When buying gold coins it is vitally important that you ensure you are not buying fake gold coins.
Fakes gold coins do exist, just as they do with silver and even other coins such as ancient or rare coins.
How can you tell the difference between a fake gold coin and a genuine one?
Sometimes the difference is obvious, especially when you have a fake and a genuine coin side by side.
Some of the indications of fake coins are quality of the coin, it can look dull and not shiny and sometimes look *too* shiny. There are often imperfections and the coin looks like it has been cast not pressed. (which it usually has been).
Also the sound. When dropped or hit with another coin does it have that ring a real coin has.
You might recall the only traditional method of biting the coin, often favored in movies about pirates. Well biting the coin can tell the softness of the coin and fake coins are usually much softer than the real McCoy. Biting the coin is not recommended as it may damage it not to mention your teeth!
Probably the best way to check if a coin is fake is to take it to a reputable dealer and get them to check. They will be able to tell you.
And what if you are thinking of buying a coin and not sure if it is a fake or not.
Well firstly don’t buy unless the dealer offers you a guarantee the coin is genuine. If it is rare it should come with a certificate of authenticity.
There are some famous fakes and some people even collect fakes due possibly to the notoriety attached to them.
Some of the sovereign dates which appear in high quality fakes include 1822, 1827, 1832, 1887, 1916-C (Ottawa Mint, Canada), and 1917. These are all London mint coins (no mintmark), except where specified. Most of these dates are scarce or rare. The 1917 London, for example, catalogues at £2750 in EF condition, and the 1916-C at £7000.
It has also been pointed out that a blind person is more able to detect a fake coin from the real than a sighted person. Possibly due to the fact that a blind person uses his other senses more.
Fake Gold Coins has a lot of information that is useful to know in this field.
Fake gold coins, however, will not be a problem for the collector who uses due diligence when buying gold coins.