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Beth Deisher Honored With 2017 PNG Lifetime Achievement Award

August 1, 2017 in Awards, Collecting, History, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, PNG Professional Numismatists Guild, Press Releases, Prize Winners

News media contact
Donn Pearlman, 702-868-5777

Professional Numismatists Guild logo

Professional Numismatists Guild logo

Beth Deisher Honored With

2017 PNG Lifetime Achievement Award

Former Coin World Editor Beth Deisher received the Professional Numismatists Guild Lifetime Achievement Award from PNG Executive Director Robert Brueggeman (left) and PNG President Barry Stuppler (right) at the organization's awards banquet in Denver, Colorado on July 31, 2017. Photo credit: Donn Pearlman

Former Coin World Editor Beth Deisher received the Professional Numismatists Guild Lifetime Achievement Award from PNG Executive Director Robert Brueggeman (left) and PNG President Barry Stuppler (right) at the organization’s awards banquet in Denver, Colorado on July 31, 2017.
Photo credit: Donn Pearlman

(Denver, Colorado) July 31, 2017 – The Professional Numismatists Guild (www.PNGdealers.org) presented its 2017 PNG Lifetime Achievement Award to prominent and influential hobby leader Beth Deisher.  The award was announced during the PNG’s annual banquet held this year in Denver, Colorado on July 31, 2017.

Deisher is the Anti-Counterfeiting Task Force Director of the Industry Council for Tangible Assets (www.ictaonline.org).  She was the award-winning Editor of Coin World for 27 years until her retirement in 2012. Over the years Deisher also has conducted workshops and classes on the problems of counterfeit coins produced in China.

These are the other 2017 awards and winners announced at the PNG Denver banquet.

The Robert Friedberg Award for an outstanding book or other literature was jointly presented to authors Pete Smith, Joel J. Orosz and Leonard Augsburger for their reference book, 1792: Birth of a Nation’s Coinage, published by Ivy Press.

           The Sol Kaplan Award was presented to four people this year: Bill Walker, a Senior Numismatist at Heritage Auctions in Dallas, Texas, and jointly to three Missouri law enforcement officials: Sheriff Cory Hutcheson, Chief Deputy Branden E. Caid and Captain Barry Morgan, all of the Mississippi County Missouri Sheriff’s Department.

In early 2017 while in Florida, Walker recovered and subsequently returned to their grateful owner five rare coins that had been stolen a year earlier, apparently while in transit in the United States Postal Service mail.  The coins had a combined value of about $30,000.

In a separate case, Sheriff Hutcheson, Chief Deputy Caid and Captain Morgan successfully tracked down a collector in Florida whose rare coins were stolen four decades earlier when he was a youngster in Charleston, Missouri in 1972.  During a January 2017 search of the Southeast Missouri home of a drug case suspect, the officers discovered and recovered about two-thirds of the coins stolen 45 years earlier. Through perseverance and solid detective work the officers were able to return the coins, some still housed in their familiar blue Whitman folders, to the now adult and quite surprised collector.  

The Kaplan Award recognizes efforts and contributions in combatting crimes against the numismatic community, and is jointly presented by the PNG and the Lewis M. Reagan Foundation.  It is named after a former PNG President and Ohio dealer who was personally responsible for the apprehension of several people suspected of committing numismatic-related crimes.  

John Maben of JFM Trading, LLC in Lakewood Ranch, Florida received the Significant Contribution Award. It is given to those who have made exceptional, beneficial efforts over the years on behalf of PNG and the profession, and added to the hobby.

Christine Karstedt, Executive Vice President of Stack’s Bowers of Stack’s Bowers Galleries, received the Art Kagin Ambassador Award. This award is named after a former PNG President and nationally-known Iowa dealer who provided distinguished service as an advocate of numismatic goodwill.  

PNG Legal Counsel Armen Vartian of Manhattan Beach, California, was recognized during the banquet for 25 years as a PNG Affiliate Member.

The Professional Numismatists Guild is a nonprofit trade association composed of the country’s top rare coin and paper money dealers who must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.  The organization also has an Accredited Precious Metals Dealer program (http://apmddealers.org).  For additional information, contact Robert Brueggeman, PNG Executive Director, 28441 Rancho California Road, Suite 106, Temecula, CA 92590. Phone: (951) 587-8300. Email: info@PNGdealers.org.  Online: www.PNGdealers.org.

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Four Are Arrested in Theft of Giant Gold Coin From Berlin Museum

July 13, 2017 in Burglaries, Coins, Gold, Gold Coins, News, Numismatic Crimes, Numismatica, Numismatics, Precious Metals, World Coins

By: David Shimer New York Times Topics (Numismatics)

The arrests were made in the theft of the 221-pound “Big Maple Leaf” coin from the Bode Museum. The coin has probably been melted or shattered, the authorities said… Full article at the source>

Source: New York Times Topics (Numismatics)

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Exaggerated descriptions plague coin auctions

June 19, 2017 in Auctions, Coins, Coins for sale, Collecting, E-commerce, Education, Ethics, Grading, Investing, News, Numismatic Crimes, Numismatica, Numismatics, Online Tools, Opinion, USA Coins

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

I am growing weary reporting exaggerated descriptions in online coin auctions hosted by major portals, such as Proxibid and eBay. While it is difficult for those portals to monitor all lots in multitudes of auctions, it nevertheless hurts the hobby when hyped descriptions are not reported.

Here are just a few recent examples. I could provide many more, but these deal with coin rolls, raw coins, and holdered coins by eBay-approved and unapproved companies.

Let’s start with the “never opened” roll (hover cursor over images to zoom)… Full article at the source>

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

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Texas Attorney General Issues Gold Coins Consumer Protection Tips

May 22, 2017 in Bullion, Coins, Coins for sale, Collecting, Education, Fake Coins, Gold, Gold Bullion, Gold Coins, Investing, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, Opinion, Precious Metals, Press Releases, PSA, Rare Coins, US Government, USA Coins, World Coins

News media contacts:

Paul Stein, for Universal Coin & Bullion, 409-860-9077
Texas Attorney General’s office, 800-252-8011

Texas Attorney General Issues
Gold Coins Consumer Protection Tips

(Austin, Texas) May 22, 2017 – With input from numismatic experts, the Attorney General of Texas, Ken Paxton, has issued a consumer protection alert about buying and selling gold coins.  

Award-winning rare coins and precious metals writer, Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas, provided continuing consultation to the attorney general’s office on this important consumer alert. Fuljenz, in coordination with other key numismatic industry leaders, offered guidance on consumer protection best practices for precious metals consumers.

The advisory notes that senior citizens make up about 14% of the U.S. population but account for 60% of the callers to the National Fraud Information Center.

Paxton’s advisory cautions consumers and investors: “If coins you bought as an investment would have to double or triple in value before any gain could be realized, you may have been a victim of fraud.”

Entitled “Consumers Should Do Their Research Before and After Investing in Gold Coins,” the advisory emphasizes the crucial importance of working with reputable dealers to help avoid paying too much when buying or receiving too little when selling.  Paxton’s office recommends researching dealers through the Better Business Bureau, the American Numismatic Association, the Professional Numismatists Guild, Professional Coin Grading Service and Numismatic Guaranty Corporation.

“By issuing this important consumer protection advisory, Texas is not only assisting Lone Star state residents but providing nationwide benefits to the public who can access this useful information online.  Attorneys general across the country now also have a template to provide consumer protection advice to their residents about buying and selling gold bullion and gold coins,” said Fuljenz.

Among other tips in the Texas Attorney General’s advisory:

Do not respond to callers not previously contacted. Cold callers often are not registered in Texas to legally telemarket and often try to pressure customers to act quickly.

Do not do business with a dealer who guarantees your purchases are totally safe, will go up in value or can’t go down, stresses government gold confiscation or says he will buy them back for what you paid at any time.

The full consumer protection advisory from Texas Attorney General Paxton is available online and as a printable PDF document at www.texasattorneygeneral.gov/cpd/gold-coins.

Regretfully, due to print limitations, additional buying and selling tips were excluded, said Fuljenz, including avoiding false grading claims, advice about return privileges and urging caution if sellers receive certified money orders or certified checks from unknown buyers because they could be counterfeit.  All ten of the additional consumer protection tips are available online at www.MikeFuljenz.com/goldtips.

At Fuljenz’ request, the following are among the precious metal industry leaders who provided input to him for the advisory. Their names are listed alphabetically with affiliations given only for identification purposes.

Gary Adkins, American Numismatic Association Vice President and former Professional Numismatists Guild President

John Albanese, co-founder of Professional Coin Grading Service, Numismatic Guaranty Corporation and CAC

Doug Davis, Founder of Numismatic Crime Information Center, City Manager and former Police Chief of Pantego, Texas

Beth Deisher, Director of Anti-Counterfeiting for the Industry Council for Tangible Assets and former Editor of Coin World

Terry Hanlon, Dillon Gage Metals President, former PNG President

Jerry Jordan, award-winning investigative reporter and former Texas newspaper editor

Kathy McFadden, ICTA Executive Director

Rick Montgomery, NGC President

Donn Pearlman, public relations consultant, ANA Zerbe Award recipient, former ANA Governor and former journalist/broadcaster

Jay Sheppard, Better Business Bureau Serving Southeast Texas Dispute Resolution Director

Miles Standish, NGC Vice President

Universal Coin & Bullion (www.UniversalCoin.com) President Michael Fuljenz has won more than 60 prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals.  He is on the Boards of Directors of the influential Industry Council For Tangible Assets, Crime Stoppers of Jefferson and Hardin Counties Texas, and is a member of the prestigious Professional Numismatists Guild which honored him along with Doug Davis and Jerry Jordan in 2016 with its Sol Kaplan Award for helping to fight numismatic-related crimes.

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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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Buyer beware

October 3, 2016 in Blogs, Certified Acceptance Corporation (CAC), Coin Dealers, Coins, Collecting, Education, Numismatic Crimes, Numismatica, Numismatics, Opinion, USA Coins, World Coins

By: Laura Sperber Legend Numismatics Hot Topics

Auction buying

I want to make it clear this is not a self serving Hot Topics. I am writing this based upon several negatives I see happening. As many of you know, I tirelessly fight coin doctors and dealers who shill for them. For awhile, things chilled. Lately, I do not like a lot of what I see starting to happen again. The public needs a little reminder.

One thing I can proudly state-Legend and Legend Auctions do NOT deal in doctored coins. Legend Numismatics sells ONLY CAC beaned coins to its customers for a reason. Legend Auctions has myself, Greg Cohen, and George Huang… Full article at the source>

Source: Legend Numismatics Hot Topics

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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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Positive Protection Guard Tackles Suspected Coin Thief In Long Beach

June 13, 2016 in Coins, Collecting, Conventions, Events, News, Numismatic Crimes, Numismatica, Numismatics, Press Releases, Rare Coins, Theft

Updated: June 12, 2016

 Positive Protection Guard Tackles
Suspected Coin Thief In Long Beach

 

(Long Beach, California) — A suspected thief was tackled by a Positive Protection, Inc. (www.ppius.com) security guard as he tried to escape at the Long Beach Coin, Currency, Stamp & Sports Collectible Expo (www.LongBeachExpo.com) on Friday, June 10, 2016.  An alleged accomplice with a backpack containing more than $300,000 of rare coins was also taken into custody.

Both suspects were turned over to Long Beach police on suspicion of burglary, robbery and possession of stolen property.  Two other suspects were arrested the next day and more stolen coins were recovered.

“They reportedly were trying to sell coins at the Long Beach Expo in the Long Beach Convention Center.  One dealer they approached, Karl Stephens, thought the coins they were offering had been stolen earlier in a robbery in the San Bernardino, California area,” said Patrick Coward, a guard for Positive Protection of Temecula, California, a company that provides security services for coin and jewelry dealers.

When the suspects tried to leave, the dealer shouted out to stop them.  I was nearby and when one suspect started to run I chased him and tackled him at the door.  Additional security personnel from the show helped subdue him.  The second suspect was stopped without a problem at the door as he tried leave.  His backpack was filled with more than 100 ancient coins and other gold and silver coins worth more than $300,000,” explained Coward, a former New York City homicide detective.

The brief chase and the tackle were captured on surveillance video at the booth of Stack’s Bowers Galleries (www.stacksbowers.com) of Santa Ana, California and New York City.

This surveillance video shows Positive Protection, Inc. security guard and former New York City Police homicide detective Patrick Coward on the left as he immediately chased and tackled a suspected coin thief when the suspect tried to flee from a coin show in Long Beach, California on Friday, June 10, 2016. His alleged accomplice is then stopped at the door while carrying a backpack with a reported $300,000 in rare coins believed stolen in an earlier theft in the San Bernardino, California area. VIDEO CREDIT: courtesy of Stack’s Bowers Galleries.

“With the help of a knowledgeable dealer and the fast action of trained security professionals, two suspected thieves were caught and valuable, stolen rare coins have been recovered,” said Robert Brueggeman, President of Positive Protection which provides on-site security for all the Whitman Expo and American Numismatic Association convention shows.  “We always want a safe, enjoyable environment for dealers and the public at these collectible shows, but we also must always be on alert.”

A day after the capture of the two suspects at the coin show, Long Beach Police arrested two more suspects who reportedly came to retrieve the car of the first two suspects.  Investigators recovered from the car what is believed to be the remainder of the stolen rare coins.

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Use Caution To Avoid Gold And Silver Counterfeits, Advises Professional Numismatists Guild.

May 3, 2016 in Bullion, Coins, Coins for sale, Collecting, Education, Fake Coins, Gold, Gold Bullion, Gold Coins, Gold Eagles, Numismatic Crimes, Numismatica, Numismatics, PNG Professional Numismatists Guild, Precious Metals, Silver, Silver Coins, USA Coins

For immediate release
May 3, 2016

Use Caution To Avoid Gold And Silver Counterfeits, Advises Professional Numismatists Guild.

 

Historic, genuine 1803 Draped Bust design U.S. silver dollars in Very Fine condition are currently valued at about $3,000. This counterfeit 1803-dated dollar was recently offered in a Hong Kong flea market for less than $3. (Photo by Donn Pearlman.)

Historic, genuine 1803 Draped Bust design U.S. silver dollars in Very Fine condition are currently valued at about $3,000. This counterfeit 1803-dated dollar was recently offered in a Hong Kong flea market for less than $3. (Photo by Donn Pearlman.)

(Temecula, California) – Beware of counterfeit vintage rare coins and fake modern gold and silver bullion items now being offered in the marketplace.  Purchase only from reputable dealers, cautions the Professional Numismatists Guild (www.PNGdealers.org).

The PNG is a nonprofit organization composed of many of the country’s top numismatic experts.

“It is clear there is an increase in the types of fakes sold by unscrupulous dealers.  These sales of counterfeit coins are potentially a multi-million dollar problem for the public.  There’s an old saying that can help buyers avoid problems: If you don’t know coins, you better know your dealer,” stated Professional Numismatists Guild (PNG) President Dana Samuelson.

“We conducted an informal inquiry of PNG members and PNG Accredited Precious Metals Dealers (APMD) about what they’re encountering now in the marketplace.  They have seen everything from counterfeits of vintage rare coins to modern precious metal items.  These include fakes of popular century-old U.S. Morgan and Peace design silver dollars to current gold and silver American Eagles, gold U.S. Buffalo coins, silver and gold Chinese Pandas, and Canadian silver and gold Maple Leaf coins.  We’re also seeing spurious gold and silver ingots,” said Samuelson.

“Professional dealers who look at classic U.S. coins and bullion items all day long are usually not fooled by these spurious items, but to the untrained eye they often look like the real thing,” he explained.

“Many of the fakes apparently are originating in China and then offered online by various sellers.  It is imperative that collectors, investors and the general public deal only with reputable, knowledgeable experts who offer a guarantee of authenticity,” emphasized Samuelson.

Two PNG members who recently were in Asia say they saw counterfeits of early 19th century Draped Bust, mid 19th century Seated Liberty and late 19th and early 20th century Morgan and Peace silver dollars being sold in flea markets in China and Hong Kong for $1 to $3 each.

Unsuspecting buyers have submitted counterfeit modern bullion coins to Numismatic Guaranty Corporation (www.NGCcoin.com) for authentication and grading. NGC, the official grading service of PNG, earlier reported submissions of counterfeit 2012-dated gold American Eagle $50 denomination coins.

The front and back of a counterfeit 2012-dated American Eagle $50 denomination one-ounce gold bullion coin. (Photo courtesy of Numismatic Guaranty Corporation.)

The front and back of a counterfeit 2012-dated American Eagle $50 denomination one-ounce gold bullion coin. (Photo courtesy of Numismatic Guaranty Corporation.)

Those particular counterfeits exhibit poorly defined details around Liberty’s face and hair, different fonts for lettering and the date compared to genuine coins and the color is different because the fakes are not composed of gold, according to Max Spiegel, a Vice President of Certified Collectibles Group, NGC’s parent company.

PNG and PNG Accredited Precious Metals Dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise including bullion coins, precious metal rounds and ingots, and they offer a guarantee of authenticity for the numismatic items they sell.

For a list of PNG-APMD members visit www.PNGdealers.org and click on the APMD navigation link.

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Counterfeiting is Alive and Well

April 11, 2016 in Bureau of Engraving and Printing, Collecting, Currency, Education, History, Money, News, Numismatic Crimes, Numismatica, Numismatics, Opinion, U.S. Notes, US Federal Reserve, US Government

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

100usd_newSMALL

Obverse of current $100 bill, first issued in 2013.

 

Although the average American may not think about it on a daily basis, it would come as no surprise to most that counterfeiting U.S. currency is an industry that is alive and well today. There is a reason the $10 bill is up for a redesign; it’s a security measure to try and keep ahead of counterfeiters, and anyone who has used a larger bill in retail will have seen the special black “markers” that cashiers use to check currency. If it comes out yellow or brown, you’re… 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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FLAWED GOLD: How to Spot and Lessen Risk

January 20, 2016 in Bullion, Coins, Collecting, Education, Gold, Gold Coins, News, Numismatic Crimes, Numismatica, Numismatics, Precious Metals, USA Coins

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

flawed Gold

With the price of gold at less than $1100 per ounce, many hobbyists are buying old coins rather than bullion, taking advantage of price and adding raw coins to their collections. However, unlike other numismatic items, raw gold comes with more potential problems because of the soft metal, history of counterfeits, improper care and, lest we forget, unscrupulous sellers.

Some problems lessen value but still may earn a grade at the top holdering companies. Many problems will not be worth slabbing. And a few problems are outright frauds.

The most common flaw is the test cut. Such cuts were made to discern… Full article at the source>

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

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Proxibid Adopts Bidder-Friendly Coin Listing Rules

September 2, 2015 in Certified Acceptance Corporation (CAC), Coins, Coins for sale, Collecting, Ebay, Education, Fake Coins, Fun, Grading, News, Numismatic Crimes, Numismatica, Numismatics, Online Tools, Opinion, PCGS (Professional Coin Grading Service), Rare Coins, USA Coins, World Coins

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

proxibid

I’ve been writing about self-slabbed and hyped coins for more than five years on Coin Update News, not only because of the inherent dishonesty of auctioneers calling a silver-melt Morgan MS67, but also because of concerns about the hobby.

One bad transaction in which a significant sum is lost, based on misleading or even fraudulent information, and the buyer will typically cease collecting coins.

In a 2010 Coin Update News article, I noted that eBay (but not Proxibid) had changed its coins and currency rules to exclude grades and values from titles, item specifics, and descriptions for any lot not… Full article at the source>

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

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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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PCGS Grading and counterfeit detection seminars at September 2015 Long Beach Expo

August 5, 2015 in Coin Grading, Coin Shows, Coins, Collecting, Conventions, Education, Events, Fake Coins, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, PCGS (Professional Coin Grading Service), Seminars, USA Coins, World Coins

For immediate release
August 5, 2015

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

PCGS GRADING AND COUNTERFEIT DETECTION
SEMINARS AT SEPTEMBER 2015 LONG BEACH EXPO

 

Collectors will have the opportunity to learn from the experts at two Professional Coin Grading Service (www.PCGS.com) coin grading and counterfeit detection seminars during the upcoming September 2015 Long Beach Coin, Currency, Stamp & Sports Collectible Expo (www.LongBeachExpo.com).

Michael Sherman will teach Grading 102 at the September 2015 Long Beach Expo.

Michael Sherman will teach Grading 102 at the September 2015 Long Beach Expo.

PCGS will offer two separate seminars 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.

“Space for the PCGS Collector Education Program seminars is limited and anyone interested in attending is encouraged to make a reservation as soon as possible,” said PCGS President Don Willis.

The cost for each four-hour seminar is $149 for PCGS Silver, Gold, Platinum and Diamond level Collector’s Club members, and $199 for non-members.  Lunch is included for the seminar attendees.

Attendance for Grading 102 and 103 will be limited to 30 people for each class.  Advance reservations will be taken on a first come, first served basis.  To register, visit the PCGS Online store at www.PCGS.com/store.

“Grading 102 topics will cover ‘qualifiers,’ including color on copper coins, the strike on silver and nickel coins, and proof-like and cameo surfaces,” explained Sherman.  “Grading proof coins also will be discussed along with ultra-high grade modern coins and difficult to grade series, such as U.S. Indian gold coins.”

The Grading 103 seminar will examine the interesting world of ‘No Grades,’ coins that for some reason either cannot receive a regular grade but can still be placed in a PCGS holder, or coins that cannot be encapsulated by PCGS.

Grading 103 will be taught by Mike Faraone at the September 2015 Long Beach Expo.

Grading 103 will be taught by Mike Faraone at the September 2015 Long Beach Expo.

“Each of the dozen or so reasons for a possible ‘No Grade’ evaluation will be covered in detail with numerous photographic enlargements and actual examples of coins,” said Faraone.  “The second part of this seminar will cover counterfeit detection, including struck and cast counterfeits, and alterations to genuine coins, such as an added mintmark or changed date.”

The Long Beach Expo will be conducted Thursday through Saturday, September 17 – 19, 2015, in the Long Beach, California Convention Center, 100 S. Pine Ave.  For additional information about the show, visit www.LongBeachExpo.com.

For additional information about the grading and counterfeit detection seminars, contact PCGS Customer Service at (800) 447-8848 or by email at info@PCGS.com.

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$5,000 Reward Offered By Numismatic Crime Information Center (NCIC) in Coin Shop Murders

August 5, 2015 in News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, Press Releases, PSA

By: NCIC 08/03/2015 (http://numismaticcrimes.org/)

The Numismatic Crime Information Center is offering a $5,000 reward for information that leads to the arrest and conviction of the person or persons responsible for shooting and killing two men at a rare-coin shop in Cheyenne, Wyoming.

Police identify the victims of the July 20 shooting as 67-year-old Dwight Brockman, the shop owner, and 76-year-old George Manley. The two men were found dead at The Coin Shop.

Investigators say the suspect is a man around 5 feet, 7 inches tall, who was wearing a dark shirt at the time.

Anyone with information should contact:

Det.Pederson 307-637-6510 or Doug Davis 817-723-7231 Doug@numismaticcrimes.org

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Collectible Coin Protection Act Becomes Law

December 30, 2014 in Coins, Collecting, Education, Legal, News, Numismatic Crimes, Numismatica, Numismatics, Politics, US Government

By Michael Zielinski (News.CoinUpdate.com (Coin Update News))

replica-coin

Following several other recent actions in coin related legislation, President Obama has signed the Collectible Coin Protection Act into Law. The Act will serve to broaden the existing Hobby Protection Act by making it unlawful to sell unmarked replica coins.

The Hobby Protection Act, which was enacted in 1973, had made it illegal to manufacture or import into the United States for introduction into or distribution in commerce any imitation numismatic Full article at the source>

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

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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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‘Investors’ in R5 Mandela coins ripped off

May 12, 2014 in African Coins, Coins, Collecting, Commemorative, Education, Investing, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, World Coins

By: Angelique Arde and Margie King. May 11th, 2014 (http://www.iol.co.za/) Personal Finance.

If you have paid thousands of rands for a R5 Mandela coin, which you bought as an investment, you are neither an investor nor a collector. You are a “victim”, Glenn Schoeman, the president of the South African Association of Numismatic Dealers, says.

A R5 circulation coin commemorating Nelson Mandela’s 90th birthday is worth R5. It contains no precious metal and it is not rare. But cunning dealers, exploiting Mandela’s iconic brand, have talked up a market around these coins, which are on sale for anything from a couple of hundred rand to R1 million.

“The biggest problem in numismatics [coin collecting] at the moment is the Mandela R5 coin. That’s where the bulk of the rip-off is occurring,” Peter Wilson, the chairman of the National Association of Numismatic Societies, says.

“We have been warning the market for some time: there is little that’s rare about the Mandela R5 coin. And, no, it is not an investment,” he says.

Full article at the source>

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Over 150 medieval and ancient coins confiscated by police at numismatic fair in Romania

February 25, 2014 in Ancient Coins, Antique Coins, Archaeology, Coins, Collecting, History, Numismatic Crimes, Numismatica, Numismatics, Rare Coins, Roman Coins, Theft, World Coins

By Irina Popescu. February 25th, 2014 (http://www.romania-insider.com/)

A total of 154 old coins were confiscated by the police at a numismatic fair in Brasov, center Romania.

The coins, some of them dating from the second and first centuries B.C. while others from the medieval period, came from archeological sites and were illegally sold at the fair for prices between RON 5 and RON 20.

“After the police checked the 125 persons participating at the fair,  seven people aged between 35 and 61, from Bihor, Buzau, Caras Severin and Salaj counties, and Bucharest were identified, they illegally traded 154 ancient and medieval coins that seem to come from archaeological sites protected by law,” according to the Brasov County Police spokesman, Liviu Naghi, quoted by Mediafax.

Full article and video 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.

Full article at the source>

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Coin show vendors often find themselves the targets of thieves

January 27, 2014 in Coin Shows, Coins, Collecting, Conventions, Gold, Gold Coins, News, Numismatic Crimes, Numismatica, Numismatics, Silver, Silver Coins, Theft, World Coins

By: Joe Kovac jkovac@macon.com. January 26th, 2014. (http://www.macon.com/)

PERRY — When you deal in silver and gold, and your wares include an honest-to-goodness $100 trillion dollar bill, you can never be too careful.

As much as collecting coins can be a hobby, coin shows like the one the Middle Georgia Coin Club hosted during the weekend at the Georgia National Fairgrounds and Agricenter can be a target for thieves.

The collectibles, after all, are money.

Glass displays at the Perry showcased gold coins worth thousands and included an 1893 silver dollar estimated at $15,000. There were $20 U.S. gold pieces from the early 1900s going for $1,300 and up.

Precautions must be taken. Seven years ago, knife-wielding bandits in surgical masks pulled off a $4 million heist at a coin convention in Orlando.

“It’s organized crime,” collector Phil Comer, who helped put on the Perry event, said Sunday. “There are all sorts of ruses, people working in teams.”

Full article at the source>

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