April 17, 2010

Is That a REAL Gold Coin

Is that a Real Gold Coin ?

I remember seeing Pirate movies where Captain Blood or another hero would chew on a gold coin to test its authenticity.
Dentists must have made a fortune in those days !

Actually that was fairly realistic.. gold is really very soft (and Canadian Gold Coins are really quite soft because they are purer)

Why would you want to do that.
The reason is very simple
FAKE GOLD COINS from China

Although they are sold as REPLICAS they are sometimes placed on auctions as the real thing.
Most of these are really base metals and they are gold plated.
Some signs are the letter R in the ad or facsimile or copy but what worries many collectors and dealers at present is the vast quantity of fake silver coins that are being churned out in China.
Particular one to look for at the moment are the Panda Series.
There are many Panda Coins but copies exist of years where none were actually made !
Check this on our article on Chinese Coins.

Although these are actually sold as replicas and are meant too be stamped with the word Replica, in fact some Chinese sellers are actually selling fakes as real silver coins.
This is more worrying than fake gold coins as the difference in selling fake and real gold coins is actually very little and is probably not worth the effort of making dies and minting gold coins.
This is not the case in silver coins however as the base metal is much cheaper and many collectors do not realise the existence of copies.

I advise my customers only to buy coins with an NGC or PCGS slab where there is any suggestion of the existence of reproductions/copies.

There are testing kits available if you are worried about the authenticity of any coins you have bought.
The best advice though is to carefully check the feedback of any seller before buying.
If he or she has sold dubious coins in the past then there is a possibility that he/she will do so again

articles expanded on the same theme

http://greatgoldcoins.net/nazi-fake-coins/

http://greatgoldcoins.net/scams-on-gold-coins/

http://greatgoldcoins.net/identifying-fakes-and-forgeries/