There is a growing number of people that want to go into
coin collecting for the purpose of serious business or as a fun hobby.
Because of this, there are also a lot of coin dealers who are ready to buy or
sell coins for a price. Most of these dealers are trustworthy and
honest. However, there are also others who sell you counterfeits instead
of the real thing. So to protect your investments, it is best if you
acquire relevant information about a coin first, and use this to identify a fake
from a real one.
If you plan to buy a silver trade dollar, you should be
informed of the facts and figures listed below. This includes the
specifications, date of mintage, design, and others.
What is the Silver trade dollar?
The Trade Dollar is a silver coin that was issued by the
United States solely for the purpose of Trade with Asian countries like China,
Korea, and Japan. It was minted on the years 1873 to 1885
What are its specifications?
The Silver trade dollar has the value of one U.S.
dollar. It weights 27.2 grams and has a diameter of 38.1 mm, with a
thickness of 3.1 mm. Its edge is reeded. The Trade Dollar is
composed of 90% silver and 10% copper.
Its obverse features Lady Liberty seated and holding an
olive branch to the western direction, while the reverse features a bald eagle
holding arrows and an olive branch in its talons. The coin specifications
(420 grains, .900 fine) is minted below. Both designs were made by William
Barber on the year 1873.
How do I tell if it’s fake?
If you have the coin with you, then it is easier to tell
if it’s fake. You can touch and weight it, and subject it to simple
tests.
· Weight
First, although the Silver trade dollar that you have
might look real, you can always test its authenticity by checking the
weight. Remember, a real trade dollar will weigh 27.2 grams, so anything
relatively lower or higher than that is fake.
· Appearance
Usually, fake coins are made up of copper and are just
coated with a silver finish. If your silver trade dollar has a slight
discoloration or fading due to the showing through of the material underneath
the silver coating, then it is a fake. This discoloration usually has a
copper or brownish sheen.
· Test it
You can also perform the magnetic test. If you put
a magnet near the coin and the coin is attracted to it, then it is a fake.
Remember, the coin is 90% silver. It is not steel.
Overall, spotting a fake coin becomes much easier if you
are aware of some basic and relevant knowledge about coins in general, and the
specific coin you want. That is why it is recommended to read and do some
research about the coin that you want first so you can judge for yourself,
rather buying one based solely on the sellers’ guarantee of
authenticity.
