Trading and selling valuable coins have been a growing business and more and more people are getting interested. However, it is not a secret that there are also plenty of ‘fake’ or counterfeit coins in this industry. This is why if you are into this business, it is very important that you know how to spot a fake coin. Rare coins for sale are not hard to find but it is very difficult to differentiate if it’s genuine or not, especially if this is your first time.
Most of the tie, fake coins will not have the same mintmarks that you can usually find in authentic coins. So make sure that you do your research about the marks and designs that you should find in the coin you are planning to purchase. If you think the markings do no add up, ask for paperwork to back up the sellers claim that the coin is real.
Take A Look At The SEAMS
With the counterfeit coins, they usually have casting seams. This can be very visible in the naked eye. They will also have hole markings that you can easily see. Other than that, coins are designed or will have a texture of the original and its series. If you see something that is inconsistent, then you have to think twice about getting it.
The MAGIC Trick
Now you must always remember that magnets do not attract elements like gold and silver. This can be tricky when purchasing the coin online because the only way you can identify the coin to be genuine or fake is when you place it near a magnet. If the coin is attracted to the magnet, then there is no doubt that it’s a fake.
RELIEF of the Coin
For counterfeit coins, the sellers will usually have a hard time getting the relief right. They can be too high or too low. So test its authenticity by stacking it up with the coin that came with the same series. If it topples over, then you have a reason to doubt its authenticity.
Let It MELT
If you are buying a silver coin, remember that this element is a good conductor of heat. This means that it can emit enough thermal energy that can melt an ice cube. For example, if you place an ice cube on your silver coin, it should start the melting process if it’s authentic. If it doesn’t, then there is a huge possibility that what you have is a fake silver coin.
Most Important TIP: Buy From Reputable Sellers!
We all know that these valuable coins are not cheap. In fact, they can be good investments. However, you have to make sure that you are purchasing from the most reputable sellers. This is the best tip that you can get from any coin collectors or traders. Plus, you should purchase coins that have already been authenticated. This way you can avoid doing business with bogus sellers, especially online. Take note of the tips mentioned above and carefully choose your seller.