Counterfeit Detection – The 1895 Morgan Dollar

The 1895 Morgan Dollar is often referred to as the “King of Morgan Dollars” due to its rarity, desirability, and historical significance. However, its immense value and prestige have made it one of the most frequently counterfeited coins in numismatics. For collectors and dealers, understanding how to detect counterfeit 1895 Morgan Dollars is essential to avoid falling victim to fakes in the marketplace. This article explores the history of the coin, the common counterfeit types, and the tools and techniques used to spot imitations.

The Rarity of the 1895 Morgan Dollar

The 1895 Morgan Dollar has a unique status among U.S. coinage. While 12,000 coins were officially minted in Philadelphia in 1895, no circulation-strike examples have ever been found. Only proof coins, with a mintage of 880, have been confirmed to exist, making it one of the rarest Morgan Dollars. Most experts believe that the circulation-strike coins were likely melted down after the passage of the 1918 Pittman Act, which led to the destruction of millions of silver dollars.

Due to this rarity, genuine 1895 Morgan Dollars command significant premiums. High-grade examples, especially those graded PR-65 or higher by PCGS or NGC, can fetch upwards of $50,000 to $100,000 at auction. This high value has made the coin a prime target for counterfeiters.

Common Counterfeit Types

Counterfeit 1895 Morgan Dollars appear in several forms:

1. Altered Dates: One of the most common counterfeit methods involves altering the date of a genuine Morgan Dollar, such as changing an 1885 or 1893 to read 1895. These alterations are often detectable with magnification, as the digits may appear uneven or have tool marks.
2. Cast Copies: Some counterfeits are created by casting molds of genuine coins. These often have soft details, pitted surfaces, and lack the sharp edges of an authentic coin.
3. Chinese Counterfeits: In recent decades, high-quality counterfeit Morgan Dollars, including 1895 examples, have been mass-produced in China. These fakes may use incorrect silver alloys or have slightly off dimensions and weights.
4. Added Mintmarks: Counterfeiters sometimes add mintmarks (e.g., an “O” for New Orleans) to other Morgan Dollars to create a fake “prooflike” or “special mint strike” coin.

How to Spot a Fake 1895 Morgan Dollar

Detecting counterfeit 1895 Morgan Dollars requires both knowledge and the right tools:

• Weight and Dimensions: Authentic Morgan Dollars weigh 26.73 grams and have a diameter of 38.1 mm. Deviations in these measurements are a red flag.
• Metal Composition: Genuine Morgan Dollars are composed of 90% silver and 10% copper. Using a handheld XRF analyzer can quickly determine the metal composition of a coin.
• Magnification: Examine the date, lettering, and details under a 10x loupe. Tool marks, uneven surfaces, or soft strikes may indicate a counterfeit.
• Professional Grading: Always purchase high-value coins like the 1895 Morgan Dollar from reputable dealers or certified by trusted grading services such as PCGS or NGC. These services provide authentication and encapsulate the coin in tamper-proof holders.

Conclusion

The prevalence of counterfeit 1895 Morgan Dollars poses a significant risk to collectors and investors. By learning how to identify fakes, buyers can protect their collections and avoid costly mistakes. As the coin market continues to grow, tools like third-party grading and metal analysis are invaluable for maintaining trust and confidence in the numismatic community.

Whether you’re an advanced collector or a newcomer, knowledge and vigilance are your best defenses against counterfeit 1895 Morgan Dollars.

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