The following is a Press Release from the Anti-Counterfeiting Educational Foundation (ACEF) announcing that it has helped collectors, dealers and the general public with the removal of over $1 million in counterfeit coins and precious metal items.
(Temecula, California) December 10, 2020 – Funded only by donations, the nonprofit Anti-Counterfeiting Educational Foundation (www.ACEFonline.org) worked with law enforcement agencies in 2020 to protect collectors, dealers and the general public by helping remove from the marketplace over $1 million of counterfeit rare coins and precious metals items, according to a year-end update from the foundation.
Among the cases, ACEF and its Anti-Counterfeiting Task Force (ACTF) assisted Customs and Border Protection investigators in seizing over 1,500 counterfeit silver American Eagles at Dallas-Fort Worth International Airport and aided two investigations by the U.S. Treasury Department’s Office of Inspector General (OIG) involving the seizure of fake rare coins valued at over $450,000.
“ACEF/ACTF has become a central repository for offenses related to counterfeit coins and precious metals. We’ve developed a searchable database for offenses and intelligence information and are continually providing a tool for law enforcement to identify trends, patterns, suspects, manufacturers, as well as uncovering websites and social media platforms offering counterfeits,” explained Doug Davis, ACEF Director of Anti-Counterfeiting.
“The ACEF Task Force has over 80 active cases being reviewed and investigated. During 2020 we assisted law enforcement agencies in locating and seizing over $1 million dollars in counterfeit coins and precious metals,” said Davis who conducted a half dozen anti-counterfeiting seminars for law enforcement officers across the country during the past year.
ACEF also is currently assisting Treasury OIG with three cases involving elderly victims who unsuspectingly bought counterfeit coins housed in fake NGC and PCGS holders sold by a telemarketing firm.
With assistance from the Anti-Counterfeiting Educational Foundation, New Jersey legislators are considering a law that would impose criminal penalties for anyone selling counterfeit coins and precious metals.
“To effectively combat counterfeits, all states need to have statutes that address counterfeit coins and precious metals and provide criminal penalties. This would allow local, county and state law enforcement officers the tools to investigate, arrest and prosecute counterfeit coin and precious metal cases at a state level. ACEF is in the process of identifying states that do not have current statutes and providing legislators with a model bill for review and adoption,” said Davis.
“The work of the Anti-Counterfeiting Task Force is supported entirely by donations made to the Anti-Counterfeiting Educational Foundation, a non-profit corporation,” emphasized ACEF Executive Director Robert Brueggeman. “The donations, large or small, are making a difference to help prevent collectors, dealers and the general public from becoming victims of fakes.” Monetary contributions can be made online at www.acefonline.org/donate or by check mailed to ACEF, 28441 Rancho California Rd., Ste. 106, Temecula, CA 92590. For additional information about donating, contact ACEF Executive Director Brueggeman at info@ACEFonline.org
It’s scary when they’re getting good at counterfeiting slabs. Fortunately one can check the bar code with the issuing service, but that doesn’t mean they’re not replicating a genuine one. And while China claims to be cracking down, who knows?
Here’s an article from the Numismatic News, 23 May 11: “Dr. Dubay also showed photographs of one of the largest fake coin factories in China, the Big Tree Coin Factory in Fujian Province, owned and operated by Lin Ciyun. The presses in this factory were originally used in a U.S. Mint facility, then transferred to China in the early 1900s for their coinage production needs. Later, in the mid 1950s, the Chinese government scrapped the presses and sold them to private buyers. Mr. Lin bought at least some of the presses and now uses them to produce (by his admission) over 100,000 forged coins per month. With the assistance of a handful of expert machinists, he is able to strike coins at exactly the same pressure and technical specifications as those used in 19th century U.S. mints.”
Sometimes a collector can tell. At a flea market I saw an 1877 Trade Dollar that was obviously fake, but when asked I just couldn’t articulate why. It was just enough off to feel wrong. But if it’s too good a deal to pass up…pass it up.