Major news network reports on the counterfeit crisis: Coin World Buzz

Most in the numismatic community are already very familiar with the issue
By , Coin World
Published : 06/14/16
Text Size

1. Counterfeit crisis hits mainstream media

Most in the numismatic community have likely read about the boom in counterfeit bullion coins and bars that has troubled the hobby on a national and global scale.

Coin World has done its fair share of reporting on it, as you can see:

But it’s always good when a major media outlet sheds light on such an issue.

NBC News published a feature online on June 13 titled "Glitters, but Not Gold: Fake Gold and Silver Coins 'Flooding' Market." As you can guess, the post is about the growing concern of counterfeits throughout all corners of the hobby.

Author Herb Weisbaum goes into how and where the counterfeiting is happening, and how to avoid becoming a victim.

In Weisbaum's explination of new tricks that counterfeiters are using, a familiar name appears. Coin World managing editor William T. Gibbs is quoted in the story, and he alerts NBC's readers that these fakes are becoming more advanced, with phony cases, serial numbers, and other small aesthetics that give these fakes a more professional look.

“So even if you're ordering a coin online that shows it's in a slab from a reputable grading service, those holders could be fake," Gibbs said.

Here's the full NBC story.

2. Impressive, but not rare

An upcoming Spink’s auction in New York will offer a Mint State 69 1960-J silver 5-mark coin from West Germany that’s expected to sell for nearly $20,000.

So why all the fuss?

3. First Spouse series coming to an end

Proof and Uncirculated 2016-W Nancy Reagan First Spouse gold $10 coins will arrive in July, and will end a 10-year series for the United States Mint.

“While the coins are posted on the U.S. Mint's product schedule for a July release, no specific date is yet listed for when sales of the coins are to begin,” Paul Gilkes writes.

4. Connect with Coin World: 

5.  Precious metals pricing

Kitco.com lists the following prices per ounce Tuesday at 1:14 p.m. ET:

  • Gold: $1,282.70
  • Silver: $17.335
6. Hot Topics
 

Check out three fascinating stories from the last couple of days:

  1. Phillipines notes dominate top lots during Lyn Knight Currency auction 
  2. Although struck in small numbers, the 1839 Gobrecht dollar is very collectible
  3. London’s Trafalgar Square appears on 2-ounce silver £100 coin

7. Something social 

Ever witness an arrest at a coin show? From our Facebook page:

You are signed in as:null

Please sign in or join to share your thoughts on this story

No comments yet