How Do You Know
This is not an easy answer, but the more valuable or popular the coin is there is a greater possibility there are replicas and counterfeits. All counterfeit types have particular characteristics usually detectable only by an expert. There are also genuine coins altered to appear specific by adding or removing mint marks or other characteristics that make a particular coin rare and valuable. The best way to learn this is to contact our experts at Preloved Gold but to start, here are some tips how you can check if the coin is real.
Replicas: They are actually reproductions of some historical events or famous coins. They can usually be found at souvenir shops or distributed in the market. The easiest way to test it is to grab a simple magnet and hold it near the precious metal coin. If the coin is even slightly attracted to the magnet, then you know you have a fake, as these replicas are mostly made of cheap metals with contents of iron and steel. Also, if you examine the seam around the coin carefully and see less detail, than you probably have a replica. Unfortunately, replicas are practically worthless and before you decide to invest in coins, examine the piece in detail or even better- take it to your trusted expert.
Counterfeits: They come in a variety of different forms, sometimes to recreate a precious coin that is normally minted by a country or even to modify a regular coin to make it look more expensive and worthy. Counterfeits are produced by an individual to trick and deceive buyers that the coins are legitimate. As gold and silver are non-magnetic metals, always check if the coin is attracted to magnet. Another accurate and certain way to test for counterfeit is to carefully examine the coin paying attention to weight, diameter, thickness and year of minting. With digital scale and a pair of calipers you can measure the coin’s weight, diameter and thickness (the year of minting is just a visual test).
With magnifying glass, you can also check counterfeit coins for bubbles or pimples made in the process of casting. In order to determine if the coin isn't a counterfeit, compare it with other coins of the same kind, or even better, contact an expert.
Alterations: All sorts of alterations to coins are made to deceive collectors and buyers. The coin can be altered in many different ways, sometimes by changing its design, mintmarks or dates. The value of your coin can be diminished by polishing, sandblasting, toning or plating of a genuine piece. If you want to confirm that your coin has not been altered, it is best to compare it with other under magnifying glass as well as have our expert examine it for you.
Precious coins with historical and monetary value are rare and high in value, meaning they almost always have a guarantee of authenticity and this should be one of the first things you ask for before purchasing a coin.
Send your coin to Preloved Gold today! We would gladly examine, test and offer you a price. Not sure whether it is fake or authentic? Leave it to our experienced appraisers to determine that for you!