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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.

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