Large numbers of counterfeit United States coins are coming out of China. DO NOT BE FOOLED by these obvious fakes! Unfortunately, most people doing research on these items have already fallen victim.
Over the past few of years we have seen hundreds of these and other varieties of U.S. coin replicas being brought to us by folks who thought they were getting a great deal, or were doing someone a favor.
The stories abound:
- “I was at a gas station and someone approached me who needed money to buy gas and they sold me these coins”
- “I was at a bar and a guy sold me these coins”
- “I bought them at a swap meet”
- “I bought them on an internet auction site”
- “My bank teller who knew I collect coins traded me one for face value”
- “A guy gave me these for cab fare”
The list goes on. In every case the victim thought they were doing someone a favor or they were getting something really valuable for next to nothing. The old adage “if something looks too good to be true usually is” applies here as well.
Next post will contain some examples and additional information on spotting counterfeits.