Mike Sargent is Head Verifier at PCGS and is a leading expert on counterfeit detection. "Sarge" maintains a large database of known counterfeits and unfortunately is frequently adding new ones.

Counterfeiters fake money by copying legitimate coins, and they save money by using shortcuts. Thus, a common practice among counterfeiters is to share obverse or reverse dies when the design element is identical to that of another year. It saves a great deal of money and time to use the same reverse die over and over again while adding a new obverse die with a different date to make different counterfeits.

On coins such as the $1 and $3 gold pieces that have their dates on the reverse, the counterfeiter does the opposite; he uses the same obverse die over again while changing the reverse. By sharing these dies, the counterfeiter can make many different date and mint mark combinations. Fortunately for numismatic researchers and authenticators, this shortcut leads to repeating markers that help identify counterfeits.

In this article, we examine two $20 gold pieces that exhibit both excellent strike and luster. In fact, the luster is a bit too nice. It is smoother and more satiny than that seen on a genuine U.S. Saint Gaudens Double Eagle, which normally exhibits a grainier look.

When we look closely at the reverses of these two coins, we find a few traits that are common to both. A depressed tooling line runs between the two rays below the "Y" of TWENTY and just above the eagle's top wing. Also, a rather large but shallow depression appears on the eagle's left wing (this was probably a bag mark that repeated from the original coin used to produce this die). The two large rays above "WE" of IN GOD WE TRUST both have a small group of tooling lines on top of them as well as a few lines in the background. On the sun, there are two depressions that repeat (look directly under the first "T" of TRUST and the bottom of the sun at 6:00 by the rim). Again, these are probably from marks that were found on the original coin used to make this counterfeit.

When examining a St. Gaudens $20 gold piece, always be sure to check the edge lettering first. The single most common edge used on counterfeit Saints is referred to as the "stock edge." This edge is easily identified by looking at the "E" of E PLURIBUS UNUM. On top of the center bar of the "E" coming up at a slant from the outer edge is a tooling line. This line can be more evident on some stock edges than others but once you see it you will never forget it!

This edge has been found on counterfeit 1920, 1924, 1926, 1927 and 1928 Double Eagles. There is no reason to think that other dates with this common edge won't be found in the future.

On the obverse of the 1926 counterfeits, there are a few characteristics that will repeat with other 1926-dated Double Eagles. Multiple small depressions can be seen below Liberty's left arm. Directly above the 9 in the date, a small, round, distinct depression appears in the field. A large depression can be seen above the end of the ray that goes though the same 9. On the 1928 obverse, a large patch of tooling appears between the 3rd and 4th ray above the date. There is also a large depressed line running between the "B" and "E" of LIBERTY and a depression out at the end of Liberty's hair.

Authenticators often use the weight of a coin to determine if it is genuine or fake. Unfortunately, one can rarely use a coin's weight to distinguish a counterfeit U.S. gold coin from that of a genuine U.S. Mint product. The counterfeits almost always weigh well within the tolerances set by the Mint. The two coins we examined here weigh in at 33.42 grams and 33.43 grams respectively versus an ideal weight of 33.436 grams. This means that repeated tooling marks and depressions, such as those on the Double Eagles we show here, are the primary diagnostic tools for analyzing spurious U.S. gold. Be sure to have any potential gold coin purchases authenticated by a competent expert or better yet, stick with PCGS-certified coins because of our guarantee of authenticity and grade.