You’re building a Lincoln Cent collection when spot this coin at a coin show, a 1943 cent. Now what you should know about the 1943 Lincoln Cent is they were made of steel because copper was needed for the war effort. However, there are a few copper 1943 cents and are worth a lot of money. As you see here, I bought this 1943 cent for $2, but I knew this was not a real copper cent but a steel cent coated in copper. How? I put a magnet close to this coin and the coin stuck to the magnet with ease. Why? Because steel is magnetic, but copper is not.
This example was to show you that what you see is not necessarily what you get when purchasing coins. Sadly, there are people out there that would be happy to take your hard earned money with a counterfeit coin. What can you do to avoid these fake coins?
Do the Research
Counterfeit coins are not easily detectable. Not only old coins are being altered. A 1932 quarter was altered to a 1932-S which is more valuable. Even fake slabs have been made to fool collectors.
There are a lot of pages online that discuss counterfeiting coins. Here are a few:
So don’t get caught off guard at a coin show or even a yard sale. Do the research and make sure the coin you want is the coin you’re buying.