Secret Service investigating at least one counterfeiting case.
CaptHenway
Posts: 32,631 ✭✭✭✭✭
A longtime dealer I know on the dealer-to-dealer network just posted this:
"Just had a visit from the Secret Service - a customer purchased 4 GSA CC
dollars off Craig's List and the agent wanted to verify that they were NG.
There was one each 80-CC, 81-CC, 84-CC, 85-CC -- all very childish
counterfeits in similarly childish GSA boxes.
It was nice to see the Secret Service working on it though."
There is hope they are pursuing others.
"Just had a visit from the Secret Service - a customer purchased 4 GSA CC
dollars off Craig's List and the agent wanted to verify that they were NG.
There was one each 80-CC, 81-CC, 84-CC, 85-CC -- all very childish
counterfeits in similarly childish GSA boxes.
It was nice to see the Secret Service working on it though."
There is hope they are pursuing others.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Comments
<< <i>Probably related to a thread I posted a while back. >>
What state?
ZeroHedge makes debut at White House press corps briefing
ZeroHedge makes debut at White House press corps briefing
<< <i>also a good reason for bullion buyers to stick with US coinage. >>
??
There are plenty of fake bullion in us types
sure like seeing those tax dollars put to good use. i never get tired of that subject.
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<< <i>once these fakes enter the US market it becomes extremely difficult to prevent their eventual sale. The key lies in preventing their entry. That will take a co-ordinated effort with the source country's help. >>
Market entered.
Personally, I'd like to see a massively coordinated effort from these boards to write letters to ICE and the SS about a couple of dot.com sites that get named here occasionally. Those domains could br seized although it is unlikely. I hear one site is going to try to Ipo soon... It'd be great timing if we could do something asap.
Coin Club Benefit auctions ..... View the Lots
<< <i>I hope they catch the crooks...... >>
The real crooks are the manu and the knowing purchasers.
I'd like to put the fear of the law and may e some economic fear into the sites' owners.
Back in the 1960's there were very high quality die struck counterfeits being made of the key date Indian and Lincoln cents.
In the 1980's there were large numbers of counterfeit gold coins being made, many/most with the proper gold content.
The current wave of counterfeits from Asia started in, I believe, the late 1990's with Trade Dollars the first to be targeted.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
There was a thread here back then.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
<< <i>
<< <i>also a good reason for bullion buyers to stick with US coinage. >>
??
There are plenty of fake bullion in us types >>
An ASE/AGE/APE buyer runs much less risk getting a counterfeit than he does with other types of bullion. The primary reason for this is that as actual US coinage it remains under the protection of the secret service.
ZeroHedge makes debut at White House press corps briefing
<< <i>
<< <i>
<< <i>also a good reason for bullion buyers to stick with US coinage. >>
??
There are plenty of fake bullion in us types >>
An ASE/AGE/APE buyer runs much less risk getting a counterfeit than he does with other types of bullion. The primary reason for this is that as actual US coinage it remains under the protection of the secret service. >>
That would seem to make sense.
But I notice a higher percentage of faked government-issue coins than I do private-mint coins.
I don't remember ever seeing an odd-ball private mint bullion piece that was faked.
The counterfeiters seem to go for well-recognized and widely-traded forms.
<< <i>I hope the hobby survives this. >>
Me too. There have been fakes & frauds in the art market for centuries and it seems to be doing OK. Killed the rare toy market though.
Hopefully our hobby is well established enough to weather it. My gut says we'll be OK as long as the TPGs can stay ahead of it. It's going to get tough when replicating 3-D printers get a few generations better.
<< <i>
<< <i>I hope the hobby survives this. >>
Me too. There have been fakes & frauds in the art market for centuries and it seems to be doing OK. Killed the rare toy market though.
Hopefully our hobby is well established enough to weather it. My gut says we'll be OK as long as the TPGs can stay ahead of it. It's going to get tough when replicating 3-D printers get a few generations better. >>
3-D printers can not be used to strike coins. They can only be used to cast coins.
And there are always visible differences between cast and struck.
<< <i>Dan, I'm more or less aware of their current capabilities. Obviously the current ones can't reproduce a coin that would fool anyone. I won't be worried until they're able to lay down material on a near-molecular level. At that point, you could re-create surface frost, die markers, and even flow lines - all the characteristics of striking. We're many years away, but it's not impossible to think it could happen at some point. >>
Well, if the technology ever got that good, the same thing could be done with your body (cloning/replication).
At that point, everything (not just coin collecting) would be different.
3-D printers can not be used to strike coins. They can only be used to cast coins.
And there are always visible differences between cast and struck.
I think I'll go with DCarr on this one.
also a good reason for bullion buyers to stick with US coinage.
That is really not a good reason for bullion buyers to stick to US coinage. Bullion gold and silver eagles are being counterfeited and passed without detection daily. I brought a thread I posted from Sept 26 to the top. It has pics of counterfeit Proof eagles in it and here are a couple pics.