Why I’m Sick of Fake Coin Scams and How to Protect Your Collection

My Growing Frrustration with the Coin Market

After decades of collecting, I’ve reached my breaking point with the tidal wave of junk coins flooding the market. It really hit home when I started seeing Facebook Marketplace listings pushing obvious fakes as “rare mint errors.” That ridiculous “IN COD WE TRUST” coin? Seeing stuff like that peddled to unsuspecting newcomers makes my blood boil. Instead of screaming into the void though, I’m channeling that frustration into helping fellow collectors spot these scams.

The Epidemic of Fake Mint Errors

Counterfeit error coins have exploded like wildfire recently. Scammers know authentic errors – like a nickel struck on a cent planchet – can be incredibly valuable with proper certification. But what I see on eBay are coins with clear post-mint damage being passed off as errors at insane prices. This isn’t ignorance; it’s predatory behavior targeting inexperienced collectors. With zero accountability on platforms like Facebook or Craigslist, these cons spread like a virus through our hobby.

Spotting the Fakes: Real Errors vs. Scams

Over the years, I’ve trained my eye to spot the difference between real mint mistakes and manufactured fakes. True errors happen during striking – think misaligned dies or clipped planchets – and come with professional authentication. Fakes usually show tool marks or unnatural alterations. Here’s my personal checklist:

• Scrutinize the details: Look for oddities in lettering or design – that “IN COD” nonsense screams fake.
• Study the surfaces: Genuine errors have organic imperfections; fakes often show file marks, especially around high points like a Kennedy half dollar’s cheekbone.
• Demand grading: Never buy ungraded “errors.” PCGS or NGC certification is non-negotiable for me.
• Know the market: If a common coin suddenly has “moon money” value due to an “error,” walk away immediately.

Why These Scams Are Winning

What makes this especially galling? Scammers operate risk-free on platforms that prioritize listings over legitimacy. The media hype around error coins creates demand while leaving collectors unprepared. Now I’m seeing AI-generated descriptions using flowery language to dress up fakes – it’s only getting worse. While shady dealers have always existed, this feels like an infestation that could drive new collectors away from our beloved hobby.

Protecting Your Collection

Here’s how I safeguard my collection without losing sleep:

• Buy from trusted sources: Stick with established dealers who’ve built reputations over years.
• Learn constantly: Study genuine errors through reliable books or collector forums – avoid YouTube channels pushing “get rich quick” schemes.
• Grade everything: For any potential error, consider grading fees part of the purchase price.
• Listen to your instincts: If a listing feels off or the description reads like robot poetry, trust that gut feeling.

It’s tiring fighting these fakes, but staying sharp preserves what we love most – the thrill of authentic discoveries. Focus on the real treasures, and don’t let the scammers steal your joy.