If you are just starting out, don’t be fooled by fake gold and silver coins. What do we mean by this? We are referring to coins that have a gold or silver color but no precious metal in their content. Since 1965 all US dimes and quarters produced by the US Mint have a silver color – but they have no silver content. They are made of a cheap alloy – that were it meted down – would be worth a few cents at best. Likewise, The modern Sacagawea dollar coin has a golden color but contains no gold.
Similarly, Canadian dimes, quarters and halves, which used to be made of 80% silver, no longer have silver content. They also are made of a cheap alloy. Yet they still have a silver coloration.
Authentic US Silver Coins
- Just because a coin has a silver color doesn’t mean it’s made of silver. Fortunately, all US dimes, quarters, half dollars and dollars coins mined prior to 1965 for general circulation were minted with silver content. Most of these were made from a 90% silver – 10% copper alloy. The copper was added to give the coins additional durability.
Authentic US Gold Coins
- Accordingly, just because a coin has a golden color doesn’t mean it has gold content. No US coin minted for general circulation after the year 1933 has any gold content. Unless it’s a bullion coin such as an American Gold Eagle, any gold-colored US minted coin with a date of 1934 and higher is not made of gold.
Fake Gold and Silver News from NBC
Recently, NBC published an article highlighting the concern about fake gold and silver coins that are flooding the marketplace. According the that piece, “There’s a reliable supply of bogus coins coming from China into the U.S., and it has been getting more authentic-looking over the years.” The article goes on to say, “Most of the counterfeit coins are made from a base metal, like tungsten, that is plated with a little gold. This way it will pass the acid test that indicates gold. If it is well-made, the fake will weigh the same as the genuine piece, making it even harder to spot”.
Buy from Reputable Dealers
If you are new to collecting or investing in gold and silver coins, welcome to this site. As you navigate around this site you’ll find a wealth of educational information to help you. You certainly don’t want to buy fake gold or silver coins thinking you have items with precious metal content.
Here’s a useful and important tip: If you are just starting out make sure you buy from reputable dealers. Our preferred gold and silver coin broker, Golden Eagle Coins, has been in business for over three decades and will serve you well.
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