It was just a matter time.
Independent Coin Graders, Tampa, Florida has identified two counterfeit Proof 2020-W American Eagles, End of World War II 75th Anniversary silver dollars.
F. Michael “Skip”, an ICG numismatist, told CoinWorld June 16 the story that the collector who submitted two counterfeits had purchased them via a Facebook posting.
Fazzari claims that the fakes are fully proof surfaces and have deep cameo devices. Fazzari says that fakes will easily fool collectors unfamiliar with the series. The coins were presented to the people as soon as they were discovered.
“But, a side by side comparison with a real specimen shows that the fakes have incorrect edge reedings and design details.
“One defect we found on the counterfeit was the existence of tiny holes at feather tips of the eagle.” You will also notice the wider, more prominent initials of the designer.
The motto on the reverse, which reads “IN GOD E TRUUST”, is another clue.
He said, “Collectors with suspicious V75 Silver Eagles can have them tested at a major grading agency.”
Fazzari stated that the counterfeits were likely to be silver-plated over base metal. This fake has a specific gravity that falls within the range of zinc. The fake is slightly heavier than the 31.103g or 1 troy ounce of a real issue.
The U.S. Mint offered the genuine Proof 2020-W American Eagle and End of World War II 1975th Anniversary silver dollars at $83 each on November 8, 2020.
The entire issue was quickly sold out, with a total release of 75,000 coins and a limit on household orders of one coin.
Original examples have been sold on the secondary marketplace for hundreds of dollars. Examples graded and encapsulated using third-party grading companies sell for multiples of the original issue price. This gives counterfeiters an incentive to make forgeries.
An example in original U.S. Mint packaging was sold on eBay for $330.
The prices achieved through completed sales of authentic V75 Privilege marked Proof American Eagle Silver Coins include $695.95 in an eBay sale for an Early Releases coin graded Proof70 Ultra Cameo from Numismatic Guaranty Corporation; $899 in a Juni 12 sale for NGC Proof70 Ultra Cameo coins; and $699.99 for a First Strike coin grading Proof70 Deep Cameo by Professional Coin Grading Service in an eBay sale on June 11.