If your $5 Indian Head or any coin issued from the U.S. Mint has the word COPY anywhere on the coin, it is a copy of the coin.
Is It Illegal to Sell a Copy of a Coin?
The Hobby Protection Act (HPA) safeguards hobbyists and collectors from deceptive practices, like forgeries. The HPA seeks to prevent the production and distribution of imitation and replica numismatic products without proper disclosure.
This disclosure is to be made by prominently displaying the word COPY on the item. The mark should be legible and in close proximity to the replicated image or design so that customers are able to identify it easily.
The HPA was enacted in 1973, and in 2016, it was updated with new language to acknowledge the evolving online marketplace. The HPA’s new language sought to close loopholes that could be exploited to defraud customers and worked towards a more robust protection for consumers.
About the $5 Gold Indian Head
The $5 Gold Indian Head coin was issued between 1908 and 1929. The $5 Indian Head features a Native American wearing a war bonnet on the obverse and has an eagle perched on a branch on its reverse. It is a coveted coin among numismatists and collectors, which has resulted in replicas on the market.
Many of these imitations will have the word COPY located prominently on the design.
How To Know If Your Coin is a Replica
If you suspect that a coin might not be authentic, one of the first things to do is examine it for a word like COPY. If you do not find a word like COPY or Replica but still think your coin might be an imitation, consider the weight and dimensions of the coin.
For instance, if a $5 Gold Indian Head does not weigh 8.36 grams or have a 21.6 mm diameter, it may be a replica. A few more things to consider include examining the lettering, like mint marks, E PLURIBUS UNUM, and relief design elements.
A copy is likely to have inconsistencies, errors, and differences from the original design, and if these elements seem like a mismatch, you may have a counterfeit coin.
One way to ensure you are getting legitimate coins is to buy from retailers you have a relationship with and those who have been in business for many years. This vastly decreases the likelihood that you are buying counterfeit coins.
