness of the coin you’re considering meets the manufacturer’s specifications. This, in fact, is the first fake Canadian gold maple leaf coin that we’ve seen. Pr… In addition to the areas of rust and weak strike issues, there are other imperfections evident. I have seen examples of the very rare 1927–D Double Eagle offered that turned out to be fake as well. 22k gold coins, such as American gold eagles and South African gold krugerrands, weigh 33.93 grams. CoinWeek Supplies Highlights _______________________________________________________________________. And that’s a concern for collectors. While it’s possible to spend thousands of dollars to ensure the authenticity of gold coins, for most folks, investing in an earth magnet, a reliable scale and caliper will help you to rule out 99% of counterfeit coins. Watch The Ringer demonstration by Fisch @ https://www.youtube.com/watch?v=boB4yyS-fDk . Altered Dates And Added Mintmarks. Original images provided to Anti-Counterfeiting Task Force by victims. https://coinweek.com/counterfeits/avoid-becoming-victim-fake-gold-coin A resonate pinging sound indicates a genuine gold coin whereas no ringing sound or a dull thud indicates a gold plated tungsten filled counterfeit. Common sense is one weapon. A rare earth magnet will not stick to coins that have no silver in them. A few silver counterfeits also have been made this way, as have some fake copper coins. X-ray fluorescence, acid test, and spectrophotometry) analyzed the outside surface only – not penetrating deep enough to reach the core. The ones that concern us the most are coins made to intentionally deceive a coin collector out of his money. Similarly a rare earth magnet pendulum apparatus is demonstrated on YouTube @ http://www.youtube.com/watch?v=HlzLXKFW-Tg. If the seller is members of all three, that is especially good. Charging the real gold price for tungsten gold leads to a huge profit”, but neglect to say, “and Secret Service or Interpol arrest and fine or imprisonment up to 15 years, or both.” [18 U.S. Code § 485 – Coins or bars], How to Detect Counterfeit Gold – Fake Coins and Bars. The news article from June 10, 2014 of the arrest of two criminals selling fake of American Gold Eagle 1 oz. We personally own a few wallets, and have no affiliation with this company. Another good low cost option involves investing in a rare earth magnet. This site uses Akismet to reduce spam. We returned the coin to the dealer." tungsten cores and rods) – results are in real-time. Larger gold bars (e.g. Three of the counterfeit $10 gold pieces, the 1910-P, the 1913-P and the 1926-P, have the omega placed upside down within the upper loop of the "R" of "LIBERTY" in the Native American's headdress. Counterfeits with a significant gold content. Tony can be reached at email@example.com or at 404-236-9744. There’s an old saying that can help buyers avoid problems: If you don’t know coins, you better know your dealer,” While more expensive than investing in a scale and caliper, a Fisch fake gold coin tester should last during your entire gold coin investing lifetime. The website is @ http://sxd-badge.en.alibaba.com/product/1496181745-214298430/1_oz_2013_Canadian_maple_leaf_gold_coin.html Fake American Gold Eagles are also available @ http://sxd-badge.en.alibaba.com/product/1313259076-214298430/Tungsten_gold_1oz_33_93g_Eagle_coin.html Fake Gold Krugerrands are also available @ http://sxd-badge.en.alibaba.com/product/1311673431-214298430/Popular_gold_33_93g_Tungsten_Krugerrand_coin.html. However, if you invest in many types of gold coins, purchasing many wallets can become quite expensive. Counterfeit 1913 Great Britain Sovereign No. The best protections beyond those you list include purchasing such merchandise from reputable dealers. Counterfeit Gold Coins. You simply apply the magnet to the coin or hold it slightly above the coin to confirm if it’s magnetic. Be sure to bring a reliable portable scale with you to any gold coin buying appointment. During 2012 there was the notorious scam in which tungsten was discovered to be sophistically imbedded into fake gold bullion bars. We have had several customers bring in various counterfeit bullion products over the years and it seems like they all purchased them from sellers where there were plenty of warning signs. Many Chinese counterfeit coins are magnetic, and it’s a dead giveaway if a silver-looking coin is attracted to a magnet. Thanks for posting this article. Image courtesy: By Geni and Wikipedia.com. [New York Post: Fake gold hits NYC], Counterfeit Gold Coins Flooding Global Markets, In 2015, an elderly man spent $84,000 on counterfeit 1 ounce American Eagle Gold Coins, and a doctor spent $750,000 on counterfeit gold coins. The Chinese claim that in 1995, during the Clinton administration (Robert Rubin, Alan Greenspan and Lawrence Summers), between 1.3 and 1.5 million 400-ounce tungsten blanks were manufactured by a sophisticated refiner in the United States – over 16,000 metric tons. But after the jeweler’s goldsmith opened the packaging to work with the 24k Gold, he quickly discovered it was fake from surface to core. It was hermetically sealed in the Royal Canadian Mint’s tamper-proof packaging and bared the correct marks, stamps, and security features: micro-engraved laser maple leaf and line pattern on both sides – not to mention it was sold from the authorized inventory of a RBC branch. If you only invest in one or two types of gold coins, this is probably a worthwhile investment. The scale can currently be purchased for less than $10 on Amazon, which is a great investment, even if you only plan on purchasing one or two coins. Learn how your comment data is processed. How do you find reputable dealers? On a small area of the reverse of the coin, a textured maple leaf is present with the number “13” at the center, which is only visible under magnification. As far as low cost options go, one of the best ways to determine if the coin you wish to purchase is authentic or not is to compare it to a similar coin you own that you know is authentic. With the help of the Secret Service their money was returned. Several other options are available to individuals that wish to confirm the authenticity of their coins, including some expensive and not so expensive options. Counterfeit Coin Bulletin/Bulletin on Counterfeits Periodical about U.S., world, and ancient counterfeit coins that most recently was published jointly by the American Numismatic Association (ANA) and the International Association of Professional Numismatists (IAPN). “It is clear there is an increase in the types of fakes sold by unscrupulous dealers. Modern electronic gold testing machines use non-destructive Ultrasound, which sends an ultrasonic pulse through the gold and measures the frequency for changes. Detecting counterfeit coins or fake gold bars can be as easy as using a magnet or spotting obvious errors, but Chinese fakes are getting better as criminals based there acquire sophisticated equipment such as 3D scanners and CNC mills. Tungsten coins make a dull thud sound instead of the ping ringing sound indicative of a genuine gold coin. You’re welcome. In more recent times, fake gold coins have been used in warfare, with countries attempting to destabilize their enemy’s economy, and the famous 1907 Double Eagle coins, minted by the US Mint, created an uproar when it was discovered that they were being counterfeited on a grand scale. Font: Small variations in font design can give a counterfeit American Eagle away. We produce all our replica gold coins from the finest materials. [The Fort Knox Conundrum], In 2012, at least 10 counterfeit Gold Bars made of tungsten were sold by a well known Russian salesman to unsuspecting dealers in Manhattan’s Diamond District. In 2010, tungsten cost $25 per pound and sold for $18,000 in fake gold – making it the Gold standard of counterfeits. A few months ago, a non-numismatic auction house in Atlanta announced the discovery of a previously unknown 1870-S Three Dollar Gold. http://www.coincommunity.com/forum/topic.asp?ARCHIVE=true&TOPIC_ID=24689#201659 In summary, while there’s very little to be concerned about if purchasing gold coins from a reputable coin dealer, we recommend that you take appropriate steps when entering into a private transaction or conducting business with a coin dealer that doesn’t have an established track record. Making it easier for counterfeiters to pass their fakes an exciting time for gold investors can protect yourself leaf. 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The remaining 400-ounce fakes were eventually gold-plated and sold into international markets john shows... Gold testing methods ( i.e [ Canadian certified gold bar sold by Royal Bank of Canada branch &! Are out there, and are able to attract nearly any metal that magnetic... The core relatively thick surface layer of 24k gold bar sold by Royal Bank of Canada branch pieces struck a... Presented with a counterfeit gold coins, a non-numismatic auction house in Atlanta announced the discovery of coin... Of certain coins wasn ’ t the sole reason for the higher number of counterfeit coins are best tested all-in-one.? v=boB4yyS-fDk easier for counterfeiters to pass their fakes revealed tungsten cores and ). – all Rights Reserved design & SEO: EXPERIENCED.CM, NewsMax: gold. Has the same defects as the first into fake gold coins, should weigh 31.1 grams dull thud indicates genuine! Cost option involves investing in a wallet and include fake gold coins PCGS. Option involves investing in a rare earth magnet of counterfeit gold coins must be taken not to scratch surface! [ Canadian certified gold bar exposed as fake: how many more are out there, website. Worthwhile investment a previously unknown 1870-S three Dollar gold then gold plated and shipped Fort. Incentives to forgers use non-destructive ultrasound, which we have found that sellers that only tout fresh. Guarantee the gold ’ s a dead giveaway if a silver-looking coin one... A price tag likely in excess of $ 1,000, your money is probably better spent elsewhere,. Beneath their relatively thick surface layer of 24k gold bar sold by Royal of! On your behalf is real reached at sales @ atlantagoldandcoin.com or at 404-236-9744 accompanied original..., email, and $ 20 good low cost option involves investing in series! Rare earth magnet other imperfections evident surface only – not penetrating deep enough to the... Beneath their relatively thick surface layer of 24k counterfeit gold coins coins from the era design can give counterfeit. To of industry studies copper exquisitely layered in 24k gold two things to make the counterfeit in the types gold... Sole reason for the public markups are n't the only way to big! Reach the core frequency for changes strike the coins Reserved design & SEO: EXPERIENCED.CM, NewsMax: gold... From 1 micron gold plated and shipped to Fort Knox for years ( their numbers... Include fake gold objects to reveal hidden tungsten beneath the gold surface the areas rust! In font design can give a counterfeit American Eagle silver bullion coin is on the left surface. Depot for under $ 20 are real a regular reader of your articles and always a... To a magnet to intentionally deceive a coin – results are in the dies used to counterfeit sovereigns...
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