Author Topic: Copper trade dollar fakes  (Read 1014 times)

0 Members and 1 Guest are viewing this topic.

Offline Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 28 057
Copper trade dollar fakes
« on: June 13, 2011, 01:42:09 AM »
Official seize fake coins at airport
April 23, 2011

CHICAGO, April 23 (UPI) -- U.S. Customs officials in Chicago said they seized 361 counterfeit coins shipped from China that were replicas of 19th century silver trade dollars.

The coins were dated from 1873 to 1878, the Chicago Tribune reported Saturday.

The original coins were minted by the U.S. Treasury when there was a high demand for silver coins in China. The fakes seized at O'Hare International Airport this week were taken to a laboratory for testing and were found to be made of brass with a thin coating of silver, the newspaper said.

Authorities said they had alerted other customs stations to be on the lookout for similar shipments. An authentic trade dollar from that era can be worth as much as $2,000 to a coin collector.

No one has been charged with a crime, but officials said the man expecting the shipment called when the package did not arrive.

An investigation is continuing.

Source: UPI
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline alglasser

  • Meritorious Member
  • ****
  • Posts: 831
Re: Copper trade dollar fakes
« Reply #1 on: March 13, 2013, 07:13:54 PM »
Which nicely explains why certification CAN be of value....sometimes. When I was building my early U.S. type set, certification was a requirement. Though I am no longer a slab fan...this is one of the instances where certification CAN be an asset for those of us untrained or ill equipped in detecting counterfeits. My own experience is that even well respected experts can mess up and miss a counterfeit (SEGS and my 1795 dollar), I would rather increase my odds considerably in obtaining a genuine coin (I hope).

Alan
« Last Edit: January 25, 2015, 04:49:15 PM by eurocoin »

Offline Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 28 057
Re: Copper trade dollar fakes
« Reply #2 on: March 13, 2013, 10:20:26 PM »
These would not have fooled a serious collector. The weight would have been incorrect.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline alglasser

  • Meritorious Member
  • ****
  • Posts: 831
Re: Copper trade dollar fakes
« Reply #3 on: March 13, 2013, 11:10:15 PM »
Hi, Peter. Yes...I'm sure the copy Trade Dollars were of excellent quality. Though I may sound like a broken record and I'm sorry for again mentioning my certified 1795 dollar (SEGS), I have "been there" for the painful experience of losing a treasured, valuable coin because it was a Chinese Fake. When all the discussion was going on with SEGS and PCGS about my coin, (now the property of the U.S. governement...or so I was told...???) I learned that the masterful Chinese copy artists were able to produce nearly perfect copies of any 1795 dollar variety...in a variety of grades! How they did it, I have no idea but obviously they make excellent copies of many rare world coins. I would be interested in seeing a compendium of coins that are Chinese fakes and I think that this should be posted on sites such as E-Bay. I don't think there is a detailed list yet...but hopefully the Numismatic Associations around the world would work together to contribute to such a list.

After I had surrendered my dollar, I often thought that had I weighed it before having it put in a SEGS slab, the discrepancy in weights might have showed up and I would have returned the coin. Of course, the thought never entered my mind back then. Lesson learned. I don't know how PCGS determined it was a fake...maybe weight was correct...but it too must have been a damn good copy. Someone is still laughing at my expense in China. I wish I had more information about what happened to my coin...but I do have photos in the rare chance that I see it again. It had a few minor but distinguishing marks.

How sad for the hobby...and for the collectors who are going to be very disappointed when they realize that they too have a Chinese counterfeit or a copy from another nation. I would like to hope that it never happens to anyone...but I sadly expect that it will...and often. 

Alan
   

akona20

  • Guest
Re: Copper trade dollar fakes
« Reply #4 on: March 13, 2013, 11:16:33 PM »
A couple of quick points.

1. I am not so sure Alan coins was actually a fake. Hmmm. I have had a conversation on PM about this.

2. Some of the fakes made in China and elsewhere now have the correct weight and size. The market for American coins that are fake is quite lucrative because of the lack of technique knowledge many of the buyers have about the coins they are purchasing. Also a comparatively large number of coins have a value out of proportion to their rareness (hence the slabbing circus) if we do a world comparison so the incentive is there.