In numismatics, authenticity is everything.
Whether you’re holding a centuries-old coin from colonial times or a beautifully printed modern banknote, the joy of collecting lies in preserving real history. But with that comes a risk—counterfeiters are getting better, and even seasoned collectors sometimes fall victim to fake coins and forged paper money.
So how do you protect yourself?
This detailed guide will teach you how to recognize common signs of counterfeit coins and banknotes—no matter what country or era you collect. To make it even more relatable, we’ll use actual examples from Philippine numismatics to help you apply these lessons to your own collecting journey.
PART I: SPOTTING FAKE COINS
1. Weight and Size Discrepancies
Coins are minted with exact measurements in weight and diameter. A coin that’s too light or too heavy—even by a small margin—could be a red flag.
Case in Point (Philippines):
The 1903-S One Peso coin, issued during the U.S. Administration of the Philippines, is known for its silver content and precise specs. It should weigh 26.95 grams and measure 38 mm. Many fakes weigh as little as 24g or are slightly undersized. A few grams off might not seem much—but for collectors, it could mean the difference between a $30 coin and a worthless fake.
Tip:
Use a digital gram scale and a caliper to confirm your coin’s specs. You can find accurate reference data in numismatic catalogs, mint reports, and on the websites of grading companies like PCGS or NGC.
2. Surface Texture and Edge Seams
Genuine coins are struck using high-pressure dies, resulting in sharp details and smooth, clean edges. Counterfeit coins—especially cast fakes—are made using molds. This often leaves behind:
- Tiny bubbles or pits
- A slightly grainy or “fuzzy” surface
- Seam lines along the rim
Example:
Some fake 1868 Isabel II 10 Centimos coins found in the market show bubbly textures around the portrait and dull rims. This is typical of cast coins, which lack the pressure and precision of die-struck originals.
Tip:
Always inspect coins under a 10x magnifying loupe. Focus on the edge and around the lettering—these are where imperfections often hide.
3. Incorrect Metal or Magnetic Response
Coins were historically made from specific metals for consistency and value. Some fakes are struck in plated steel or aluminum to imitate silver or copper coins.
Example:
The 1947-S MacArthur commemorative 50 Centavos was struck in 90% silver. Authentic examples are non-magnetic. If your coin sticks to a magnet, it’s an immediate warning sign—it’s likely a base metal fake with silver plating.
Tip:
Carry a small magnet when buying coins. It’s one of the fastest tests you can do.
4. Font, Spacing, and Design Errors
Look closely at the legends, dates, and design elements. Fakes often feature:
- Incorrect fonts
- Crooked or uneven lettering
- Missing serifs
- Spaced-out or crowded inscriptions
Example:
Fake Spanish-Philippine Alfonso XIII coins often feature incorrect fonts and irregular spacing in “FILIPINAS” or the date. Some even show date combinations or mintmarks that were never issued.
Tip:
Compare the coin side-by-side with an authenticated version from a catalog, auction archive, or certified grading service.
5. Fantasy Coins That Never Existed
Not all fakes mimic real coins—some are invented entirely. These “fantasy issues” are often made to fool new collectors or sell as novelty items.
Example:
Coins like the “1975 Marcos 5 Peso silver proof” with high-relief portraits or frosted mirrors do not exist in any official BSP records. While they may look striking, they were never legal tender or issued by the Central Bank.
Tip:
If you can’t find a coin in any official reference book, catalog, or BSP commemorative list—be cautious.
PART II: DETECTING FAKE BANKNOTES
1. Incorrect Paper Quality
Real banknotes use highly engineered security paper that feels firm, slightly textured, and fiber-reinforced. Fakes are often printed on:
- Cheap commercial paper
- Smooth or glossy stock
- Polymer when it should be paper
Example:
The 1944 Philippine Victory Series 1 Peso has a distinct linen feel, embedded blue/red fibers, and is durable. Counterfeit versions often feel flimsy or too smooth.
Tip:
Rub the note gently between your fingers. Does it feel like a genuine bill—or like something printed at home?
2. Missing Watermark and Security Thread
Modern and historical banknotes usually contain security threads and watermarks, which can be seen when held up to light.
Example:
The ₱1000 New Generation Currency (NGC) note includes:
- A portrait watermark of José Abad Santos
- An embedded thread that glows under UV light
If these features are absent, or if the watermark appears printed rather than embedded, you’re likely holding a fake.
Tip:
Always inspect notes against a bright light. Watermarks should appear softly, with depth—not flat or gray.
3. Inconsistent or Cloned Serial Numbers
Check for:
- Blurred or thick serials
- Different fonts or ink tones
- Two identical serial numbers on different notes
Example:
Fake ₱500 notes often show one serial number printed properly, while the other is faded or misaligned—an easy giveaway of forgery.
Tip:
Compare serial numbers with others in the same series. Use official BSP guides or banknote catalogs.
4. Poor Color Quality and Blurry Prints
High-quality printing is difficult to fake. Look for:
- Colors that bleed or overlap
- Blurry portraits or seals
- Inconsistent shading or line thickness
Example:
On authentic ₱100 bills, the BSP seal and text remain sharp under 10x magnification. Counterfeits often have pixelated patterns or soft, blurry borders.
5. Missing UV or Microprint Features
Many modern banknotes contain:
- Microtext (e.g., tiny words only visible under magnification)
- Fluorescent fibers and threads that glow under UV light
- Optically variable inks that change color when tilted
Example:
The ₱100,000 Philippine Centennial commemorative banknote (1998) is filled with hidden features like microtext, UV-reactive ink, and security threads. Fakes usually ignore these complex features due to high production costs.
Tip:
Invest in a UV flashlight and a basic loupe for these checks. They're small but powerful tools for collectors.
How to Protect Yourself and Your Collection
1. Always Learn From Trusted Sources
Familiarize yourself with:
- Bangko Sentral ng Pilipinas (BSP) official records
- NGC, PCGS, and PMG databases
- Auction archives (e.g., Stack’s Bowers, Heritage)
- The Pick catalog for banknotes
2. Only Buy from Reputable Dealers
Avoid impulse buys from unverified sellers, especially on social media or online marketplaces. Look for sellers affiliated with grading companies or known in the community.
NumisTreasures is an authorized PCGS and CCG dealer in the Philippines, offering grading and consignment services for:
- Coins (PCGS, NGC)
- Banknotes (PMG)
- Stamps (ASG)
- Comics and Cards (CGC)
3. Have Your Items Professionally Graded
Grading ensures authenticity and provides long-term protection through tamper-evident holders.
Benefits include:
- Peace of mind for collectors
- Better resale and auction value
- Recognition of rarity and grade
If you suspect a coin or note might be fake, or simply want it certified, NumisTreasures can assist with safe-hand submission to top grading companies.
Trust, But Verify
Fakes may always exist in the world of collecting, but they don’t have to fool you.
With the right tools, a bit of training, and help from experts, you can confidently identify authentic numismatic pieces—and build a collection rooted in real history, not imitation.
Whether you're collecting U.S. colonial coinage, English Series banknotes, or modern Philippine commemoratives, these signs and examples are your first line of defense.
Your knowledge is your protection. And your collection deserves nothing less.
- Have a coin or banknote you're unsure about?
- Send us clear photos and we’ll help you assess it.
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Want to submit for grading? We handle the full process—secure, simple, and trusted.
NumisTreasures
Authenticity. Expertise. Preservation. Happy Collecting!
The Collector’s Guide to Spotting Fake Coins and Banknotes