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6 Steps to Detect a Fake Silver Eagle

By March 25, 2008

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Fake 1906 Silver Eagle When I first saw the Silver Eagle in the image (right) on the Silver-Coins.org anti-fakes site, I laughed. A 1906 Silver Eagle? Everyone knows that the Gold and Silver Eagle Bullion Coins are very modern coins, made by the U.S. Mint to appeal to Americans who were buying their bullion coins abroad. Right?

As it turns out, that's wrong. Many people who have recently started buying bullion coins really don't know anything about how long they've been made, or by whom. When my best friend asked me, "So it's a 1906, what's wrong with that?" I realized I had to help get the word out: 1906 Silver Eagles are Chinese-made fakes that don't have any silver bullion in them at all! They're not even silver plated! They are being produced by counterfeiters in China who are preying on "rich Americans" who will "buy anything on eBay."

Unfortunately, the 1906 Silver Eagle is just one of many, many fakes entering the marketplace right now from China. Most of these fakes are easy to detect by looking carefully at the coin. But when you buy sight unseen from online sources, you lose this opportunity. This is an excellent reason why you shouldn't buy from strangers on eBay. Especially if you're investing in bullion, find yourself a reputable coin dealer. Only buy coins in major grading service holders. Above all, learn to look out for yourself by following these 6 Easy Steps to Detect Fake Silver Coins.

1906 Silver Eagle photo courtesy of Silver-Coins.org

Comments

April 23, 2008 at 9:31 pm
(1) Jim says:

I agree that fake silver and gold coins are getting out of hand.At a recent outdoor vendors sale- all coins that were for sale were fakes!Plenty of 1906 eagles there too. As well as fake panda proof sets-(Sealed) and slabbed coins that represented dollars and halfs. Even a kennedy 1964 that was terrible! I actually told one buyer that was in a frenzy to get some silver not to buy a 1906 silver eagle , but to no avail, he thought I was a kook I guess, wouldn’t listen. He paid $10 for something he thought was worth $16 and got nothing. That leads me to the slab coins though and you have suggested they are safe. Not anymore, and that should be emphasized. Even the grading services have admitted that the counterfeiters are matching coding from real coins so if you look it up it shows as the real thing.The markets are full of this stuff now and I won’t buy a slabbed coin at all now. If I can’t measure, size and weigh a coin, I won’t buy it, and if it’s just bullion I will test with a scratch and acid. The ring on some of the new fakes is excellent and quality is increasing daily. This is a tough market now with all the fakes and if fakes weren’t taking up the slack on the buying pressure then the price of guaranteed gold and silver would be much higher.
Federal agents are aware of one operator that has been selling the new Chinese counterfeits in our city, and worldwide via the net and have not arrested them due to their informant having info on illegal gun sales as well. The feds are missing the boat! This rush of fake precious metals is dooming our economy and the stability of people’s retirements.

July 6, 2009 at 7:38 pm
(2) joe says:

American Eagles were made from 1986-present.
Why would you need to even look at anything else on the coin than the date to tell if it is fake.
This is like saying a 1950 silver dollar. It’s like saying a 1965 Walking liberty half dollar.
American Eagles weren’t even introduced to mankind until, at earliest, 1985 or 1986.

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