The Day I Almost Struck Gold – and Bought Fakes Instead
It was a cold, miserable January morning in 2025 — that time of year when everyone’s skint, the holiday buzz has worn off, and coin dealers like me find solace scrolling through online auctions, hunting for hidden gems.
That day would become unforgettable.
While browsing The Saleroom (https://www.the-saleroom.com/en-gb), I stumbled across a series of lots listed by HRD Auctions on the Isle of Wight (https://www.hrdauctionrooms.co.uk/). Normally, I bid through Easy Live Auction (https://www.easyliveauction.com/) — it’s not as glossy, but their flat £5 fee beats the hefty percentage surcharges elsewhere. Think of it like a £15 pint at the Dorchester versus £4.50 at the local cricket club: one looks fancier, but they both get you there.
This time, though, HRD were listing only on Saleroom, and curiosity got the better of me.
A Late-Night Discovery
It was 11 p.m., and after hours of scrolling I spotted Lot 250 — and my heart skipped. The photos seemed to show an 1847 Gothic Crown, an 1839 Victoria Crown, several George IV Wreath Crowns, and even Victoria gold £5 pieces. The 1839 Crown alone is valued at roughly £27,500 in Spink’s price guide (https://www.spink.com/site/index).
Other tantalising lots followed — 247, 248, 252 and 253 — all seemingly from the same private collection. The images showed coins of identical tone and patina, suggesting a single long-term owner. If authentic, this was a once-in-a-career find.
For reference, here are the lots I saw:
Lot 247: https://www.the-saleroom.com/en-gb/auction-catalogues/hose-rhodes-dickson/catalogue-id-srhos10127/lot-e0bb6857-a50b-4996-a9a3-b26400b1156a
Lot 248: https://www.the-saleroom.com/en-gb/auction-catalogues/hose-rhodes-dickson/catalogue-id-srhos10127/lot-234edd33-2794-41ba-a57e-b26400b11654
Lot 250: https://www.the-saleroom.com/en-gb/auction-catalogues/hose-rhodes-dickson/catalogue-id-srhos10127/lot-9bb3b7ff-51eb-4dd7-90b2-b26400b1184c
Lot 252: https://www.the-saleroom.com/en-gb/auction-catalogues/hose-rhodes-dickson/catalogue-id-srhos10127/lot-78726d59-096a-4a5c-91c0-b26400b11a8c
Lot 253: https://www.the-saleroom.com/en-gb/auction-catalogues/hose-rhodes-dickson/catalogue-id-srhos10127/lot-55abd44e-d361-4e97-8eed-b26400b11ba4
Each was guided around £50–£100, yet even at a glance you could see pieces worth thousands — if genuine.
The Collector’s Dilemma
Do I alert the auctioneer and risk them realising what they have? Or keep quiet, bid hard, and hope nobody else notices?
After two hours of zooming in, cross-referencing in Spink, and convincing myself I’d found buried treasure, I fired off an email asking for high-resolution images. To their credit, HRD replied quickly with a PDF of additional photos. No mention of replicas. No warnings.
I set a budget, calculated transport costs, even looked up hotels near the Isle of Wight. I was ready for a road trip. Thankfully, I didn’t click Book Now.
The Call That Changed Everything
Auction morning arrived. I was in the office early, double-checking the listings when my phone rang.
“Thank you for your interest,” said the auctioneer politely. “We’ve withdrawn Lot 250 and must make you aware that the other lots contain some replicas.”
Heart. Sank.
Still, there might be opportunity in the mix, so I joined the sale online. No video feed — just audio — which always feels like bidding blind. When my chosen lots appeared, the prices skyrocketed. Clearly, not everyone had received that phone call.
I fought hard and managed to secure Lot 252 for £600 (£797.64 after fees). Afterwards, I emailed an offer of £55 for the withdrawn fakes from Lot 250. They accepted, and the deal was done.
Testing and Spotting the Fakes
When the coins arrived, I began the detective work. Each piece went through a full inspection using simple, non-destructive methods that any collector can perform before investing in lab equipment.
Weight and Diameter
A genuine Victorian crown should weigh around 28.1 grams, with minimal variance from wear. The diameter should measure about 38.6 millimetres, with a thickness close to 2.9 millimetres. Anything heavier, lighter, or slightly off-round usually spells trouble. Many of these examples came close, but several fell well outside tolerance.
The Buoyancy Test
For silver coins, the water displacement method is an excellent confirmation. Genuine sterling silver has a density of 10.49 g/cm³. By suspending a coin in water and comparing its weight in and out of the glass, you can calculate its density. True silver will sink confidently; lighter base-metal imitations often show lower resistance and incorrect readings. Several of these pieces failed immediately.
Visual and Dimensional Checks
Some coins looked wrong from the start — dull colour, flat strikes, shallow relief. Others were more convincing, but when checked side-on, the rims gave them away. The rim, visible from a front or rear elevation, is one of the hardest features to reproduce accurately. On genuine crowns it’s sharply defined, uniform, and perfectly level. On replicas it’s often soft, uneven, or misshapen.
The edge lettering and milling are equally critical. Authentic crowns have crisp, deep engraving and consistent spacing. On these, the edges were poorly cut, the lettering uneven, and in a few cases completely incorrect in style or alignment.
The Sound Test
Lastly, the ring. A true silver crown produces a bright, bell-like resonance when lightly tapped — a tone that lingers. The fakes gave a dull clunk, the unmistakable sound of base metal beneath thin plating.
Sure enough, several pieces failed across multiple checks. The “1847 Gothic” proved to be white-metal plated brass, and the “gold” £5 pieces were tungsten cores with gilt wash. Some were obvious, others nearly perfect, but none survived scrutiny.
Lessons Learned
Even experienced dealers can get caught in the thrill of discovery. The promise of rare British crowns, the romance of an untouched collection, and the ticking clock of an online auction — together they cloud judgment fast.
If a deal looks too good to be true, it probably is. Yet every near-miss sharpens your eye and strengthens your process. Always request detailed photos, check listings across multiple auction platforms, and never assume authenticity from description alone. Many fake coins still pass through auctions, especially during house clearances.
Final Word from Imperial Hoard
At Imperial Hoard, we specialise in coin authentication, valuation, and the purchase of collections across the UK. Whether you’re a seasoned collector or have just inherited a box of old coins, our expertise can help you separate genuine treasures from clever imitations.
For more insights on spotting fake coins, valuing collections, and understanding the British coin market, visit the Coin Insights section of our website at https://www.imperialhoard.com/blogs/coin-insights.