As soon as something gains value, people start looking for a way to fake it and get profit from it. Counterfeit coins existed from ancient times when the very first coins were minted around 600 BC.

Back in the day, counterfeit coins were used to deceive merchants and citizens or as an act of sabotage aimed to devalue the local economy. In our world of digital finance, a counterfeit coin might seem to slip into oblivion slowly. However, this “art” of faking still exists.

Today it has flourished in the numismatics world. Counterfeit coins circulate on the market of collectibles and deceive gullible newbies, forcing them to spend thousands on replicas. \

In this article, we shall explain why counterfeit coins are made and how you can quickly identify and avoid them. It is essential to understand that even the sellers are not always aware that their product is counterfeit. The reputation of the dealer is necessary but does not guarantee the authenticity of their items. However, there are many ways to understand whether the coin you will buy is worth your attention and money.

What are counterfeit coins?

Talking about counterfeit money, most of us remember scenes from Hollywood movies about drug lords and the mafia. However, the meaning of fake is broader than you imagine. Counterfeit coins are any items that are issued without the knowledge and approval from the official minting establishment.

And the process of faking is not all about dirty basements and crime lords. For example, China, a country widely famous for its “imitating” industry, officially issues “replicas” of all kinds of coins known to humankind. Those items are widely sold on various Chinese marketplaces, from where they start their journeys to coin markets and online auctions, often becoming an instrument of deception for unscrupulous dealers.

However, such coins are pretty easy to identify and avoid.

• Always buy higher priced coins certified by widely-recognized credible experts;
• Be cautious buying from new dealers who have low  history or reputation on the market;
• Don’t fall for bargains, sales, and special offers on the coin market. If it’s too good to be true, it probably is;
• Once have the slightest concern, make sure to contact a credible independent expert for advice about the coin’s true nature and origin.

Technically, counterfeit coins can be divided into three main groups:

• Struck counterfeits;
• Altered coins;
• Cast counterfeits.

Understanding their distinctive features will help you quickly identify and avoid fake collectibles.

Struck counterfeits

The main problem with struck counterfeits is that their manufacture is almost identical to the original minting process. To create a struck coin, forgers traditionally use one of the following methods:

• engraving coins by hand;
• the spark erosion method;
• the plating method;
• one-to-one transfer engraving lathe;
• impact technique.

All those forgery methods are almost identical to genuine minting techniques. Therefore those kinds of counterfeits are tough to identify. However, this faking method is the most expensive and resourceful one; therefore, forgers use it only to produce the most costly and rare collectibles.

Altered (Doctored) coins

Unlike struck counterfeits, altered fakes are the easiest and cheapest to produce. They are common in today’s market. To create an altered coin, a forger usually buys a bunch of ordinary coins such as Lincoln Cents, US Silver Half Dollars, etc., and adds or removes specific detail to make a coin look rare and therefore more valuable.

The most common trick in this type of coin is to changing mint marks, which can boost a price of a reasonably common collectible over a $1000 mark. However, such manipulations are usually easy to notice after a more-or-less careful examination under an 8X magnification.

Cast Counterfeits

It is the most popular forgery method. Cast coins come out of a mold of an original coin. It is a simple, cheap, and straightforward procedure, which makes cast coins the most common fakes one can find on a numismatics market today.

Forgers often prefer cast counterfeits as this method does not destroy the “mother” coin. It means that after investing in a genuine coin once, a forger can make an unlimited amount of fake items. However, cast counterfeits are the easiest to detect. Therefore, to make any profit from the process, forgers have to alter and use cheaper metals and melts, which always leads to easily the detectible difference between genuine and fake coin.

Although the lion’s share of fake coins is pretty easy to detect, the technologies are constantly moving forward. Sometimes it is pretty hard even for a professional to tell the difference between a genuine item and a fairly-made fake.

To guarantee your protection from counterfeit coins, avoid shady dealers and untrustworthy online sales, and keep on educating yourself about the peculiarities and details of genuine collectibles.