# More counterfeits to look out for



## jimdoc (Aug 14, 2012)

Fake Engelhard Prospectors Can Cause Real Problems

http://numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=25621

"The fakes had the proper diameter and weigh only about 0.5 grams light. They contained about 60 percent copper, 39 percent zinc and a smidgen of nickel, which was then silver-plated." 

Jim


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## element47.5 (Aug 14, 2012)

Boy that's....troubling. Very good to know. 

Englehard "Prospectors" are problematical in my opinion, because in general, they will have very high premiums. *Higher than US Silver Eagles.* I have hundreds of silver rounds, I think I have only 1, perhaps 2 qty Prospectors. Only years 1, 2 and part of year 3 (= 1982, 1983, 1/2 of 1984) will have the "E" on the reverse; after that Englehard changed to an Eagle design. 

At APMEX, a very reliable dealer, not the cheapest, as one data point, Prospectors are at least $3.49 over spot, while Eagles are $2.59 or $2.79 over spot in comparable quantities. So if you're willing pay nearly $1 more over spot for an Englehard (a generic round, when you boil it down) than a Silver Eagle, I'm not sure I get the wisdom behind that. It's unquestionably true that Prospectors are pretty rare...I guess anyone is free to ask whatever price when selling something they think the market will bear.


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## jimdoc (Aug 14, 2012)

I have 1 Engelhard Prospector, and it doesn't really look right after reading this story.
It weighs 31.3 grams, and I don't know if I will cut into it to check it or not, maybe some day. 

The monster box part of the story is scary, for those with money.

Jim


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## philddreamer (Aug 14, 2012)

I have one left; its a 1984 and it weighs 31.3g, too. :roll:


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## element47.5 (Aug 14, 2012)

Yes, you're quite right about the monster box angle. I have a pal who is itching to buy one, I told him "Now!" when spot silver hit $26.75 about 10 days ago. Of course he didn't act. 

(Just on the completely random opinion-based front, I am not especially bullish on silver or gold right here.)

The "sealed" aspect of a MB is an important consideration. If sealed, you really never get to see your coins. If sealed, one should be able to quickly transact on the whole unbroken box. If unsealed, a buyer should, by all rights, want to examine the contents. Which would take a long time, to examine all those rolls of Eagles. But if now if the intact seal is only partially indicative of pedigree, then "sealed" may end up being a negative. 

It's great living in a world of fraud, isn't it? I guess it's 1000x better than being victimized by it.


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