In the past decade, a staggering amount of high quality counterfeit Gold Buillion Coins and Bars have been discovered with tungsten (aka wolfram) cores. Professional Numismatists Guild (PNG). 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. As you know, in this industry, you can never become complacent. The description specifies that they are made from 1 micron gold plated Tungsten. Fake 1875-S U.S. Trade Dollar Fake Coins,Counterfeit Coins,& Altered Coins Fake 1943-S Copper Lincoln Wheat Cent Counterfeit coins are created for a variety of reasons. You’re welcome. Glad you found the article to be informative. A recent study of the 50 most commonly counterfeited U.S. coins by the Numismatic Guaranty Corp., an industry grading company, 43 are gold coins of different eras. The best protections beyond those you list include purchasing such merchandise from reputable dealers. 2020 © DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. Fisch now sells The Ringer which is essentially a plastic coin clamp with an attached spring actuated plastic clapper. For those who are unfamiliar with the infamous scam about gold bars filled with tungsten, the article can be read @ http://www.businessinsider.com/tungsten-filled-gold-bars-found-in-new-york-2012-9. A few months ago, a non-numismatic auction house in Atlanta announced the discovery of a previously unknown 1870-S Three Dollar 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. [Canadian certified gold bar exposed as fake: how many more are out there? I am worried there are more of those out there, and no one knows”. There is absolutely NO need for destructive testing. – Historical Reference Collection, United States Mint. Gold coins are still being counterfeited, according to of industry studies. Calipers from Tekton are similar to the caliper that we use. All United States silver and gold coins are not attracted to a magnet. The coin was accompanied by original documents from the era. Be sure to bring a reliable portable scale with you to any gold coin buying appointment. that originated in the United States and were stored in Fort Knox for years (their serial numbers provided tracking). ], Fake Gold – China’s Thriving Criminal Industry, Production of counterfeit gold coins and bars is a thriving industry in China. Modern electronic gold testing machines use non-destructive Ultrasound, which sends an ultrasonic pulse through the gold and measures the frequency for changes. During 2012 there was the notorious scam in which tungsten was discovered to be sophistically imbedded into fake gold bullion bars. This, in fact, is the first fake Canadian gold maple leaf coin that we’ve seen. Most of these are made of gold, but the metal content is uncertain. 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. 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. The Chinese claim that in 1995, during the Clinton administration (Robert Rubin, Alan Greenspan and Lawrence Summers), between 1.3 and 1.5 million 400-ounce tungsten blanks were manufactured by a sophisticated refiner in the United States – over 16,000 metric tons. We have used the American Weigh digital pocket scale for years, which we have found to be very reliable. tungsten cores and rods) – results are in real-time. Interestingly, while entire date sets of counterfeit Indian Head quarter eagles, half eagles, and eagles have been seen, relatively few pre-1840 gold counterfeits exist. FIVE WAYS TO SPOT A FAKE COIN. Better-date coins are a perpetual target of counterfeiters. We personally own a few wallets, and have no affiliation with this company. Counterfeit 1 oz. Gold American Eagle Coin for sale on the Internet at wholesale price [NBC News: Glitters, but Not Gold], Counterfeit 24k Gold Bar Sold by Royal Bank of Canada branch. An ordinary magnet will stick to cheap ferrous alloys if they are present in coins. [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. 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. By the way, I’m a regular reader of your articles and always learn a lot. [The Fort Knox Conundrum], In 2012, at least 10 counterfeit Gold Bars made of tungsten were sold by a well known Russian salesman to unsuspecting dealers in Manhattan’s Diamond District. Canadian certified gold bar exposed as fake: how many more are out there? 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. High demand for Investment Grade Gold offers huge financial incentives to forgers. About 640,000 of the tungsten blanks were then gold plated and shipped to Fort Knox, where they remain to this day. 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