Atlanta Gold & Coin had previously discussed fake silver dollars and how to identify them. When this article was originally published, a then-recent piece in the Auburn Journal served as a reminder that replica silver dollars remained common in the marketplace. The Auburn Journal writer described a customer who had purchased heavily discounted Morgan silver dollars from a China-based eBay seller. Although many reputable coin dealers sold coins online at the time of publication, Atlanta Gold & Coin recommended established U.S. companies because a full refund was more likely if an unlikely problem arose.
When this article was originally published, Atlanta Gold & Coin considered an in-person purchase of Morgan silver dollars—or any other coin—the preferred approach. It allowed a buyer to examine the coins before completing the purchase and to take delivery immediately. If a buyer had questions about whether the silver dollars being purchased were genuine, the original article encouraged asking the dealer to confirm authenticity. A dealer could do so by checking the coin’s diameter and width, weighing it, and testing it with a magnet. The article also identified the silver-dollar fake-coin detector from Fisch Instruments as another useful test.
Those checks could reduce the risk of unintentionally buying a counterfeit silver dollar, but the original article explained that confirming a coin’s metal composition with an X-ray spectrometer or electronic precious-metals tester could materially improve the odds of obtaining an authentic piece. Until relatively recently at the time of publication, electronic precious-metals testers had cost thousands of dollars, often more than $10,000. For anyone other than a substantial precious-metals investor, the article noted that buying such equipment was generally not financially practical.
At the time of publication, the original article reported that an accurate electronic assay for Morgan silver dollars had become more attainable for many investors. Atlanta Gold & Coin had recently acquired a precious-metals verifier from Sigma Metalytics and had been pleased with the purchase to that point. The verifier was said to work especially well with larger coins, including one-ounce American gold and silver eagles, Morgan silver dollars, and other one-ounce gold and silver coins. The article also reported successful tests of smaller-denomination coins. The strongest readings had come from placing an unencapsulated coin directly on the machine or using one of its wands on an unencapsulated coin. It also appeared to provide reasonably useful confirmation of precious-metal content for coins sealed in hard plastic holders. As noted in the original article, larger coins produced more accurate readings.
At the time of publication, Atlanta Gold & Coin had purchased the full package: the small wand, large wand, and bullion wand. The bullion wand was expected to be useful because the business purchased substantial quantities of 100 oz silver bars. Most bars purchased then came from familiar private manufacturers, though Atlanta Gold & Coin occasionally bought large generic silver bars and expected to feel more comfortable with those purchases going forward. The original article explained that the bullion wand could verify metal content at almost twice the depth of the standard wands. That additional depth could help identify counterfeit gold and silver bars with a heavy outer layer of plating.
When this article was originally published, Atlanta Gold & Coin stated that it was not a Sigma Metalytics representative and was not receiving compensation for the recommendation. Instead, the article shared the then-relatively-new device with readers in the hope that it could lessen the chance of acquiring a convincing counterfeit Morgan silver dollar or bullion coin. At publication, readers were invited to share their personal experiences with the device and whether they agreed with Atlanta Gold & Coin’s assessment.
