If you are a coin collector then you will no doubt have had some fears when it comes to investing money on antique coins, because there are many fakes out there. A good friend of mine works for the Sadigh Gallery and they are often contacted from buyers who have made the mistake of picking up a coin for quiet a price, and then discovered that they are in fact fake.
This is big business and those who are able to create fraudulent pieces such as coins are able to make a lot of money from the black market. Sadly however it is collectors who often bear the brunt of this, and here is exactly why you should take such care. There are some things which you can look out for when you are buying coins however, which may give you a better idea as to whether or not the pieces are real, let’s take a look.
Knowing What You Are Looking For
Before you even open up your wallet to buy a coin it is absolutely critical that you have a great understanding of what you are looking for. This means that you know the details of the coin, the date with will be printed and the information which you can expect to find.
Condition of the Coin
Ancient, long lost coins are not exactly sold in glitzy and shimmering condition, and that is why you have to ensure that you know what condition the coin should be in. One of the biggest challenges for those individuals who reproduce coins is that they create the coin which looks as old as it is supposed to be. Over time certain metals will react in different ways and you have to ensure that you have a firm understanding of exactly what kind of condition the coin should be in.
Because of the fact that these modern coins are used with different materials than the original, it is critical that you have a focus on weight when you shop for new coins. This again is often where buyers get caught out, because they have no idea what the weight of the coin should be.
Cost of The Coin
The cost which you are paying is also critical in working out whether or not it is real or fake. You have to be sure that you trust your gut here, if the price sounds suspicious then it probably is, so stay away. If the price of the coin is pretty low, under $50 for example, then it may just be worth a go, and if the coin turns out to be a fake then so be it. If however you are buying a seriously expensive coin then you should always make sure that you have an expert with you to clarify that it is real, before you end up parting with any cash.
Be careful out there, fake coins are everywhere, and you could get caught out quite easily.