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Coin and Paper Money Collecting/Three coins bought in Iraq

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Expert: Brad Swain - 4/12/2010


Question

Three coins
I have purchased three coins from a local market that look original. I have done some online research and two of the seem to be Silver Rounds. Both resemble Morgan head style, one with 21 stars, no date and Weights and Measures Scales on the reverse with " One Troy Ounce" and "Silver Trade Unit" .999 Silver. The second has 13 stars "E Pluribus Unum" and Dated 1902 with Eagle on reverse gripping Three arrows and olive branch with one star and "Oklahoma Federated Gold and Numismatics, Inc." , "One Troy Ounce" and ".999 Fine Silver". Are these only worth spot or do they have collectors value.
  The third coin I believe to be an original 1874 - CC Trade Dollar. It seems to be in relatively good condition with some wear to the outer edge. Is this a valuable coin? Would it be more valuable if it was graded and how much would it cost?

I could only attach on picture with the question, but have others I could provide.

Answer
Hi Ronald, sorry, they are all fakes.
U.S. silver dollars weigh 26.73 grams and contain .7736 of an ounce of silver. The Morgan dollar (1878-1921), nicknamed after its designer, may have a mintmark letter below the eagle while the other, a Peace dollar (1921-35), may have a mintmark letter by the tip of the tail.
Counterfeits and fantasy pieces mass produced in East Asia, the Middle East and Eastern Europe abound of Chinese and U.S. coins, and many other countries'.
A 'fantasy' piece is when someone creates or hijacks an official design and changes it to suit whatever purpose they imagine that will make the coin interesting enough to sell as a souvenir or conversation piece to someone who is unfamiliar with the genuine pieces.
Most older counterfeits weigh up light, are grayish, may have a weakly struck look to appear worn, look cleaned or antiqued and may have a dull or grainy surface or have typographical errors. Newer ones show that the counterfeiters are refining their skills and obtaining planchets of the right weight to produce passable counterfeits. Weighing it may be the best telltale of its genuineness.
Chinese counterfeit factory: http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/Chinese-Fake... .
You might also try a library for a copy of the Guidebook of United States Coins for pictures, values and lots more interesting info.
Brad

Brad Swain

Expertise

I have been a World Coin and Paper Money collector since about 1965. I will be glad to answer any questions you may have on World coins or currency, tokens, unusual or unknown pieces and attempt to give you estimates of value and historical information about them in a polite and prompt manner.

Experience

45 years collecting coins and paper money.

Education/Credentials
BA History, BA Geography - Virginia Tech

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