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Counterfeit Detection: 1924-S Standing Liberty Quarter

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CCFPress's Avatar
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 Posted 08/30/2024  09:37 am Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message Number of Subscribers
NGC - This counterfeit quarter dollar likely wasn't made to fool collectors, but to circulate as money. Let's take a look at the signs that show us it's not genuine.

As we've said in previous Counterfeit Detection columns, no US coinage issue is immune from counterfeiting. Classic rarities and key dates, like the 1804 dollar and the 1916-D dime, are frequent targets of counterfeiting, but so too are more common coins. In fact, virtually every classic US coin has been counterfeited. NGC has even encountered complete date and mintmark sets of Morgan dollars, Seated Liberty half dollars, and Trade dollars — all fake!


Counterfeit 1924-S Standing Liberty Quarter

While the origins of this 1924-S Standing Liberty quarter are not precisely known, it's believed to be a Depression-era counterfeit, made to circulate at its face value. In other words, it's an old fake. Many such contemporary fakes are seen in average circulated grades and have fairly obvious flaws that don't fool collectors, but wouldn't have caused any hiccup in daily commerce. While 1921 and 1923-S quarters, among other dates, can be worth several hundred dollars in fine condition, the 1924-S is worth only about $40. Usually, it's just not worth a counterfeiter's time to focus too much effort on replicating a circulated 1924-S quarter - although uncirculated copies and coins altered to appear full head do exist for this date.


Details of this coin are "mushy" and indistinct

All the details of this coin are "mushy" and indistinct, even for a circulated example. That alone should cause any authenticator to pick up a magnifier and take a closer look. Authentication examinations usually start by looking at the date and mintmark. Without question, the first thing worthy of close examination on this coin is its mintmark. On genuine examples, the mintmark will be tall, upright, and have serifs. This coin shows a misshapen mintmark that is comparatively squat, leaning, and without serifs. It is rather crudely rendered and rough in appearance, rather unlike the mark seen on genuine coins.

Although this coin is low-grade, it's worth looking for tooling marks or other die flaws that help to identify it. A series of raised lines are visible under the "Y" in "LIBERTY." While heavy die polish does appear on some genuine Standing Liberty quarters of this era, these marks are deeper than they should be, as though they were created with a file or on an improperly prepared die. An unusual die feature like this isn't always condemning, but taken in combination with the bad mintmark, there's enough evidence to make this an open-and-shut case.

Read More: Counterfeit Detection Series

Check out 1924 S Standing Liberty Quarters on ebay.
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Coinfrog's Avatar
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 Posted 08/30/2024  11:41 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Wow, that's scary stuff.
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 Posted 08/30/2024  9:00 pm  Show Profile   Bookmark this reply Add halfamind to your friends list Get a Link to this Reply
Wow! How many non-contemporary counterfeits are floating around in our collections?
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 Posted 08/31/2024  11:06 pm  Show Profile   Bookmark this reply Add apcol258 to your friends list Get a Link to this Reply
Very cool. Probably worth more than the real thing.
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CentR's Avatar
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 Posted 09/01/2024  12:57 pm  Show Profile   Bookmark this reply Add CentR to your friends list Get a Link to this Reply
It's interesting that weight, dimensions, and gross metal composition assessments aren't mentioned. You'd think this would be especially helpful with a fake thought to be from the depression era, as the main point of counterfeits at that time was to make fakes from less expensive metals and counterfeiting technology was less exact than it's become.

Without those more definite physical assessments to support the conclusion, a purely aesthetic assessment has at least some potential caveats.

For example, the mint mark appears to be an S/S repunched mint mark (RPM). This suggests the coin was produced from a hand punched die. From what I've read, counterfeiters don't use hand punched dies, only the mint does.

A counterfeiter would either have intentionally wanted to include an RPM in the design, which seems counterintuitive if their goal is to pass it off as bonafide, or happen to use an unattributed RPM, something likely pretty rare, as the template coin used in producing a fake die, then not noticed the glaring flaw.

In regards to mushy features, in this particular case, it seems to my naive eye that it could also be at least somewhat attributed to a worn die and circulation wear.

I'm not saying this is any more of a definitive assessment. I'm saying it's hard to know definitely if this coin is a fake without doing some simple assessments of its physical and chemical properties.

By the way, if anyone has a "counterfeit" like this they'd like to sell, please PM me. I am obsessed with unattributed SLQ RPMs and would be interested.
Edited by CentR
09/01/2024 12:58 pm
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 Posted 09/01/2024  4:43 pm  Show Profile   Bookmark this reply Add apcol258 to your friends list Get a Link to this Reply
Below is a more thorough article on this specific counterfeit. The silver content of those examined is actually above mint levels. With the price of silver below the face value of the coin, there was no incentive to take a risk and use a different metal when the counterfeiters stood to profit by just using a similar silver alloy as the mint. The same can be said about the micro O Morgan counterfeits.

https://www.pcgs.com/news/contempor...ue-deceiving
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CentR's Avatar
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 Posted 09/01/2024  9:45 pm  Show Profile   Bookmark this reply Add CentR to your friends list Get a Link to this Reply
Thanks apacel258 for the link to the article. The information on silver content seems pretty definitive. That said, there's still some things nagging at me.

One of these came up on ebay back in April (2024). I attached an image of the area around the RPM I still have on my phone. Unfortunately the ebay ad is no longer up, so I only have a partial image. Perhaps if someone at Executive Coin Company, who canceled the auction and declined to sell me the coin when I tracked them down, might have a better image.

The ebay specimen has less circulation wear and damage than the coin in the article, and may have been a stronger strike.

As a consequence, as you can see, the mintmarks and other elements seem less crude than the specimen in the article, which is supposedly the most telling aspect of the counterfeit.

The repunched mintmarks are not exactly standard, but SLQ RPMs can get a bit tweaked during the repunching process.

The article states that the split in the star is due to retooling, and that is also one of the most telling aspects of the forgery.
There's more detail on the ebay specimen. There's splits on the star and there's also splits in the 9 on the date. The splits on the 9 can't be seen on the coin in the article due to circulation wear. It may just be me, but the splits on the star and the 9 on the ebay specimen, when taken together, look to me more like standard doubling, not retooling. I've even convinced myself that the 1 is too wide on the coin in the ebay ad, despite the fact that it is too worn to tell.

At this point, to provide a counterpoint, I've had to evoke a RPM occurred concurrently with a DDO, which is sounding a bit thin. Moreover, there still seems to be the irrefutable evidence that the specimen in the article has nonstandard silver content, 91.5% silver instead of 90%, which is too far outside the norm to likely be just variation in the alloy.

But even that kind of seems odd to me. I get that trying to use standard levels of silver could reduce risk of detection. It just seems not an insubstantial cost, as that would translate into roughly 12 cents worth of silver per coin if the counterfeit was also made the standard weight to evade detection (sliver was 68 cents an ounce in 1924).

Again, I am not saying that the assessment in the article is incorrect. I would just love to know about other specifications, such as the weight, diameter, and width of the counterfeit. Maybe someone at Executive Coin could illuminate us if they happen upon this post, or if I call them and ask them to check.

There's is one thing that makes me hope that this is a fake. I often think about the coin in the ebay ad. It was among the most striking SLQ unattributed repunched mintmarks I've come across. If it is a fake, at least I can finally write it off my list of coins I think about way too often, the ones that got away. Although I would still love to have one either way.
Edited by CentR
09/01/2024 10:04 pm
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 Posted 09/01/2024  10:40 pm  Show Profile   Bookmark this reply Add apcol258 to your friends list Get a Link to this Reply
I know that feeling of the one that got away. I think all the evidence points toward contemporary counterfeit. This counterfeit was also discussed on the CU forum about a year ago by Daniel Carr. He had some great pictures of a better grade example. Unfortunately the forum here prohibits me from posting a link.

An analysis of the coin there showed a small amount of lead present. Something you wouldn't see in a genuine mint product. I would imagine like the Micro O Morgan's that most of these are circulated. The counterfeiters may have even put them in a tumbler or something similar to artificially wear them before distributing. Higher grade ones are probably quite uncommon.

Even as a counterfeit I would love to have one in my collection as well. We think generally of counterfeits as made to deceive collectors, but these ones made to be used in commerce open up an interesting piece of history.
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IndianGoldEagle's Avatar
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 Posted 09/07/2024  5:08 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Other than the mint mark, this one is very deceiving.
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colonialjohn's Avatar
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 Posted 09/24/2024  4:18 pm  Show Profile   Bookmark this reply Add colonialjohn to your friends list Get a Link to this Reply
Jay Turner states: What is also strange about this piece is that it is made from good silver. Many contemporary counterfeits are debased or made from plated cheap metals, giving the counterfeiters a greater arbitrage in producing money to be spent. This example tested at a higher silver content of 91.5% silver compared to the standard 90% silver issues from the United States Mint. In other publications, tests done on other examples of this counterfeit came back as sterling silver, or 92.5% pure. JPL: Although the piece is only ~100 years old silver surface enrichment could raise the level of silver here above the mint standard. Even to 92.5%. We may also see Pb but normally 0.1-1%. Values >1% we can become suspicious and term it a CCC. Good thread. It appears as a solid CCC IMO. Perhaps a trace metal cross-comparison of several good SLQ's and several of these counterfeits are in order. I am working on a three-tier SEM/EDS method currently with one paper already completed on Counterfeit 2 Reales. More to follow in 2025 with taking this procedure into U.S. Errors to judge its power and usefulness. This coin is certainly a candidate. Interesting thread! John Lorenzo, Numismatist.
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mdh157's Avatar
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940 Posts
 Posted 09/26/2024  7:19 pm  Show Profile   Bookmark this reply Add mdh157 to your friends list Get a Link to this Reply
I agree with Coinfrog....this is quite scary. I have seen pics of certified examples of these coins that have those types of lines on them, which I always wrote off as die polishing. Guess I need to be careful even with certs because even they are not always perfectly correct. Good example is how many of these I have seen that are FH but do not have an earhole or are flat in the temple area.
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