It probably didn’t take long after King Alyattes minted the first legitimate coin in ancient Asia Minor for some enterprising Lydian crook to take a stab at making copies. Since the phony coins were made in opposition to the real ones, the Latin words contra (opposite) and facere (make) were combined, passed through France, and by around 1150 had evolved into the English word counterfeit.
While most counterfeits are relatively crude and only made to defraud merchants, the practice of counterfeiting money had grown in scope and sophistication over the course of 800 years to the point that collectors were regularly being defrauded by reasonably good imitations of valuable coins. To counter the counterfeits, in 1972 the American Numismatic Association created a certification service to help identify fakes and frauds. Shortly, coin grading services like PCGS and NGC joined in.
They soon learned that the job wasn’t always easy; counterfeiters had become pretty good at their trade. But so did the services. With their arrays of microscopes and expert knowledge of legitimate mintages, they’ve become quite good at detecting fakes.
But what to do if you’re not an expert and don’t have an array of lab instruments for sleuthing? Look for obvious clues, of course. Here are some:
The Edge is Your Edge
Most counterfeits are cast rather than struck. But casting leaves a tell-tale ridge along the coins’ edge that’s almost impossible to hide. A simple magnifying glass may be all you need to see it. On the other hand, high-quality counterfeits may call for a high-power microscope.
Edges also come into play on the faces of the coins. A common trick is to take a less-valuable coin and add or change the mint mark or date to a rarer one. Close examination will usually show a seam when this is done and incorrect edge details on other features can often be seen, as well.
Have a Weigh-In
Since counterfeits, especially of coins with precious metal content, scrimp on the high-priced metals, they will usually weigh less than the real thing. The difference may be in milligrams or less, so a highly accurate scale is needed. And remember, coins with substantial wear lose some of their weight, too, so unless the difference is substantial, this isn’t a foolproof test.
Prove It’s Real
It’s often simpler to try to prove a coin is real. The characteristics of most coins are well known, so comparing a suspicious one to what you would expect from the real thing may be a faster way to identify fakes. Mismatched dates and mint marks are easy to spot, and die marks should be consistent with known samples. Bag marks and wear patterns should vary from coin to coin. And gold and silver aren’t magnetic.
Detect Defects
Even genuine coins can have minor defects. But counterfeiters often try to hide their defects, and good detectives can usually spot them. It might take an expert, though.
Ring Them Up
Genuine coins typically give off a ringing sound when struck that is distinct from counterfeits. Most fakes will sound dull or at least different when rung in comparison to the real thing. The differences can be subtle, so make sure you have an authentic coin to compare with. Here’s a video.
When In Doubt, Call In a Pro
Some counterfeits are very hard to detect, and professional authenticators are constantly alert to new tricks. Plus, they have equipment and knowledge that the typical collector doesn’t. If there’s any doubt, especially with high-value coins, it’s well worth the expense to seek professional help.
For more information about counterfeit coins, explore:
- PCGS’s in-depth article
- Numismaster.com’s examples of altered mint marks.
- Simple at-home tests for gold & silver at MoneyMetals.com. Just stay away from acid testing on coins, of course.
- Great examples of counterfeit Morgan and Peace Dollars at VAMworld.com.