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Coin and Paper Money Collecting/Counterfeit Chinese Dragon coins

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Expert: - 5/30/2010


Question

Counterfeit chinese co
I just wanted to offer these images up to you to use for discussions on Counterfeit coins as examples. I have read several of your Q%26A articles on these type coins specifically the Dollar Dragons. These are the 1/5th dollar or 20 cent version. I found these while cleaning a storage area in a bag of foreign coins. Although I am not a Foreign coin collector I keep them when I find them. the genuine article must have some numismatic value or they wouldn't waste the time counterfeiting them, Especially as you can see these show various stages of wear unlike some of the US Counterfeits from other countries I have seen where you couldn't tell any difference between a group of coins. I understand from what I have read that these coins where made from Silver these I have look like silver but all seventeen of them stick to a magnet like a washer. If you would like to have one for a sample please let me know and I would be glad to share with you. Have a great day from a fellow collector.
Chuck

Answer

Hi Chuck,
You have made a wise discovery. Many collectors are fooled by the smaller denominations, like the 5, 10 and 20 cent coins. The market is flooded with counterfeit dollars, but many people assume that no one would bother faking the smaller ones which are not nearly as valuable.
These appear to be the Pei Yang (Chihli) province type coins. These would be worth several hundred dollars each in mint condition, but would not have a high value if they were genuine with a good amount of wear. Counterfeiters often go after cheaper stuff because it is less suspicious and they can get away with it for much longer. The charges for being caught are also less severe if the amount of money involved is small.
As you mentioned, they try to make them especially convincing by adding the appearance of wear. This is typically done with a weak strike and some rubbing with a special cloth. Sometimes they are struck through a sheet that prevents the sharpness in the details from being struck. The result is a new coin that looks circulated.
Since they stick to a magnet, they are likely "German silver" or "pig silver", which are nickel and/or iron based alloys that are magnetic.
Thanks for the question! =)

Dmitry Livshits

Expertise

My specialty is world coins from the 18th to 20th centuries, primarily non-US foreign coins and related areas such as errors and exonumia (tokens, medals, etc.). I can answer questions relating to identification, grading, selling, preservation and evaluation of such items. In addition to catalog value, I can give you the practical market value and trends for specific types of coins. I will also take questions regarding counterfeits (both modern and antique) and on how to identify them. I am NOT knowledgeable in paper money/banknotes, ancient or "shipwreck" coins. Thank you.

Experience

Collector of world coins since early childhood. Access to a variety of auction records and reference material. You can also find me on Facebook.

Education/Credentials
A.S. in Psychology (2006), B.A. in Forensic Psychology (2008), M.A. in Forensic Psychology (2011).

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