A replica coin is a copy of a previously circulated coin. Most often, replica pieces are not legal tender, but some countries (e.g. Romania) have produced official commemorative coins bearing the status of legal tender that copy the designs of previously issued coinage. Replicas are not commonly sought after by collectors unless issued by an official minting authority.
Today, most replicas are marked with "COPY" or a similar designation to avoid scamming and counterfeiting. According to the United States Hobby Protection Act, it is illegal to produce or import a replica coin in the United States if it does not bear a "COPY" stamp, with an exception of ancient coin replicas. However, once in the United States, replica coins can be purchased and sold freely.