Counterfeit crisis gets mainstream media attention
- Published: Jun 14, 2016, 1 PM
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:
- Counterfeit Proof 2015-W American Eagle silver dollar surfaces at show
- Counterfeiters target 1-ounce gold PAMP bars, packaging
- Counterfeiters target silver bullion products of multiple manufacturers
- Will counterfeits ever be vanquished from numismatics?
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.
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.
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
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