If such fakes are out there, they would almost certainly be slowly dripped into the market to not crash prices, while the forgerers simultaneously flood the market with obvious fakes to make people feel more secure about buying the fee cards that do pass the light and dot tests.

At the end of the day, its just ink printed on paper. The reserve list cards were printed when magic was a small hobby. With how valuable reserve list cards are, it would be worth it for forgerers to obtain or reverse engineer the exact same types of paper and printers used to print the first magic cards. How it could be impossible to reverse engineer printing techniques from the 90s?

The methods/tests to detect fakes are common knowledge which means that forgerers know what they need to modify in ordet to pass those tests.

It’s inevitable that with machine learning and other advanced techniques, counterfits that are indistinguishable from genuine cards will arise. They are probably technically feasible even now.

With singles of power 9 going for tens of thousands of dollars, it is absolutely worth the time and effort it would take for counterfeiters to perfect the process and make counterfeits that pass all the common tests.

Imo, there is a very high chance that such forgeries already exist, and we have no way to know if they are very slowly dripped into the market to not plummet card prices, while forgerers also flood the market with obvious fakes to make people feel more secure in the cards that pass all the tests.