Wednesday November 11, 2009
The U.S. Mint has issued a Consumer Advisory warning citizens about the counterfeit U.S. coins that have been flooding into the United States from China. Although counterfeit coins are as old a phenomena as coins themselves, dating back to antiquity, the Chinese-made counterfeits represent an unusually dangerous threat because of the high technology being employed to produce many of them.
The U.S. Mint Advisory characterizes the coins as "imitations" and includes a photograph of a Proof Morgan Dollar. The Advisory states that the imitation coins bear dates prior to 1950. You can read the entire counterfeit coin advisory on the U.S. Mint's Web site.
I have been warning coin collectors about these Chinese-made counterfeit coins since early 2008, when I obtained photographs and the operational details of a working coin counterfeiting ring based in China. The fake coins are primarily entering the hobby marketplace through online auction venues such as eBay.
Learn More About Counterfeit Coins
Sunday October 4, 2009
The U.S. Mint has begun selling one of its most popular annual items - the Uncirculated Mint Set. This attractive set comes in two separate folders, one for the Philadelphia-struck coins, and one for the coins struck at Denver. This year's set has an all-time high number of coins - 36! The 18 coins from each Mint are as follows:
- 4 Presidential Dollars
- 1 Native American (Sacagawea) Dollar
- 1 Half Dollar
- 6 Territorial and D.C. Quarters
- 1 Dime
- 1 Nickel
- 4 Cents
The Cents are struck in the original 95% copper alloy that the Lincoln Cent was struck from in 1909 when it was first issued. They bear the 4 special designs commemorating Lincoln's life which are being issued this year.
The cost of this year's Uncirculated Mint Set is $27.95, plus the U.S. Mint charges an additional $4.95 per order for shipping and handling. You can order the 2009 Uncirculated Mint Sets from the U.S. Mint Web site.
Wednesday September 30, 2009
Every once in a while, I come across a coin related site that is just so well-done and fascinating that I am eager to share it with everyone I talk to. SmallDollars.com is one of those sites! Its entire focus is on the smaller U.S. One Dollar coins of the past 30 years, specifically the Susan B. Anthony Dollar, the Sacagawea Dollar, and the ever popularPresidential Dollars. Coverage on the site includes such fascinating topics as:
This is just the tip of the iceberg! If small-module U.S. dollar coins interest you, you could spend hours at this fascinating site, and I bet it it'll be a great one to watch for the inside scoop on the Presidential Dollars, too!
United States Mint Image
Wednesday September 16, 2009
Although counterfeit coins represent a very, very minuscule portion of the overall number of coins sold, the chances of buying a fake coin are much higher when you buy online from sources such as eBay. The risk is especially high if you buy from sellers in the Far East, such as China and Hong Kong. But you can also end up with a fake coin from your local coin show, if the dealer you get the coin from buys from unreliable sources.
How do you protect yourself? Fortunately, the tools and techniques to rule out the vast majority of counterfeit coins are both inexpensive and easy to use. The toolkit starts with a simple household magnet! Learn why, and what the other basic anti-counterfeit coin tools are, in my easy-to-follow tutorial on detecting fake coins using my counterfeit coin detection kit.
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