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Pocketmags Digital Magazines
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Pocketmags Digital Magazines

HOW YOU CAN COMBAT COUNTERFEITING

Grading Services are Your First Line of Defense

The hobby of numismatics is at a crossroads. The increasing number of counterfeits in the marketplace calls for strong responses, the first of which is the system of third-party grading services. The major coin grading services first thoroughly and meticulously authenticate and confirm a coin’s genuineness before grading it. Collectors need to check the authenticity of suspect coins so that questions will not arise at some future date when the pieces are being sold, either by the owner or in an estate.

Counterfeiting has often been called the “second oldest profession with good reason. Coins were created in the Asia Minor nation of Lydia (located in present-day Turkey) about 600 B.C., and it was not long before criminal elements in that part of the world produced counterfeit coins.

Modern-day collectors, unless they specialize in ancient coins, have little concern for these early counterfeits, but copies made since 1800 are another matter entirely. During the 19th century, there were several counterfeiters producing high-quality copies of rare Greek and Roman coins, especially the latter. The dealers who specialize in ancients, however, are generally able to distinguish the good from the bad.

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About COINage

Beckett CoinAge September 2019, Grading System : A Look Back, Untold Stories of Grading Services, And More....