Buyer Beware of Counterfeit Coins

I learn many things from the experience of others, and here’s something I will now be aware of, counterfeit coins sold as real United States dollars.

My colleague, that has asked to remain anonymous, was shopping at a store on the corner of Garfield and Garvey Ave. in Monterey Park, and spotted what appeared to be silver U.S. dollars in plastic holders, for the amazingly low price of $5.00 per coin. Thinking he had found a real bargain, he purchased two coins, and rushed home to run a search of the value of each coin. He was stunned to find the coin, that was dated 1796, had a possible value of over $1,000.

Assuming he had hit upon a gold mine, he drove over to a coin dealer in Alhambra, to have the coins appraised, but his mouth dropped when the coin dealer told him they were counterfeits, and worthless. To prove his point, the coin dealer placed a magnet next to the coins and the coins were attracted to the magnet.

If you look at the coins closely, you can see they have a slight worn appearance, to further the scam and trick the buyer. My friend asked if I would spread the word so others will not be taken as he was.

If something appears to be too good to be true, it most likely is.