Fed Up with Fake Coins: How Scammers Are Making Me Sick in the Hobby

I’ve collected coins for more than twenty years, but lately, the flood of fake mint errors online has me both furious and worn out. Whether it’s Facebook Marketplace or eBay, it seems like every other listing is garbage being passed off as a rare error coin – and it makes me sick. Today, I want to share what I’ve learned about this scam epidemic, along with some practical tips to spot fakes and protect your love for numismatics without going crazy.

The Explosion of Fake Mint Errors

As a long-time collector, I’ve watched fake coin scams explode, especially since platforms make it so easy for scammers to post ridiculous listings. Take the “IN COD WE TRUST” errors I’ve seen – pure nonsense designed to trick new collectors. Because it costs nothing to list, the market gets flooded with overpriced junk. Just last week, I saw a nickel supposedly struck on a cent planchet listed for thousands, when the real ones in my collection are only worth about $300. It’s a plague fueled by greed and ignorance, turning our hobby into a minefield.

How to Spot and Avoid Scams

After years in the hobby, I’ve learned you can’t trust every shiny coin online – treat each one with suspicion until proven real. Here’s what works for me:

• Read descriptions carefully: Watch out for red flags like gibberish or obvious AI-generated fluff (like calling something a “unique addition to any collection”). If it doesn’t sound right, it probably isn’t.
• Check errors against reliable sources: Genuine mint errors are rare and well-documented. Use trusted guides like the Red Book or PCGS to verify. That “IN COD WE TRUST” error? It’s made up – real errors have clear, verifiable details.
• Be realistic about prices: Authentic errors have fair prices based on rarity. If a listing has a sky-high tag and shouts “rare!”, it’s probably a scam. I always check auction records or dealer prices for comparison.

Practical Steps to Protect Your Collection

To keep the joy in collecting, I follow these steps:

• Get coins professionally graded: For any coin that might be an error, I send it to NGC or PCGS. Their grading confirms authenticity and adds value – and it’s saved me from expensive mistakes more than once.
• Buy from reputable dealers: Stick with trusted sellers at coin shows or certified online shops. I avoid sketchy platforms like Craigslist where scams are everywhere.
• Keep learning: Spend time with numismatic books or YouTube channels run by real experts (not the hype artists). Once you know the basics, like how common errors happen, spotting fakes becomes second nature.

The Bigger Picture: Saving Our Hobby

This flood of fakes isn’t just annoying – it’s eating away at trust and scaring off new collectors. I worry that young enthusiasts might give up on coin collecting, thinking it’s all a scam. But I’m not giving up, and you shouldn’t either. By staying alert and sharing what we know, we can push back. Remember, real coin collecting is about history and passion, not get-rich-quick schemes. Let’s keep our community strong and call out the crooks when we see them.

Even with all the frustration, I’m still here. With a healthy dose of skepticism and good practices, we can still find joy in the hunt. Stay sharp, fellow collectors – our hobby is worth fighting for.