Coin fraud is a reality. However just take these easy steps and you will know how to identify and avoid buying fake American Silver Eagle coins.
The easiest and best way to avoid becoming a victim of coin fraud is by accumulating knowledge of what a genuine coin looks like and then applying some common sense. If a coin just doesn’t “look right” don’t buy it.
Check the Weight of the Silver Eagle
Many fraudulent coins do not weigh the same as a real coin. Genuine silver eagles weigh 31.101 grams. If the coin weighs more or less than this amount do not buy it because coin weight is something that almost all forgers consistently get wrong.
Does the American Silver Eagle Have a Reeded Edge?
All silver eagles have reeded edges. If you ever see one without reeding it is most likely a fake Chinese silver coin. And if it is reeded but there’s a seam around the edge of the coin avoid purchasing it.
What is the Date of the Coin?
Check the date. Amazingly enough, any Chinese Silver Eagle forgeries are dated 1906. The United States mint first started producing these coins eighty years later. The wrong date doesn’t mean it’s a rare error. It means it’s a forgery.
How Does the Coin Look?
Silver coins have beautiful luster and sharp relief. If the coin you’re looking at is dull and grey it’s not a genuine silver coin. Some higher quality forgeries are silver plated. However, if you look at these under a magnifying glass you’ll either see tiny places that missed being plated (check between the reeding and in the crevices of the coin) and it will have a soapy look.
How Does the Coin Sound?
Finally, if you carefully tap a silver coin with another coin you will hear a distinctive bell-like ring. If you hold the coin between the tips of your fingers, tap it, and it makes a tinny sound that sounds like “dink” it’s certainly not silver.
One way to safely purchase Silver Eagle coins is by buying them on eBay. You can find some terrific deals and protect yourself by first checking the seller’s rating – the more positive feedback the better.
Also, when buying at eBay, always carefully read the description of what you want to buy before bidding on it. And, if you have any questions, make sure to send an email to the seller and get your questions and concerns answered before you buy.