What are novelty coins?
The world of coin collecting is one that has been marred by the existence of novelty coins for a very long time. Novelty coins were originally created in order that people could fool family and friends, and were sold as a magic trick. Websites, collectors and dealers get regular contact from people asking about the value of their rare two-headed coin. They are available in just about any denomination from virtually every country in the world. It is very difficult to tell whether a two headed, or two-tailed coin is genuine or not but it is very unlikely that your coin is anything but a magicians coin.
Recognizing novelty coins
The novelty coin has always had a large degree of curiosity surrounding it. There are no seams around the edge and the coins really do appear genuine. This is why so many people are regularly taken in by it. You will obviously want to check that what you have is simply an item of curio and not a genuine and very valuable mistake. The first thing to do is to find a coin of similar type to your two-headed coin. The simplest way to tell if your coin is a fake is to drop them both on a relatively hard surface. A real coin will have a ring to it because it is one solid piece of silver. Obviously you shouldn’t drop it too far, just in case you do have the one valuable coin from millions of novelty coins.
Novelty coins are made by hollowing out one coin and trimming another down so that it fits perfectly inside. This means there are no seams around the edge of the coin. To look for any seams or connections you need to look under the rim; use a very powerful magnifying glass to look for the seam, even knowing where it will be does not mean it will be easy to find. There is a very good chance that you will have one of the many novelty coins created but if you still can’t be sure then the only real way to find out is to take it to a coin expert.
Are novelty coins legal?
A quick flick through many different magazines or a visit to a magic or joke shop will usually yield novelty coins sold packaged as novelty coins. They are perfectly legal to sell as long as no fraudulent or misleading sale is made. As long as the coin is sold as a novelty and you do not state or imply that it is a minting error then they are legal to sell. Usually a two-headed dollar will cost you at least $5. This is because the manufacturer obviously needs two coins to create one novelty coin.
They are then hand crafted to create the exceptional quality of work that goes into them. They may be a novelty, or an item of knick-knack but they are very well made. One coin is lathed to create the hollow and then the second coin is trimmed down to the perfect size. The two parts fit together immaculately to create novelty coins. This is not a quick process and is done by hand to ensure the accuracy required that has fooled so many people over such a long period of time.
The value of novelty coins
Unfortunately, novelty coins are not rare. Once you’ve taken them out of the package they are virtually worthless. It is very unlikely they will ever be worth more than the original sale price, and even if the coins used to create novelty coins are rare and valuable because they have been completely broken they lose any value they may have otherwise had.
