At SAFE® Collecting Supplies, we provide collectors everywhere with the highest quality coin storage cases to protect their priceless treasures from wear and tear, as well as theft. But there’s another type of safety you should seek when building your collection.
We’re talking about counterfeit coins and the people who sell them.
A recent news story caught our attention. In Camden, NJ, a federal judge sentenced a Moorestown man to 10 ½ years in prison after he was found guilty of importing and selling fake silver and gold coins and ingots. All told, the items he passed off as genuine to unsuspecting buyers would have been worth $46 million if they were the real McCoy.
Obviously, no collector wants to find him or herself on the wrong end of such a deal. We invest a lot of money, time, and energy into building our coin collections, and a big part of the fun is discovering rare, authentic pieces that we can pass down to future generations. It can be easy to get caught up in the thrill of the hunt and forget that there are people out there trying to scam collectors just to make a buck.
Here’s a little reminder of the key things you should be considering when you purchase coins.
Do Your Homework — Thoroughly research whatever coins you’re looking at buying, paying attention to their unique details, such as distinctive mint markings.
Consider the Source — Just as you would research the coins, also research the seller. What’s their reputation? Are they affiliated with top numismatic organizations? If you’re looking at coins online, be especially careful about where those coins are coming from. Many counterfeit coins have been traced back to sellers in China.
Size Matters — Weighing and measuring coins will tell you a lot about their authenticity. Your research should give you a clear idea of what to expect from a given coin in terms of diameter, weight, and thickness. If you haven’t already invested in a scale or coin caliper, check out our online inventory.
Use Common Sense — Whether or not you’re an experienced coin collector, you have instincts. Use them! If something doesn’t seem right, dig a little deeper — or don’t make the deal.
Once you’ve put in all the legwork to make sure the coins you’re adding to your collection are genuine, and you’ve spent the money to make them yours, you want to take good care of them. That’s where we come in!
We offer all types of protective coin cases for storing, transporting, and displaying your treasures. Our cases are highly durable and can be customized to your specifications. Browse through our inventory today, and don’t hesitate to reach out if you have questions or concerns!