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I ride a blacksmith made velocipede, and this one looks real at first glance. You are not going to put adjustable bearings on a wall hanger. The geometry looks right for the period, no visible welds, no visible strap iron, etc. The handlebar can be rotated around the grip access for a brake, another working feature, and the wood pedal spools seem to have honest wear. The headset may be put together wrong, which at least means it is possible to take it apart. The wheels are properly constructed, unlike the decor items I've seen. From these pictures I'd say it seems genuine and is worth a closer look. A lot of US made velocipedes from 1868-1869 were pretty crude and made for the rink rental trade, not like the Parisian gems of a little earlier. These bikes are surprisingly rideable within their pretty strict limits. When they are good, they are very very good and it is easy to see how some people would get the bug to improve them.
Antiques always fascinated me probably since my Mom worked at a local antique store for years. One day I stopped by and they got in a lot of mechanical cast iron banks. Problem was the coin door had a Philips head screw in it, so they were Chinese fakes. Then she showed me "real" ones, in quotes since those did have slotted screws and they were aged by buried in wet dirt for a time.
Growing up my Dad's (rip) best friend lived down the street, Bobby Stovall. His mother was an folk artist but didn't start painting until she was in her 60s. One day Mom called me from the antique store saying they just got in a shipment of ORIGINAL Queena Stovall paintings. She said I could buy them for cost, $40 each.
Today prints go for much more than that...imagine what the originals would be worth?
A few years ago I saw a documentary featuring an artist who painted Rembrants. I mean he painted his lost works, or simply made copies of known works. The guy was a genius who had it down to a science knowing the exact materials (wood, linen, nails), exact homemade brushes, exact paint formulas back then using plant dyes, eggs, oils, etc. Then the aging process...every detail an exact science.
The guy's adrenaline rush was taking his "Rembrandts" to world renown art museums and offered $millions after their experts verified 100% authenticity.
My point is as time goes by, prices increase, counterfeiters get better even the experts get snookered.
As one fellow said years ago if you're going to collect things you best become the world's expert in one specific thing. Even then it's not that easy.