I have always said that if something becomes expensive there will be someone to make a fake or reproduction of it. Look at the reproductions of Galle and Daum Nancy glass or Roseville pottery. I have been offered fake Rolex watches so many times I can't count them, but this is something new.
The coins in your pocket you would think could never be faked, right? No, wrong. Today there are fake gold coins coming out of China that are even fooling some professionals. It is understandable with the price of gold over one thousand dollars an ounce that the gold coins would be faked, but they aren't stopping there. Even the rare pennies, nickels and dimes are being reproduced. So be on guard if you are offered a rare coin with limited mintage and take plenty of time before purchasing it.
Be sure to buy yourself a good coin guide that describes the rarities so that you can compare the coins that you are offered to the description in the guide. The one clue that might tip you off to the fakes is that some but not all the fakes have an orange peel texture to them. This should be a dead give away and you should run as fast as you can from the seller.
Fakes and reproductions are produced to play on the greed of the buyer, so that old saying “If it is too good to be true most of the time it is” comes to my mind in this situation. When I was young, coin collecting gave me many hours of pleasure, but now that only graded coins and extreme rarities bring any money besides the actual value of the metal that they are composed of, there are fewer and fewer collectors. This has caused the unscrupulous dealers to prey on the uneducated. So be forewarned. It isn't a nice world out there and people will take advantage of a person's lack of knowledge.
I am sure that as this information becomes more widely distributed, people will begin to fear making a mistake so the values of coins will go down just like they did with the other collectibles as they were reproduced. My advice to you, however, is that if you take precautions not to be fooled, this might be a great time to start looking for the rarities in the coin collecting field and they may just prove to be real treasures to you
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