| Author |
 Topic  |
|
|
Copper Catcher
Administrator
USA
2092 Posts |
|
|
thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 04/03/2010 : 22:22:30
|
I recently used the torch to expose some duds.
I also just looked and saw that I do have a American Royal Mint 15 grain bar that weighs 31 grams.
Live and learn. Great info.
|
Come to the new and improved realcent: http://realcent.org
|
 |
|
|
rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 04/04/2010 : 01:38:42
|
Thanks for the warning. There is another similar video on YouTube regarding fake junk silver. I am not sure I would be able to tell the difference. And I do buy Morgan and Peace dollars when I find them for $16. From coin shops, but I wonder if they would know either ---
You must be logged in to see this link.
|
Edited by - rainsonme on 04/04/2010 01:39:18 |
|
|
|
billo
Penny Collector Member
293 Posts |
Posted - 04/04/2010 : 03:07:46
|
| Thanks for posting these. The fakes proliferation has worried me to the point that (together with lack of budget) I haven't been buying for the last few months until I can get better set up to check coins. This is also an economic problem, not just a personal buying issue. It has the capability to make assets worthless and money "vanish" whether from the FRN-bank world or in the hands of people who believe in PMs like us. If all those fakes suddenly disappeared overnight (like a fake "rapture") there would be a lot of surprised people and lost wealth. |
That's not a dollar, mate...THIS is a dollar.
http://www.sendcongressapinkslip.com/ |
|
|
|
GA-Silver
Penny Pincher Member
USA
238 Posts |
Posted - 04/04/2010 : 03:21:15
|
| I guess it makes the case of investing in junk silver stronger..... |
|
|
|
goodcoin
Penny Sorter Member
42 Posts |
 Posted - 04/04/2010 : 10:28:04
|
I purchased a number of fake junk silver coins in China seven years back, thinking I was getting a great deal on silver dollars. My wife told me they were not real but I didn’t believe her. When I returned to the States and showed my friend, he laughed and told me they are made out of pot metal. What they do is melt a bunch of pots and make coins with them. In China it’s common to see pot metal coins in the marketplace. When I come across them I usually purchase the coins dirt cheep and either use them for magic tricks or sell them to my magician friends. The nice thing about these coins is there are foreign pot metal coins to chose from, that I find have flashy designs and are great conversation pieces. While practicing or performing magic, I would much rather drop or lose one of these pot metal coins than the real silver ones. I can usually get between 2-5 dollars for them in the States from magicians, depending on the unique artwork and if they are a set.
|
|
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
|
|
Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 04/04/2010 : 10:49:11
|
quote:
Originally posted by GA-Silver
I guess it makes the case of investing in junk silver stronger.....
Yep, common as dirt circulated Ag coins are going to be your safest bet. I highly doubt anybody is going to counterfeit a '64P dime (or any other mass produced and prolifically circulated coin) and go thru the hassle of simulating 5+ decades of wear.
|
|
|
|
thogey
1000+ Penny Miser Member
USA
1617 Posts |
Posted - 04/04/2010 : 11:04:32
|
quote:
Originally posted by beauanderos
quote:
Originally posted by thogey
I recently used the torch to expose some duds.
"Hey, no duds! I just hope I can get full price for this silver when I go to sell it, what with all the scorch marks, discolorations, and melted spots on them." 
You don't have to bring them to melting point to expose the dudes.
Try it. Take a silver dime and just pass a soldering torch over it for a few seconds. It will immediatley turn color. Do it with a tarnished or discolored .999 round. The pure silver will turn bright white immediatley. It's actually very cool.
If you have discolorations or scorch marks then they're duds. |
Come to the new and improved realcent: http://realcent.org
|
|
|
|
cptindy
Penny Hoarding Member
572 Posts |
Posted - 04/04/2010 : 11:06:52
|
Very Interesting...
Thanks for the post... |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
|
|
|
rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 04/04/2010 : 17:16:02
|
Well, other coins of lower denomination are also being counter-feited. Indian head pennies, V-nickles, and standing liberty quarters. I saw a video that I cannot now find of a small operation in China stamping out Indian Head pennies. I also bought some very cheap "silver" chinese coins that looked worn, and had the right markings, but stuck firmly to a magnet. I worry about this a bit, but not nearly as much as I worry about the long term dollar.
You must be logged in to see this link.
You must be logged in to see this link.
|
|
|
|
cesario
Penny Pincher Member
129 Posts |
|
|
goodcoin
Penny Sorter Member
42 Posts |
Posted - 04/04/2010 : 23:39:32
|
| I’ve seen enough of the counterfeit silver coins in China that now I can usually tell the difference if they are fake or not. If I’m still in question whether the coin is pot metal or silver, I pair them off next to the real thing. After pairing them off, If I’m still not sure what the coin is made of, I offer pot metal price. United States halves and dollars, Canadian dollars and Mexican peso coins are the only counterfeit North American coins that I have encountered from the Chinese marketplace. Over the past seven years of being in China I have never seen the lower denomination American coins made with pot metal but that doesn’t mean they’re not around. |
|
|
|
rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 04/05/2010 : 00:10:45
|
Indian Head Pennys and V-nickles are being made in China using the appropriate metal content, or close to it. I think the threat to common junk silver would only come if (when) silver values double or triple from here, and there is a significant profit to be made by mixing tungsteng and silver or whatever combination of lower grade metal with silver. That is still a ways away.
In 1877 apparently they had a problem with counterfeit half dollars, yet the coinage survived.
You must be logged in to see this link.
|
|
|
|
goodcoin
Penny Sorter Member
42 Posts |
Posted - 04/05/2010 : 00:41:44
|
“What they do is melt a bunch of pots and make coins with them.”
Hey Cesario,
thanks for the comment
“Um, not quite: You must be logged in to see this link.”
As the Chinese would say I have just “Lost Face”. After being told I purchased pot metal coins I believed the story my friend said of Chinese melting a bunch of pots and making coins with them, which is why I passed along the message to the group. I haven’t actually witnessed the coins being made, and my friends story seemed to make sense, which is why I believed his story was fact. He was half right. Either way the coins are made of pot metal so beware. Thanks again for the correction and education. I will pass it along.
|
|
|
|
goodcoin
Penny Sorter Member
42 Posts |
Posted - 04/05/2010 : 01:38:10
|
Hey rainsonme,
Thanks for making me aware that counterfeit Indian Head Pennies and V-nickles are being made in China. I’m usually not looking for these denominations when I’m out shopping in the marketplace, which is why I haven’t encountered them. Next time I’m shopping for coins I will keep an eye out for the counterfeit penny, nickel, dime and quarters. Would be neat to find one. Anyone interested in counterfeit coins from China? Just kidding!
|
|
|
|
PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 04/05/2010 : 18:15:35
|
I had posted sometime back (BUT I haven't a clue how to find the old post) that the Chinese are also counterfeiting US Pennies that are error coins, example very off center, etc.
I watched a gentleman doing a detailed exam of these for a write-up for CONECA at a coin show in March, 2009, in Orlando, Florida.
It is my understanding that they are counterfeiting a lot of our coins. Try doing some internet searches on the subject. It's scary.
|
|
|
|
billo
Penny Collector Member
293 Posts |
Posted - 04/05/2010 : 23:21:02
|
| I guess this could warrant a thumbs-up for the people who collect pennies and nickels for metal content rather than numismatic or silver/gold; they don't have to worry much about fakes! |
That's not a dollar, mate...THIS is a dollar.
http://www.sendcongressapinkslip.com/ |
|
|
| |
Topic |
|
Be careful what you buy! Check out these videos
Forum Locked
