Grading This is a new one for me – a FAKE COPY failed to grab pics: The Difference Between $10 and $1,000

Condition is Everything

When examining a coin counterstamped with “COPY,” the first thing a professional grader looks at is the underlying condition of the genuine coin itself. Even with the counterstamp, the fundamental grading principles still apply.

Wear Patterns on Large Cents

For late-date large cents, wear typically begins at the highest points of the design. On the obverse, you’ll see the first signs of circulation on Liberty’s hair curls, particularly around the forehead and behind the ear. The cheek and jawline are also early indicators of wear. On the reverse, the wreath leaves and the central areas of the denomination show wear first.

In the case of a corroded and ugly large cent mentioned in the discussion, the wear patterns would be obscured by environmental damage. However, a skilled grader can still identify the original strike quality by examining protected areas like between the letters and under the bust.

Luster and Surface Preservation

Luster is one of the most important factors in determining grade. For copper large cents, original mint luster appears as a satin-like sheen across the fields and devices. When a coin has been corroded, this luster is typically destroyed, resulting in a dull, rough surface texture.

The counterstamp itself creates additional surface disruption. A professional grader would examine whether the “COPY” stamp was applied with enough force to create metal flow or if it simply compressed the surface. The edges of the counterstamp should be examined for signs of metal displacement, which would indicate a stronger strike.

Strike Quality Assessment

Late-date large cents often suffered from weak strikes due to worn dies. Key areas to examine include the definition of Liberty’s hair strands, the clarity of the date, and the boldness of the wreath leaves on the reverse. A weak strike can sometimes be confused with wear, so it’s crucial to distinguish between the two.

The counterstamp location is also significant. If it’s placed over a weakly struck area, it might actually improve the visual appearance by creating contrast. However, if it’s over a well-struck area, it could obscure important design details that contribute to the coin’s grade.

Eye Appeal Considerations

Eye appeal encompasses several factors: color, surface quality, strike, and overall attractiveness. For a corroded large cent, the color would likely be dark brown to black, possibly with verdigris spots. The counterstamp adds an additional element that affects eye appeal.

A professional grader would consider whether the “COPY” counterstamp enhances or detracts from the coin’s appearance. In some cases, collectors might find the irony of a genuine coin marked “COPY” to be appealing, potentially increasing its desirability despite the alteration.

PCGS/NGC Standards Application

When submitting such a coin to a third-party grading service, the counterstamp would typically result in a “Genuine” or “Authentic” designation rather than a numerical grade. The services would note the counterstamp as an alteration.

However, the underlying coin’s condition would still be assessed. A corroded large cent might grade as Poor-1 or Fair-2 based on its wear and damage, even though it would receive a “Genuine” holder due to the counterstamp.

Authentication Challenges

The discussion raises interesting questions about authentication. When examining a coin with a “COPY” counterstamp, several scenarios are possible:

• The coin is genuinely a copy that was later marked
• The coin is genuine but was counterstamped to appear as a copy
• The coin is a genuine copy of a rare variety, marked to avoid legal issues

A professional grader would need to examine the coin’s metal composition, weight, diameter, and design details to determine its authenticity. For large cents, this would include checking for the correct copper content and examining the die characteristics.

Metal Composition Analysis

Genuine large cents were struck in pure copper. A grader would use a non-destructive method like specific gravity testing or X-ray fluorescence to verify the metal content. Counterfeit copies might use different alloys or copper-plated base metals.

The corrosion pattern can also provide clues. Natural corrosion on copper produces a specific patina that differs from artificially aged surfaces. A grader would examine whether the corrosion appears consistent with the coin’s age and storage conditions.

Market Value Implications

The discussion mentions a coin selling for $30 that might normally be worth $3. This price differential highlights the complex relationship between condition, rarity, and collector interest.

For a corroded large cent with a “COPY” counterstamp, the value would depend on several factors:

• The underlying grade of the genuine coin
• The clarity and placement of the counterstamp
• The current market demand for altered coins
• The perceived irony or novelty value

A coin in Poor condition might sell for $5-10 as a filler, while the same coin with an interesting counterstamp could sell for $20-50 to collectors who appreciate altered coins.

Legal and Ethical Considerations

The legality of counterstamping coins is an important consideration. While it’s generally legal to counterstamp a coin you own, doing so with intent to defraud is illegal. The “COPY” designation is typically used to indicate that a coin is not an original, which is legal.

However, counterstamping a genuine coin with “COPY” creates an interesting ethical question. Is it misleading to make a genuine coin appear to be a copy? This is particularly relevant when the altered coin sells for more than its unaltered counterpart.

Grading Process for Altered Coins

When grading a coin with a counterstamp, a professional follows these steps:

1. Verify authenticity of the underlying coin
2. Assess the condition of the genuine portions
3. Evaluate the quality and placement of the counterstamp
4. Determine if the alteration enhances or detracts from value
5. Assign appropriate designations and notes

For the large cent example, the grader would first confirm it’s a genuine large cent, then assess its wear and damage, evaluate how the “COPY” stamp affects the overall appearance, and finally determine the appropriate holder and description for the grading service.

Documentation and Photography

Proper documentation is crucial when dealing with altered coins. High-resolution photographs from multiple angles, including close-ups of the counterstamp and any areas of interest, should be taken. These images should show:

• The overall appearance of the coin
• The counterstamp details and placement
• Any areas of corrosion or damage
• Design elements that help verify authenticity

The discussion mentions the importance of screenshots and visual documentation, which is particularly relevant for online sales where buyers cannot physically examine the coin.

Conclusion

Grading a coin with a “COPY” counterstamp requires a nuanced approach that considers both the underlying coin’s condition and the impact of the alteration. While the counterstamp might prevent numerical grading, the fundamental principles of wear analysis, luster assessment, and strike quality evaluation still apply.

For collectors and investors, understanding these grading principles is essential for making informed decisions. A coin that appears to be a simple corroded large cent might have additional value due to an interesting counterstamp, while a seemingly valuable altered coin might be worth less than its unaltered counterpart.

The irony of a genuine coin marked “COPY” selling for more than its unaltered version highlights the complex nature of numismatic value. As with all collectibles, condition, rarity, and collector interest ultimately determine a coin’s worth, sometimes in unexpected ways.

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