Counterfeit Coins in TPG Holders Arrest
JJSingleton
Posts: 1,401 ✭✭✭✭✭
Reported by Coin World.
I am glad to see this clown go down but sadly there are likely 1000's of these out there, if not more. Be careful out there.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
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wow, interesting what the pawn shop must have been paying for slabbed coins
100 hours of community service MAX. There is no victim here.
?????
"If convicted, Johnson faces a maximum sentence of up to five years in prison and/or a fine of up to $10,000."
In a Mirandized statement, according to the July 31 complaint, Johnson admitted to purchasing coins on the Chinese website, Alisuxpress.
from MyLoftyPerch the real problem isn't the Chinese counterfeit coins: they are typically poor fakes and easy enough to spot. the problem is the slabs and inserts. if they can be made good enough the only real protection is the PCGS/NGC cert verification database.
if the crook can fake the slab/insert the money can be made by finding coins that have a big price jump from MS64-65 etc.
Nobody ever gets the Maximums allowable sentence. This case will end in a plea bargain, with no more than what I stated above. If you think this guy will serve any time for this, you should be an observer in a court room for a few days and learn how the justice system in this country actually works.
Sad, really.
The pawn shops are almost as bad in my opinion.
"The total value of the sales is purported to have been $4,340.50."
➤ 1929 $5 Indian Head $5 half eagle, PCGS Mint State 62.
➤ 1902-S Coronet $10 eagle, NGC MS-63.
➤ 1909-O Indian Head half eagle, PCGS About Uncirculated 58.
➤ 1902-S Coronet eagle, NGC MS-65.
➤ 2014 gold American Eagle, NGC Proof 70.
➤ 2014 gold American Eagle, NGC holder.
The value alone of a PCGS MS-62 1929 Indian Head half eagle, if genuine, is $42,500.
I urge all members to contact the Securities Exchange Commissioner at chairmanoffice@sec.gov to notify him that a US listed company, Alibaba, has one of its companies, Aliexpress, selling counterfeit US coins. Demand Alibaba's delisting from the stock exchange.
No Way Out: Stimulus and Money Printing Are the Only Path Left
So who's really the crook?
Crook-pawnshops, criminal-guy in the article.
done just before the ipo.
I had a lawyer in the SEC on the cc:
nada.
however, keep trying is a good idea.
the case to make is "not in the public's interest"
counterfeiting US issues qualifies in my book.
I even found counterfeits of current us mint issues. but no. nothing happened. Ma says they remove counterfeiting sellers, but all one needs to do it find someone with copy and they will gladly make them without. find a Mainland Chinese person and make a few calls.
From my perspective, a problem is a problem until it is solved and eliminated.
``https://ebay.us/m/KxolR5
What can be done about AliExpress if the seller and buyer are making the deal and communicating separately outside of AliExpress? Should they require all communication go through AliExpress?
The other thing is that the buyers are complicit if they know what they are getting and are specifically asking for a counterfeits not listed on AliExpress. A problem is that the buyers won't complain because there aren't being harmed. Should the penalties be much higher for buyers / importers / resellers to discourage them?
A few have mentioned the ANA should get involved more in combatting counterfeiting. Is there anything the ANA could or should do here?
Hmmm... Are they notifying all other customers who purchased slabs that are now known to be counterfeit?
It seems, from some of these posts, that counterfeit coins/slabs is not taken seriously... I would think the 'victim' in this case was the shop that purchased the fakes....well.. I guess a pawn is not really a purchase... and there would be the reason for the low cash paid..... still, it is a crime, however, djm is likely correct...
Cheers, RickO
Anyone who knows better and purchases a 1909-o $5 in pcgs ms62 if genuine for melt value is a crook as well.
or a poor bottom feeder
No Way Out: Stimulus and Money Printing Are the Only Path Left
I wonder if the slab was sub-par too given that it broke:
As someone who feeds at the bottom of the ocean I know I would not knowingly offer someone 1% of a coins value in hopes of making a 99x score.
Thats like offering 13 cents on a raw circulated morgan dollar which melts at $14. Or offering $13 for a 1 ounce gold eagle. This is not allowed even in the bottom feeder code of ethics which I am a loyal member.
I can understand wanting to make 10,20 even 30%. Some may only even pay 50%. but 99x? Nah
Why only the one charge? Shouldn't there also be some sort of charge for conspiracy?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
What Minnesota really needs is a law to protect unknowing buyers from such unscrupulous sellers.
I wouldn't think he got the coins there, but a quick search can get you a lot of fake slabs for doing it yourself. But I bet he'd never admit that as it's a much worse sentence