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Weekly Numismatic World News for August 13, 2017

August 14, 2017 in Blogs, Coins, Collecting, Counterfeit, Education, Euro Coins, History, Investing, News, Numismatica, Numismatics, Opinion, Reference, USA Coins, World Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

The reasons why counterfeiters are successful is that people do not pay attention. Even when people do allegedly pay attention, it is almost as if the brain is not engaging. A report from the U.K. says that people returning from mainland Europe are trying to pass euros because they look like the new £1 coin. […] Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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ICTA’s Anti-Counterfeiting Task Force gets underway with steering committee and work groups

April 19, 2017 in Coins, Collecting, Counterfeit, Currency, Education, Fake Coins, History, Investing, Money, News, Numismatic Crimes, Numismatica, Numismatics, Press Releases, USA Coins

By: Press Release News.CoinUpdate.com (Coin Update News)

The Industry Council for Tangible Assets has named an 11-member steering committee and has formed eight work groups to begin the work of its Anti-Counterfeiting Task Force.

ICTA created the Anti-Counterfeiting Task Force in January and named Beth Deisher as its director. ACTF’s mission is to mobilize law-enforcement resources to protect the integrity of U.S. and world coinage by educating officials on the economic impact and growing threat of counterfeit circulating, collectible, and bullion coins.

“We are extremely pleased to have leaders step forward and volunteer their time and expertise as we begin working with various levels of law enforcement to… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Buyers Beware! Fake British Virgin Islands Collector Coins from Unauthorized Distributor

November 3, 2016 in Coins, Collecting, Counterfeit, Education, Fake Coins, News, Numismatic Crimes, Numismatica, Numismatics, Opinion, PSA

By: Michael Alexander News.CoinUpdate.com (Coin Update News)

(Thursday, October 27)–The government of the British Virgin Islands is advising the public, especially coin collectors, that “coins” purported to be issued in the name of the British Virgin Islands have been offered for sale to coin dealers and the general public. (Two examples are shown above.) The coins are being sold from a website originating in Russia, by a company calling themselves “Katz Coins & Notes” or “Coinsking” with offices in Novosibirsk. The designs feature the Sibir Hockey Club in Russia and animals from Novosibirsk Zoo. The seller also purport to have offices in Prague, Czech Republic. The coins… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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NFC Tags and the Fight Against Counterfeiting

September 5, 2016 in Coin Grading, Coins, Collecting, Counterfeit, Education, Fake Coins, Grading, Investing, News, Numismatica, Numismatics, Opinion, Rare Coins, USA Coins

By: Kendall Bailey News.CoinUpdate.com (Coin Update News)

nfc tag 1smaller

It seems we can hardly go a week without hearing of new counterfeit coins surfacing. It is a problem as old as the hobby it continually undermines. Keeping collectible coins honest is especially troublesome today because counterfeiters have become quite adept at thwarting the security precautions employed by third party graders (TPGs). It is a predicament for collectors and dealers alike as it creates instances of distrust between buyer and seller.

The grading companies attempt to combat fakers’ efforts with a barrage of security precautions. TPGs use features like holograms, micro printing, serial numbers that are searchable on their websites, special… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Bob McCabe’s Book on Counterfeiting To Be Released This Holiday Season

July 13, 2016 in Books, Collecting, Counterfeit, Currency, Education, Entertainment, History, Money, News, Numismatic Crimes, Numismatica, Numismatics, Opinion

By: Caitlyn Trautwein News.CoinUpdate.com (Coin Update News)

Counterfeiting-and-Technology-coverSMALL

This winter, the long-anticipated story of paper-money counterfeiting by historian Bob McCabe will make its debut. Counterfeiting and Technology: A History of the Long Struggle Between Paper-Money Counterfeiters and Security Printing is an adventurous monument to the history of paper money and, most importantly, to the technology that created it.

At the ANA’s World’s Fair of Money in Rosemont, Illinois, last year, I had the privilege of attending a Society of Paper Money Collector’s meeting, during which a presentation on Confederate paper money was delivered. Afterward the floor was opened to a Q&A session, during which one particular question caught my… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Increase In Gold Price May Increase Gold Scams, Cautions Michael Fuljenz

February 9, 2016 in Coins, Collecting, Counterfeit, Education, Fake Coins, Gold, Gold Bullion, Gold Coins, Gold Eagles, Investing, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, PNG Professional Numismatists Guild, Precious Metals, Press Releases, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

February 9, 2016

 News media contact:

Donn Pearlman, for Michael Fuljenz

(702) 868-5777  Donn.Pearlman@gmail.com

Increase In Gold Price May Increase
Gold Scams, Cautions Michael Fuljenz

 

 Summary:

There are five things you must know about buying and selling gold to avoid paying too much or receiving too little, advises Universal Coin & Bullion President Michael Fuljenz, a member of the Professional Numismatists Guild’s Accredited Precious Metals Dealer program.

 (Beaumont, Texas) — The recent increase in the price of gold may increase the chances of unwary buyers and sellers becoming victims of dishonest dealers, cautioned Michael Fuljenz, an award-winning precious metals writer and President of Universal Coin & Bullion, Ltd. (www.UniversalCoin.com) in Beaumont, Texas.

“It happens virtually every time there’s a run up in gold and silver prices.  Scam artists take advantage of investors and consumers who have not done their homework,” warned Fuljenz.

“Last year when prices dropped, there was still so much public demand that the United States Mint ran out of some bullion coins inventory several times.  I anticipate demand will rise even higher from 2015’s impressive levels.  Investors should know how to get more value when buying and more money when selling,” Fuljenz stated.

He said there are five danger points to avoid:

  • Paying far too much when you purchase new, popular gold bullion items, such as American Eagle and Canadian Maple Leaf coins. Depending on the quantity of your purchase, Fuljenz advised you should only pay between 4.5 and 5.5 percent over the intrinsic (“melt”) value of a typical, one-ounce gold bullion coin.  Premiums above melt value may reach as high as 14 percent when purchasing smaller-size bullion coins that contain only one-tenth of an ounce of gold.
  • Receiving far too little when you sell.  Depending on the quantity and quality of coins you are selling, you should receive as least melt value for popular, one-ounce gold bullion coins and usually significantly over intrinsic value for rare coins.  Several years ago, Fuljenz assisted news media in five states with investigations of so-called ‘hotel buyers’ who often paid just pennies on the dollar for some precious metals items.  In one case, a high-profile buyer offered only $60 for a gold coin with a market value of $10,000 that Fuljenz loaned to investigative reporters who worked on the stories.
  • Not receiving what you paid for.  Fuljenz pointed out there have been recent news media stories in Orange County California and Austin, Texas about precious metals dealers failing to deliver the gold bullion coins investors ordered in good faith.
  • Not receiving payment for precious metals items you shipped to a buyer.  “Before you buy or sell with a dealer, check to see the dealers’ credentials.  Are they accredited by the Better Business Bureau?  Are they truly experts, such as being a member of the Professional Numismatists Guild’s Accredited Precious Metals Dealer (APMD) program,” advised Fuljenz.
  • Beware of counterfeit American Eagle gold and silver coins and fake bullion ingots (bars).  “Even though hobby protection laws have been strengthened and counterfeit detection efforts in the precious metals and rare coin profession have increased, it pays to make sure your specific dealer is an expert in counterfeit detection,” said Fuljenz.

About Mike Fuljenz

Michael Fuljenz, President of Universal Coin & Bullion

Michael Fuljenz, President of Universal Coin & Bullion

Universal Coin & Bullion President Michael Fuljenz has won more than 50 prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals, including Book of the Year.  He has taught counterfeit detection classes at American Numismatic Association seminars, and was recently was awarded an Honorary Doctorate in Humane Letters by McNeese State University.  A respected community leader in his hometown of Beaumont, Texas, Mike also has served with distinction as a consultant to the Federal Trade Commission, United States Mint and Royal Canadian Mint, and is on the Boards of Directors of the influential Industry Council For Tangible Assets, Crime Stoppers of Beaumont, Texas, and is a member of the prestigious Professional Numismatists Guild (PNG) and is a PNG Accredited Precious Metals Dealer.

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Bob McCabe Readies New Book on Bank Note Counterfeiting and Technology

January 7, 2016 in Bank Notes, Books, Counterfeit, Education, History, News, Numismatica, Numismatics, Paper Money

By: Caitlyn Trautwein News.CoinUpdate.com (Coin Update News)

A genuine note of the Chippewa Bank, Wisconsin. Images courtesy of Don C. Kelley.

A genuine note of the Chippewa Bank, Wisconsin. Images courtesy of Don C. Kelley.

 

Counterfeiting and Technology: A History of the Long Struggle Between Paper-Money Counterfeiters and Security Printing will be published by Whitman in the summer of 2016.

Since mid-2015 I have had the pleasure of working on a very special project, and now its release is just around the corner. Counterfeiting and Technology by author Bob McCabe is a long-awaited narrative in the world of paper-money accounts. It is an adventurous monument to the history of paper money, and most importantly, to the technology that created it. Found within are tales… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Multi-Million Dollar Displays And Educational Seminars Highlight September 2015 Long Beach Expo

August 25, 2015 in Auctions, Clubs and Associations, Coin Dealers, Coin Grading, Coin Shows, Coins, Coins for sale, Collecting, Collector Sets, Commemorative, Competition, Conventions, Counterfeit, Education, Entertainment, Events, Fun, Gold, Gold Coins, Investing, News, Numismatic Societies and Clubs, Numismatica, Numismatics, PCGS (Professional Coin Grading Service), Press Releases, Rare Coins, Seminars, Silver, Silver Coins, USA Coins, World Coins

For immediate release
August 25, 2015

News media contact:
Steve Sloan (949)567-1223

Multi-Million Dollar Displays And Educational
Seminars Highlight September 2015 Long Beach Expo

 

The 1877 pattern half dollar (J-1511), graded PCGS PR66RB, will be among the Simpson Collection pattern coins on display during the September 2015 Long Beach Expo. (PCGS TrueViewSM image.)

The 1877 pattern half dollar (J-1511), graded PCGS PR66RB, will be among the Simpson Collection pattern coins on display during the September 2015 Long Beach Expo. (PCGS TrueViewSM image.)

(Long Beach, California) –- Multi-million dollar displays of rare U.S. pattern coins and high-grade early date large cents exhibited for the first time on the West Coast, along with educational seminars, grading contests and more than 500 dealers buying and selling will highlight the next Long Beach Coin, Currency, Stamp & Sports Collectible Expo (www.LongBeachExpo.com).  

The show will be held, September 17 – 19, 2015, in the Long Beach, California Convention Center, 100 S. Pine Ave.  Heritage Auctions (www.HA.com), the official auctioneer of the Long Beach Expo, will conduct U.S. and world coin and banknote auctions on-site and online.

“This will be a busy show for many collectors and dealers with displays and activities for beginning to advanced numismatists,” said Cassi East, President of the Long Beach Expo, a division of Collectors Universe, Inc. (Nasdaq:  CLCT).

While supplies last, Professional Coin Grading Service will give away complimentary “Periodic Table of United States Coins” posters.  Numismatic experts and PCGS poster co-creators David Hall, Ron Guth and Mike Sherman will be on hand to autograph the posters.

Highlights of the September Long Beach Expo include:

Two superb PCGS-certified sets from The Bob Simpson U.S. Pattern Collection recently displayed at the ANA World’s Fair of Money, the Morgan half dollar patterns of 1877 and $4 Stellas in all metals (www.pcgs.com/News/Simpson-Half-Dollar-And-Stella-Patterns), will be exhibited courtesy of collector Bob Simpson of Texas and Legend Numismatics of New Jersey.

Among the outstanding Simpson Collection pattern coins on display during the September 2015 Long Beach Expo will be this 1879 Coiled Hair $4 “Stella” (J-1638), graded PCGS PR66+CA. (PCGS TrueViewSM image.)

Among the outstanding Simpson Collection pattern coins on display during the September 2015 Long Beach Expo will be this 1879 Coiled Hair $4 “Stella” (J-1638), graded PCGS PR66+CA. (PCGS TrueViewSM image.)

A selection of the Tom Reynolds Collection of early date (1793 – 1814) United States large cents, recently certified by PCGS (www.pcgs.com/News/Amazing-Tom-Reynolds-Collection), will be displayed by Ira & Larry Goldberg Auctioneers.

Visitors also will be able to view more coins from the D. Brent Pogue Collection for the first time on the West Coast, courtesy of Stack’s Bowers Galleries, including the Lord St. Oswald 1794 Dollar (BB-1, B-1), graded PCGS MS66+, and the Garrett Collection 1795 Eagle, (BD-4) Capped Bust Right, PCGS MS66+.

The GDH Collection, the number one sets in the PCGS Set Registry of quarter-ounce silver and 1/24 ounce gold 25th Anniversary Panda coins also will be displayed.  

Collectors, dealers and young numismatists can compete for prizes in the PCGS Coin Grading Contest (www.longbeachexpo.com/news/2015/109).  

“This popular activity again returns to the Long Beach Expo with a challenge to grade a variety of 20 coins in 30 minutes.  Advanced registration is encouraged by calling PCGS Customer Service at 1-800-447-8848,” said East.

PCGS will offer two separate seminars (www.longbeachexpo.com/news/2015/110) from 10:00 am to 2:00 pm on Saturday, September 19.  Grading 102 “Qualifiers” will be taught by Michael Sherman, PCGS Director of Collector Education.  The other seminar, Grading 103 “No Grades and Counterfeit Detection,” will be taught by Mike Faraone, PCGS Lead Counterfeit Detection Expert.

Graded PCGS Secure MS66 BN, this 1794 Large Cent (S-28, head of 1794) from the Reynolds Collection is among the highlights of Reynolds Collection early date Large Cents that will be displayed at the September 2015 Long Beach Expo. (PCGS TrueViewSM image.)

Graded PCGS Secure MS66 BN, this 1794 Large Cent (S-28, head of 1794) from the Reynolds Collection is among the highlights of Reynolds Collection early date Large Cents that will be displayed at the September 2015 Long Beach Expo. (PCGS TrueViewSM image.)

Advance registration is required for the grading and counterfeit detection seminars.  Contact PCGS Customer Service at 1-800-447-8848 or register online at www.PCGS.com/store.

“There will be about a dozen club meetings and educational seminars during the upcoming show.  More than 500 collectibles dealers from around the country will be buying and selling rare coins, gold, silver, paper money, stamps, sports memorabilia, estate jewelry and other collectibles. We will also have nearly two dozen dealers from China attending the September show,” said East.

Representatives of Professional Sports Authenticator (www.PSAcard.com) and PSA/DNA Authentication Services will be accepting submissions at the show.

On Saturday, September 19, youngsters can get free prizes during a treasure hunt, and the Long Beach Stamp Club will give away vintage, collectible postage stamps to children to help them start a collection.

Show hours are Thursday and Friday, September 17 and 18, from 10 am to 7 pm, and Saturday, September 19, from 10 am to 5 pm.  Admission is $8 for adults, $4 for seniors and children aged 8 to 16; however, free admission coupons are available in advance online.  

“Simply go to our website, www.LongBeachExpo.com, click ‘Get Passes,’ and enter the special Promo Code, PRSEPT15.  Then print out the free admission coupon and present it at the show’s registration desk,” said East.

For additional information, including the schedule of events and a list of attending dealers, visit online at www.LongBeachExpo.com, call the Long Beach Expo at 888-743-9316 or email at LBExpo@collectors.com.

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Beware Fake Flying Eagles and Altered Indian Head Cents

August 21, 2015 in ANA (American Numismatic Association), Antique Coins, Blogs, Coins, Collecting, Counterfeit, Education, Fake Coins, History, Investing, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, USA Coins

By: Richard Snow News.CoinUpdate.com (Coin Update News)

Genuine 1878 Indian Head cent
Genuine 1878 Indian Head cent
Counterfeits were once a great detriment to the enjoyable pursuit of coin collecting. Throughout the 1950s until the mid-1970s, collectors had a good chance of buying a counterfeit if they strayed from traditional sources for their coins. The average collector was mostly ignorant about counterfeit detection, and there was nowhere to turn for protection.

Venues not typically known for numismatic expertise (such as flea markets, estate auctions, and garage sales) were places where counterfeits could easily be found. At the typical coin show, counterfeits were offered knowingly by what one might call “fly-by-night” dealers, who gave no… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Judge Awards Coin Fraud Victim’s Estate Nearly $1.9 Million Under Federal Racketeer Laws

July 22, 2015 in Antique Coins, Coins, Collecting, Counterfeit, Fake Coins, Grading, Investing, Legal, News, Numismatica, Numismatics, PCGS (Professional Coin Grading Service), PNG Professional Numismatists Guild, Press Releases, US Government

For immediate release
July 22, 2015

News media contacts:
Paul Montgomery, (405) 254-6877
Lyn Stevens, (800) 896-3452

Judge Awards Coin Fraud Victim’s Estate
Nearly $1.9 Million Under Federal Racketeer Laws

 

(Corpus Christi, Texas) – A Federal Court Judge in Texas has issued her final ruling that a coin fraud victim’s estate should receive nearly $1.9 million from a Long Island coin dealer and his grading company under the Racketeer Influenced and Corrupt Organization Act (RICO).  The estate was assisted in its three-year recovery efforts by former Professional Numismatists Guild President Paul Montgomery, President of Paul Montgomery and Associates in Oklahoma City, Oklahoma (www.paulmontgomeryonline.com).

Judge Nelva Gonzales Ramos of the United States District Court of Southern Texas, Corpus Christi Division, issued her final judgment on July 21, 2015.

Last November, Judge Ramos held a bench trial in the case.  On May 20, 2015 she issued a 30-page Findings of Fact and Conclusions of Law in which she ruled that PCA Collectibles, Inc. of North Lindenhurst, New York, and PCI Coin Grading company misled Corpus Christi stockbroker Bonnie Pereida “into buying coins that were counterfeit, damaged or worth only a fraction of what they were represented to be.”

Judge Ramos also stated in May: “The Court concludes that there is clear and convincing evidence of the fraud perpetuated by PCI and PCA against Pereida.”

In her final judgment, the judge now has ordered that the estate can recover $1,892,324 from Anthony Delluniversita, majority owner of PCA and the owner of PCI coin grading company at the time the coins were graded and sold to Pereida.  Of that total, $1,610,802 is for damages, $280,190 for attorney’s fees and another $1,332 for costs of the lawsuit.

Montgomery stated: “I’ve been involved in hundreds of these kinds of cases, and this is the first one that resulted in a federal court victory.  Usually, the sellers resolve the buyers’ complaints to avoid a trial in court by eventually making a refund of all or at least a portion of what the customers paid.  It takes time, but there are remedies against nefarious dealers, and I’m delighted for Dr. Malvino about the judge’s decision in this case.”

According to court documents, from January through May of 2011, Pereida made 31 separate purchases of rare coins from PCA.  She bought 135 coins and paid a total of $727,569 to PCA for them.  The coins were graded by PCI, and the sole owner of PCI at the time was defendant Delluniversita who also was the dominant shareholder of PCA Collectibles.

Pereida’s fiancé  Albert P. Malvino, Ph.D., testified, “We bought these (coins) for our retirement…and we thought…we’re getting a good deal…..”

When Pereida died in October 2011, Dr. Malvino was appointed executor of her estate and had the coins appraised.

Heritage Auctions through its Heritage Appraisal Services estimated the auction value at $190,865 at the time the coins were examined, less than 27 percent of the amount paid by Pereida.  Montgomery then was retained by Dr. Malvino to assess the grade and value of the coins, and he concluded the reasonable retail value of the coins at the time they were purchased by Pereida was $150,964, about 20 percent of what Pereida paid.

Montgomery also requested Professional Coin Grading Service to do an independent appraisal of the grades, and, according to the Judge’s ruling, “PCGS’s findings were consistent with those of Montgomery.”

Heritage, Montgomery and PCGS identified one coin as a counterfeit, a 1914-D Indian $2.50 graded by PCI as MS64.

They also identified 25 other coins that could not be graded because they were either cleaned or damaged.  These included a 1907 Saint-Gaudens Roman Numerals High Relief Double Eagle graded by PCI as MS65 and sold for $19,500.  Heritage estimated the auction value at $6,000, Montgomery valued the coin at retail as $4,500 and both Heritage and Montgomery agreed with PCGS that the coin had been cleaned.

An 1892-CC Liberty Double Eagle, sold by PCA to Pereida for $12,500 and graded by PCI as MS62, was valued by Heritage at $2,600 and only AU, valued by Montgomery at $700 because it was damaged and given also given no grade by PCGS because of an noticeable scratch on the coin.

During the trial in November 2014, Montgomery showed the judge coins graded by PCI as Mint State, that were in his opinion, only About Uncirculated.

“She quickly understood the concept of grades and its relationship to coin values.  I told her: ‘Your Honor, now you’re a coin grader,’” recalled Montgomery.

“When you’re buying or selling coins, there’s an important lesson for the public to remember.  If you don’t know rare coins, you’d better know your rare coin dealer.  Members of the Professional Numismatists Guild must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.  The dealer who sold coins to Ms. Pereida was not a PNG member,” said Montgomery who served as PNG President from 2009 – 2011.

Dr. Malvino was represented by attorney R. Lyn Stevens of Stevens Baldo Freeman & Lighty in Beaumont, Texas (www.sbf-law.com and www.CoinFraud.com).

The case is Albert Malvino v. PCA Collectibles, Inc., Civil Action No. 2:12-CV-401, in the U.S. District Court of Southern District of Texas Corpus Christi Division.

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Fake Silver Coins: 11 Ways to Spot Counterfeits

July 23, 2014 in Coin Validators, Coins, Collecting, Counterfeit, Education, Fake Coins, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Dollars, Silver Eagles

By: Dave Martinez. July 2014 (http://www.silvercoins.com)

It is unfortunate that articles like this have to be written, but where there is money trading hands, there will always be fakes, frauds, and counterfeits.

If you have purchased some silver and can’t get rid of that little voice in your head that keeps saying what if they are fake silver coins …

Below are 11 ways on how to spot fake silver eagles, bars, and bullion. We’ve ranked them from the least to the most effective methods in detecting counterfeits. (Most of these tests can also be applied to gold as well).

 1. Magnetic Test

While many fakes can easily pass this test, silver as well as gold bullion for that matter are both non-magnetic. If a bullion coin or bar sticks to a magnet you can easily throw this one out. Fakes that are produced with any iron or steel content in them will give off some magnetic attraction and identify itself as a fake. Metals that have a core of zinc, copper, lead or other non-magnetic metal will not be detected by this test.

Full Article at the source>

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Fake British Virgin Islands Crown Coins Surface

May 29, 2014 in Counterfeit, Fake Coins, News, Numismatic Crimes

May 28, 2014. By Michael Alexander (http://news.coinupdate.com)

In an effort to alert the public of a potential fraudulent coin being offered to the numismatic community, the office of the Premier of the British Virgin Islands has issued a communique to advise would-be collectors that a coin which has recently surfaced purporting to be a crown coin from their authority is in fact not an authorized coin from their Treasury. The theme of the coin is the recent Papal visit of Pope Francis to Brazil which took place in July 2013. An image of the Pope appears on the reverse of the coin, with an effigy of HM Queen Elizabeth II and the “2014” date on the obverse.

 Fake British Virgin Islands Crown Coins

Fake British Virgin Islands Crown Coins

The following text was included in the press release by the Premier’s office:

BUYERS BEWARE! FAKE BVI COLLECTOR’S COIN IN CIRCULATION

Thursday, May 22, 2014 – The Government of the British Virgin Islands is advising the public, especially coin collectors, that a ‘coin’ claiming to be issued in the name of the British Virgin Islands, has been offered for sale to coin dealers and the general public.

This ‘coin’ allegedly commemorates the visit of Pope Francis to Brazil and bears an image of Her Majesty the Queen on the front, together with the wording ‘British Virgin Islands.’

All interested parties are advised that this ‘coin’ has never been approved by the Government, the Foreign and Commonwealth Office or Her Majesty the Queen.

Immediate action is being taken to investigate the perpetrators of this distribution. In the meantime, the Government of British Virgin Islands is alerting any potential purchasers that this item is not an authorized coin.

Full article at the source>

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Mould for minting Roman coins found in Talkad

May 19, 2014 in Ancient Coins, Anthropology, Antique Coins, Archaeology, Coins, Counterfeit, Education, Fake Coins, Numismatic Crimes, Numismatica, Numismatics, Roman Coins, World Coins

By: Akram Mohammed, Mysore, May 19, 2014 (http://www.deccanherald.com)
For those who think financial fraud or circulating fake currencies is a modern day phenomenon, an ancient Roman coin mould on display at the Department of Archaeology, Museums and Heritage in the city is a startling revelation.

 

The Roman coin mould, which is being displayed for the first time since its excavation in 1993, indicates that fake coins were in circulation around 19 to 20 centuries ago. The terracotta mould is among the most important objects displayed at the exhibition, apart from terracotta figurines, iron objects, bronze dies, stone beads.

M S Krishnamurthy, a retired professor of Archaeology who led the team that unearthed the mould, told Deccan Herald that it was a mould for Roman coins in circulation during the first century AD. “The coins probably were minted either during the period of Augustus or his son Tiberius,” he said.

Full article at the source>

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Fake Nevada Coins | Lawmakers working to stop counterfeits

February 8, 2014 in Antique Coins, Coins, Collecting, Counterfeit, Fake Coins, News, Numismatic Crimes, Numismatica, Numismatics, Silver, Silver Coins, USA Coins

By:Reed Cowan. February 7th, 2014. (http://www.mynews3.com)

LAS VEGAS (KSNV & MyNews3) — Rare coins are big business in Nevada.

A recent auction of the coins in Las Vegas topped $1 million in sales.

A Chinese counterfeit coin expert may be threatening the success of the business, while diluting a part of Nevada history.

Washington lawmakers are focusing on how coins minted in Carson City in the early days of the state could be at the center of a counterfeit operation.

Built near the Comstock mines at the peak of the silver boom, the mint produced 50 issues of silver coins and 57 issues of gold coins between 1870 and 1893. The coins bore the “CC” mint mark.

Coin collectors and businesses say the phony coins threaten to ruin them. Historians say the fakes tarnish Nevada’s minting heritage.

Collection experts and historians see accused counterfeit expert Jinghuashei as their worst enemy.
Robert Nylen, curator of the Nevada State Museum housed in the old Carson City Mint, says it “seems sad that something so important can be tarnished by people out to make money.”

Every day Nylen leads tours through museum, ending in the room where thousands of coins were stamped out of silver and gold. Authentic examples of the coins are kept behind bars.

Nylen and others say counterfeit Carson City coins are devastating a proud part of the state’s history while also duping serious coin collectors.

Related Video:

Full article at the source>

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The Gold and Silver Mine – A South Jersey counterfeiter who aimed low

February 4, 2014 in Cents, Coin Errors, Coins, Counterfeit, Education, Fake Coins, Nickel Coins, Numismatic Crimes, Numismatica, Numismatics, USA Coins

By: Douglas Keefe. (http://www.shorenewstoday.com/)

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

A recent story in “The Numismatist,” a monthly publication put out by the American Numismatic Association, reminded me of a story about what is probably the most bizarre example of coin counterfeiting.

The counterfeiter, Francis Leroy Henning, a true underachiever, chose the lowly five-cent coin as the item he wished to make. And his intent was not to copy a rare coin that would have a greater numismatic value, but rather one that he would spend as five cents. Why he chose that coin instead of one with a higher denomination is unknown, but in all likelihood, because the higher-denomination coins were made of silver, his investment would be higher if he needed silver to make those coins.

Henning, who lived in Erial, N.J., made dies for five-cent coins with six different dates (1939, 1944, 1946, 1947 and 1953, with a sixth date that was never found) using a mechanical transfer process in his machine shop. He created a single reverse die, and where a mintmark would normally appear was blank, indicating a coin struck at the Philadelphia Mint. His operation took place in the years 1954 and 1955, and because he purportedly had a vending machine route, it was not unusual for him to make large deposits of coins in the bank.

His undoing came about as a result of his lack of knowledge of coins. As I said, the practice at the time was for all mints that struck coins to add a mintmark to the coin. However, coins struck at the Philadelphia Mint did not have any mintmark. The exception to this rule occurred during the war years of 1942-45, when a certain amount of the metals used to strike the five-cent coin were replaced with silver. These coins were so marked by adding a large mintmark on the reverse for each mint, now including the letter “P” for Philadelphia.

Since Mr. Henning used just one die for all his coins, the coin dated 1944 caused his endeavor to be exposed, since that coin didn’t have the required “P” mintmark.  Also, since all of his counterfeits were of the same metallic content as the regular five-cent coin, his 1944 coin didn’t contain the silver that a normal 1944 coin would, and hence had a different appearance.

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Counterfeit coin expert to share authentication tricks in Toronto

October 6, 2013 in Canadian Coins, Coins, Collecting, Counterfeit, Education, Fake Coins, News, Numismatica, Numismatics, Royal Canadian Mint, World Coins

That shiny collectible coin may be worth hundreds of dollars, or it may be a worthless fake, says one Ontario collector.

By:  Staff Reporter (http://www.thestar.com) Oct 04 2013

Hundreds of brightly coloured collectible coins and heavy pieces of bullion shine brightly beneath protective casings in Mike Marshall’s Trenton home.

While collectible coins can fetch thousands of dollars from hungry collectors, many pieces in Marshall’s collection are essentially worthless.

As a collector, he doesn’t just compile rare pieces of metal produced by the Royal Canadian Mint — he also looks for fakes. Marshall has amassed a giant collection of counterfeit coins and studied them carefully, looking for markings left in a coin by the die.

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House Weighs Bill to Crack Down on Coin Counterfeits

July 30, 2013 in Coins, Counterfeit, Fake Coins, News, Politics, Rare Coins

By STEVEN NELSON.  July 29, 2013 (http://www.usnews.com)

Coin collectors are being conned by Chinese counterfeits, according to trade groups and congressmen behind legislation up for a vote in the House Tuesday.

The “Collectible Coin Protection Act” will make it a crime “for a person to provide substantial assistance or support to any manufacturer, importer, or seller if that person knows or should have known” that the coins are not authentic.

Rep. G.K. Butterfield, D-N.C., is the primary sponsor of the bill, which is co-sponsored by Rep. Henry Waxman, D-Calif., and Reps. Steve Scalise, R-La., Lee Terry, R-Neb., and Lamar Smith, R-Texas.

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The Fisch Gold, Silver and Platinum coin validator

June 20, 2013 in Coin Validators, Coins, Counterfeit, Fake Coins, Gold, Gold Coins, Platinum, Platinum Coins, Silver, Silver Coins

I have just added to the resource page a link to the Fisch Gold Silver and Platinum coin validator or checker. In our opinion a very good tool to detect counterfeits.

There are videos and diagrams that clearly explain how it works. Worth the time to check out.

How the Fisch works for Gold and Platinum coins, <Click here>

How the Fisch works for Silver coins <Click here>

The Fisch Website is http://www.thefisch.com

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Auction company sues man who sold firm fake rare coins

June 6, 2013 in Antique Coins, Coins, Counterfeit, Fake Coins, Gold, Gold Coins, News, Rare Coins

Heritage Auctions filed suit in Manhattan Supreme Court against Boris Koyen Aminov, who provided fraudulent certificates along with the plastic-sealed coins he claimed were rare and pocketed $31,000 from the sale.

By Barbara Ross / NEW YORK DAILY NEWS

A prominent Park Ave. company that sells millions of dollars a year in rare coins is accusing a Queens man of snookering it into buying three gold coins by claiming they were extremely rare.

In papers filed Monday in Manhattan Supreme Court, Heritage Auctions says it paid Boris Koyen Aminov of Rego Park $31,000 for a 1911 coin and two 1909 coins, but the gold coins were only worth what their gold content would fetch — a few thousand dollars. Heritage wants its money back.

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Three forgers jailed for total of 12 years after biggest ever plot to flood Britain with £1.5million in fake pound coins

May 23, 2013 in Coins, Counterfeit, English Coins, Fake Coins, News

By MARK DUELL May 21st, 2013. (http://www.dailymail.co.uk)

  • Kevin Fisher, 53, Daniel Sullivan, 28, and Mark Abbott, 44, imprisoned
  • Undercover police operation found huge storage container in Essex
  • Scotland Yard says some of fake currency might now be in circulation

Three forgers were today jailed for a total of 12 years following what police believe was the largest ever plot to make fake pound coins in the UK – some of which may still be in circulation.

Kevin Fisher, 53, of Goffs Oak, Hertfordshire, Daniel Sullivan, 28, of Hornchurch, east London, and Mark Abbott, 44, of Edmonton, north London, were all sentenced at Southwark Crown Court today.

The three men were behind what is thought to be a record number of fake coins worth £1.5million, which were discovered after an undercover Metropolitan Police operation in May last year.

Full article at source>

 

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Detect Fake Gold & Silver Coins With An Easy Ping Test

May 5, 2013 in Coins, Counterfeit, Education, Fake Coins, Gold, Gold Coins, Gold Eagles, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Gold Silver Worlds | May 4, 2013 (http://goldsilverworlds.com)

GoldSilver.com, the company founded by Mike Maloney and run by James Anderson, published a very practical report on the growing threat of fake silver and counterfeit gold products. Mainly the simple but powerful ping test (which everyone can do at home, at ease) can protect you from being ripped off by sellers of phony bullion products. The ping test applies to both gold and silver coins.

Detect fake gold and silver coins

Although the following picture reveals some differences in the look of silver coins it seems recommended to do a ping test in the first place.

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Fake U.S Silver Eagle coins soaring through Hamilton, police say

April 26, 2013 in Coins, Collecting, Counterfeit, Fake Coins, News, Silver, Silver Coins, Silver Eagles, USA Coins

Hamilton Police say they’ve gathered over 500 fake U.S Silver Eagle coins sold across the city over the past few months.

By: Cbc News April 25th, 2013

Hamilton coin collectors and pawn shops are getting duped.

Police are warning that fake U.S silver eagle dollar coins have been circulating in the city and have been sold to various establishments over the past few months.

“You wouldn’t be able to tell the difference (with) the naked eye. The coins are actually very high quality fakes,” Const. Mike La Combe said in a Hamilton Police YouTube video. “They are silver and nickel-plated, which gives them the look of an actual silver dollar. However, when you cut them open, you can clearly see on the inside, they are brass filled.”

The video shows some of the roughly 500 fakes that have been confiscated so far.

“They are worth practically nothing, just a couple cents each,” La Combe explained.

LaCombe is a pawn unit investigator and says the coins are being bought online, then sold at “golden” times for the seller when shops are busy or with little staff. During the rush, employees may not have the time to do all the proper authenticity checks, giving criminals the chance to sell fast without getting caught.

“Only buy them from reputable dealers, a place that is established, an expert who works there who knows the difference between real and fake. Don’t buy them off the internet. and don’t buy them from people from the public who aren’t considered experts because more than likely you’re going to get a fake,” added Le Combe.

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15 Easiest ways to spot all Chinese Fake Silver coins

April 25, 2013 in Coins, Collecting, Counterfeit, Education, Fake Coins, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, USA Coins, World Coins

From Ebay Buying Guides By hendrixantique Ebay

COUNTERFEIT CHINESE SILVER COINS – 15 EASY SUGGESTIONS FOR DETECTING FAKES

1.  Weight the coin.  If the weight does not match US Mint standards, it is fake.  Weights for good silver fakes will be accurate, but only for the rarest fakes (.900 fine U.S. bust dollars, Spanish pieces of eight, etc.).

2.    DO NOT RELY ON A MAGNET TO DETECT A FAKE.  All metals used in these fakes are non-ferrous and are all non-magnetic.  Of course any silver coin that sticks to a magnet is an obvious fake.  White copper is 75% copper, the remainder being nickel and zinc.  Other Chinese fakes are copper and brass plated with silver.

3.  Check the alignment of dates, especially on early coinage and silver dollars.  Often the counterfeiters will try and ‘tweak’ their own die by crafting a number by hand.  For example, 1893 CC Morgan dollar fakes often have a “9” that is slightly misformed, and not struck in the same depth as the 1, 8, and 3.

4.  Check the thickness of the coin.  To keep their coins within proper weight limits and diameter, they are forced to make the coins ‘thicker’ than real coins to compensate for the lower density of copper, nickel and zinc.  NOTE:  This test cannot be used on coins struck in 90% silver.

5.  Check the edge of the coin for any verdigris, or green patina caused by the copper leaching through the nickel and zinc, or silver plating.  Silver turns black with oxidation; copper turns green.  If you see any green on the edges of the coin is it almost always a fake.

6.  Examine the mintmark closely.  In nearly every case of a Carson City Morgan, the “CC” is too small, large, or incorrectly spaced.  This also applies to New Orleans and San Francisco mint marks.

7.  Use known legitimate coins or images as ‘compares.’  Most of us don’t have a spare 1893 CC Morgan laying around the house.  However, you can locate images of nearly every authentic US coin by searching eBay or coin dealer websites.  Find a raw or slabbed coin with a good photo and compare a known authentic coin to one in question.  It is a 99% certainty that there will be flaws in the date, mintmark, or other characteristics.

Full Article at source>

 

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How to Spot £1 Counterfeit Coins

April 22, 2013 in British Coins, Coins, Counterfeit, English Coins, Numismatica, Numismatics, World Coins

The Royal Mint (http://www.royalmint.com)

The Royal Mint takes counterfeiting and fraud extremely seriously. To help identify genuine £1 coins we have prepared an easy-to-use guide and poster for you to download.

The Royal Mint regularly conducts surveys to estimate the level of counterfeit £1 coins in the UK. A survey undertaken in November 2012 found that the rate of counterfeit UK £1 coins in circulation at the time had reduced to 2.74% from 3.09% (as concluded previously in a survey undertaken in November 2011).

Provisions for various offences connected with the counterfeiting of coins are included in the Forgery and Counterfeiting Act 1981. Enforcement of these provisions is entirely a matter for law enforcement agencies, such as the police and the Crown Prosecution Service.

Full Article and .PDF Downloads >

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