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I’m a coin expert – the exact years you need to look for to find $2,000 worth of valuable pieces and protect yourself from counterfeits

DR Mike Fuljenz is America’s gold expert.

As President of Universal Coin and Bullion, he has won well over 60 national and regional awards for his work in consumer education and rare coin protection.

Mike Fuljenz is President of Universal Coin & Bullion in Beaumont, Texas

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Mike Fuljenz is President of Universal Coin & Bullion in Beaumont, TexasCredit: Universal Coin & Bullion

He is knowledgeable about gold and silver bullion and helps many victims fight counterfeit coins and other precious metals.

According to the Anti-Counterfeiting Educational Foundation, hundreds of websites have sold counterfeit coins with little to no oversight in recent years.

dr Fuljenz shared with The Sun the most valuable coins on the market and tips on how to protect yourself from online scams.

The best years to look for on coins

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The expert said that those looking for a penny with rare dates or certain flaws stand less chance than those looking for the average coin.

However, there are some specific coins and dates to watch out for.

dr Fuljenz said that every cent, quarter and half dollar from 1964 or earlier is worth about 18 times face value.

“People make money there,” said Dr. Fuljenz.

“So if you have $10 in quarters, dimes, half dollars, even if you have $1, two half dollars is worth $18,” he added.

Other coins to keep an eye on are all silver dollars issued from 1878 to 1921.

These are usually worth at least $25, but if new they could be worth $50.

Additionally, coins like Morgan Silver Dollars are very valuable between these dates due to their low mintage of just 110,000.

This particular coin was sold on eBay for $2,024.

Some can even be worth thousands depending on the history of the coin, like the 1909-S VDB wheat cent.

This particular coin sold for $1,975 on eBay due to its controversy.

Engraver Victor David Brenner printed his initials – VDB – on the back of the original design, which infuriated many experts.

Fake Coins

A Texas investor received counterfeit gold and silver coins

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A Texas investor received counterfeit gold and silver coinsCredit: Anti-Counterfeiting Educational Foundation

dr Fuljenz said the reason so many collectors, especially novices, are fooled is because fakes don’t sell for oodles of money.

Fraudulent traders list fakes well below market value, luring buyers.

“Scam companies selling counterfeits are offering coins at a price that is too low, below the spot price, no one is going to sell you bullion or bars below the spot price of gold or silver,” said Dr. Fuljenz.

“There is no such thing as Santa Claus in numismatics or in precious metals,” he added.

How to protect yourself from counterfeits

The problem with counterfeiting is getting worse because there is no oversight.

dr Fuljenz said it’s up to the buyer to do their duty of care and make sure the product they’re buying is legitimate.

The expert gave three tips to protect yourself from fraud.

1. Check the spot price

A spot price is the current market price for a coin or other commodity.

This means if a coin is too far below the spot price, there is most likely a problem.

2. Check the company page

The problem with Facebook or other websites is that some fraudulent traders steal legitimate company logos or names and use them as their own.

They even take the company’s building, phone number and email address and use them on their websites.

So you need to make sure you’re going with the right company, which means you might have to do some digging.

3. Check the company’s involvement

The last tip is to make sure that the company you are buying the coin from is involved in the world of coins in some way.

dr Fuljenz said that a reputable company or seller listing coins should have at least received some sort of credit, published, or served on boards.

He added that it’s a good idea to only buy coins from someone with a good reputation.

“You have too much to lose by mishandling you,” said Dr. Fuljenz.

Fake coins to keep an eye on

Many counterfeits to watch out for are quarters and half dollars.

However, since the most popular coins are those featuring the American eagle, these should be bought from a reputable dealer.

Also, fakes are generally not made of gold.

In addition, if you place them next to real coins, the size differs due to the weight and density of gold versus copper, nickel, and zinc.

“But the bottom line is that you need to find the right dealer because there are tons of gold eagles, silver eagles and other popular gold and silver coins and bars that are counterfeit online online,” said Dr. Fuljenz.

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https://www.the-sun.com/money/5930048/valuable-coins-protection-counterfeits/ I’m a coin expert – the exact years you need to look for to find $2,000 worth of valuable pieces and protect yourself from counterfeits

CELINE CASTRONUOVO

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