It's not illegal to manufacture a counterfeit US coin and sell it in China. That's under Chinese law. Interestingly it is illegal to manufacture a counterfeit Chinese coin and sell it in China.
What is illegal under US law is the importation of counterfeits unless they are stamped COPY (Hobby Protection Act).
However, think what it would cost to open and inspect every single package coming in from China? Nobody wants the delays and costs that would entail. You would need 1000s of additional customs inspectors, knowledgeable about each class of goods.
The other way to stop it would be for payment processors to refuse to process transactions for these goods. In order to receive the best payment rates for credit cards, the vendor now has to transmit a detailed invoice-type document. But that's imperfect too - what's to stop the seller from calling them "Ornamental Metal objects" instead of "Numismatic coins".
What I meant, in context, is that it is illegal to sell counterfeit coins in the US. But good luck trying to get any real teeth in enforcement.
This person got over 10 years in prison. It's not the death penalty that could be handed down in China, but it seems pretty stiff for the US.
Paul Gilkes wrote:
A New Jersey man who pleaded guilty in June 2018 to federal charges of importing and selling counterfeit United States coins and precious metals bars that, if genuine, would be worth more than $46 million was sentenced to 10-and-a-half years in prison.
It's not illegal to manufacture a counterfeit US coin and sell it in China. That's under Chinese law. Interestingly it is illegal to manufacture a counterfeit Chinese coin and sell it in China.
What is illegal under US law is the importation of counterfeits unless they are stamped COPY (Hobby Protection Act).
However, think what it would cost to open and inspect every single package coming in from China? Nobody wants the delays and costs that would entail. You would need 1000s of additional customs inspectors, knowledgeable about each class of goods.
The other way to stop it would be for payment processors to refuse to process transactions for these goods. In order to receive the best payment rates for credit cards, the vendor now has to transmit a detailed invoice-type document. But that's imperfect too - what's to stop the seller from calling them "Ornamental Metal objects" instead of "Numismatic coins".
What I meant, in context, is that it is illegal to sell counterfeit coins in the US. But good luck trying to get any real teeth in enforcement.
This person got over 10 years in prison. It's not the death penalty that could be handed down in China, but it seems pretty stiff for the US.
Paul Gilkes wrote:
A New Jersey man who pleaded guilty in June 2018 to federal charges of importing and selling counterfeit United States coins and precious metals bars that, if genuine, would be worth more than $46 million was sentenced to 10-and-a-half years in prison.
They are outnumbered by those who get away with it, don’t you think?
It's not illegal to manufacture a counterfeit US coin and sell it in China. That's under Chinese law. Interestingly it is illegal to manufacture a counterfeit Chinese coin and sell it in China.
What is illegal under US law is the importation of counterfeits unless they are stamped COPY (Hobby Protection Act).
However, think what it would cost to open and inspect every single package coming in from China? Nobody wants the delays and costs that would entail. You would need 1000s of additional customs inspectors, knowledgeable about each class of goods.
The other way to stop it would be for payment processors to refuse to process transactions for these goods. In order to receive the best payment rates for credit cards, the vendor now has to transmit a detailed invoice-type document. But that's imperfect too - what's to stop the seller from calling them "Ornamental Metal objects" instead of "Numismatic coins".
What I meant, in context, is that it is illegal to sell counterfeit coins in the US. But good luck trying to get any real teeth in enforcement.
This person got over 10 years in prison. It's not the death penalty that could be handed down in China, but it seems pretty stiff for the US.
Paul Gilkes wrote:
A New Jersey man who pleaded guilty in June 2018 to federal charges of importing and selling counterfeit United States coins and precious metals bars that, if genuine, would be worth more than $46 million was sentenced to 10-and-a-half years in prison.
They are outnumbered by those who get away with it, don’t you think?
By number of people probably but by potential dollar volume, I don’t know. I’d love to hear the thoughts of the ACEF.
Comments
This person got over 10 years in prison. It's not the death penalty that could be handed down in China, but it seems pretty stiff for the US.
https://www.coinworld.com/news/precious-metals/new-jersey-man-gets-lengthy-prison-term-for-selling-counterfeits
They are outnumbered by those who get away with it, don’t you think?
TurtleCat Gold Dollars
By number of people probably but by potential dollar volume, I don’t know. I’d love to hear the thoughts of the ACEF.
One case (from 2018-2019) which is notable for the volume. Small-scale offenders don't get prosecuted.
ANA 50 year/Life Member (now "Emeritus")