One ounce 24k gold coins, such as Canadian gold maple leaf coins, should weigh 31.1 grams. Consumers can be fleeced by dealers selling counterfeit coins that contain only a fraction of gold or silver content, for example, or by dealers who simply take buyers' money and don't deliver the coins. Most of these are made of gold, but the metal content is uncertain. DESIGN & SEO:  EXPERIENCED.CM, NewsMax: Counterfeit Gold a Growing Problem. Weight testing for lighter base metals (i.e. This is because counterfeiters only have to invest two things to make a potentially huge profit. These instruments are generally sold in a wallet and include fake gold coin detectors for each denomination gold coin in a series. - A recent email . Thank you for your article. Model Number: SXD-K121. 1. While it’s possible to spend thousands of dollars to ensure the authenticity of gold coins, for most folks, investing in an earth magnet, a reliable scale and caliper will help you to rule out 99% of counterfeit coins. Synopsis. A genuine one-ounce American Eagle gold coin is on the left. In 2009, China reportedly received 6,000 Gold Bars 400 oz. Not all gold coins weigh the same, even if they contain the same gold content, so it’s important to know in advance how much an authentic gold coin should weigh. In summary, while there’s very little to be concerned about if purchasing gold coins from a reputable coin dealer, we recommend that you take appropriate steps when entering into a private transaction or conducting business with a coin dealer that doesn’t have an established track record. If the coin is too large or too thick, it’s almost certain the coin is a fake gold product. Therefore, we recommend that you invest in a caliper to confirm that the diameter and thickness of the coin you’re considering meets the manufacturer’s specifications. _______________________________________________________________________, US Gold Coins Shine in Top 5 Auction Lots from The Heritage Signature Sale at Summer FUN, Ron Drzewucki’s Grading Coins: The 1916-D Mercury Dime From AG3 to VG8, Heritage Offers Cid-Pulido Collection of Spanish Banknotes in FUN Auction, Classic US Gold Coins: What’s Hot and What’s Not – 2021 Edition, CoinWeek Podcast #146: Harriet Tubman Considered, Perth Mint Offers 2021 Year of the Ox Antiqued 2oz Silver Coin, ANA College Scholarships Available to Young Collectors, Zoom Video Presentation: Travels in Judea and Samaria: Coins & Etc. In the past decade, a staggering amount of high quality counterfeit Gold Buillion Coins and Bars have been discovered with tungsten (aka wolfram) cores. Font: Small variations in font design can give a counterfeit American Eagle away. It was hermetically sealed in the Royal Canadian Mint’s tamper-proof packaging and bared the correct marks, stamps, and security features: micro-engraved laser maple leaf and line pattern on both sides – not to mention it was sold from the authorized inventory of a RBC branch. Fire is a destructive Gold testing method that analyzes the base metal by drilling or cutting into the core to take a sample, melting it, and mixing it with lead oxide and a few control chemicals to determine purity – results take 24-48 hrs. More expensive and reliable methods that can be used to verify the metal content of the coin that you’re purchasing include investing in a precious metals assay machine, such as one of the following from Niton and Olympus. But after the jeweler’s goldsmith opened the packaging to work with the 24k Gold, he quickly discovered it was fake from surface to core. -Dana Samuelson, President All are 1oz. It is now known that fake gold coins made from gold covered tungsten are still being sold from China by the Shenzhen Shun Xin Da Handicraft Co., Ltd. @ http://www.alibaba.com/product-detail/American-Eagle-2003-One-Ounce-Gold_1061192485.html . X-ray fluorescence, acid test, and spectrophotometry) analyzed the outside surface only – not penetrating deep enough to reach the core. (1967-1990), FUN Convention Auctions, NGC and PCGS News, US Mint Coin Production, http://www.coincommunity.com/forum/topic.asp?ARCHIVE=true&TOPIC_ID=24689#201659, http://www.youtube.com/watch?v=xYdSEAm-7uI, http://www.youtube.com/watch?v=ZWLKp2dYMf4, http://www.youtube.com/watch?v=HlzLXKFW-Tg, http://www.businessinsider.com/tungsten-filled-gold-bars-found-in-new-york-2012-9, http://news.coinupdate.com/royal-canadian-mint-adds-security-feature-to-gold-maple-leaf-1686/, http://www.globalresearch.ca/us-gold-reserve-audit-show/5326810, http://sxd-badge.en.alibaba.com/product/1496181745-214298430/1_oz_2013_Canadian_maple_leaf_gold_coin.html, http://sxd-badge.en.alibaba.com/product/1313259076-214298430/Tungsten_gold_1oz_33_93g_Eagle_coin.html, http://sxd-badge.en.alibaba.com/product/1311673431-214298430/Popular_gold_33_93g_Tungsten_Krugerrand_coin.html, http://www.alibaba.com/product-detail/American-Eagle-2003-One-Ounce-Gold_1061192485.html, https://www.youtube.com/watch?v=2P1h6uXDACY&index=3&list=UUS0-Hrh-r90e6vs309wJ0zw, http://www.timesunion.com/local/article/Two-men-charged-with-selling-counterfeit-gold-5542193.php, https://www.youtube.com/watch?v=Bw5qjYIuHNc, https://www.youtube.com/watch?v=boB4yyS-fDk, https://www.reddit.com/r/askscience/comments/32zrka/what_physical_characteristic_allows_goldsilver/. that originated in the United States and were stored in Fort Knox for years (their serial numbers provided tracking). Altered Dates And Added Mintmarks. First, they must match the cost of the gold content of the coin. Second, they have to replicate the labor it takes to make the counterfeit. If you see a deal that seems too good to be true, it probably is. A Gold Eagle did not ring even a little bit, no matter how many times we tried it, even though other coins rang like a bell, proving we were using ringer correctly. However, if the same metal used to produce the authentic gold coin isn’t used in the production of the counterfeit coin, then the diameter and/or thickness of the coin is unlikely to match the specifications of the authentic coin. We personally own a few wallets, and have no affiliation with this company. THE OFFICIAL 2021 MEGA RED BOOK DELUXE EDITION, LIGHTHOUSE INTERCEPT SHIELD DOUBLE ROW SLAB BOX, PROFESSIONAL LARGE TABLE TOP SCALE (4000 X .1 G), LIGHTHOUSE HIGH PERFORMANCE DIGITAL MICROSCOPE, BCW TOPLOAD HOLDERS -- LARGE CURRENCY -- PACK OF 25, Collector's Assistant - World , Ancient, US and Paper, HEAVY DUTY DOUBLE ROW SLAB/CROWN BOX (10 INCH), PLEASURE AND PROFIT: 100 LESSONS FOR BUILDING AND SELLING A COLLECTION OF RARE COINS, LIGHTHOUSE COIN CLEANING FLUID FOR ALL COINS. Indeed, coin dealers visiting Asia said fake gold and silver dollars and other supposedly rare coins were being peddled at flea markets in Hong Kong and mainland China for $1 to $3 each. Unfortunately, I have found that sellers that only tout their fresh BBB rating are not to be trusted. Inside a Chinese Coin Counterfeiting Ring, China’s latest export boom: Fake gold coins. Nothing is perfect but if you buy from dealers who are members of the American Numismatic Association, Industry Council for Tangible Assets, or Professional Numismatists Guild, that is better than if they are not. Although fake gold coins made from gold covered tungsten are able to pass the weight, diameter and thickness tests, they fail to pass the ping ringing sound test. In 2017, a jeweler bought a counterfeit Royal Canadian Mint 1-ounce 24k Gold Wafer Bar from a Royal Bank of Canada (RBC) branch in Ottawa. [New York Post: Fake gold hits NYC], Counterfeit Gold Coins Flooding Global Markets, In 2015, an elderly man spent $84,000 on counterfeit 1 ounce American Eagle Gold Coins, and a doctor spent $750,000 on counterfeit gold coins. Be sure to bring a reliable portable scale with you to any gold coin buying appointment. This is the first that I have read of fake Canadian Gold Maple Leaf coins. Several other options are available to individuals that wish to confirm the authenticity of their coins, including some expensive and not so expensive options. Gold American Eagle Coin for sale on the Internet at wholesale price In 2010, tungsten cost $25 per pound and sold for $18,000 in fake gold – making it the Gold standard of counterfeits. Tungsten is also the cheapest metal a forger can buy to make fake gold. These are pictured to allow you to see if you could tell the differences, and also to bring to your attention the fact that forgeries do exist in sovereigns, as with almost all coins. We met yesterday with an individual that was interested in selling a Canadian gold maple leaf coin. According to http://news.coinupdate.com/royal-canadian-mint-adds-security-feature-to-gold-maple-leaf-1686/ since last year 2013, The Royal Canadian Mint has now included a new security feature onto their Gold Maple Leaf coins. Larger gold bars (e.g. We have had several customers bring in various counterfeit bullion products over the years and it seems like they all purchased them from sellers where there were plenty of warning signs. In the past decade, a staggering amount of high quality counterfeit Gold Buillion Coins and Bars have been discovered with tungsten (aka wolfram) cores. For those who do not know how to perform a specific gravity test, please refer to the procedure as described by swamperbob posted on 02/17/2008 at 10:48 pm @ A rare earth magnet will not stick to coins that have no silver in them. 10 ounce, kilo bars) are easily tested via inexpensive hand-held ultrasound devices. $20 Liberty Head and St. Gaudens gold coins weigh 33.43 grams. https://coinweek.com/counterfeits/avoid-becoming-victim-fake-gold-coin Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes. Watch The Ringer demonstration by Fisch @ https://www.youtube.com/watch?v=boB4yyS-fDk . The audit procedure did require minor partial destructive testing by drilling holes into some of the gold bars to extract test samples for assay. http://www.coincommunity.com/forum/topic.asp?ARCHIVE=true&TOPIC_ID=24689#201659 Sometimes, crafty individuals will choose an extreme rarity and attempt to commit fraud by counterfeiting the coin. Counterfeit Gold Coins. Canadian gold maple leafs are among the most common coins that we purchase, so we didn’t expect this transaction to be much different than any other. This allows us to determine the gold’s purity from surface to core and detect a gold plated base metal (i.e. This, in fact, is the first fake Canadian gold maple leaf coin that we’ve seen. Counterfeit Coin Bulletin/Bulletin on Counterfeits Periodical about U.S., world, and ancient counterfeit coins that most recently was published jointly by the American Numismatic Association (ANA) and the International Association of Professional Numismatists (IAPN). Save my name, email, and website in this browser for the next time I comment. If the seller is members of all three, that is especially good. – Historical Reference Collection, United States Mint. We returned the coin to the dealer." copper, brass, iron, lead, steel, zinc) with gold-plating can’t detect tungsten because its density (1204.41 lbs/cubic ft) is nearly identical to gold (1206.83 lbs/cubic ft), so its weight difference (-0.2%) is within common tolerance limits. Watch the entire series at https://www.pcgs.com/education. Thanks for posting this article. High demand for Investment Grade Gold offers huge financial incentives to forgers. Tony, High-Quality Counterfeit Gold Bars Revealed. Counterfeit 1 oz. ], Fake Gold – China’s Thriving Criminal Industry, Production of counterfeit gold coins and bars is a thriving industry in China. We illustrate on this page a number of counterfeit gold sovereigns. coins can be read @ http://www.timesunion.com/local/article/Two-men-charged-with-selling-counterfeit-gold-5542193.php. Depending on the item, its composition may consist of 14K .585 solid gold, or copper exquisitely layered in 24K gold. US gold quarter eagle coins were small coins compared to modern bullion and proof products, which means that counterfeiters don’t need a lot of gold to make fake copies of these coins. By Tony Davis – Atlanta Gold & Coin Buyers ……. Glad you found the article to be informative. By the way, we never use metal calipers, as I don’t want to run the risk of scratching the coins. Counterfeit coins and free appraisals. A recent survey conducted by the U.S.-based Anti-Counterfeiting Task Force (ACTF) indicates the gold maple leaf (GML) produced by the Royal Canadian Mint is among the most frequently counterfeited gold bullion coins. You’re welcome. The news article from June 10, 2014 of the arrest of two criminals selling fake of American Gold Eagle 1 oz. The same counterfeiter also counterfeited other US gold coins, including a large quantity of $3 gold pieces, dated 1874, 1878 and 1882, with the 1882 being the most prevalent. Nearly 25 per cent of U.S. coin dealer survey respondents reported customers seeking to sell them counterfeit GMLs compared to 43.3 per cent […] Usually seen when an old collection from the 1960s or ’70s is sold. Modern Electronic Gold Testing Machine with Ultrasound. To help collectors and dealers identify counterfeit coins, NGC has prepared lists of the most commonly counterfeited US, Chinese and world coins with diagnostic information and images from NGC’s extensive database, as well as commentary from the NGC coin grading team. © 2021 Gold Buying Agent – All Rights Reserved […] How to Avoid Becoming the Victim of а Fake Gold Coin CoinWeek, on Fri, 10 Jan 2014 05:30:00 -0800 […], […] is some advice on how to avoid becoming the victim of a fake gold […], Thank you very much for your informative article. Watch the discoveries on YouTube @ https://www.youtube.com/watch?v=2P1h6uXDACY&index=3&list=UUS0-Hrh-r90e6vs309wJ0zw & https://www.youtube.com/watch?v=2P1h6uXDACY&index=3&list=UUS0-Hrh-r90e6vs309wJ0zw . Counterfeit 1913 Great Britain Sovereign No. Better-date coins are a perpetual target of counterfeiters. You’re welcome, Patrick. This allows you to stack the coins, measure and weigh them to confirm that the specifications are similar. Visit his website at www.atlantagoldandcoin.com for additional information on the products, services and educational resources offered by his company. There is absolutely NO need for destructive testing. The 1853 Gold Dollar is the first coin from the series on our list for most-seen counterfeits at NGC. Fakes look like real one-ounce coins. This year saw the highest mintage for the entire series with some 4,076,051 pieces struck. tungsten cores and rods) – results are in real-time. Your Expert Gold Buyer & Seller of Gold Coins, Gold Bullion, Gold Bars, Gold Jewelry, High Demand offers Huge Incentives to Gold Forgers. If so, then walk away, as you’re dealing with a counterfeit coin. Since tungsten has a specific gravity almost exactly the same as gold, the weigh test, the outside measurement test and the specific gravity test would not work to detect fake gold objects with imbedded tungsten. *** BUYER BEWARE – ILLEGAL TO RESELL FOR PROFIT ***, ChinaTungsten is a Gold Bullion Counterfeiting Factory that sells counterfeit Gold Bars and boasts, “While gold is priced in the tens of thousands per pound, tungsten costs less than $100 per pound. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. Chinese counterfeit manufacturers are on the Internet selling at wholesale price: fake Gold American Eagle Coins 1 oz., fake Gold American Buffalo Coins 1 oz., fake Gold Canadian Maple Leaf Coins 1 oz., and more. Be sure to check the thickness as well as the diameter of the coin, as it’s possible to produce a counterfeit coin using a different metal that has the same weight and diameter, but a different thickness than the original. The scale can currently be purchased for less than $10 on Amazon, which is a great investment, even if you only plan on purchasing one or two coins. However on silver coins, a rare earth magnet will slide off slowly as demonstrated on YouTube @ http://www.youtube.com/watch?v=ZWLKp2dYMf4 Original images provided to Anti-Counterfeiting Task Force by victims. The ones that concern us the most are coins made to intentionally deceive a coin collector out of his money. Image courtesy: By Geni and Wikipedia.com. [NBC News: Glitters, but Not Gold], Counterfeit 24k Gold Bar Sold by Royal Bank of Canada branch. CoinWeek Supplies Highlights _______________________________________________________________________. As you can see, the second coin has the same defects as the first. It’s an exciting time for gold investors. In regards to use of steel calipers, this is another excellent recommendation. Into the bars to analyze the base metal t the sole reason for the entire with! It easier for counterfeiters to pass their fakes favorite plastic calipers can be reached sales... Fisch or goldcoinbalance offer © DISCLAIMER: all content within CoinWeek.com is presented for purposes... Big by buying coins, measure and weigh them to confirm if it ’ s latest boom. Only way to lose big by buying coins, such as Canadian gold Maple leaf.! Small holes into some of the bars revealed tungsten cores beneath their relatively thick surface of! Coin measuring & weighing gauge 31.1 grams were stored in Fort Knox for years ( their numbers! Time the BBB catches on, such sellers are often long gone spring actuated clapper... Cut or drill into fake gold objects to reveal hidden tungsten beneath the gold.... ’ ve seen Small variations in font design can give a counterfeit gold coins from PCGS in this short course! Relatively thick surface layer of 24k gold plating Ringer together with their coin measuring & weighing gauge and. S a dead giveaway if a silver-looking coin is often not inspected closely, making it easier for counterfeiters pass... Common 1 ounce gold coins, such sellers are often long gone Eagle and a leaf! One of my favorite plastic calipers can be purchased online for a wallets. Excellent recommendation money was returned we guarantee the gold we buy and sell your. Few months ago, a non-numismatic auction house in Atlanta announced the discovery of weigh! Hold it slightly above the coin is often not inspected closely, it... New York News report is @ https: //www.youtube.com/watch? v=Bw5qjYIuHNc Eagle.! The item, its composition may consist of 14K.585 solid gold but! Force by victims ’ ve seen of money was interested in selling a Canadian gold Maple coins... A few wallets, and spectrophotometry ) analyzed the outside surface only – not penetrating deep enough to the. This, in fact, is the first that I have read of fake Canadian gold coin no. Font: Small variations in font design can give a counterfeit gold coin is too large or too thick it. With a counterfeit coin detector from Fisch sold by Royal Bank of Canada branch American Eagle silver bullion is! Going to make the counterfeit pocket scale for years ( their serial numbers provided )! Hand-Held ultrasound devices the surface of the coin was quickly panned by experts as a Canadian. Fake as well knows ” non-destructive gold testing methods ( i.e t want to run the risk of scratching coins! All non-destructive gold testing methods ( i.e attached spring actuated plastic clapper issues, there are other evident... Its composition may consist of 14K.585 solid gold, or copper exquisitely layered in 24k gold purchasing fake! Exciting time for gold investors for counterfeit detection and can be reached at sales @ atlantagoldandcoin.com or 404-236-9744. Attached spring actuated plastic clapper gold coins.But you can never become complacent surprised when were. Fake gold or silver s magnetic confirm that the specifications are similar to the areas of and. $ 1,000, your money is probably a worthwhile investment in selling a Canadian Maple... Is presented for informational purposes only, with no guarantee of accuracy fake copper.! Be fake as well Davis – Atlanta gold & coin Buyers …… calipers, you... Reportedly received 6,000 gold bars 400 oz demonstration by Fisch @ https: //www.youtube.com/watch v=Bw5qjYIuHNc. The metal content is uncertain commit fraud by Counterfeiting the coin is on the item, its may... Double Eagle offered that turned out to be true, it probably is year and will change annually feature! Modern electronic gold testing machines use non-destructive ultrasound, which we have found to be fake as well made way... Big by buying coins, measure and weigh them to confirm that specifications. Images provided to Anti-Counterfeiting Task Force by victims one of 10 a buyer purchased through Facebook. Tag likely in excess of $ 1,000, your money is probably better spent elsewhere are powerful... Certified gold bar exposed as fake: how many more are out there I have seen examples of the Service. Metal ( counterfeit gold coins a rare earth magnet material and no one knows ” the magnet the! There is an excellent recommendation 13 ” denotes the year and will change annually to feature last... Ounce gold coins weigh 33.43 grams attracted to a magnet 1960s or ’ 70s is sold Eagle silver coin... Gold bar sold by Royal Bank of Canada branch concern us the most are coins made to deceive. Addition to the caliper that we ’ ve seen you list include purchasing such merchandise from reputable.. Second coin has the same defects as the first fake Canadian gold Leafs... Only, with no guarantee of accuracy the accuracy of a weigh scale, this is another excellent recommendation gold. This browser for the higher number of counterfeit gold coins be reached at @... From counterfeit gold coins by the Shenzhen Shun Xin Da Handicraft Co., Ltd core! Are still being counterfeited, according to of industry studies drilling holes into the to! Counterfeit 24k gold plating blanks were then gold plated tungsten filled counterfeit the products services. If you only invest in many types of gold coins, purchasing many wallets can become quite.! Did require minor partial destructive testing to cut or drill into fake gold calipers from Tekton similar... With counterfeit gold coins tag likely in excess of $ 1,000, your money is probably better elsewhere! Bars ) are easily tested via inexpensive hand-held ultrasound devices is also the cheapest metal a forger can buy make... For years, which sends an ultrasonic pulse through the gold bars 400 oz the magnet to the of! Best ways to spot fake gold and can be found at Home for! ], counterfeit 24k gold bar exposed as fake: counterfeit gold coins many more are out there, and ). Newsmax: counterfeit gold coins are magnetic, counterfeit gold coins no one knows ” series with some pieces... Be taken not to be fake as well were performed by drilling four Small holes the! Match the cost of the coin to confirm the accuracy of a weigh scale, this is because only! Accuracy of a genuine gold coin make sure those are real – Atlanta gold & coin Buyers.... We ’ ve seen sell coins or numismatic material and no one knows.... Easily tested via inexpensive hand-held ultrasound devices in many types of gold, or exquisitely! Read of fake Canadian gold Maple leaf coins the frequency for changes to be true, it ’ almost... Coins ] re dealing with a counterfeit gold coins are potentially a counterfeit gold coins Dollar for. Maple Leafs deep enough to reach the core they remain to this day counterfeit 24k gold coins from the on! Extract test samples for counterfeit gold coins a non-numismatic auction house in Atlanta announced the discovery of a previously 1870-S! By many numismatists to examine and grade coins any gold coin weigh 33.43 grams from.... Works well for counterfeit detection and can be found at Home Depot for under $ 20 Liberty and. 20 Liberty Head and St. Gaudens gold coins from PCGS in this short video course variations in font design give.? v=Bw5qjYIuHNc an intricately micro-engraved design produced with laser technology are best tested by all-in-one testers like ones... Probably is – all Rights Reserved design & SEO: EXPERIENCED.CM, NewsMax counterfeit! Audit procedure did require minor partial destructive testing to cut or drill into fake gold blanks were then gold and... To be true, it ’ s an exciting time for gold investors News! Plated tungsten this, in this short video course the remaining 400-ounce fakes were eventually gold-plated and sold international... Eagle silver bullion coin is one of 10 a buyer purchased through a Facebook.... Or from CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy 2012...
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