The coin hobby has a new anti-counterfeiting ally
- Published: Feb 6, 2017, 2 AM
Coin World managing editor William T. Gibbs’ welcomes the efforts of the new Anti-Counterfeiting Task Force, formed by the Industry Council for Tangible Assets and led by Beth Deisher, former Coin World editor. The task force will work with government agencies in combating the counterfeiting of coins, an ever-increasing problem for the hobby.
Full video transcript:
Good morning. This is William T. Gibbs with Coin World’s Monday Morning Brief.
If you've been in the hobby for any length of time, you know that counterfeit coins are a real problem.
Counterfeiters in foreign countries, especially in China, are making an increasing number of high-quality counterfeit coins, not only older collectible pieces, but modern bullion pieces like American Eagles or silver bars and silver rounds.
Unfortunately, the federal government has shown little interest in fighting these counterfeits. But now the hobby has a new ally.
The Industry Council for Tangible Assets, ICTA, has long been the hobby's watchdog for coins, bullion and other tangible assets. It works with the federal government and state governments on issues important to the industry.
Recently, ICTA formed an anti-counterfeiting task force and named Beth Deisher, former Coin World editor, to be its director.
ICTA task force to combat the counterfeiting of coins: Former Coin World editor Beth Deisher has been named director of an Anti-Counterfeiting Task Force committee formed by ICTA.
What the agency plans to do is to work with government officials to get them to understand just how serious a problem counterfeiting is. We know that counterfeits are growing in quality and some are now slipping past the experts at third-party grading services and making their way into the slabs. They then enter the marketplace and are bought by unknowing dealers and collectors. It's a real problem.
Fortunately with the formation of this new task force, now we have someone in the hobby who can spend time working with the Secret Service, working with other government agencies, and getting to understand that this is a problem and it's something that the government really needs to step up and fight.
In the meantime, while the task force works in this area, Coin World will continue to keep its readers informed of counterfeits through our monthly column, Detecting Counterfeits, and in our regular news coverage about important, new and dangerous discoveries.
For Coin World, this is William T. Gibbs. Thank you.
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