1. adjective
1900 Fraudulent; fake; having a misleading appearance.
A good jeweler should be able to tell a real stone from a phoney one.
2. noun
a) A person who assumes an identity or quality other than their own.<!1902
He claims to be a doctor, but hes nothing but a fast-talking phoney.
b) A person who professes beliefs or opinions that he or she does not hold.<!1902
Wikipedia foundation.