What is the value of a Chinese counterfeit 1906 Silver dollar?

Answer 1

Indian head cents were never struck in silver, and all 1906-dated cents were minted in bronze. If the coin appears silver in color it was probably plated for use in jewelry. Even though the plating destroys any collectible value you haven't lost much because 1906 is a common date for Indian head pennies; in worn to average condition they retail for $1 to $5.

Answer 2

For about 99.9999% of all counterfeits the answer is "a lot less than you paid for it". That's the principle of counterfeiting, after all - to scam someone. As you probably already determined, the 1906 date is a huge red flag because no US silver dollars were minted from 1905 to 1920 inclusive.