Expert: Joe Hylas - 8/11/2009

Question
Hello, I am trying to help a friend with some Indian Head Pennies, after several hours on line, I am shock by the fact there are fraud pennies from China.
I would like to educate and protect others from the fake coins, is there a published book to explain how to identify these coins? I know things can change quickly with people creating fraud coins, and the Internet is a faster way to read about it, however it is limited to information...since not everyone goes electronic print. Thank you

Answer
Hello Connie,

First off, there are a tremendous amount of counterfeit coins coming out of China and not just Indian Cents.  eBay has cracked down but for almost 2 years, this was the biggest market for these coins.
Often the fakes are easy to spot.  I have come across coins that simply were not minted in the year on the coin.  That one was easy.  I have seen the front of a Trade Dollar with the back of a Seated Dollar, that was easy.
However, when they get the details correct, they produce a major problem for numismatic collectors everywhere.
They have even taken to counterfeiting PCGS holders whereby the average collector believes he is getting an authentic coin when in fact, everything is counterfeit.

As technology get better, so do the fakes.  There is no law in China about counterfeiting so it is rampant.

There are numerous books on counterfeit detection, however I know of none that take into account today's criminal masterminds.
Certainly, if the coin looks too good, it usually is bad.  Make sure dates and designs are correct for the type, and the biggest telltale is if a $10,000 coin is available for $1,000

Good Luck
Regards
Joe Hylas
www.AllCoins.US