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What should I know about copy coins and counterfeit coins to protect myself when purchasing gold coins?
A: If you are looking at purchasing gold bullion coins or rare coins, it is important to know that there are fake coins on the market intended to deceive investors out of their money. When you learn about fake coins, you will be better protected when looking to purchase coins as an investment.
It is good that you want to learn about copy coins and counterfeit coins to help protect yourself against gold coin fraud when making a purchase. While many people think copy coins are the same as counterfeit coins, they are not the same. Copy coins are different in that they are designed to look like a popular coin in order to replicate it. However, places that sell copy coins generally indicate that the coin is a copy.
Copy coins are not generally made of precious metals, but they can be. They are not designed to trick or deceive consumers, but consumers need to be aware that they are on the market and watch for such designations.
However, a counterfeit coin is made to do exactly that – deceive consumers and investors out of their money. Unfortunately, there are many people who pull off gold coin scams by producing and selling counterfeit coins.
Counterfeit coins are fake coins that look identical to the real coin, but the coin does not use the proper percentage of gold or precious metals. Instead, counterfeit coins are stamped and plated in precious metals. The weight and color may look different to someone who really knows their gold coins, but may trick a novice coin buyer.
If you have been a victim of coin fraud, call an experienced rare coin fraud attorney at the Voss Law Firm at 866-276-6179. We will provide you with a free initial consultation and a complimentary copy of our book Coin Fraud – Is Your Investment at Risk?