April 12, 2024
4 REALE DATED 1754 OBVERSE HAS BEEN CLEANED
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THIS IS AN INHERITED COIN I HAVE HAD FOR ABOUT FIVE YEARS. EVEN THOUGH THIS COIN HAS BEEN TESTED BY A JEWELER AND IS EXACTLY 91.7% SILVER, I AM SELLING IT AS IF IT WERE NOT GENUINE. THE REASON IS I RECENTLY READ ABOUT SOME CONTEMPORARY COUNTERFEIT TURN OF THE CENTURY MORGAN DOLLARS PCGS DISCOVERED DURING THEIR GRADING PROCESS. THESE COUNTERFEITS WERE SO WELL DONE THAT PCGS ASSIGNED A GRADE TO 95 OF THEM BEFORE REALIZING THERE WAS A PROBLEM. THE Y EXPLAINED IT THIS WAY: Who would attempt such a feat? With the price of silver on the open market at prices much cheaper than the official price (25-50 cents for much of the first half of the twentieth century versus the official United States rate of $1.29 per ounce), the temptation to produce silver dollars with the "full" amount of silver and pocket the difference was irresistible to someone. In fact, one of the suspect coins was sent for elemental testing and it came back 94% silver and about 6% copper! It contains even more silver than a genuine United States silver dollar. However, even with extra silver and the work needed to create the dies and planchets, the profit from these coins would have been tremendous. Certainly, this was a temptation too hard to resist. SILVER PRICES WERE IN A SIMILAR SITUATION DURING THE LATTER HALF OF THE 1700'S AS THE CHART BELOW SHOWS. FROM 1750 TO
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