How to Spot a Fake Coin

We recently posted a question on our Facebook page asking people if they have ended up with a fake coin and if so, how did they spot that it was a fake. We received more than 50 comments with stories about how people ended up with a fake coin and how they resolved this issue. Thankfully most folks were able to connect with the coin shop or dealer and got a refund. However, a few were not that lucky. So how do you avoid ending up with a fake coin.

A real British pound coin on top of a fake. Th...

A real British pound coin on top of a fake. This coin is often counterfeited (Photo credit: Wikipedia)

Unless you are an expert numismatist, our No. 1 advice for you is that you only buy from a reputable dealer. Before you choose a retailer, look for a company that is open and transparent when it comes to pricing and provides easy access to a salesperson or to customer service, look for testimonials on the website, and in addition look for a company that stands behind every product it sells. By purchasing precious metals from a company like APMEX, you can rest assured that you will not be saddled with a fake product. We do not purchase off quality products and sell them. We purchase only the highest quality precious metals available. We have direct relationships with mints around the world. We have an expert team that inspects each and every piece and decides whether it meets our strict buying standards. If it does not, it is either returned or melted. In addition, APMEX stands behind every product it sells with a satisfaction guarantee.

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